The Financial Reporting Manager will be responsible for overseeing the preparation, analysis, and submission of financial reports to various stakeholders, including regulatory bodies, senior management, and external auditors. This role requires a strong understanding of accounting principles, excellent attention to detail, and the ability to lead a team in a fast-paced environment. Manages the production of financial reports for a company, including corporate accounting and earnings reports presented to company directors, shareholders, auditors and regulators. Collects data from company financial analysts and accounting staff and presents, analyzes and manages filing of reports.

Functions & Responsibilities

• Lead the preparation of financial statements, including income statements, balance sheets, and cash flow statements, in accordance with IFRS standards.
• Ensure the accuracy, completeness, and consistency of financial data in the reporting process.
• Collaborate with accounting teams to gather necessary financial information and resolve any discrepancies.
• Stay current with financial reporting regulations and standards, ensuring compliance with relevant laws and regulations.
• Prepare and file regulatory reports accurately and on time, addressing any queries or requests from regulatory authorities.
• Coordinate and manage the annual external audit process, ensuring timely provision of information to auditors and addressing any audit findings or inquiries.
• Prepare audit schedules, reconciliations, and supporting documentation for audited financial statements.
• Implement and monitor internal controls related to financial reporting to safeguard the accuracy and integrity of financial data.
• Identify areas for process improvement and implement best practices to enhance efficiency and accuracy.
• Analyze financial data to identify trends, patterns, and anomalies, providing insights to senior management for informed decision-making.
• Collaborate with other finance teams to interpret financial results and explain variances in reporting.
• Prepare clear and concise financial reports and presentations for senior management and other stakeholders.
• Interface with other functional areas to ensure reporting integrity and accuracy.
• Report all findings to management with recommendations for improvement, and upon their approval, implement strategies to induce such change.

Competency Requirement

• Knowledge of industry-standard accounting principles, best practices, and procedures.
• Proven experience with process documentation of accounting procedures and internal controls in a dynamic environment.
• Ability to create a cost/expense allocation to appropriately share expenses across various projects, business units, reporting entities.
• Possess a thorough understanding of the financial reporting and general ledger structure.
• Knowledge of financial consolidations, eliminations, and segment reporting.
• Ability to read and interpret accounting rules and guidance as well as perform research and conduct investigations as necessary.

Qualifications

• Bachelor's degree in Finance, Accounting, Economics, or related field; Master's degree or professional certification (ACCA, CFA, CPA, etc.).
• Minimum of 7 years experience in financial analysis, performance management, or related roles, with at least 2 years in a supervisory or managerial capacity

Skills

• Excellent written and speaking skills including preparation and presentation of verbal and written reports, presentations, and recommendations.
• Ability to work independently and manage time effectively in order to meet individual goals and deadlines.
• Excellent time-management, multi-tasking, and prioritizing skills.
• Establish effective working relationships with others to successfully lead, mentor, coach, and motivate.
• Demonstration of the highest level of integrity and trust..

The Financial Performance and analysis Manager will play a crucial role in driving the company's financial performance through comprehensive analysis, reporting, and strategic insights. This role requires a combination of financial expertise, analytical prowess, and effective communication skills to provide actionable recommendations to senior management. The successful candidate will lead a team responsible for financial planning, budgeting, forecasting, and performance analysis.

Functions & Responsibilities

• Prepares periodic financial statements required for external reporting.
• Collects and analyzes financial data, ensuring that all reporting is in compliance with NAICOM, IFRS, SEC and GAAP reporting regulations and guidelines.
• Consolidates entries and accounts to be utilized in financial statements
• Prepares internal reports as required. Researches accounting rules and regulations and makes recommendations regarding company policy.
• Ensures smooth external audit processes.
• Maintains accuracy in all asset files, and balance sheets and provides support to all work papers and bank accounts.
• Manages schedules for all filing deadlines, assists in closing all procedures and ensures compliance with procedural and reporting standards.
• Participates in various educational opportunities, attends various conferences and updates knowledge efficiently.
• Troubleshoots on all financial reports, completes audits and identifies trends to determine improvement plans.
• Provides assistance to manage all ad hoc projects and assists management on all accounting activities.
• Performs systems reconciliations .

Competency Requirement

• Organised with attention to detail and ability to multitask.
• Autonomous work habits with demonstrated ability to make process improvements.
• Strong computer skills (Excel, Power points etc.)
• Strong analytical skills.
• A good knowledge of IFRS, NAICOM guidelines and SEC rules and regulations is required combined with the ability to research and give opinions on complex accounting issues.
• Strong understanding of industry trends, market dynamics, and regulatory changes

Education and Experience

• Bachelor's degree in Finance, Accounting, Economics, or related field; Master's degree or professional certification (ACCA, CFA, CPA, etc.)
• Minimum of 7 years experience in financial analysis, performance management, or related roles, with at least 2 years in a supervisory or managerial capacity

Knowledge and Skills

• Proven expertise in financial modelling, budgeting, forecasting, and variance analysis.
• Strong proficiency in financial software, Excel, and data visualization tools.
• Excellent analytical, problem-solving, and critical-thinking skills.
• Effective communication and presentation abilities, with the capacity to convey complex financial concepts to non-financial stakeholders.
• Ability to lead and develop a team, fostering a collaborative and growth-oriented environment.
• Attention to detail, accuracy, and a commitment to producing high-quality work.

The Insurance Risk Analyst is responsible for safeguarding the organisation, its customers, reputation, assets and the interests of stakeholders by identifying, analysing and managing all threats to the achievement of its technical performance objectives.

