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Number 1 Retail Life Insurer
aiicontact@aiicoplc.com 0201 279 2930 0700 AIIContact (0700 2442 6682 28)

Vacancies

A career at AIICO Insurance Plc. affords a truly unique experience which offers more than just the opportunity to work for a strong, stable and value- rich company. A career at AIICO is an opportunity to be part of a company with a strong legacy, a dynamic structure, a futuristic outlook and a company that continuously impacts the society in many positive ways.

AIICO affords its employees an unparalleled foundation on which to build their careers, creating the opportunity of being part of a bright, interesting and experienced team working together to chart new paths in the insurance sector. We offer not only an opportunity to build your career and realize your potentials but the rare chance to make a difference in the lives of our diverse clientele and the society at large.



THRIVE PROFESSIONALLY AND PERSONALLY AT AIICO INSURANCE PLC


At AIICO Insurance Plc., we believe in fostering an environment where individuals excel, both personally and professionally. We offer a comprehensive employee value proposition designed to empower you, support your well-being, and fuel your career aspirations.

We offer:

  • Stress-Free Work-Life: Hybrid work schedules, competitive leave, and reliable transportation.
  • Holistic Wellbeing: Health & wellness programs, and subsidized gym memberships.
  • Grow with Us: Sponsorship for professional certifications, coaching, learning and development opportunities, and more.

At AIICO, we recognize that our employees are our greatest asset. We are committed to fostering a supportive culture where you feel valued, respected, and empowered to achieve your full potential. Join us and embark on a rewarding career journey that makes a difference.

Currently Available positions

location

Lagos, Nigeria

Job Cateogry

Actuary Risk Analyst

Closing date

The role will mainly involve assisting with the day-to-day activities of the Valuations, Reserving and Financial Reporting section of the Actuarial Function. This section of the Actuarial Function provides crucial contribution to the sound financial management of the Company and Group.

Functions & Responsibilities

  • Valuation and Reserving Support; assist with the regular internal actuarial valuations of liability for Life and Non-Life Insurance SBUs; assist with analysis of profitability/surplus (AOS) surplus arising from the valuation for Life SBU and actual versus expected experience analysis for the Non-life SBU.
  • Embedded Value works; assist with the regular internal calculation of the Embedded Value for the Life SBU and analysis of change in Embedded Value (AOEV).
  • Aggregation of Results; assist with collation, review, and interpretation actuarial/business results for Insurance SBUs.
  • Financial Reporting Support: assist with providing the Finance Function all the relevant actuarial information and reports required to meet the Company’s/Group’s IFRS requirements (including IFRS17), statutory and other requirements.
  • Financial and Capital Modelling; assist with financial and capital modelling of business scenarios/projects to inform business decision making.
  • Product/Services Development and Pricing; assist with providing the Product and Services Innovation Section of Actuarial with technical support in existing products assessments and reviews, product lifecycle management and monitoring, new products pricing and review of premium rates for existing products for insurance subsidiaries in the Group.
  • Risk and Capital Management Support; assist with providing the Risk and Capital Management Section of Actuarial with necessary information and/or results to quantify financial risk (insurance, market, credit risks, etc.) and calculating the capital requirements for Insurance SBUs.
  • Reinsurance and Underwriting Support; assist with providing the Risk and Capital Management Section of Actuarial with necessary information and technical support to review of appropriateness, adequacy and cost efficiency of reinsurance and underwriting arrangements in place and/or formulating the same for Insurance SBUs.
  • Strategy and Business Planning Support; assist with providing the Business Performance and Analytics Section of Actuarial with technical support in business planning financial projections, strategy development and review, market and competitor analysis, and internal business/financial analysis.
  • ALM and Investment Strategy Support; assist with providing the Business Performance and Analytics Section of Actuarial with technical support in asset-liability management, in developing/formulating appropriate investment strategies and/or review of, and monitoring of investment strategies for Insurance SBUs.
  • Financial Impact/Gap Analysis; Assist the IFRS17 Project Owner(s) to undertake an IFRS17 financial/impact gap analysis (impacts to income statement(s), statement of financial position, cash flow statement impacts, accounting policy choices, disclosures, asset-liability management, capital management including use reinsurance, business planning, etc.) for the Company’s and Group’s (as applicable) financial statements.
  • The gap analysis report will be used to formulate a project plan to address the financial gaps identified, timelines, resources and budget required. This includes advice on the need or not for an IFRS17 external service provider support for this component of the project.
  • Experience Monitoring: assist with conducting claims experience analysis, expense investigations, persistency/business retention studies, and other relevant actuarial investigations for Insurance SBUs to inform business decisions and to assist in actuarial work.
  • Special Projects: participate in special projects as would be requested by the Head of the Actuarial Section and/or Management.
  • Systems Support; provide support in relation to insurance administration and actuarial systems where possible.

