Chief Risk Officer Job at Coronation Insurance Plc

November 2, 2022

Job Description


Chief Risk Officer Job at Coronation Insurance Plc – Coronation Insurance Plc. is a leading West African full-line insurance company offering a diverse range of products and services covering life, general and special risk businesses.

Chief Risk Officer Job at Coronation Insurance Plc

Chief Risk Officer Job at Coronation Insurance Plc

Founded in 1958, Coronation Insurance Plc is licensed to underwrite all classes of insurance, such as fire and special perils, goods-in-transit, all risk insurance, etc.



We are recruiting to fill the position below:

Job title: Chief Risk Officer (Life and Non-Life)

Location: Lagos
Reports to: Managing Director

Job Summary

  • The job holder’s primary responsibility will be to develop and implement a risk management framework with appropriate tools for measuring, reporting, and controlling Coronation Insurance’s financial and non-financial risks.

Principal Duties & Responsibilities



  • Establish the Coronation Insurance framework in compliance with International risk management standards and principles
  • Ensure risk profile is aligned to the return/profitability aspirations of the business
  • Articulate overall Risk Management policy and strategy at enterprise level and for individual risk areas
  • Communicate Risk Management policy and strategy to operating entities
  • Establish infrastructure, systems and processes for identifying, managing, controlling and reporting risks across the business
  • Define risk acceptance criteria and risk tolerance limits for each risk area
  • Cascade company risk acceptance criteria and tolerance limits across the businesses
  • Oversee Risk Management functions across the business and ensure compliance with Group policy and direction
  • Implement and monitor divisional budget as prepared and agreed in line with business needs/goals/requirements
  • Ensure compliance with policies, standards for regulations in reporting
  • Provide visionary leadership and direction for the company and guide their activities to ensure the achievement of their current to medium term strategies
  • Develop skills of and provide career development for direct reports
  • Ensure the process of automating each risk areas key workflows
  • Promote risk management culture in the Company to maturity level
  • Establish integrated stress testing
  • Establish economic capital framework and integrate across risk areas
  • Perform other functions as assigned by the Managing Director

Minimum Qualifications

  • Recognized professional certification such as CIIN, IRM, CFA, ACCA, ACA, etc.
  • 13-15 years relevant experience
  • Insurance industry experience will be an advantage
  • Experience in a multi-national organization in emerging market will be an advantage
  • Evidence of strong industry knowledge

Skills / Competence Requirements:
Required Knowledge, Skills & Abilities:

  • Knowledge and understanding of Insurance Operations (International and domestic)
  • Strategic orientation. Creativity & innovation
  • Good policy development and management capabilities
  • Financial Acumen
  • Finance & Accounting
  • Insurance Industry Knowledge
  • Financial Industry Knowledge
  • Knowledge and Understanding of Financial Regulations (Domestic & International)
  • Knowledge and Understanding of Risk Management and Financial Standards
  • Environmental / Industry Analysis

Generic Skills:

  • Strategic Focus/ Orientation
  • Integrity and Discretion
  • Initiative/ Proactive
  • Entrepreneurship
  • Analytical skills / Problem-solving
  • Resilience, Tenacity and Integrity
  • Interpersonal skills
  • Communication (oral & written)

Supervisory Skills:

  • General managerial / administration.
  • Leadership / Influencing.
  • Organization & coordination skills.
  • Coaching and people management.
  • Conflict management.

Application Closing Date
Not Specified.

Method of Application
Interested and qualified candidates should:
Click here to apply online