Risk Management, Methods & Insurance Officer

Main Functions and Accountabilities

1. Support the implementation and monitoring of the company's risk management framework, policies, procedures, and standards.

2. Identify, assess, analyze, and evaluate potential operational, financial, contractual, and business risks.

3. Maintain and update the corporate risk register, ensuring that identified risks, mitigation measures, and action plans are properly documented.

4. Monitor risk mitigation plans and follow up with relevant departments to ensure timely implementation of corrective actions.

5. Support the development, review and continuous improvement of risk management methods, tools, processes and procedures.

6. Conduct risk assessments and prepare periodic risk reports, dashboards, and management presentations.

7. Coordinate insurance activities, including policy renewals, premium payments, claims processing, and insurance documentation.

8. Liaise with insurance brokers, underwriters, and other relevant stakeholders on insurance coverage, policy terms, and claims management.

9. Monitor the adequacy of insurance coverage to ensure that company assets, personnel, projects and business operations are appropriately protected.

10. Assist in the review of insurance policies and identify potential gaps in coverage, exclusions and areas requiring improvement.

11. Coordinate the preparation and submission of insurance claims, ensuring that supporting documents are accurate and submitted within required timelines.

12. Ensure compliance with applicable regulatory requirements, contractual obligations and internal risk management and insurance procedures.

13. Support internal and external audits by providing relevant risk management records, insurance documents, and compliance reports.

14. Promote risk awareness across the organisation through guidance, training and communication with relevant departments.

15. Perform other related duties as assigned by the supervisor or head of department.

Skills and Competencies

1. Good knowledge of enterprise risk management principles, frameworks and methodologies.

2. Strong risk identification, assessment, analysis and mitigation skills.

3. Understanding of insurance principles, policies, underwriting and claims management.

4. Knowledge of insurance brokerage, policy administration and contract management.

5. Strong analytical, problem-solving and decision-making skills.

6. Excellent report writing, documentation and presentation skills.

7. Good knowledge of risk assessment tools, risk registers and monitoring techniques.

8. Proficiency in Microsoft Office applications, particularly Excel, Word and PowerPoint.

9. Strong organizational, planning, and time management skills.

10. Excellent communication, interpersonal, and stakeholder management skills.

11. High attention to detail, accuracy, and confidentiality.

12. Ability to work independently and collaboratively across multidisciplinary teams.

13. Good understanding of regulatory compliance, corporate governance, and internal control processes.

Qualifications and Experience

1. Bachelor's degree in risk management, insurance, actuarial science, finance, accounting, business administration, Economics or any other relevant discipline.

2. Minimum of 3–5 years of relevant experience in risk management, insurance administration, corporate governance, internal controls, or a related field.

3. Professional certification in risk management or insurance will be an added advantage.

4. Relevant professional qualifications such as:

   • Associate of the Chartered Insurance Institute of Nigeria (ACIIN).

   • Chartered Insurance Institute (CII).

   • Risk Management Professional (PMI-RMP).

   • Financial Risk Manager (FRM).

   • Certified Risk Management Professional (CRMP).

5. Experience in the oil and gas industry or a similar high-risk operating environment will be an added advantage.

6. Practical experience in insurance claims administration, risk reporting, policy reviews, and risk mitigation monitoring