Skills / Competence Requirements

  • 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 skillfully
  • Be detailed and results oriented

EDUCATION AND EXPERIENCE

  • B Sc. /HND (Insurance, Economics, Statistics, Actuarial Science, or any related Discipline)
  • CIIN, CERA, CRA, MSc. CERA, CFA, CRA, ACA, MBA, MSc. would be an added advantage
  • Minimum of 6 years’ Experience in financial environment with at least 2 years in Middle Management level with responsibility in Actuary Risk Management and Control.

location

Lagos, Nigeria

Job Cateogry

System Control Officer

Closing date

To assist the team lead system control officer in assessing and advise the IT and business stakeholders on all the IT and System control best practices of the operations and processes to reduce risks and improve efficiency and financial profitability.

Role Complexity

  • To provide assurance to management that the Company’s internal control systems are adequate, effective and are operating as intended.
  • Monthly exceptions and activities report.
  • Provide a reasonable assurance on IT System security and functionalities.
  • Report of IT applications review.
  • Prompt detection of wrong or abnormal posting into System.
  • Quality of reports produce for decision making process

Functions & Responsibilities

  • Support all Internal Control assessment, operation Risk and execution of activities.
  • Gather and analyze data for key deliverables relating to effective execution of Internal Control Activities.
  • Conduct vulnerability and penetration assessment.
  • Develop a detailed understanding of the activity under IT risks and controls.
  • Assist in the recognition of key risk areas, incidents, control issues and assess their impact and recommend actions to enhance control.
  • Assess IT risks and internal control strengths and weaknesses. Develop Control Check List and work program.
  • Monitor the developed control check list for compliance and execute the work outlined in the work program.
  • Conduct various IT review in line with IT annual plan and other assigned tasks.
  • Advise IT and business stakeholders on control best practices within their processes to reduce risks and improve efficiency and financial profitability.
  • Prepares formal report, expressing opinions on the adequacy and effectiveness of the system and the efficiency with which control activities are carried out.
  • Document the work performed and conclusions, and appraises

Core Competencies

  • Proficiency in Audit Command Language (ACL) profecy
  • Strong MS Excel, Word, and Power Point skills.
  • Strong Analytical Skills.
  • Excellent oral and written communication skills
  • Structure Query Language (SQL)

Functional Competencies

  • A very strong experience in IT control/audit function technical departments of an Insurance company may also be considered
  • Ability to prioritize workload and meet deadlines
  • Meticulous and results-oriented, with the ability to strive in a fast-paced work environment.
  • Good presentation skills

EDUCATION AND EXPERIENCE

  • First degree in Computer science, Management information system or related disciplines
  • Professional Qualification (CISA, CRMA) would be an added advantage
  • Minimum of 1 year working experience in a control or Internal Auditing related role in a Financial Institution or External Audit and proficiency in SQL, ACL etc.

location

Lagos, Nigeria

Job Cateogry

GroupLife Underwriting Executive

Closing date

The Group Life underwriting role is a crucial role in assessing and evaluating risks associated with group life insurance policies. In this dynamic position, you will collaborate with various teams, including sales, customer service, and actuaries, to underwrite and manage group life insurance applications. Your analytical skills and attention to detail will contribute to our commitment to providing reliable and comprehensive insurance solutions to our clients.

