Team Lead, Property & Casualty and Health Insurance Risk Management at Alfred and Victoria Associates Full Time

Job Title: Team Lead, Property & Casualty and Health Insurance Risk Management

Location: Lagos

Job Profile

• To ensure the implementation and strengthening of the company’s P&C, and Health risk management framework and policies in line with Regulatory & applicable to the company’s standards
• To develop and implement consistent techniques and framework to systematically identify, assess, monitor, manage and report the most significant Property & Casualty and Health Insurance risks
• To support the CRO in daily processes and activities that alert management about new issues and risks evolution

Key Responsibilities

• Ensure compliance to Company, Regulatory, Organization Standards, Solvency II etc., policies, framework, and guidelines for risk management
• Ensure compliance to annual maturity targets and year-end updates of risk management scope, with particular focus on P&C and Health maturity models for onward delivery to the Regional risk management
• Develop monitor and provide reporting on risk appetite statements and limits (particular focus on P&C and Health Insurance)
• Escalate alerts and risk evolution to direct report and management.
• Ensure appropriate level of quantification, review of assumption changes, updates and validation or model with CRO and Regional risk management as applicable
• Ensure Insurance risks mapping, and indicators are developed and implemented
• Develop techniques and methodology to enhance expert second opinion on efficiency of actuarial reserves, underwriting, pricing etc.
• Provide second opinion on suitable investment strategy for new products – PAP (Product Approval Process) related work
• Provide second opinion and challenge Portfolio Reviews (New Business/Renewals/Referrals)
• Provide second opinion of the efficiency and completeness of the underwriting and reinsurance programs of the Organization (FAC and treaties)
• Support and provide second opinion on Catastrophic and Atypical losses, Capital Management etc.
• Ensure the regulatory accomplishment of risk management requirements
• Collaborate with first line to develop and implement policies and better internal controls for risk management
• Monitor policies above the Gross Underwriting Limits (GUL) for referrals.
• Oversee risk management framework for Product Approval Process (PAP), provide second opinion on products development (new and reviews), pricing, renewal, Volume risk, anti-selection, confirm product compliance to the Company’s UW guidelines and PAP Policy
• Provide strategic direction and leadership for the business development teams
• Demonstrate strong management and leadership skills, with emphasis on enabling the development of team members and encourage ownership and responsibility for their individual tasks.
• Effectively manage assigned teams for optimal productivity ensuring team development, performance levels and well being
• Participate in Risk Committees or other required Committees
• Understand and facilitate the human capacity and technical development needs of the Insurance Risk team
• Work closely and collectively with functional units to support management in ensuring their risks are identified, assessed, reported and managed
• Drive a sound risk culture, promoting open discussion within the business, debate and challenge across functional units. Independent peer review as a norm with regard to critical reports and decisions as well as proactive management of live/active risks and issues.
• Support the CRO in the execution of special projects relevant to Risk Management
• Support the CRO, Local Audit, Risk and Compliance Committee on key risk reporting as well as risk related matters, both technically and logistically
• Support the CRO in managing the day-to-day activities/operations of the risk management teams

Academic / Professional Qualification:

• Relevant First Degree in Statistics, Actuarial Science, Economics or Business Administration with professional English level.
• Associate Actuary, passed significant number of actuarial examinations and willing to become FSA/FIA/CERA

Work Experience:

• 7 – 10 years of applicable experience in the insurance or financial sector will be an added advantage

Required Skills & Competencies:

• Specialized and advanced math knowledge – Calculus, Statistics etc.
• Good knowledge and practical experience of financial theory, valuation, projection, actuarial modeling, actuarial control cycle, insurance products offerings (development, dependencies, features etc.), financial markets and instrument valuation
• Expert user of Office suite: Excel, Access, PowerPoint e.t.c
• Knowledge and use of programming language – VBA, R and SQL
• Relationship management and interpersonal collaboration, negotiation, and influence
• Strategic insight and integration
• Result oriented and solutions mindset
• Strong verbal and written communication skills and good presentation skills.

Remuneration
Very Attractive.

Application Closing Date
3pm on Friday, 4th November, 2022.

Method of Application
Interested and qualified candidates should send their tailored CV to: [email protected] using the Job Title as the subject of the email.

Note: Any application received after the closing date will be automatically rejected.