Jobs at International Energy Insurance Plc

Duties & Responsibilities
Reinsurance Strategy & Programme Design:

• Develop and implement the Company’s reinsurance strategy in alignment with underwriting philosophy and risk appetite.
• Structure proportional and non-proportional treaties across all relevant lines of business.
• Ensure optimal retention levels balancing profitability, solvency, and capital management objectives.
• Continuously review treaty adequacy based on portfolio performance and claims experience.

Treaty & Facultative Placements:

• Lead negotiation, placement, and renewal of treaty arrangements with local and international reinsurers.
• Coordinate facultative reinsurance placements for large or complex risks.
• Evaluate terms, pricing, security ratings, and capacity of reinsurers.
• Ensure competitive and commercially sound reinsurance protections.

Reinsurance Administration & Compliance:

• Oversee treaty documentation, slip preparation, cover notes, and contractual obligations.
• Ensure compliance with NAICOM regulations, retention rules, and credit risk guidelines.
• Maintain accurate reinsurance records and bordereaux management.
• Coordinate regulatory reporting requirements relating to reinsurance.

Recoveries & Claims Management:

• Oversee reinsurance recoveries and ensure timely collection of amounts due from reinsurers.
• Manage complex recovery negotiations and disputes.
• Monitor ageing analysis of outstanding recoveries.
• Work closely with claims and finance teams to protect cash flow.

Risk & Credit Management:

• Assess reinsurer security and counterparty credit risk exposures.
• Diversify reinsurer panel to mitigate concentration risk.
• Monitor treaty performance and exposures.
• Advise management on emerging risk issues affecting reinsurance structures.

Financial & Portfolio Impact:

• Analyse portfolio performance to optimise retention and cession structures.
• Provide reinsurance cost modelling and profitability analysis.
• Support actuarial, underwriting, and finance functions with risk transfer insights.
• Contribute to capital management and solvency considerations.

Stakeholder & Relationship Management:

• Manage relationships with reinsurers, brokers, and retrocession partners.
• Support underwriting teams on complex risk placement decisions.
• Provide technical guidance on reinsurance implications of new products or large risks.
• Represent the Company in reinsurance negotiations and market engagements.

Reporting & Performance Monitoring:

• Prepare periodic reports on reinsurance placements, recoveries, and exposures.
• Track treaty utilization, facultative placements, and reinsurance costs.
• Provide management with insights on risk retention and reinsurance efficiency.

Qualifications & Training

• Bachelor’s degree in Insurance, Actuarial Science, Finance, Accounting, Economics, or related field.
• Master’s degree (MBA/MSc in Insurance, Risk Management, or Finance) is an added advantage.
• Professional certifications such as: AIIIN, CIIN, ACII, etc.
• Training in reinsurance structures, risk modelling, and insurance analytics.

Skills & Abilities:

• Strong knowledge of reinsurance treaties, facultative placements, and risk transfer mechanisms
• Analytical and numerical skills for risk exposure and portfolio assessment
• Knowledge of underwriting principles and insurance regulations
• Negotiation and communication skills with reinsurers and brokers
• Strong documentation and attention to detail
• Proficiency in Microsoft Excel and reinsurance management systems
• High integrity and confidentiality handling capability

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Duties & Responsibilities

• Identify and assess enterprise-wide risks, including financial, operational, regulatory, strategic, and reputational risks.
• Prepare the company’s monthly enterprise risk report which includes the financial condition report and counter party.
• Collate, analyse, interpret and report the company’s key risk indicators, identifying the breaches and providing recommendations and mitigations to deviations in the KRIs.
• Conduct risk assessments and scenario analysis to evaluate the potential impact on the company’s operations.
• Maintain and update the company’s risk register, ensuring all risks are properly documented and monitored.
• Develop and implement risk mitigation strategies to address identified risks.
• Identify, analyze, and evaluate risks across various business units, including operational, financial, strategic, and compliance risks.
• Conduct regular risk assessments and maintain a risk register to track identified risks and mitigation strategies.
• Monitor and report on emerging risks, ensuring proactive risk management measures are in place.
• Ensure compliance with industry regulations, including NAICOM and other relevant regulatory bodies.
• Work closely with internal departments to embed risk awareness and improve risk culture within the organization.
• Conduct stress testing, scenario analysis, and risk modelling to assess potential business impacts.
• Assist in business continuity planning and crisis management strategies.
• Prepare risk reports and dashboards for senior management and key stakeholders, highlighting key risks and mitigation efforts.
• Support the development and execution of internal audit and control processes to minimize risk exposure.
• Assist in the development and continuous improvement of the IEI’s Enterprise Risk Management (ERM) framework.
• Promote risk awareness and best practices across the organization through training and workshops.
• Support the integration of risk management into strategic planning and decision-making processes.
• Monitor risk events and incidents, ensuring timely escalation and resolution.
• Support the development and testing of business continuity and disaster recovery plans.

Qualificational qualification & Training

• Bachelor’s Degree in Risk Management, Finance, Business Administration, Insurance, or a related field.
• Professional certifications such as CRM (Certified Risk Manager), CIRM (Chartered Institute of Risk Management), FRM (Financial Risk Manager), or related risk management certifications are an advantage.
• 5 years of experience in risk management within the insurance industry.

Skills & Abilities:

• Minimum of 5 years of experience in enterprise risk management, compliance, or a similar role, preferably in the insurance or financial services industry.
• Strong understanding of risk assessment methodologies, frameworks, and regulatory requirements.
• Experience in risk modelling, stress testing, and business continuity planning.
• Familiarity with regulatory bodies and compliance standards in the insurance sector.
• Strong analytical and problem-solving skills.
• Excellent communication and report-writing abilities.
• Detail-oriented with a proactive approach to risk management.
• Ability to work independently and collaborate with cross-functional teams.
• Proficiency in risk management software and data analysis tools.