Functions & Responsibilities

  • Preparation and sending out of Group Life quotations and Tender/ Bid to prospective Brokers and clients.
  • Ensure compliance with the KYC/CFT requirements of the company in respect of both new and renewal businesses.
  • Responsible for all medical underwriting issues
  • Drafting of policy wordings, clauses, terms and conditions for conventional and special schemes
  • Turn Quest Operations
  • Registration of New Business on Turnquest
  • Maintaining Life/Group Life Database Portfolio
  • Settling of Broker’s or Agent Commission
  • Client’s Services
  • Maintaining of Client’s Record
  • Preparation of Renewal Notice
  • Preparation of group life insurance certificate
  • Daily Input Of Transactions On Database (Turnquest)
  • Servicing of branches (Group Life Business)
  • Brokers Management
  • Preparation of weekly production report
  • Responsible for preparation of report and returns to the regulatory authority (NAICOM)

Core Competencies

  • Must have eyes for details, and must be able to work with little or no supervision
  • Must possess relationship management, analytical & problem-solving skills. Prompt processing of client requested as per agreed timelines
  • Good knowledge of the job
  • Negotiation and interpersonal skills
  • Proficient in the use of Microsoft Office Tools – Ms excel & Ms Powerpoint
  • Excellent verbal and written communication skills

EDUCATION AND EXPERIENCE

  • B.Sc./HND in any Science or Social Science course or any related field.
  • Appreciable progress in CIIN Professional Exam is an added advantage.
  • Minimum of 3 years of work experience as an underwriter.

location

Lagos, Nigeria

Job Cateogry

Head, Project Management Office (PMO)

Closing date

The Project Management Office (PMO) sits within the MD’s office. The Project Management Office is the standard setter for project management processes and approaches across the organisation, working with an agile approach to deliver a range of strategic and transformation projects. The Head PMO is a critical and trusted leadership role as the strategic support to the CEO and business leaders, working across all levels in the organisation to set project management standards and deliver strategic objectives using Agile approaches and to ensure goals and projects are completed within approved timeline.

In this role, you will help drive strategic business planning as we continue to double our growth year on year. This role will build and lead an effective team to deliver projects for the organisation, working closely with Heads of teams, the Senior Leadership team, and Executive Office. The Head of Project Management Office will also manage and provide ad-hoc support for integrated, income-generating, innovative programmes of work. This is a fast-paced, think-on-your-feet position as you interact and build key relationships with business leaders and executives across the organization.

