Job Openings at Coronation Insurance Plc
Coronation Insurance is a leading West African full line insurance company offering a diverse range of products and services covering life, general and special risk businesses. Coronation Insurance is licensed to underwrite all classes of insurance, such as fire and special perils, goods-in-transit, all risk insurance and life insurance for both Individuals and Corporate entities.
We are recruiting to fill the following positions below:
1.) Head, Compliance and Internal Control
Job Location: Lagos
Employment Type: Full Time
Responsibilities
- Develop compliance controls to mitigate compliance risk exposure of organization
- Review control processes, risk assessments to identify risk areas and mitigations and control design weaknesses and drive the implementation of recommendations for remediating those weaknesses.
- Support the formulation of the organization’s compliance programs and compliance strategies to incorporate relevant legislative and regulatory requirements and adapt to changing regulatory environment
- Develop detailed operational plans and procedures for compliance programs
- Establish compliance monitoring and surveillance strategies and objectives for the organization
- Evaluate root causes and potential organizational impact or risks of non-compliance and/or areas of high potential for compliance breaches
- Report recommendations for improvements based on systematic analysis of information at agreed intervals.
- Promote relationships with internal and external assurance providers
- Provide advice and opinions on optimal IT controls for new applications
- Support the development of the company's controls testing approach and teaches others about this approach to build their knowledge and capability.
- Partner with business stakeholders to develop and help implement solutions to complex controls issues in an efficient manner while also maintaining independence
- Advise on best practices and foresees the impact of changes in regulations, policies and procedures.
- Evaluate interdependencies between risks, uncertainties and opportunities, critical failure points and resource implications
- Diligently monitor standard general IT controls, such as proper security management segregation of duties, adequate documents and records and access controls, and independence checks.
- Create and maintain effective relationships with a wide range of internal and external stakeholders to drive compliance.
- Discover and teach others about best practices in compliance management and stay abreast of industry, regulatory and market trends.
- Engage with regulators, external parties, board, senior management, and other key stakeholders to facilitate decision-making on regulatory compliance and/or legal issues
Education and Work Experience
- Bachelor’s Degree in Accounting or related discipline
- Minimum of 10 years of post qualification experience in Compliance and Internal Control preferably in the financial services industry with at least 4 years leading a team
- Must possess a professional accounting qualification (e.g. ACA, ACCA etc.) and membership of one or more relevant professional bodies
- Demonstrated knowledge in internal controls, risk management, audit, ethics and fraud awareness
Required Skills and Competencies:
- Sound knowledge of the various types of controls and how they work together to form a strong internal control environment, including understanding relevant controls frameworks used by the company.
- Ability to articulate requirements and drive the implementation of a strong internal control environment
- Demonstrate detailed knowledge of the processes for developing internal control frameworks in simple and complex situations.
- Demonstrate an understanding of the interdependencies of the organization’s systems, processes and business strategies
- Demonstrate professional judgement to determine appropriate course of action for complex legal and/or compliance situations
- In-depth knowledge of the industry’s standards and regulations
- Excellent knowledge of reporting procedures and record keeping
- Attention to detail and a well-organized approach to work
- Time management and stakeholder management skills
- Strong research skills
Method of Application
Interested and qualified candidates should send their Resume and Credentials to: careers@coronationinsurance.com.ng using the Job Position as the subject of the mail.
2.) Team Lead, Compliance and Internal Control
Job Location: Lagos
Employment Type: Full Time
Responsibilities
- Develop compliance controls to mitigate compliance risk exposure of organization
- Review control processes, risk assessments to identify risk areas and mitigations and control design weaknesses and drive the implementation of recommendations for remediating those weaknesses.
- Support the formulation of the organization’s compliance programs and compliance strategies to incorporate relevant legislative and regulatory requirements and adapt to changing regulatory environment
- Develop detailed operational plans and procedures for compliance programs
- Establish compliance monitoring and surveillance strategies and objectives for the organization
- Evaluate root causes and potential organizational impact or risks of non-compliance and/or areas of high potential for compliance breaches
- Report recommendations for improvements based on systematic analysis of information at agreed intervals.
- Promote relationships with internal and external assurance providers
- Support the development of the company's controls testing approach and teaches others about this approach to build their knowledge and capability.
