Head, Insurance and Risk Mitigation – COVAX (Temporary)

We are committed to fostering a just, equitable and diverse culture free from racism and discrimination in which all staff, partners and stakeholders feel empowered, safe and heard.

Gavi, the Vaccine Alliance is a public-private partnership committed to saving children's lives and protecting people's health by increasing equitable use of vaccines in lower-income countries. The Vaccine Alliance brings together developing country and donor governments, the World Health Organization, UNICEF, the World Bank, the vaccine industry, technical agencies, civil society, the Bill & Melinda Gates Foundation and other private sector partners. Since 2000, Gavi has contributed to the immunisation of nearly 822 million children and the prevention of more than 14 million future deaths. At the Global Vaccine Summit in June 2020, world leaders pledged more than $8.8bn to ensure Gavi can immunise another 300 million children by 2025. 

The COVAX Facility (“COVAX”) provides a global solution to the equitable distribution of vaccines to the 190 participating countries and economies. The COVAX Advance Market Commitment (AMC) is an innovative financing instrument that supports the participation of the 92 low and lower-middle income economies in COVAX. Self-financing participants (SFPs) have entered COVAX either as Optional (having the possibility to opt-out of a particular vaccine) or Committed Purchasers. Guided by the WHO fair allocation framework, COVAX will equitably distribute doses to help protect the most at-risk groups. Gavi is working with Alliance partners UNICEF and WHO to ensure that the infrastructure is in place, and the technical support available, for COVID-19 vaccines to be safely delivered to all those who need them.

BACKGROUND

Gavi is committed to securing a global response to COVID-19 that is effective and fair, using its unique expertise to help identify and rapidly accelerate development, production and delivery of COVID-19 vaccines under the principle that no one is safe unless everyone is safe.

COVAX facility introduced new business activity and risk into Gavi’s activities. In response, Gavi is using risk mitigation measures, including insurance products. These currently include: no-fault-compensation (NFC) and Sovereign Risk Arbitral Award Default insurance (‘SRI’) for a portion of COVAX self-financing-participants (‘SFPs’) with Marsh and DFC - International Development Finance Corporation. The SRI will wind down relatively quickly (estimated by Q2 2022), unless there is (1) a default and need to go through the arbitration process or (2) extension of the current model for SFPs. Additionally, Gavi is working on Vaccine Delivery Risk. While other insurance products are under consideration, that may or may not relate to COVAX. Yet the individual may be asked to provide support.

This senior role will take the lead on the COVAX risk mitigating / insurance-based product development and existing insurance products related to the COVAX Facility, in cooperation with and support from other areas of Gavi (COVAX Office, Innovative Finance, Country Teams, Legal, Finance and Operations and Risk Management), as well as manage the ongoing relationship and interface with insurance providers.

Key duties include:

• Existing Insurance Operations (SRI and NFC):
  • Owner and manager of relationships with external insurance partners (Brokers, insurance underwriters, etc.);Responsible for overseeing development, implementation and maintenance of insurance programmes related to Gavi’s vaccination programmes, specifically, COVAX (policies, cover, internal and external processes, including claims processes);
  • Negotiation on Gavi’s behalf with insurance brokers/ companies;
  • Establish process and procedures required for full operational aspect of and compliance with insurance policies, including validating and maintaining the SRI operational manual;
  • Maintain and ensure effectiveness and adequacy of existing coverage and reviewing and assessing new insurance requirements to ensure appropriateness and completeness of coverage (Quarterly adjustments for SRI);
  • Ongoing reporting to insurers as required by policies;
  • Tracking of counterparty credit worthiness and exposure levels to the underlying insurance companies.
  • Establish and manage necessary internal procedures for insurance, including reporting, investigation and processing of claims;
  • Manage / Oversee claims processes / directly or through third party;
  • Internal reporting and analysis of insurance coverage, claims and recoveries.
• Delivery Risk Insurance:
  • Working with the existing project team, provide leadership and expertise on Gavi’s review of options for insuring risks of delivery from manufacturer to inoculation;
  • Review existing proposals, including UNICEF coverage extension and make recommendations for cover;
  • If already in place, lead execution, negotiation and implementation of Delivery Risk Insurance and all corresponding procedures and processes;
  • Participate in and drive inter-agency coordination activities and knowledge sharing related to insurance, as appropriate.

• General Insurance Expertise:
  • Provide insurance advice generally within Gavi as needed;
  • Lead negotiations with insurance companies/ legal teams;
  • Facilitate insurance-related learning and knowledge exchange activities and meetings.

Note: The essential functions listed in this section are not exhaustive of the job responsibilities; other duties may be assigned consistently with the department needs.

Fluency in English.  
Other global language skills, French language skills would be beneficial.

If you wish to apply, please provide a cover letter and resume through our Careers webpage and apply by clicking on “Head, Insurance and Risk Mitigation – COVAX (Temporary).” Deadline for applications is 05 August 2021.

Duration: ASAP till December 2022. 

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