Jobs at Coronation Insurance Plc

Principal Duties & Responsibilities

• Identify 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
• Recommend IT policy changes to support business needs
• Conduct analysis to assess IT controls and to monitor risk.
• Apply control testing requirements and how the company conducts this process as it relates to their area of responsibility
• Applies knowledge of IT controls, and their role in the enterprise to define audit approach, scope and plan.
• Scrutinize financial materials and recommends changes to business and accounting processes to minimize risk.
• Detect significantly deficient control deficiencies related to systems and applications.
• Utilize data analysis to perform tests where fraud likelihood is high.

Competencies & Skills Requirements

• Bachelor’s Degree in Information Technology or any related discipline.
• Possess of professional certifications such as Certified Information Systems Auditor (CISA)
• 5-7 years’ experience in similar role.
• In-depth knowledge of the industry’s standards and regulations.
• Excellent knowledge of reporting procedures and record keeping.
• Up to date Risk management practices and industry knowledge.
• Interpersonal skills.
• IT and Computer appreciation.
• Excellent written and Communication skills.
• Must be self-solution driven, proactive and have acceptable knowledge of the business environment

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Job Summary

• The primary objective of the role is to provide leadership and strategic direction of efficient use of the company resources in order to maximize shareholders return and meet other stakeholders’ expectations.
• This role will also be accountable for the financial operations of the company which includes the development of financial and operational strategy, monitoring of performance control systems which are designed to preserve the assets of the company, financial budgeting and tracking and strategic financial planning.

Principal Duties & Responsibilities
Strategy:

• Provide insight and recommendations to drive both short and long term growth strategies of Coronation Life Assurance Ltd
• Create and establish yearly financial objectives and targets that align with the Company’s growth plans
• Oversee the preparation of the company’s annual budget.
• Approve all capital requests and budgeting processes.

Investment:

• Oversee cash, investments and asset management
• Explore new investment opportunities and provide recommendation on potential returns and risks

Cash Flow Management:

• Manage Coronation Insurance’s cash flow planning process and ensure funds availability
• Use forward-looking models and activity-based analyses to provide financial insights into the organization’s plans and operating budgets
• Oversee Coronation Insurance’s cash management, approve large payables, sign checks
• Supervise accounts receivable management and provide guidance relating to the collection process

Performance Management:

• Assess and evaluate financial performance of Coronation Insurance with regards to long-term operational goals, budgets and forecasts
• Understand and mitigate key elements of Coronation’s risk profile
• Monitor all open legal issues relating to financial matters
• Develop appropriate key performance indicators to monitor and drive the financial performance of the company.

Stakeholder Management:

• In conjunction with Management and Board, provide guidance for the development and implementation of appropriate strategies for long term business continuity and delivery of shareholder values
• Recommend to the board an annual operating plan and financial budget that supports the company’s financial strategy.
• Negotiate with financial institutions and vendors concerning service lines agreements.

Regulatory Compliance and Reporting:

• Ensure that Coronation complies with all legal and regulatory requirements
• Report risk issues to the audit committee of the Board of Directors
• Design and implement policies and processes for internal control to minimize business risk and comply with local and internal accounting standards
• Coordinate the preparation of the company’s financial statements ensuring appropriate disclosures and supporting statements are included
• Review and approve, in consultation with the Head of Legal, the company’s annual and interim earnings releases, financial statements and management discussion and analysis.

Other Responsibilities:

• Motivate and lead the finance team members by clarifying roles and providing helpful feedback.
• Make improvements and updates for accounting systems, including payroll and invoicing.
• Monitor the company’s financial activities in respect of financial arrangements
• Ensure that safeguards are applied to mitigate threats that could hamper the true and fair view of the financial statements
• Oversee the development and implementation of finance policies and initiatives
• Perform other duties or responsibilities that may be reasonably required from time to time and in relation to services provided by the organization.