- Partner with business stakeholders to develop and help implement solutions to complex controls issues in an efficient manner while also maintaining independence
- Advise on best practices and foresees the impact of changes in regulations, policies and procedures.
- Evaluate interdependencies between risks, uncertainties and opportunities, critical failure points and resource implications
- Provide advice and opinions on optimal IT controls for new applications
- Diligently monitor standard general IT controls, such as proper security management segregation of duties, adequate documents and records and access controls, and independence checks.
- Create and maintain effective relationships with a wide range of internal and external stakeholders to drive compliance.
- Discover and teach others about best practices in compliance management and stay abreast of industry, regulatory and market trends.
- Engage with regulators, external parties, board, senior management, and other key stakeholders to facilitate decision-making on regulatory compliance and/or legal issues
Education and Work Experience
- Bachelor’s Degree in Accounting or related discipline
- Must possess a professional accounting qualification (e.g. ACA, ACCA etc.) and membership of one or more relevant professional bodies
- Minimum of 10 years post qualification experience in Compliance and Internal Control preferably in the financial services industry with at least 4 years leading a team
- Demonstrated knowledge in internal controls, risk management, audit, ethics and fraud awareness
Required Skills and Competencies:
- Sound knowledge of the various types of controls and how they work together to form a strong internal control environment, including understanding relevant controls frameworks used by the company.
- Ability to articulate requirements and drive the implementation of a strong internal control environment
- Demonstrate detailed knowledge of the processes for developing internal control frameworks in simple and complex situations.
- Demonstrate an understanding of the interdependencies of the organization’s systems, processes and business strategies
- Demonstrate professional judgement to determine appropriate course of action for complex legal and/or compliance situations
- In-depth knowledge of the industry’s standards and regulations
- Excellent knowledge of reporting procedures and record keeping
- Attention to detail and a well-organized approach to work
- Time management and stakeholder management skills
- Strong research skills
Method of Application
Interested and qualified candidates should send their Resume and Credentials to: careers@coronationinsurance.com.ng using the Job Position as the subject of the mail.
3.) Underwriting Officer
Job Location: Lagos
Employment Type: Full Time
Responsibilities
Underwriting Strategy:
- Provide support in the design and implementation of the Company’s underwriting strategy
Risk Management:
- Ensure implementation of the Company’s risk appetite and pricing strategy to achieve its strategic objectives
Product development:
- Participate in defining appropriate pricing for all key products in all channels and risk classes to ensure that the Company meets its stated strategy of underwriting to a profit in all products and across all distribution channels
- Provide support in setting optimal product strategies to maximize cross-selling opportunities
Underwriting Operations:
- Support the monitoring of the underwriting portfolio ensuring adherence to agreed target business levels, financial limits, historical claims patterns and underwriting controls
- Provide support in setting the premiums charged for coverage and negotiate with the client or the broker to ensure the best fit for all parties
- Provide support in establishing and communicating underwriting profit goals and other measurements including loss ratio, new business development, policy count, account retention, etc.
- Oversee the use of analytics and technology to deliver better underwriting outcomes.
- Monitor and assess the effectiveness of underwriting guidelines, underwriting pricing tools, and pricing strategies and make recommendations for enhancements.
Education and Experience
- Bachelor’s Degree in Insurance, Accounting or any related discipline.
- Minimum of 3-5 years of relevant experience in insurance industry
- Professional certification such as CIIN or relevant qualification
- Relevant experience in life underwriting
Competencies and Skill Requirements:
- Good understanding of trends and recent developments in insurance industry.
- Extensive knowledge of MS Office tools.
- Excellent problem-solving skills
- Good strategic orientation, creativity and innovation.
- Good stakeholder management skills
- Demonstrated commitment to ethical standards and high level of integrity.
- Excellent mathematical and statistical skills
- Excellent collaboration skills
- Strong knowledge of claims management
- Very good knowledge of company’s insurance policies
- Good risk management skills
- Strong understanding of insurance principles and practices
- Strong understanding of legal obligations and regulatory compliance
- Strong knowledge of loss adjustment
Method of Application
Interested and qualified candidates should send their Resume and Credentials to: careers@coronationinsurance.com.ng using the Job Position as the subject of the mail.
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