Jobs at Leadway Assurance Company

Job Purpose Statement

This role is responsible for providing technical support for:

• Actuarial valuations
• Actuarial insights and reporting
• Product design and pricing
• Economic Capital Modelling
• Other data analytics
   

This is a trainee role, where the holder will support the objectives of the actuarial department tensure company value is continuously created through the products offered tthe market and ensure achievement of strategic goals and business plans. This objective will be achieved through effective:

Mentoring and coaching by other staff.

• Contribution towards innovative product development and achievement of strategic goals and business plans.
• Maintenance of company solvency, averting loss in net asset position and contribution towards Embedded Value growth.
• Interactions with a wide range of stakeholders, including clients, agents and other departments of the company.

Key Accountabilities (Duties and Responsibilities)

Perspective

%Weight

Output

Financial

15%

• Product Pricing  and Design
• Actuarial modelling in relation tpricing and profit testing
• Support preparation of regulatory product approval documents
• Perform Profit Testing Value of New Business (VNB) calculations for product profitability assessment
• Internal business processes

50%

Experience Monitoring

Carry out experience monitoring in, but not limited to, the following:
Withdrawal rates

Mortality

Expenses

Claims – incidence and severity

Other data analysis for business insights
Actuarial Valuation

Perform the following actuarial calculations;
Liability Valuations Gross premium valuation (GPV)

Embedded Value (EV) calculations

Stresses for Economic capital assessment

Build actuarial and financial models, where required, for actuarial-related work

Support administration of the Life and Health Business Applications: Product set-up; Product reviews; and Testing of new developments on the Life and Health Business Administration Systems related tactuarial function

Business reporting Support preparation of business reports

Customer

21%

• Provide technical solutions with respect tpricing on special needs and policy quotes.
• Provide timely and adequate actuarial support, where required, tother Leadway subsidiaries/entities
• Learningandgrowth

14%

• Actuarial professional development
• Bridge knowledge and skill gaps by attending and participating in actuarial skills development programs
• Job Dimensions Reporting Relationships: jobs that report tthis position directlyand indirectly

 

Direct Reports

N/A

• Indirect Reports
• Actuarial Interns (NYSC Interns and Academic Interns)
   

Stakeholder Management: key stakeholders that the position holder will need toliaise/work with tbe successful in this role.

Internal

• Various functional heads within the business division
• Employees across all cadres
• Branch business
   

External

N/A

• Decision Making Authority /Mandates/Constraints: the decisions the positionholder is empowered tmake
• The role holder has opportunity tmake recommendations this direct reports on decisions that can have impact across the entire organization.
• Work cycle and impact: time horizon and nature of impact (Planning)

This role has various work cycle and impact grouping:

• Daily Actuarial Management: This drives effective use of the Actuarial Control cycle tmanage business risks.
• Actuarial services support for internal and external clients: This may involve working outside the office premises

Ideal Job Specifications

Academic:

• Bachelor’s Degree in Actuarial Science or any quantitative discipline from arecognized University.
• Successful completion of at least 1 actuarial professional exam.

Desired work experience:

• Minimum of 6 months in an actuarial or a financial analyst role.   
• Strong technical skills in Microsoft Excel (Advanced), Word, Access and PowerPoint.
• High degree of numeracy
• Strong written and verbal communication.
• Meticulous in preparing and checking work, paying close attention tdetail.
• Self-motivated, curious and pro-active approach twork.
• An appreciable degree of professionalism
• Ability tbe a self-starter and work cooperatively in a close team environment.

 

Leadway Assurance Core Values Behaviours (ISCORE)

• Integrity
• Honesty, probity and uncompromised service consistently at all levels and with all stakeholders Service
• A desire thelp or meet the needs of others. The ability trespond tthe changing needs of the customer while maintaining a high standard of quality Customer Focus
• Customer Focus is the willingness and ability tgive priority tcustomers, delivering high quality services which meet their needs Openness
• Objective, Honest and direct in communicating feelings and stance on any issue that would help advance a circumstance or issue Respect for Individual
• The ability thold each and every stakeholder in high esteem, and value their input in service/product development and delivery.