Minimum Qualifications

• Minimum of Bachelor's Degree in a Numerate discipline such as Finance, Accounting, Economics
• An MBA or relevant master’s degree in any business-related discipline.
• Relevant professional certifications such as Chartered Financial Analyst (CFA), Institute of Chartered Accountants of Nigeria (ICAN), or Association of Chartered Certified Accountants (ACCA) is required.
• 13-15 years’ post-graduation experience in Finance with at least 5-7 years in the insurance sector.
• Evidence of strong insurance industry knowledge.

Competencies & Skills Requirements:

• Strong verbal and written communication skills; strict attention to detail
• Excellent time management and multi-tasking abilities
• Comfort with ambiguity and uncertainty
• Drive and enthusiasm in getting things done.
• Industry Experience
• In-depth knowledge of Financial Reporting
• Understanding of regulatory compliance
• Experience in using relevant accounting software
• Knowledge of tax planning and management
• In-depth knowledge of International Financial Reporting Standards (IFRS)
• Leadership and People Management
• Financial and Business Acumen
• Strategic thinking
• Judgement and Decision-Making skills.
• Strong Interpersonal skills to manage broad based internal and external stakeholders
• Conflict Management skills
• Effective organisational and interpersonal skills including written and verbal communication skills.
• Highly organised with strong attention to detail and accuracy
• Strong organisation, follow up, analytical, problem-solving skills
• Extensive knowledge of MS Office tools
• Ability to work under pressure.

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Job Summary

• The job holder’s primary responsibility will be to develop and implement a risk management framework with appropriate tools for the measurement, reporting and control of Coronation Insurance’s financial and non-financial risks.

Principal Duties & Responsibilities

• Establish the Coronation Insurance framework in compliance with International risk management standards and principles
• Ensure risk profile is aligned to the return/profitability aspirations of the business
• Articulate overall Risk Management policy and strategy at enterprise level and for individual risk areas
• Communicate Risk Management policy and strategy to operating entities
• Establish infrastructure, systems and processes for identifying, managing, controlling and reporting risks across the business
• Define risk acceptance criteria and risk tolerance limits for each risk area
• Cascade company risk acceptance criteria and tolerance limits across the businesses
• Oversee Risk Management functions across the business and ensure compliance with Group policy and direction
• Implement and monitor divisional budget as prepared and agreed in line with business needs/goals/requirements
• Ensure compliance with policies, standards for regulations in reporting
• Provide visionary leadership and direction for the company and guide their activities to ensure the achievement of their current to medium term strategies
• Develop skills of and provide career development for direct reports
• Ensure the process of automating each risk areas key workflows
• Promote risk management culture in the Company to maturity level
• Establish integrated stress testing
• Establish economic capital framework and integrate across risk areas
• Perform other functions as assigned by the Managing Director

Minimum Qualifications

• Recognized professional certification such as CIIN, IRM, CFA, ACCA, ACA, etc.
• 13-15 years relevant experience
• Insurance industry experience will be an advantage
• Experience in a multi-national organization in emerging market will be an advantage
• Evidence of strong industry knowledge

Skills / Competence Requirements:
Required Knowledge, Skills & Abilities:

• Knowledge and understanding of Insurance Operations (International and domestic)
• Strategic orientation. Creativity & innovation
• Good policy development and management capabilities
• Financial Acumen
• Finance & Accounting
• Insurance Industry Knowledge
• Financial Industry Knowledge
• Knowledge and Understanding of Financial Regulations (Domestic & International)
• Knowledge and Understanding of Risk Management and Financial Standards
• Environmental / Industry Analysis

Generic Skills:

• Strategic Focus/ Orientation
• Integrity and Discretion
• Initiative/ Proactive
• Entrepreneurship
• Analytical skills / Problem-solving
• Resilience, Tenacity and Integrity
• Interpersonal skills
• Communication (oral & written)

Supervisory Skills:

• General managerial / administration.
• Leadership / Influencing.
• Organization & coordination skills.
• Coaching and people management.
• Conflict management.