Recent Job Openings at Coronation Insurance Plc 

Role Summary

• The role of Head of Investment at Coronation Insurance will be to lead the delivery of strategic treasury capabilities that allow the organization achieve optimal business outcomes.

Principal Duties & Responsibilities

Business Advisory and Stakeholder Management

• Provide advisory to the Board of Directors, Executive Management, and other stakeholders on best-fit strategy, operational plan, working capital requirements, and liquidity management, by leveraging on own deep expertise in strategy, and knowledge of key environmental trends, internal dynamics/resources and operating environment.
• Build valued relationships with stakeholders at the strategic level, and assemble coalitions, to support long term business development.

Foreign Currency and Market Risk Management

• Develop strategy, policies, and tools to support the ongoing management of foreign exchange risk, liquidity and interest rate risks with the aim of mitigating the effects of volatility and unpredicted movement in market valuations (e.g. foreign currencies, interest rate).
• Manage the company’s foreign currency activities through the identification of FCY surpluses and deficits, and maintain oversight over intra-company trading activities, active management of FCY windows (i.e. Central Bank of Nigeria, and pre-qualified Bureau De Change services), administration of FCY inflows into the company, and handling of overseas remittances either on behalf of the firm (e.g. payment for software), or to offshore vendors.

Working Capital Management

• Define and manage the company’s strategy and processes for projecting, monitoring, analyzing, and optimizing its cash-flow, assets and liabilities through ratio analysis of operating expenses (e.g. working capital ratio, collection ratio), with the aim of ensuring the company is capable of continuing operations, and satisfying short-term debt, and upcoming operational expenses.
• Proactively engage various functions across the Company in respect to their capital/operating expenditure to determine periodic forecasts on working capital, provide cashflow forecast /position to Executive Management, and propose solutions where required.

Transactional Treasury Processes

• Oversee daily transactional treasury processes including (but not limited to) reviewing and authorizing disbursements & securities purchases / settlements across multiple bank platforms, ensuring clearance of Treasury-related transactions from bank reconciliations, approving fund management desk placement & settlement activities prior to receipt of Authorized Signatories approvals.
• Undertake daily review of Fund Manager’s reports (i.e. daily, weekly, and quarterly) prior to circulation, and driving the continuous improvement of treasury processes.
• Implement company’s policy on capital structure by ensuring an appropriate distribution between debt and equity to minimize cost of funds (CoF) and maintain CoF within the Company’s prescribed band.

Credit Management

• Manage the company’s business loan position with banks by negotiating legal and commercial terms of credit agreements (i.e. overdrafts, term loans, and Sale & Buy-back transactions) in alignment with the company’s interest, over-seeing the repayment of credit facilities, monitoring credit maturity (& roll-over processes, where necessary), monitoring adherence of loan repayments to agreed terms & conditions, and monitoring pledged collaterals, with the end objective of ensuring the organization derives maximum benefit from credit facilities, while avoiding credit defaults.

Manage Relationships with Financial Institutions

• Manage the organization’s relationships with other financial institutions (i.e. banks, fund custodians, trustees etc.), by negotiating favorable investment terms on behalf of the organization, escalating potential settlement failures to the Treasurers of other financial institutions to avoid unwanted outcomes, and managing the organization’s relationship with its designated banks.

Supports Team’s Development

• Provide leadership, direction, and coaching to the Investment Team towards the effective delivery of the department’s agenda.

Competencies and Skills Requirements

Knowledge

• Macroeconomic Analysis
• Market and Regulatory Environments

Skills

• Strategy
• Treasury Management
• Business Acumen

Behavior

• Analytical Thinking
• Entrepreneurship
• Relationship Building for Influencing
• Leading and Developing Others
• Drive for Results

Qualifications and Experience

• A minimum of a Bachelor’s Degree from an accredited university
• Advanced business degree (preferably an MBA) is an added advantage
• Minimum of twelve (12) years relevant experience in Investment within a financial services company.
• Professional certification in finance and/or accounting from a recognized professional body (e.g. CFA, CGMA, ACCA, ICAN etc.)

Key Roles and Responsibilities

• Assess potential high-value fraudulent claims by evaluating documents and information collected against common indicators of frauds
• Negotiate with retail customers on settlement amounts, terms and recovery actions in accordance with organisation policies and procedures and applicable laws and regulations
• Communicate all claims decisions in a timely and appropriate manner and ensure that communication during the assessment process is regular, timely, and clearly documented.
• Determine if technical and/or high-value claims should be accepted based on results of claims analysis and reports from service providers
• Determine settlement amounts for technical and/or high-value insurance claims based on investigation outcomes
• Interpret policy wordings and conditions to determine the validity of claims and advises the claimant accordingly
• Negotiate with corporate customers on settlement amounts, terms and recovery actions in accordance with organisation policies and procedures and applicable laws and regulations
• Ensure claim matters are handled according to customer service standards and defined customer experience policies
• Review Key Performance Indicators (KPIs) relevant to each stage of the insurance claims process and propose recommendations to increase efficiency
• Identify claim trends to propose product design enhancements
• Determine appropriate modifications to business processes to ensure seamless transition and minimise resistance for claims handling
• Ensure accuracy of records and adherence to internal controls
• Maintain compliance frameworks, policies, and procedures to reflect changing regulatory requirements and organisational compliance strategies.

Education and Experience

• Degree in Finance, Insurance or related discipline.
• Minimum of 5 years’ experience in the insurance industry with relevant experience in the same capacity.
• Possession of a Professional certification is an added advantage.

Skills and Competencies requirements

• Demonstrates technical claims knowledge and experience
• Able to provide recommendations to improve claims operations
• Able to analyze claims records to evaluate efficiency and effectiveness of claims operations against predefined performance standards
• Able to improve efficiencies, effectiveness and compliance claims operations based on regular evaluation results
• Able to manage claims operations to ensure compliance with relevant policies and guidelines, as well as regulatory requirements
• Ability to identify, adopt, and implement innovative solutions to claims management
• Leadership and communication skills
• Exceptional problem-solving and decision-making skills
• Proficient in Microsoft Office suite and core insurance software

Deadline: Sep 17, 2023.

How to Apply: Interested and qualified candidates should forward their CV to: [email protected] using the position as subject of email.