Excellence

• To continuously seek tprovide exceptional product and service tsupport aspiration for life and business with high impact results

 

Ideal Job competencies

• Good executionskills
• Able timplement strategies by thinking through steps ofimplementation, taking strategic decisions, actuarial judgment  andputting personal effort as needed Initiative

The passion of the actuarial trainee will need tdrive the company tothe future. Tconsistently deliver stable profit/earnings and cash flows in order to:

• Meet expected dividends
• Withstand shocks; and
• Service all liabilities
• Attention tdetail
• Meticulous in preparing and checking work, paying close attention tdetail.

Behavioural Competencies

• Results and Achievement Oriented
• Strives tachieve results, enjoys measuring others, beingmeasured, and being judged on performance standards and thoseof others he/she leads
• Appreciable degree of Professionalism
• Budding professional, capable of maintaining the ethics of the actuarial profession.
• Good Interpersonal Skills
• Strong inter-personal skills which encourages and promotesenthusiasm and team spirit
• Flexible and adaptable
• Ability to quickly adjust to new changing trends and remaineffective when faced with new challenges and responsibilities

Qualifications
 
Academic:

• Bachelor’s Degree in Actuarial Science or any quantitative discipline from a recognized University.
• Successful completion of at least 1 actuarial professional exam.

Desired work experience:

• Minimum of 6 months in an actuarial or a financial analyst role.   
• Strong technical skills in Microsoft Excel (Advanced), Word, Access and PowerPoint.
• High degree of numeracy
• Strong written and verbal communication.
• Meticulous in preparing and checking work, paying close attention tdetail.
• Self-motivated, curious and pro-active approach twork.
• An appreciable degree of professionalism

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Key Result Areas-Job Output (List the expected end results that must be achieved in order to fulfill the job purpose)
Tasks and Activities KRA’s (What are the key activities undertaken to achieve the desired end results?)
Renewals and New Policy

Process renewals and new policies.

Ensure issuance of debit notes to clients within agreed SLA

 
Scratch card and Brown card processing and administration

• Scratch card Management (physical cards in your custody)
• Allocate and activate batch numbers
• Retrieve provisional policy numbers and certificates
• Replenish brown card batch at agreed level of depletion

Process Improvement

• Ensure delivery based on agreed SLA
• Continual review of operating processes to deliver efficiency and encourage profitability at all times.
• Ensure compliance with regulatory guidelines to avoid penalties and fines.

 

Relationship Management

• Maintain positive and professional relationships with internal and external stakeholders.

Client data maintenance

• Ensure update and maintenance of client information that could be readily archived and/or retrieved.

MTA and Endorsements

• Ensure end to end process and delivery within agreed SLA

Claims notification

• Ensure immediate notification to claimsRegister@leadway.com

 
Qualifications

• Educational qualifications  & functional / technical skills
• A Bachelor's degree in Insurance or related field.
• Knowledge of Insurance laws and regulations as well as Global best practices.
• Relevant experience (type of experience and minimum number of years
• Minimum of 1 year in Technical or Operations
• Attitude and behavioural traits
• Strong analytical and problem solving skills.
• Ability to deal with ambiguity, tight timelines, multiple priorities, and demanding customers, in a fast-moving, constantly changing environment.
• High degree of professionalism, maturity and confidentiality.
• Very good interpersonal and presentation skills.
• Strong People skills- Building Collaborative Relationships, Highly developed, demonstrated teamwork skills.
• Oral and written interpersonal skills.
• Creative, forward thinking.

 

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Job Purpose Statement

Conducts evaluation of the company’s information system, internal controls and management procedures to ascertain accuracy, validity, effectiveness of controls, system reliability and data integrity.

Collects and evaluates evidence of the organization's information systems, practices, and operations to ensure whether the organization's information systems safeguard assets, maintains data integrity, and are operating effectively and efficiently to achieve the organization's goals or objectives

Key Accountabilities (Duties and Responsibilities)

Perspective

% Weight

Output

Financial

20%

• Identifies risks and weaknesses inherent in the company’s business processes, electronic transactions and make recommendations to management, on appropriate controls to put in place for prevention of fraudulent activities and revenue leakages.
• Deploys appropriate CAATs for data analysis, with the aim of identifying unusual transaction, and confirming data integrity.

Internal business processes.

