Reinsurance Officer 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.

We are recruiting to fill the position below:

Job Title: Reinsurance Officer

Location: Lagos
Employment Type: Full-time

Principal Duties and Responsibilities
Reinsurance Strategy:

• Direct the design, development and implementation of reinsurance programs and products through collaboration with internal business units (investment finance/management, actuaries) and external reinsurance organizations.
• Plan the company’s reinsurance programme to ensure timely negotiations of both treaty and facultative reinsurance with reinsurers and brokers.

Reinsurance Operations:

• Negotiate and update changes or amendments to treaty and facultative agreements approved by company management.
• Verify a variety of reinsurance accounts and liaises with Finance Department for remittance or reinsurance premiums in accordance with the contract requirements.
• Monitor and implement the department’s annual revenue and expenditure budgets to ensure that reinsurance requirements are adequately funded and control expenditure within budget.
• Verify details of claims on the company and submits them to the reinsurers to ensure that they meet their obligations promptly.

Risk Management:

• Review analysis of the company’s risk portfolios presented by primary underwriters and determine risks retention levels for the company.
• Establish and implement reinsurance companies risk acceptance criteria for reinsurance treaties.

Stakeholder Management:

• Review working relationships with and competence of the reinsurers and reinsurance brokers advising management on the need to continue the relationships.
• Liaise with the reinsurers and brokers with the view of securing technical assistance in underwriting and claims handling management.

Analysis and Reporting:

• Oversee analysis and reporting of the company's reinsurance agreements; summarizing errors and provide guidance on settlements made.
• Review research and analysis of reinsurance prices and specifications.
• Analyze and report on reinsurance business financials including loss trends by treaty and facultative placements
• Review and recognize gaps in the quarterly settlement process and propose solutions to improve the process and controls.
• Preparation of reporting reflecting all reviews and findings specific to the review of Coronation ceded reinsurance that directly impacts the net settlement.

Business Development:

• Market and accept inward reinsurance business for the company and secures the appropriate reinsurance protection for the business.

Technical Leadership:

• Serve on reinsurance project as team lead during all phases to include: configuration, conversion, migration, balancing, and testing.
• Reinsurance team lead on issues relating to due diligence and potential onboarding of new claim books with reinsurance attachments.

People Management:

• Recommend learning and development programmes required to build the capabilities of employees within the unit to ensure effective and efficient service delivery.

Minimum Qualifications

• Bachelor’s Degree in Insurance, Finance, Accounting or any related discipline.
• Master’s Degree in Insurance or related discipline would be an added advantage.
• Professional certification such as CIIN, ACCA, ICAN or relevant qualification.
• Minimum of 5-7 years relevant experience in insurance industry.

Competency and Skill Requirements:

• Strong Business Acumen.
• Excellent understanding of the local and global financial services industry.
• Excellent understanding of trends and recent developments in insurance industry.
• Extensive knowledge of MS Office tools.
• Excellent problem-solving skills.
• Strong strategic orientation, creativity and innovation.
• Strong stakeholder management skills.
• Exceptional communication skills – written, oral, interpersonal, and business presentation skills and the ability to effectively interface with senior management, and staff.
• Demonstrated commitment to ethical standards and high level of integrity.
• Strong risk management skills.
• Strong understanding of insurance principles and practices.
• Strong understanding of legal obligations and regulatory compliance.
• Strong leadership and people management skills.
• Strong finance and accounting skills.
• Strong knowledge of IFRS.
• Strong knowledge of Reinsurance.

Application Closing Date
20th August, 2025.

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