Head, Enterprise Risk Management & Strategy at International Energy Insurance Plc

International Energy Insurance (IEI) Plc commenced business as Nigeria’s first Energy-focused Insurance Company, experts in first class underwriting solutions for offshore and onshore risks, as well as general insurance business. The Company’s security is backed by a consortium of local and foreign re-insurers led by African Reinsurance Corporation. We are licensed and regulated by the National Insurance Commission (NAICOM).

We are recruiting to fill the position below:

Job Title: Head, Enterprise Risk Management & Strategy

Location: Lagos

Responsibilities

• Develop, implement, and continuously enhance the company’s Enterprise Risk Management Framework in line with NAICOM risk-based supervision requirements and global risk management standards.
• Lead the formulation and periodic review of risk policies, risk appetite statements, limits, and control frameworks.
• Ensure strong governance and reporting to the Board Risk Committee and Executive Management.
• Oversee identification and evaluation of underwriting, market, credit, liquidity, operational, strategic, and compliance risks.
• Conduct regular risk assessments, scenario analysis, stress testing, and capital adequacy evaluations.
• Ensure early identification of emerging risks and recommend appropriate mitigation strategies.
• Implement and track risk mitigation plans in collaboration with functional units.
• Oversee the development of risk registers, Key Risk Indicators (KRI)s, and loss event tracking mechanisms.
• Drive compliance with NAICOM’s prudential guidelines, solvency frameworks, reinsurance requirements, and corporate governance codes.
• Prepare risk dashboards, reports, and insights for Management, Board Committees, and regulators.
• Support NAICOM examinations, compliance reviews, actuarial exercises, and external audits.
• Monitor compliance with IFRS 17 disclosures and their risk implications.
• Lead the Business Continuity Management (BCM) program and disaster recovery frameworks.
• Conduct periodic drills to ensure organizational resilience and regulatory alignment.
• Lead the development and periodic review of the company’s overall corporate strategy, 3–5 year corporate plan, and annual operating plan.
• Conduct environmental scanning, competitive analysis, market research, and performance forecasting.
• Translate strategic priorities into actionable initiatives, KPIs, milestones, and implementation plans.
• Monitor performance across business units and provide insights to improve profitability, market share, and operational efficiency.
• Support alignment between strategy, budgeting, and capital allocation.
• Track and report on strategic initiatives, financial performance, underwriting performance, and operational KPIs.
• Conduct variance analyses and recommend corrective actions to leadership.
• Champion organizational modernization, digital transformation, and process optimization initiatives.
• Lead strategic projects including business expansion, partnerships, new products, and operational restructuring.
• Identify new revenue opportunities and value-creation levers in line with industry trends.
• Lead, mentor, and develop the ERM & Strategy team to enhance capability, analytical depth, and execution effectiveness.
• Promote a risk-aware and performance-driven organizational culture.
• Collaborate with all business units to embed risk management and strategic alignment across the company.
• Liaise with regulators, reinsurers, brokers, auditors, and rating agencies on risk and strategic matters.

Requirements

• Bachelor’s Degree in Risk Management, Insurance, Economics, Actuarial Science, Risk Management, Finance, Business Administration, or a related field.
• Master’s Degree or professional qualification (ACII, FCII, MBA, or related strategy and risk credentials.) preferred.
• Minimum 8 years progressive experience in risk management, corporate strategy, actuarial, financial analysis, or related functions at least 4 years in a senior or managerial role.

Skills:

• Experience in the insurance or financial services industry is mandatory.
• Strong knowledge of NAICOM regulations, IFRS standards, solvency requirements, and risk-based supervision.
• Strong understanding of risk assessment methodologies, frameworks, and regulatory requirements.
• Strong analytical, quantitative, and modeling abilities.
• Solid knowledge of insurance underwriting, claims, reinsurance, investment, and financial performance metrics
• Ability to conduct scenario analysis, stress testing, and capital modeling.
• Strategic thinking, business acumen, high ethical standards and sound judgement
• Excellent communication, presentation, and stakeholder engagement skills.
• Strong leadership, coaching, and team-development capability.

Application Closing Date
Not Specified.