53%

• Planning, managing and executing of IT internal audit procedures and the creation of internal audit reports on network security issues, secured application development, change management, database security, physical/server room security, user access rights management, incident and problem management, log management, business continuity and disaster recovery planning, etc.
• Conducts periodic business Applications reviews & Systems Interactions Audit to ascertain effectiveness of controls, level of system reliability and data integrity.
• Collaborate with project teams within the company/group and provide system review services and assistance to external auditors and other professionals that may be engaged by the company from time to time. Provides technical support and takes active part in cross-training with financial auditors, internal controls and ERM teams.
• Ascertains adequacy of and compliance with standards for system development, programming and analysis, data security and control, users’ procedures and system documentation.
• Take part in major IT initiatives and projects as well as in reviews of security systems and internal controls under development
• To ensure audit work plan is executed as planned
• To ensure work done is appropriately and completely documented.
• To ensure resolution of identified exceptions with prompt closure

Customer

16%

• Carries out periodic readiness test of disaster recovery arrangement and ascertains adequacy of back-up methodologies and contingency plans.
• Participate in the preparation of periodic report to MANCOM and Board Committee.
• Foster no surprises to management and the audit committee by ensuring that management and the audit committee are kept abreast of Governance, Risk and Compliance issues.
• To provide assurance to concerned third parties on the authenticity of documents issued by Leadway to its customers.

Learning and growth

12%

• Have knowledge-sharing culture that encourages IA team to work, collaborate and also execute a training session where IA team is educated and share knowledge.
• Participate in monthly peer group learning (PGL)

Job Dimensions Reporting Relationships: jobs that report to this position directly and indirectly

Direct Reports

•   Audit Trainees, Interns, Etc.
•    Indirect Reports

 NA

Stakeholder Management: key stakeholders that the position holder will need to liaise/work with to be successful in this role.

Internal

• Management team
• Various functional heads within the business divisions
• Employees across all cadres

External

• Regulator (NAICOM, NFIU, and EFCC)
• Third Parties (e.g. customers, brokers )

Decision Making Authority /Mandates/Constraints: the decisions the position holder is  empowered to make

• The role holder has responsibility for the execution of IA work plan.
• Also, the role holder provides significant support to actualize IA monthly knowledge sharing session.
   

Work cycle and impact: time horizon and nature of impact (Planning)

This role has work cycle and impact grouping:

• Work cycle: Annual Audit engagements, this takes responsibility for the execution of the scheduled tasks in IA work plan to meet department objectives.
• Impact: Provides assurance to the management and board on the Risk, Governance and control.

 
Qualifications
 
Ideal Job Specifications

Academic:

• Possess Bachelor’s degree in Computer Science, Information Systems, or in other related field.
• Possess any of the recognized certification in the industry, such as the Certified Information Systems Security Professional (CISSP) or the Certified Information Systems Auditor (CISA).

Desired work experience and skills:

• Possess at least 5 years of experience directly related to the duties and responsibilities specified.
• Knowledge of ACL is an added advantage

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Job Purpose Statement

This role is responsible as a technical reference point between Leadway Assurance Ltd and various Partners- Fintech, Insurtechs etc. to achieve the strategic objectives of the Company through the implementation of quality control checks on Insurance policies. The role entails building and maintaining close rapport between the company and its clients. To analyze risks and develop solutions for clients’ needs as well as collating, sorting, processing and interpreting any request relating to life and non-life business & operations.

The person will be responsible for Opex, Capex, volumes associated with job such as customer accounts and possible loss/impact on the company if an error occurs.

• Managing relationships between Leadway and our various partners.
• Increase Premium Income from various partners.
• Monitoring the operations of underwriting to ensure adequacy and effectiveness on all output.
• Supervising reconciliation that may arise from each partner.
• Ensuring the effective implementation of management policies and procedures
• Monitor Compliance with Regulatory / Statutory requirements.
   

Key Accountabilities (Duties and Responsibilities)

Perspective

% Weight

Output

Financial

70%

Drive business performance and operational excellence to ensure that;

• Adherence to monthly budget
• Adherence to quarterly budget
• Adherence to annual budget

Internal business processes

10%

• Ability to handle all enquiries coming from each partners and ensure timely processing of Insurance Requests.
• Regular Premium collection and processing in a timely manner to ensure financial targets are achieved.
• Regular tracking to ensure renewal of expired Businesses and partnership.

