Director, Risk Management & Compliance

Headquarters
Lagos, Nigeria
Closing date for applications 2019-02-28
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Introduction of the Corporation

The African Reinsurance Corporation (Africa Re) is the leading pan-African reinsurance company, the largest re-insurer in Africa and the Middle East in terms of net reinsurance written premiums and among Top 40 Global Reinsurance Groups by 2018 S&P Ranking.

Headquartered in Lagos (Nigeria) with diplomatic status in its current 41 African member countries, Africa Re operates through six (6) Regional Offices across Africa: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Port Louis (Mauritius) as well as one (1) Contact Office in Addis Ababa (Ethiopia). It also has two (2) Subsidiary Companies - Africa Re South Africa Ltd in Johannesburg (South Africa) and Africa Retakaful and in Cairo (Egypt).

Africa Re has a broad-based shareholding of 41 African member States; the African Development Bank; 111 African insurance and reinsurance companies; and four (4) non regional shareholders, including leading global insurers, reinsurers and international finance institutions.

The Financial Strength and Credit Rating of Africa Re is A (Stable Outlook) by A.M. Best Company and A – (Stable Outlook) by Standard & Poor’s.

Job Grade & Duties

Africa Re announces the vacancy of the position of Director, Risk Management & Compliance in her Head Office in Lagos (Nigeria) on the Executive Staff Grade level.

RESPONSIBILITIES

Reporting directly to the Group Managing Director/CEO, the Director, Risk Management & Compliance will provide the overall leadership, vision and direction for Risk Management & Compliance across the Corporation.

DUTIES/JOB DETAILS

The duties of the Director, Risk Management & Compliance shall comprise amongst others:

• Review and report on compliance with the Corporation’s underwriting policies and guidelines to ensure strict compliance to the set guidelines.

• Review and report on the overall profitability for the year under review as well as the profitability by cedant and by line of business,

• Risk identification and reporting across the Corporation,

• Development of risk management strategy, principles, framework and policy

• Implementation of appropriate risk management processes and methodologies

• Advice and coaching to production centres on risk management,

• Co-ordinate appropriate and timely delivery of risk management information,

• Co-ordinate the rating process with Rating Agencies,

• Attending to any other duty as may be assigned by the Corporation’s executive management from time to time.

Location

The successful candidate shall be based in Lagos (Nigeria).

Main Competencies

MAIN COMPETENCIES REQUIRED FOR THIS POSITION

• Strong theoretical and practical knowledge of Enterprise Risk Management in the re/insurance industry

• Very good technical knowledge of the classes of business (underwriting and claims).

• Professional technical competence in Insurance and Reinsurance

• Working knowledge of data sources in (re)insurance industry

• Good skill in business software tools: Word, Excel, Power Point, RMS.

• Ability to work well with all levels of management and across group operations

• Strong team player and proven leadership and managerial skills/experience;

• Excellent analytical, planning and reporting skills;

• Capacity for synthesizing and reasoning;

• Well-developed communication and interpersonal skills;

• Impeccable bias for action and strategic disposition;

• Customer focused;

• Unquestionable integrity and proven sense of responsibility

• Ability to work under pressure

• Excellent computer skills required in Microsoft Office (Word, Excel, PowerPoint, RMS etc.)

Academic Qualifications

QUALIFICATIONS AND PROFESSIONAL EXPERIENCE

Applicants shall be holders of

• Bachelor in Risk Management, Insurance , Actuarial Science or related field plus Masters or equivalent, and post-graduate in relevant field from a recognized university, plus 11 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions

Or

• Bachelor in Risk Management, Insurance , Actuarial Science or related field from a recognized university plus full Professional Qualifications , plus 11 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions

Or

• Bachelor in Risk Management, Insurance, Actuarial Science or related field from a recognized university plus 14 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions.

• Professional membership of an internationally recognized association will be an added value

• Relevant work experience in the financial services sector and/or in international finance institutions or at similar level is required.

Salary & Benefits

SALARY AND BENEFITS

The successful candidate shall have the following benefits:

· Competitive Basic Salary on the Corporation’s Executive Staff Grade Level

· Variable pay (Annual Performance Bonus)

· Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer)

· Children education subsidy for each child up to 26 years (maximum 4 children)

· Medical cover for staff and family;

· Housing Allowance

· Home leave to country of origin every year paid by the employer (if non-national) ;

· Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation, paid in local currency.

Other Information

Added Advantage:

• Being an Actuary

• Having worked in a reinsurance company as an ERM Officer/Manager capacity

Additional Requirements

Applicants must also be:

• Fluent in English or French

• Good working knowledge of the other language will be an added advantage.

Procedure for Application

PROCEDURE FOR APPLICATION

Interested candidates for this positions are requested to visit the Africa Re website (http://www.africa-re.com/en/current-vacancies) to complete the employment form and upload their curriculum vitae (CV).

The Company reserves the right to appoint at the advertised level or at any other level that may suit the profile, qualifications and experience of the successful candidate.

Closing date for submission of applications: February 28, 2019.