Functions & Responsibilities

• Developing, implementing and reviewing periodically the overall Insurance Risk Management and Control Framework, Process/Procedure and Risk Appetite.
• Reviewing the underwriting, Claim, Pre and Post loss and recovery processes and activities to provide assurance on the processes and procedures' adequacy and efficiency.
• Recommending changes to insurance policies to improve coverage or reduce costs based on new laws or regulations or changing circumstances in the industry.
• Conducting scenario and sensitivity analysis as required.
• Reviewing the product pricing, premiums vs Loss ratios to ensure profitability targets are met.
• Working with the Technical Teams to prevent financial losses resulting from technical operations and strategies.
• Evaluating insurance premiums and rate structures to determine if they are adequate to cover potential losses.
• Reviewing the adequacy of reinsurance arrangements/SLAs and the adequacy of the calculation of the best estimate of the amounts recoverable from reinsurance contracts.
• Assessing the company’s risk profile and underwriting policies.
• Conducting credit rating and assessment of reinsurers and Co-insurers.
• Assisting identify risks, including insurance, economic, and financial risks that may affect the company’s short-term and long-term objectives. Develop a strategy to respond to the identified risks in the most efficient manner.
• Develops, implements/ monitors implementation of Risk Management and Control Strategies, Risk Appetite, ALCO, ORSA Frameworks etc with respect to insurance risks.
• Contributing to ORSA report processy.
• Preparing detailed activity report as well as statutory, Board/Management Committees and Management risk management report appropriately.
• Participate in Independent ERM audit assignment.
• Any other responsibilities as may be assigned by the Head of Department from time to time.

Qualifications

• B Sc. /HND (Insurance, Economics, Statistics, Actuarial Science or any related Discipline).
• CIIN, CERA, CRA, MSc. would be an added advantage.
• Minimum of 6 years in a financial environment with at least 2 years in management level with responsibility in insurance risk management and control.

Skills

• Strategic and analytical thinking.
• Be able to understand complex edicts, regulation guidelines, insurance /Reinsurance products/guidelines, and financial legislation.
• Be able to work with time restraints.
• Effective written and verbal communication.
• Wide and comprehensive risk management knowledge.
• Have expert skills in insurance profession
• Be able to conduct meetings and presentations skilfully.
• Be detailed and results oriented.
• Be a strong negotiator.
• Superior management, leadership and supervisory expertise.
• Be professional, ethic and objective.

Generic Skills

• Negotiation.
• Presentation.

Supervisory Skills

• General managerial/administration.
• Team building/conflict management.
• Coaching.
• Leadership / Influencing.
• Performance Management.

Key Performance Indicators

• Efficient and effective monitoring and control of the probability and/or impact of unfortunate events.
• Quality (effectiveness and efficiency) of Insurance Risk Management and Control system.
• Efficiency of risks control processes in place.
• Ability to identify and control emerging risks to AIICO’s operations.
• Accurate management of Insurance and Reinsurance portfolio risks.
• Accuracy and timeliness of Risk Management reports rendition.

Retail Non-Life Underwriting team is seeking to recruit a young, self-motivated, and talented staff to join the team as a Non-Life Survey officer. The successful candidate will assist the rest of the team to identify business needs and implement plans to actualize the organization’s goals

Functions & Responsibilities

PRE-LOSS SURVEYS

• Prompt inspection of low and medium risks (properties/assets, Fire, engineering, and other lines)
• Identify inherent hazards associated with such risks (Private dwellings, offices, shopping complexes and industry risks, etc.)
• Consider and evaluate key risk parameters such as location, construction, hazards, protection, human elements, housekeeping, etc.
• Identify risk and mitigating measures on-site.
• Analyse the risks and proffer possible control measures (risk improvement recommendations).
• Determination of the EML of the risk is a key aspect of the assessment.
• Discuss risk improvement recommendations on-site with the insured’s representative.
• Follow up with the implementation of risk improvement recommendations and flag cases of non-compliance for the attention of Management.
• Communicate risk improvement recommendations to the insured/broker.
• Schedule follow-up visits to monitor compliance with RIR.
• Processing surveyors’ bills, Marine Superintending bills
• Preparing Monthly Pre-loss reports for audit use
• Pre-loss Inspection of Motor Vehicles

POST-LOSS SURVEYS

• Conduct on-the-spot assessment of incidents.
• Visit the incident site and get a brief of the incident through the insured’s rep.
• Investigate and determine fact(s) about the loss.
• Take pictures of incident
• For minor motor accidents, discuss and review estimates, where available, with insured’s garages
• Estimate quantum of loss and suggest tentative and reasonable reserve(s)
• Determine if there would be salvage.
• Promptly issue reports and communicate accordingly to all stakeholders within the business.

Education and Experience

• B.SC./HND Insurance
• B.Sc./HND in any other Science or Social Science course or any related field.
• Professional Certification (ACIIN or ACII) would be an added advantage
• Minimum of 2-3years’ experience as a Survey/Inspection officer, Underwriting experience will be an added advantage

Skills / Competence Requirements

• Excellent verbal and written communication skills
• Must have eyes for details, and must be able to work with little or no supervision
• Knowledgeable in Excel skills
• Must possess strong underwriting skills in non-life business
• Excellent interpersonal relationship skill
• Time management skill
• Proficient in the use of Microsoft applications and spreadsheets, Particularly Word, Excel, PowerPoint, and Project and InfoPath
• Must possess relationship management, analytical & problem-solving skills.
• Ability to work with little or no supervision.
• A self-starter and self-motivator.
• Ability to adapt to new environments.