Customer

10%

• Ensure customer relationship management services of all partners.    
• Regular visit to partners on a weekly basis with the goal of ensuring there is no service failure emanating from Leadway.
• Work with the partners in setting yearly targets for the business and provide support to the partners that will ensure targets are achieved on a monthly and annual basis.
• Regularly ensure that transparent, professional and open communication exist between Leadway and Partners always.

Learning and growth

10%

• Train Staff of Aggregators, Fintechs, Insurtechs on partnership building with focus on building synergies between them and Leadway in ensuring that goals are achieved.
• Take up professional membership examinations with the ultimate goal of becoming qualified associate member.

Job Dimensions Reporting Relationships: jobs that report to this position directly and indirectly

Direct Reports

• Partnerships Officer(s)
• Sales Reps that may be located at the various Partners Business Premises as may be required

Indirect Reports

• Quality Assurance Officers
   

Stakeholder Management: key stakeholders that the position holder will need to liaise/work with to be successful in this role.

Internal

• Divisional Head, Retail
• Unified Digital Team
• Head, Microinsurance & Partnerships
• Executive Director, Business
• Various functional heads within the business division
• Employees across all cadres
• Branch Business Heads/Regional Directors

External

• Technology Regulators
• NAICOM
• Telcos
• Fintechs
• Insurtechs
   

Decision Making Authority /Mandates/Constraints: the decisions the position holder is empowered to make

• The role holder has significant influence over the engagement, sign up and development of Partners, Fintech, Insurtechs.
• The role holder has influence over the kind of businesses that should be accepted with focus on growth of the business and profitability.
   

Work cycle and impact: time horizon and nature of impact (Planning)

This role has various work cycle and impact grouping:

• Performance review: This will involve regular monitoring of budgeted numbers.
• Project management: This involves planning, initiating or leading projects that will provide the next phase of growth for the business.

Academic:

• Bachelor’s Degree or equivalent from a recognized University (Business Related preferred)
• Master’s Degree is added advantage.
• Insurance Professional qualification is an added advantage

Desired work experience:

• 10 years’ work-experience, 5 of which must be in a Sales function.
• Ability to develop and integrate organization’s strategies and initiatives with division strategies with supervision.
• Ability to function with minimal supervision as a negotiator to influence partners for better business relationship.
• Strength in problem solution in a sales driven environment.

Qualifications

Ideal Job Specifications

Academic:

• Bachelor’s Degree or equivalent from a recognized University (Business Related preferred)
• Master’s Degree is added advantage.
• Insurance Professional qualification is an added advantage

Desired work experience:

• 10 years’ work-experience, 5 of which must be in a Sales function.
• Ability to develop and integrate organization’s strategies and initiatives with division strategies with supervision.
• Ability to function with minimal supervision as a negotiator to influence partners for better business relationship.
• Strength in problem solution in a sales driven environment.

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JOB OBJECTIVE
 
(Please state why this role is required, how it fits into company strategy and ROI provided by virtue of this role.)

This role is responsible as a Technical Reference point between the LAC and its various Bancassurance partners/customers to achieve the strategic objectives of the Company through the implementation of quality control checks on policies, moreso, to ensure concise matching & upload of adequate premium for any classes of risk proposed. The role entails building and maintaining close rapport between the company and its clients. To analyse risks and develop solutions for clients’ needs as well as collating, sorting, processing and interpreting any request relating to life and non-life business & operations.

DIMENSIONS OF THE JOB:

• Managing the Retail / Bancassurance relationship between LAC and our various partners
• Increase Premium Income from various partners
• Monitoring the operations of underwriting of Bancassurance to ensure the adequacy and effectiveness
• Conducting various spot checks and review exercise across all business units.
• Supervising Daily bank reconciliation.
• Ensuring the effective implementation of management policies and procedures and also to Monitor Compliance with Regulatory / Statutory requirements.

KEY RESULT AREAS-JOB OUTPUT
TASKS AND ACTIVITIES KRA’S
Relationship Management:

• process by which business relationships are established
• Providing customer relationship management services to our Bank customers and account officers.    
• managed leading to the ultimate conclusion of transactions
• Ensuring adequate capturing of all Bank transactions via receipting and monthly reconciliation

Operations Management:

• Handling of  Enquiries
• Processing of Insurance Requests
• Premium Collection Processing
• Renewal of Expired Businesses
• Report Submission

Performance Management:

• Agree and set yearly target for each Relationship Officer
• Develop and ensure that each Relationship Officer achieves agreed yearly target
• Agree and set yearly volume  target for each partner bank
• Develop and Ensure monthly target of each partner is achieved
• Develop and Ensure addition of new partners yearly.
• Coordinate activities of Sales Support in ensuring that performance of Relationship officer and partners are met on a monthly and yearly basis.

