Latest Jobs at Coronation Insurance Plc

Principal Duties & Responsibilities

• Negotiate with corporate customers on settlement amounts, terms and recovery actions in accordance with organization policies and procedures as well as applicable laws and regulations
• Communicate all claims decisions in a timely and appropriate manner and ensure that communication during the assessment process is regular, timely, and clearly documented.
• Determine if technical and/or high-value claims should be accepted based on results of claims analysis and reports from service providers
• Determine settlement amounts for technical and/or high-value insurance claims based on investigation outcomes
• Assess potential high-value fraudulent claims by evaluating documents and information collected against common indicators of frauds
• Interpret policy wordings and conditions to determine the validity of claims and advises the claimant accordingly
• Ensure claim matters are handled according to customer service standards and defined customer experience policies
• Review Key Performance Indicators (KPIs) relevant to each stage of the insurance claims process and propose recommendations to increase efficiency
• Identify claims trends to propose product design enhancements
• Determine appropriate modifications to business processes to ensure seamless transition and minimize resistance for claims handling
• Ensure accuracy of records and adherence to internal controls

Education and Work Experience

• Bachelor's Degree in Insurance or any related discipline
• Minimum of 7-9 years’ experience in claims with at least 3 years leading a team.
• Must possess a CIIN membership.

Required Skills and Competencies

· Demonstrate technical claims knowledge and experience

• Able to provide recommendations to improve claims operations
• Able to analyze claims records to evaluate efficiency and effectiveness of claims operations against predefined performance standards
• Able to improve efficiencies, effectiveness and compliance claims operations based on regular evaluation results
• Able to manage claims operations to ensure compliance with relevant policies and guidelines, as well as regulatory requirements
• Able to identify, adopt, and implement innovative solutions to claims management
• Leadership and communication skills
• Exceptional problem-solving and decision-making skills
• Proficient in Microsoft Office suite and core insurance software

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Principal Duties & Responsibilities

Financial Reporting Management

• Prepare and review the quarterly and annual reports (i.e. financial statements, footnotes, MD&A etc.) as well as ensures compliance with all IFRS reporting requirements.
• Develop and maintain a consistent formal process to support financial reporting.
• Maintain a calendar of quarterly deliverables to keep all filings on schedule.
• Ensure compliance regarding internal controls over external financial reporting and technical accounting.
• Work closely with external auditors as related to financial reporting and technical accounting matters.
• Complete all relevant IFRS disclosure checklists and challenges the appropriateness of disclosures.
• Monitor the development and applicability of emerging accounting and reporting rules as related to the potential impact on the company’s financial statements.
• Work collaboratively with managers and controllers, corporate finance team, internal audit, and others with a focus on technical accounting matters and policies.
• Complete, review, and/or oversee the completion of memorandums to document the company’s application of technical accounting matters.
• Work closely with tax team members as their projects relate to technical accounting matters.
• Identify and assess new risk areas that arise as a result of major projects or process changes and changes in accounting guidance and advise management to ensure appropriate application.
• Prepare financial results and regulatory returns for the company
• Prepare monthly accounts and draft control accounts to ensure the balance sheet is complete and the profit and loss are accurate
• Ensure annual regulatory filings along with statutory notes and disclosures
• Support in compiling an annual budget and medium-term plans and quarterly forecasts by partnering with business areas
• Implement improved financial reporting systems and processes. 
• Monitor core controls such as balance sheet reconciliations across the business.
• Ensure accurate and timely financial MI to senior management. 
• Ensure accurate and timely regulatory reporting to relevant authorities. 

 People Management

• Set performance objectives for team members in alignment with the strategic priorities of the company
• Provide guidance to team members and gives timely feedback to ensure continuous improvement in the quality of deliverables
• Motivate team members to maintain a high level of performance and excellent service delivery.

Key Requirements

Education and Work Experience

• Bachelor’s degree in Accounting from a reputable university
• 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.
• Previous relevant experience in insurance is required.
• Minimum of 8-10 years’ experience in financial accounting/reporting role in an Insurance company with a proven track record of outstanding performance

Skills and Competencies 

• In-depth knowledge of Financial Reporting 
• Excellent knowledge of Management Accounting
• 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) 
• Excellent Leadership and People Management skills
• Strong Financial and Business Acumen 
• Excellent Strategic thinking skills
• IFRS 17 implementation experience in an insurance company.
• Practical experience in the implementation of accounting system(s) in an Insurance company
• Proven Solvency II experience
• Extensive knowledge of MS Office tools
• Ability to work under pressure.