Head, Actuarial Services at Coronation Insurance Plc

Job Title: Head, Actuarial Services

Key Duties and Responsibilities

• Analyse and evaluate which insurance products and services could meet complex client needs.
• Monitor the operation of delegated authority agreements, binding authorities and/or scheme. arrangements to ensure that organisational underwriting procedures and policy wordings are being followed.
• Monitor and guide actuarial performances against prescribed objectives and plans.
• Extract relevant data and applies appropriate statistical modelling techniques to produce valid initial analysis to achieve the intended objectives based on appropriate assumptions and rationale.
• Reviews analysis of loss experience and trends.
• Oversee processes of determining required premium rates, cash reserves and liabilities.
• Apply statistical analysis and predictive modeling to support development of rates, rating plans, pricing and portfolio management.
• Provide actuarial services according to the requirements of assigned business lines.
• Work with relevant units, e.g. underwriters, claims personnel, to plan for new lines of business or improve existing business.
• Monitor estimates produced and used by the team in product development and pricing.
• Review assumptions and methodology used in actuarial models.
• Review mortality and surrender risk calculation to ensure accuracy.
• Guide team members on actuarial matters.
• Provide professional advice to support corporate development by analyzing actuarial performances to effectively determine corporate development directions.
• Monitor and review operational plans and procedures for compliance.

Key Requirements Education and Work Experience

• Bachelor’s degree Insurance, Actuarial, Finance or related fields.
• Minimum of ten (10) years’ experience.
• Possession of relevant Professional certifications is an advantage.

Skills and Competencies:

• Ability to apply the principles of insurance to complex, unfamiliar situations.
• Demonstrates an understanding of how a range of situations may be affected by the principles of insurance.
• Ability to interpret relevant regulations, standards, and codes of practice relevant to the business.
• Knowledge of IFRS17 and experience in IFRS17 implementation is a plus.
• Ability to demonstrate a detailed understanding of complex policy wordings, extensions and/or limitations and their interpretation and application.
• Knowledge and ability to implement compliance procedures and controls.
• Ability to manage large workloads and tight deadlines.
• Able to apply advanced mathematical / actuarial concepts and techniques.
• Ability to use actuarial statistical software applications.
• Excellent relationship management skills, able to forge strong commercial relationships with internal and external stakeholders.
• Communication and Influencing skills.
• Data analysis and Interpretation.
• Attention to detail skill.

Application Instructions:

The application deadline is 20th June, 2025. Therefore, qualified and interested candidates should send their updated Resume to: [email protected] using the Job Title as the subject of the email.

Note: Only qualified candidates will be contacted. It is important to visit the official website (link found below) for detailed information on how to apply successfully for this vacancy.

Official Job Website : https://coronation.ng/institutional/about-us/coronation-insurance/