 
Qualifications
 
KNOWLEDGE, SKILLS AND BEHAVIOUR (Required to succeed in Role)

Educational qualifications  & functional / technical skills

• A Bachelor's degree in Social or Management Science or related field
• A professional qualification of CIIN or Marketing related fields an advantage
• Advanced ability to develop and integrate HR strategies and initiatives with company's business strategies with minimal supervision to no supervision
• Excellent ability as a negotiator to influence our various partners for better business relationship
• Relevant experience (type of experience and minimum number of years
• Minimum of 7 years in Insurance, with at least 3 years of Management Experience. 

Attitude and behavioral traits

• Strong budget and management skills, including proven ability to coordinate project/process management.
• Ability to deal with ambiguity, tight timelines, multiple priorities, and demanding customers, in a fast-moving, constantly changing environment
• High degree of professionalism, maturity and confidentiality
• Very good interpersonal and presentation skills
• Strong People skills- Building Collaborative Relationships, Highly developed, demonstrated teamwork skills
• Strong oral and written interpersonal skills

go to method of application »

The ideal candidate is analytical, a problem solver and a critical thinker. As a Business Analyst, you will use your knowledge, skills, and abilities to solve organizational information challenges and will use your critical thinking skills to identify business requirements before translating them into detailed instructions for execution. The role will be responsible for collecting, demanding and documenting operational/working knowledge of various personal and commercial lines of insurance products/services and miscellaneous financial products and their business processes and compliance rules. It will require working with internal stakeholders (Technical, Operations, Unified Digital Services, Information Technology, ePMO, Finance, Customer Experience, and Commercial) to understand the processes within the business and modify as required, by proffering technology and/or non-technology solutions for improvement. You must have strong writing and communication skills and can build relationships with internal and external stakeholders and will perform a variety of critical tasks to support the day-to-day.

Objectives

• Analyze and define business requirements
• Collaborate with management in engaging stakeholder discussions to capture requirements and specifications based on such interaction with business users
• Identify any problems with the current business process model and be able to establish and implement solutions to optimize this
• Identify key stakeholders and understands how to work with them tailoring communication to their needs
• Develop process flow maps and data processing logic
• Oversee the implementation of approved process improvements
• Identify requirements, process gaps and overlaps across the business to proffer improved business solutions.
• Conduct ideation sessions with the internal team, for innovative solutions
• As a thought leader for business processes, create and implement plans for identified business projects that promote increased efficiency and productivity for business approval
• Perform, evaluate, and communicate thorough quality assurance at every stage of systems development
• Determine and develop user requirements documentation for systems production, to ensure maximum usability 
• Carry out training sessions and workshops to guide the business teams
• Carry out periodic quality checks

Ideal Job Competencies

• Strategic Thinker
• Understands the overall ambitions/ strategy of the organization, and how  the ambitions can be realized
• Critical Thinker and Inquisitive
• Analyze many business options and ensure the final solution meets every stakeholder’s needs and requirement. Ability to ask the right questions and probe till you get to a solution.
• Able to negotiate different standpoints and come into an agreeable  resolution particularly in engaging in discussions and driving change management
• Analytical and problem solving skills
•  Ability to communicate effectively and efficiently whether written or verbal
•  Ability to depict complex thoughts and processes into diagrams e.g. process flow maps, user cases, user stories etc.

Technical & Behavioral Competencies

• Results and Achievement Oriented
• Strives to achieve results, enjoys measuring others, being measured, and  being judged on performance standards and those of others he/she leads
• Good leadership & Interpersonal Skills
• Strong inter-personal skills and leadership ability, which encourages and promotes enthusiasm and team spirit
• Flexible and adaptable
• Ability to quickly adjust to new changing trends and remain effective  when faced with new challenges and responsibilities

 Qualifications & Academic:

• A good Bachelor’s Degree in the arts or sciences
• A master’s degree is optional
• A reputable and globally recognized Business Analyst certification

Desired work experience:

• Minimum 4 years relevant business experience