Chief Risk Officer

November 2, 2022

Job Description

  • Lagos

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. 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 the measurement, reporting and control of 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
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

To apply for this job please visit


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