Job Details

Job Description

Overview

We are recruiting!

Our client in Lusaka is looking for a Trainee Compliance and Risk Analyst to join their team for a job vacancy within the insurance industry.

To apply or for more information, follow the link below.

Report to: Operations Manager of the company

Job Specifications:

Responsibilities:

Collect and Compile Information

• Collect and analyse raw data relating to underwriting, finance and claims to identify trends, patterns, and anomalies to optimize business processes and inform decision making.
• Compile data, information and statistics required for annual actuarial valuations (Partially responsible).

Implement Policies and Procedures

• Implement policies and procedures that keep company data and information secure as it is collected, analysed, stored and discarded.
• Develop and oversee control systems to prevent and deal with violations of the law, policies and procedures. (Partially responsible)

Administer Reinsurance Programs

• Compile statistics and information for treaty renewals and reviews.
• Configure treaty programs into the system.
• Prepare monthly treaty and facultative returns.
• Process reinsurance payments.
• Follow up on reinsurance claims recoveries.
• Participate in reinsurance review meetings. (Partially responsible)

Internal and External Audits

• Examine internal and external audit reports to identify areas of potential risk and submit recommendations for adoption.
• Ensure that external audit work is conducted in time for the submission of annual financial reports to the Pensions and Insurance Authority (PIA) before due dates. Partially Responsible

Review function

• Review internal business proposals, contracts, financial statements, and policy wordings to identify areas of potential risk and submit recommendations to management for adoption.
• Review new regulatory frameworks such as IFRS 17, as well as the Guideline on Corporate Governance for the Insurance Sector and submit recommendations to management for adoption.
• Review calculations relating to solvency and prescribed asset ratios to ensure accuracy.
• Review calculations relating to Insurance Premium Levies to ensure accuracy, completeness, and timely payment to ZRA.
• Review and validate taxes due to ZRA on or before the due dates.
• Review calculations relating to insurance levy to ensure accuracy and completeness. (Partially responsible)

Statutory Compliance

• Ensure timely submission of returns as well as timely payment of levies to the PIA.
• Track and keep a record of all statutory meetings including but not limited to staff Pension Fund Meetings, board meetings and management meetings.
• Enforce, monitor and communicate compliance standards across the company.
• Ensure agents pay their levies on or before due dates as required by the PIA. (Partially responsible)

QUALIFICATIONS

EDUCATION

• Full Grade 12, including Mathematics.

POST SCHOOL QUALIFICATIONS

• Degree in Insurance and Risk Management and /or Degree in Actuarial Science
• Degree in Law is an added advantage

ESSENTIAL SPECIALIST SKILLS OR KNOWLEDGE REQUIRED TO MEET DEMANDS OF THE JOB

• Excellent Communication Skills
• A very good team player
• Analytical and Research Skills
• Problem Solving Skills
• Data analytics skills.
• Excellent organizational skills