Head, Actuarial Services at Coronation Insurance Plc

Coronation is a leading financial service partner that helps build enduring legacies for sustainable wealth creation in Africa. Having established a 30-year record of achievements in banking across Africa and beyond, our founders established a Pan-African platform focused on building a better financial future for Africa. Today, our businesses are entrusted with our over $1billion of clients’ assets and are recognized as Nigeria's fastest-growing investment managers. Our purpose at Coronation is to create a prosperous future for our clients and the African continent. Coronation is proud to be an Equal Opportunity Employer. We enable an inclusive workplace by identity, disability, and other statuses protected by law.

Coronation Insurance Plc– an affiliated company to Coronation Group Ltd - is a leading insurance provider of a diverse range of products and services covering general and special risk businesses to individuals and corporate entities.

We are recruiting to fill the position below:

Job Title: Head, Actuarial Services

Location: Lagos
Employment Type: Full-time

Key Duties and Responsibilities

• Analyse and evaluate which insurance products and services could meet complex client needs.
• Monitor the operation of delegated authority agreements, binding authorities and/or scheme. arrangements to ensure that organisational underwriting procedures and policy wordings are being followed.
• Monitor and guide actuarial performances against prescribed objectives and plans.
• Extract relevant data and applies appropriate statistical modelling techniques to produce valid initial analysis to achieve the intended objectives based on appropriate assumptions and rationale.
• Reviews analysis of loss experience and trends.
• Oversee processes of determining required premium rates, cash reserves and liabilities.
• Apply statistical analysis and predictive modeling to support development of rates, rating plans, pricing and portfolio management.
• Provide actuarial services according to the requirements of assigned business lines.
• Work with relevant units, e.g. underwriters, claims personnel, to plan for new lines of business or improve existing business.
• Monitor estimates produced and used by the team in product development and pricing.
• Review assumptions and methodology used in actuarial models.
• Review mortality and surrender risk calculation to ensure accuracy.
• Guide team members on actuarial matters.
• Provide professional advice to support corporate development by analyzing actuarial performances to effectively determine corporate development directions.
• Monitor and review operational plans and procedures for compliance.

Key Requirements Education and Work Experience

• Bachelor’s degree Insurance, Actuarial, Finance or related fields.
• Minimum of ten (10) years’ experience.
• Possession of relevant Professional certifications is an advantage.

Skills and Competencies:

• Ability to apply the principles of insurance to complex, unfamiliar situations.
• Demonstrates an understanding of how a range of situations may be affected by the principles of insurance.
• Ability to interpret relevant regulations, standards, and codes of practice relevant to the business.
• Knowledge of IFRS17 and experience in IFRS17 implementation is a plus.
• Ability to demonstrate a detailed understanding of complex policy wordings, extensions and/or limitations and their interpretation and application.
• Knowledge and ability to implement compliance procedures and controls.
• Ability to manage large workloads and tight deadlines.
• Able to apply advanced mathematical / actuarial concepts and techniques.
• Ability to use actuarial statistical software applications.
• Excellent relationship management skills, able to forge strong commercial relationships with internal and external stakeholders.
• Communication and Influencing skills.
• Data analysis and Interpretation.
• Attention to detail skill.

Application Closing Date
20th June, 2025.

How to Apply
Interested and qualified candidates should send their CVs to: careers@coronationinsurance.com.ng using the Job Title as the subject of the email.