Functions & Responsibilities

  • Lead the design and set-up of AIICO Insurance Plc’s project management office, establishing the PMO as a central function within AIICO Insurance Plc
  • Ongoing management and continuous improvement of the PMO, ensuring that AIICO Insurance Plc has the project management capabilities to deliver large complex projects across our internal operations and strategic implementation.
  • Serve as the overall enterprise Project Portfolio Manager and liaise with other interfacing business units to review, select, sequence and report change initiatives/projects to Executive Management
  • Oversee the management of a portfolio of cross-organisational strategic or transformational projects and programmes of work through all stages of a project life. Lead the Project Management office to ensure each project delivers quality outcomes, within agreed timelines and budget.
  • Provide flexible, best practise project management solutions for a variety of projects. Use appropriate tools, techniques, methodologies to deliver the best solution for the organisation –whether that be Agile, Waterfall or Scrum etc. approaches
  • Prepare, defend, and manage the operational budget of the PMO and adjust project constraints based on financial analysis.
  • Ensure effective project control, change control, risk management, budgets ,resources, and testing processes are developed, implemented, and maintained across the portfolio.
  • Identify and develop opportunities for process enhancement and subsequently building / supporting business cases for change.
  • Facilitate the speedy resolution/mitigation of all issues and risks encountered in the delivery of various projects.
  • Lead, motivate, coach, and monitor direct reports, business stakeholders and other project resources.
  • Lead the ongoing development of AIICO Insurance Plc’s project management methodology and toolkit.
  • Establish a consistent approach to oversight and performance reporting of large-scale projects.
  • Manage the central pool of project managers, leading the recruitment and onboarding of new project managers when relevant.
  • Establish and manage the project selection and initiation framework to ensure all proposed and ongoing projects are relevant and aligned with AIICO’s strategic objectives.
  • Resource planning and deployment of project managers to projects, working closely with colleagues across AIICO Insurance Plc to understand need for project management support.
  • Work closely with colleagues across teams to ensure that robust project management principles are embedded in key processes (e.g. programme development and mobilization)
  • Act as project management coach and advisor for team and senior colleagues across AIICO Insurance Plc
  • Drive Change management and adoption of changes from completed projects/change initiatives.
  • Establish and manage the Benefits Realization Framework for all projects within the organization.
  • Demonstrate and model a commitment to our shared values, behaviours, and inclusive practices.

Skills / Competence Requirements (Job Specific)

  • Broad business experience driving execution and adoption of key strategic programs across large teams.
  • Dedicated professional who leads through ambiguity and independently runs projects with minimal direction.
  • Excellent interpersonal skills and executive presence
  • Ability to work in a flexible manner in line with the organization’s objectives and willingness to undertake other duties as reasonably requested.
  • Experience working in a fast paced, always-changing, entrepreneurial environment.
  • Project management skills and experience
  • Excellent verbal, written, and presentation communication skills.
  • Proven ability to develop and lead the implementation of communications strategy, policy, and operational plans, to a successful outcome.
  • Strong financial analysis, budget planning, and management experience and skills

Other Soft Skills

  • Very comfortable with technology and digital tools.
  • A good listener, who does not talk too much.
  • A professional who understands boundaries.
  • A “technically” sound (technical can also be a generalist) individual, who is also of sound character.

Qualifications

  • B.sc / HND in project management, business, or any related management field.
  • Professional Certification in the project, business management or related management field would also be an added advantage.
  • Minimum of 7 years' experience supporting a CEO, business leaders, or other senior executives.
  • Assertive, take-charge personality
  • Strong project management and communication skills, both verbal and written.

location

Lagos, Nigeria

Job Cateogry

Assistant Manager, Benefits and Claims

Closing date

Responsible for leading the surrender, policy loan and partial withdrawal within the department. operational efficiency across the department.

Role Complexity

  • Plan and carry out sequential projects while considering contingencies and alternatives

Functions & Responsibilities

  • Lead surrender, policy loan and partial withdrawal team
  • Operational efficiency across the department to ensure Turnaround Times are met
  • Ensure surrender rates are reduced by 30%
  • Operational tasks
  • SOP Review and update
  • KPI Metrics for Claims Tracking
  • Loan recovery
  • NPF Withdrawal

Core Competencies

  • Communication
  • Avid learner
  • Flexibility and adaptability
  • Interpersonal skills
  • Leadership skills
  • Problem-solving skills
  • Team building
  • Emotional Intelligence
  • Time management
  • Commitment to excellence
  • Career focus

Functional Competencies

  • Informational Management
  • Training
  • Performance Evaluation
  • Numerical skill
  • Attending seminars and conferences

Qualifications

  • HND/B.Sc. in Insurance or related Social Sciences field with a minimum of upper credit and second-class upper honours, respectively.
  • M.Sc. or MBA would be an added advantage.
  • Professional Certification (ACIIN or ACII) would also be an added advantage .
  • 2-5 years of relevant experience.
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