Insurance Officer at Dangote Industries Limited

Dangote Group is one of Nigeria’s most diversified business conglomerates with a hard – earned reputation for excellent business practices and products’ quality with its operational headquarters in the bustling metropolis of Lagos, Nigeria in West Africa.

We are recruiting to fill the position below:

Job Title: Insurance Officer

Location: DIL HQ, Lagos

Job Purpose

• This role is responsible for creating, managing, and administering the appropriate insurance risk strategy aimed at protecting WAEP's assets and business operations, specifically focusing on the recommissioning and start-up phase of the offshore facility.
• The incumbent ensures full compliance with NUPRC, NAICOM, and Joint Venture (NAPIMS/NNPC) requirements and also actively manages thenon-motor portfolio including Energy Package/Industrial All Risks, Marine, and liabilities.
• The role will be expected to have a good understanding of Insurance industry practices and possesexcellent interpersonal relationship in day-to-day business dealings with all stakeholders including WAEP staff, brokers, underwriters, marine superintendents, and loss adjusters.
• The role shall ensure our premium payments are processed timely and there in no gap in cover.

Operational Functions

• The Insurance Officer will manage the end-to-end insurance process, covering Placement, Claims, and Compliance.
• Risk Identification and Coverage: Identify the risks inherent in WAEP's recommissioning and production operations and ensure adequate, prudent insurance coverage for each identified risk.
• Negotiation & Review: Review, negotiate, and ensure that sum insured, clauses, exclusions, and other policy items/conditions are in order during placement, aiming for cost optimization without compromising coverage
• Policy Documentation: Review Policy documents for accuracy, correctness, and adherence negotiated terms (e.g., Territorial Scope, Deductibles, Limits)
• Reinsurance Compliance: Secure and document WAEP's allocation across NAICOM-licensed local insurers and ensure all local statutory requirements relating to insurance are complied with
• Contractual Review: Review and advice on contractual provisions relating to insurance in any WAEP contracts, including those with contractors and service providers.
  JV Alignment: Liaise with Joint Venture partners (NAPIMS/NNPC) to ensure insurance strategies and implementation on jointly owned assets are aligned with Joint Operating Agreements
• Claims Notification: Ensure timely notification of claims to brokers/insurers upon receipt from business units (target: within 7 days)
• Claims Substantiation: Vet all claims processing documents for proper substantiation and ensure collation of all required claims documents
• Liaison and Follow-up: Follow up with claims adjusters, brokers, and insurers to ensure timelysettlement of all claims
• Marine & Transit: Issue, receive, and dispatch all marine certificates and ensure monthly reconciliation of Marine/GIT declarations
• Premium Management: Prepare and follow up on premium payments upon receipt of debit notes, ensuring timely payment of insurance premiums to prevent any gap in cover
• Policy Record: Update payment and claims schedules regularly
• Risk Mitigation: Provide support on the identification of likely and actual insurance risks that may impede business strategy, ensuring timely and appropriate risk mitigation/transfer

Qualification and Experience Required

• Education: BSc / HND in Insurance, Law, Risk Management or other related field
• Experience: 5 -7 years in a similar position within the oil & gas industry or in an insurance or insurance broking firm.
• Minimum of 3 - 5 years in oil & gas/energy sector or Special Risks insurance programs is highly desirable.
• Certification: Membership of the Chartered Insurance Institute of Nigeria (CIIN) or equivalent would be an added advantage.

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online