Job Description
Position: Chief Executive Officer | Principal Officer
Reports to: The Board of Directors
Direct Reports: Heads of Department (EXCO)
Indirect Reports: Head of Internal Audit
External Reports: Regulators, Media, Partners
Our client is a well established general insurance company operating in Kenya and is regulated by the Insurance Regulatory Authority (IRA). The company invites applications from suitably qualified candidates for the position of Chief Executive Officer / Principal Officer as per the below details.
ROLE SUMMARY
To provide overall guidance and operational direction of the company in line with its mission and the comprehensive strategies set out by the Board of Directors.
JOB PURPOSE
This position is responsible for establishing and achieving short and long-term strategic goals of the company. The role holder will also provide overall management, operational leadership and in liaison with the Board make strategic, operational and financial decisions; provide leadership to employees of the company and ensure the success of the company.
KEY RESPONSIBILITIES
Strategy Management & Leadership
• In liaison with the Board of Directors and other stakeholders, drive strategy formulation and implementation to realize the company’s set objectives;
• Develop and strengthen networks and partnerships with other internal and global industry stakeholders
• Lead and oversee implementation of strategies that create a high performing organizational culture, based on sound management principles and practices, in accordance with relevant legislations, other internal policies and IRA regulations.
• Oversee the preparation of the organization’s annual work plans, budgets and reports by the relevant heads of departments.
• Prepare, consolidate and submit quarterly organization’s performance management reports for presentation to the Board of Directors
• Keep the Board of Directors informed of existing or impending Board policy issues and focused on strategic issues;
• Keep the Board members abreast of current issues, opportunities and potential risks of the company
• Develop and implement day-to-day strategies, processes, policies and procedures that ensure efficient, professional and profitable operations
• Communicate to the employees on agreed strategic directives and policies
• Manage corporate change through formulation and implementation of policies and strategies that will ensure the effectiveness and sustainability of the company.
• Build leadership teams and ensure adequate succession planning throughout the company;
• Oversee the company’s Financial/Investment management and reporting to the Board of Directors on the performance;
Corporate Affairs & Governance
• Maintain and uphold the Governance framework for the company in line with the regulatory requirements.
• Work closely with the Board of Directors to ensure that the focus is on the right issues
• Submit timely, accurate and regular reporting to the shareholders and regulator
• Manage and uphold the positive reputation and image of the company
• Create positive engagement with key stakeholders
• Oversee proper communications and updates to all the key stakeholders
• Market and represent the company competently and adequately
• Represent the company in official forums as may be required by the Board of Directors from time to time
• Foster a corporate culture that promotes ethical practices, maintains high standards of corporate citizenship and social responsibility within the environment it operates;
• Serve as the primary spokesperson and representative for the company and ensure that its mission, programs, and services are consistently presented in a strong, positive image to relevant stakeholders;
Operational Responsibilities
• Oversee management of all departments while monitoring business performance.
• Ensure continuous achievement of the company’s financial and operational goals & objectives
• Ensure adequate staffing of the company
• Ensure adequate processes to identify, assess, mitigate/manage and escalate current and emerging risks;
• Ensure timely budget development and prudent utilization
• Ensure timely filing of all legal and regulatory documents
• Oversight all company properties and assets
General Skills
• Excellent technological awareness
• Excellent conceptual, analytical, communication, report writing, negotiation, business networking and problem-solving skills,
• Commercially oriented, professional expertise and financial orientation.
• People focused and performance champion
• Excellent leadership, organizational and people management skills;
• High level of integrity, credibility, and character.
• Innovative and Customer Focused
• Ability to work as a team player, work under pressure and set priorities
• Abreast with existing and emerging trends/information in the insurance industry
EDUCATION AND PROFESSIONAL QUALIFICATIONS
• Master’s degree in Business-related field or its equivalent from a recognized institution;
• Bachelor’s degree in Finance, Insurance, Banking or its equivalent from a recognized institution;
• Professional qualifications in Actuarial, ACII, AIIK, CFA, CPA, ACCA or ACA;
• Must be a current Associate member of the Insurance Institute of Kenya (AIIK) or any other recognized insurance professional body;
• At least ten (10) years’ experience in a managerial capacity in Finance, Insurance or Banking;
• MUST be IRA compliant.