WHO WE ARE
The United Nations World Food Programme (WFP), a highly prestigious, reputable and world’s largest humanitarian organization, operating in more than 120 countries and territories, bringing life-saving assistance in emergencies, building pathways to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change and supporting sustainable and resilient livelihoods for a world with zero hunger. At WFP, people are at the heart of everything we do and the vision of the future WFP workforce is one of diverse, committed, skilled, and high performing teams, selected on merit, operating in a healthy and inclusive work environment, living WFP's values (Integrity, Collaboration, Commitment, Humanity, and Inclusion) and working with partners to save and change the lives of those WFP serves.
WHY JOIN US?
- WFP is a 2020 Nobel Peace Prize Laureate
- WFP offers a highly inclusive, diverse, and multicultural working environment
- WFP invests in the personal and professional development of its employees through a range of training, accreditation, coaching, mentorship, and other programs as well as through internal mobility opportunities
- A career path in WFP provides an exciting opportunity to work across the various country, regional and global offices around the world, and with passionate colleagues who work tirelessly to ensure that effective humanitarian assistance reaches millions of people across the globe
- We offer an attractive compensation package (please refer to the Terms and Conditions section)
WFP’s Insurance function is a key part of the Operational Risk Mitigation Service (SCOR) which sits within the Supply Chain and Emergency Department. SCOR oversees WFP’s operational risk exposure and in coordination with relevant services, seeks to minimize and alleviate effects of uncertainty and maximize financial recovery in case of loss. SCOR develops and implements risk management and insurance programmes to respond to evolving organizational needs, offering wide ranging insurance programmes including:
- Self-Insurance Retention (Captive) Scheme of Goods in Transit, Cargo Insurance for Bilateral Shipments;
- Comprehensive Charterer’s Liability Insurance;
- Non-Owned Aircraft Liability Insurance;
- Cash-in-Transit Insurance; • Malicious Acts Life Insurance;
- Public, Products and Pollution Liability cover including Contingent/Excess Motor Liability;
- Personal Accident Insurance for WFP staff travelling aboard military or state aircraft:
- Commercial Crime Insurance. SCOR works with relevant services to design and implement effective risk mitigation solutions, provide preemptive guidance on practical loss prevention, coordinate the determination of causes of loss and damage and direct salvage reconditioning and disposal of any damaged cargo.
The Senior Insurance Officer will be based in the Operational Risk Management Service (SCOR) in Headquarters (Rome, Italy) and will report to the SCOR Director.
KEY ACCOUNTABILITIES (not all-inclusive)
- Assist the Director with directing the activities of the SCOR team, including the administration of corporate insurance programmes, and provide advice and guidance as necessary;
- Support the management of Self Insurance Retention (Captive) scheme in the areas of Own Risk and Solvency Assessments, financial accounting, actuarial analysis, and systems management, including the following functions:
- Prepare and maintain Captive’s financial and operational records;
- Prepare financial report analysis and claims trend analysis, and perform solvency monitoring of the Captive;
- Provide financial reports for the Captive’s manager and board of directors;
- Perform pricing/funding analysis and Captive/risk retention utilization to optimize value;
- Manage insurance data, claims statistics, administrate the insurance IT tool and ensure the reliability of insurance reports;
- Supervisory review of analytical work performed by primary analysts and necessary direct review of financial statements, audited financial reports;
- Review and approve specific financial transactions related to claims and recoveries;
- Manage the liaison with other sections of WFP in relation to insurance functions including insurance declarations, premium charging, claims settlements and integration of insurance system with other corporate systems;
- Coordinate insurance arrangements for major emergencies, particularly the establishment of loss reporting and adjustment and the lodging of Claims;
- Identify new insurable risks within the programme and make recommendations for the most appropriate risk management solutions combining both transfer and retention tools;
- Carry out research and provide advice and historical perspective to enable informed risk taking and practical measures to defray inevitable negative consequences;
- In conjunction with Brokers, conduct market research and identify the most suitable insurance coverage for a variety of matters and activities;
- Assist with the management of the annual insurance renewal process, including collection of accurate risk exposure data, consolidation and submission of data to Insurers;
- Provide specialized advice on insurance related matters to WFP Country Offices;
- Provide advice on insurance and risk related matters and respond to and resolve insurance related queries;
- Contribute to preparedness actions such as early warning, risk analysis and contingency planning and make recommendations;
- Periodically monitor the management of risks and report on any actions taken;
- Participate in field visits to promote increased awareness of potential liability exposure and proactive minimization of risk.
QUALIFICATIONS AND KEY REQUIREMENTS EDUCATION: •
- An Advanced University Degree (Masters Degree or equivalent) with specialization in insurance, risk management, actuarial science or related field, or a First University Degree with additional years of related work experience and/or trainings/courses;
- Professional qualification in insurance or risk management.
- At least 11 years of progressively responsible experience in the global risk / insurance industry with experience obtained in either a risk management corporate function, insurance company or brokerage firm;
- A minimum of 7 years of experience at a senior level in the management of self-insurance Retention schemes, Captives or other funded alternative risk transfer vehicles;
- Experience in undertaking operational risks and insurance assessments including ability to identify, analyze and assess key risk exposures and identify potential insurance or retention mitigants;
- Sound knowledge of and experience in insurance systems, insurance financial accounting and analytics;
- Experience in managing global commercial insurance programmes, including placing covers and renewals in major international markets.
ADDITIONAL / NICE TO HAVE REQUIREMENTS
- Experience in Captive insurance management;
- Experience in preparing and maintaining Captives’ financial and operational reports;
- Experience in the preparation of quarterly and annual financial reports for senior managers and regulatory bodies.;
- Experience with dispute resolution with Third Parties;
- Knowledge and experience in handling insurance contracts.
- Fluency (level C) in the English language;
- Intermediate knowledge (level B) of a second official UN language: Arabic, Chinese, French, Russian, Spanish, and/or Portuguese (A WFP working language)