Our Client, NICO Life Insurance Company Limited (NICO Life), a leader in the Life Insurance Industry, is looking for a matured and qualified leader to fill the position of Chief Executive Officer Designate (CEO Designate) on open-ended (unspecified duration) employment contract.
The CEO Designate will work hand in hand with and understudy the existing /substantive Chief Executive Officer who is proceeding on retirement in about 2 years’ time. The position of CEO Designate is newly created and transitional. Subject to successful performance as a CEO Designate, the incumbent will be confirmed in appointment as a substantive Chief Executive Officer for the company and the CEO Designate position will be abolished.
To be stationed at the NICO Life’s Head Office in Blantyre, Malawi, the successful candidate will be responsible for directing NICO Life and ensuring the growth and sustainability of the business for the benefit of all stakeholders in line with the NICO Group’s 5 year strategy. He/she will be accountable for overall achievement of the company’s goals and objectives, the optimum Return on Investment for the Shareholders, technological advancements within the business, financial and operational viability and stability of the business, and the Culture, Governance, Risk and Compliance throughout the company.
KEY RESULT AREAS:
The CEO Designate will have have the following Key Result Areas:
Strategic Planning – Developing short, medium and long term sustainable strategic plans that achieve the growth ambitions of the shareholders and delivers the client value propositions.
Financial Management and Control – Interfacing with the Chief Finance Officer regarding the development of the overall budget, approval,
implementation, and review.
Operations Management – Managing Reinsurance contracts, identifying and ensuring the use of most appropriate and robust operating systems and processes, and overseeing operations processes.
Business Growth and Retention – Ensuring that annual business growth per line of business is achieved, and ensuring the development of sustainable stakeholder and client relationship synergies to achieve business retention.
Risk, Compliance, Legal, and Regulatory Requirements – Ensuring total compliance to regulatory requirements, ensuring that the Risk Appetite Framework is managed as approved by the Board, that the Business Continuity Plan is in place and tested as required, and ensuring compliance to all legal instruments are in place and working.
Human Capital Management and Development – Overseeing, inter alia:
the development of the most efficient and effective use of its Human Capital to achieve targeted efficiencies, and the development of the
optimum organisational and departmental structures;
the identification, management, and retention of skilled Human Capital and that the complement is in line with agreed Strategy; and
the identification, evaluation, and management of performance objectives and targets for each Division and its people.
COMPETENCES QUALIFICATIONS, AND EXPERIENCE:
First university degree in Business Administration, Accountancy, Economics, or equivalent.
Master’s degree in Business Administration, or any Social Sciences, or equivalent.
Advanced Diploma in Insurance from the Chartered Insurance Institute (CII) or Insurance Institute of South Africa (IISA).
At least ten (10) years’ experience in the Insurance Industry at a Senior Management level.
Membership with the Insurance Institute of Malawi and Associate Membership of the Chartered Insurance Institute of the UK or Associate membership of the IISA are essential.
Those with Actuarial qualifications, exposure, and/or experience will have an added advantage.
Strategic and tactical thinker.
An entrepreneurial spirit with a bias for action and implementation.
Ability to lead, motivate, incentivise and manage stakeholders, employees, and the community.
Ability to develop and implement the long, medium, and short-term strategy and plans for the business.
Ability to analyse and solve Policy issues and complex problems to achieve the correct Strategic outcomes.
Excellent verbal and written communication and ability to present complex situations clearly and succinctly.
Ability to negotiate, interact, and achieve goals and targets Nationally, Regionally and Internationally, if required.
Applicants, meeting the required qualifications, experience, and competencies, should send their application letter, together with a detailed curriculum vitae, and names of three traceable referees, to the address listed, below, quoting reference number: ‘CO 2022/7/10’.
Applications submission deadline is Wednesday, 20th July 2022. Only short-listed candidates will be acknowledged.
Email address: jobs@amgglobal.co.mw
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