Managing Director (Life Assurance) at Fosad Consulting

Job Purpose

To control and oversee all business operations, people and ventures. Strategically steer the company to the most profitable direction by establishing goals and formulating plans to make sure those goals are met while also implementing its vision and mission.

Job Responsibilities:

• Prepare a corporate plan, annual business plan and monitor progress against these plans to ensure that the company attains its objectives as cost-effectively and efficiently as possible.
• Draft policies for the approval of the Board and prepare procedures to implement the organizational policies; review existing policies on an annual basis and recommend changes to the Board as appropriate.
• Identify, assess, and inform the Board of Directors of internal and external issues that affect the organization
• Act as a professional advisor to the Board of Director on all aspects of the organization's activities
• Develop and maintain Research & Development programmes to ensure that the company remains at the forefront in the industry, applying the most cost-effective methods and approaches to provide leading products and retain its competitive edge.
• Develop and maintain Total Quality Management systems throughout the company to ensure the best possible products and services are provided to customers.
• Prepare, gain acceptance, and monitor the implementation of the annual budget to ensure that budget targets are met, that revenue flows are maximised and that fixed costs are minimised.
• Develop, promote and direct the implementation of equal opportunities policies in all aspects of the company’s operation.
• Ensure that the operation of the organization meets the expectations of its clients and Board.
• Establish and maintain effective formal and informal links with major customers, relevant government departments and agencies, local authorities, key decision-makers and other stakeholders generally, to exchange information and views and to ensure that the company is providing the appropriate range and quality of services.
• Ensure effective forward and feedback communication systems between Management and staff are established and disseminated to all staff members to inculcate coherence and a team spirit.
• Develop and maintain an effective marketing and public relations strategy to promote the products, services and image of the Company in the wider community.
• Oversee the preparation of the Annual Report and Accounts of the Company and ensure their approval by the Board.
• Provide strategic advice and guidance to the Chairman and the members of the Board, to keep them aware of developments within the industry.

Key Indicators:

• Policy sales growth
• Net client gains
• Employee Satisfaction Index
• Return on Investment Ratios
• Claims Ratio and Time-to-Settle

Educational qualification and experience

• University degree in relevant field.
• Master’s degree in a management discipline.
• At least 15 years’ senior level experience of management of people and resources both local and foreign.
• Must be an active member of the necessary insurance professional bodies e.g. CIIN
• A wide knowledge of the insurance industry.
• Must have hands-on experience in Actuarial, Finance, Technicals (claims, life, etc)
• Demonstrable experience in developing strategic and business plans.
• A proven record of success in senior level general or commercial management, preferably in the insurance industry.

Knowledge & Skills

• Political and presentation skills with an appreciation of the demands of conflicting interests and of meeting statutory requirements.
• Must have excellent consulting background and people management skills and deep Life assurance Industry expertise.
• Excellent leadership, communication, organisational and problem-solving skills.
• Thorough knowledge of market changes and forces that influence the industry.
• Strong understanding of corporate finance and measures of performance

Personal Characteristics

• Demonstrate a willingness to be flexible, versatile and/or tolerant in a changing work environment while maintaining effectiveness and efficiency.
• Good business drive, good accent, well composed and ability to represent the brand anywhere in the world.
• Understand ethical behaviour and business practices, and ensure that own behaviour and the behaviour of others is consistent with standards and values of the organization.
• Develop unique ways to improve operations and create new opportunities.
• Anticipate, understand, and respond to the needs of internal and external clients exceed their expectations within the organizational parameters.
• Positively influence others to achieve results that are in the best interest of the organization.
• Determine strategies to move the organization forward, set goals, create and implement actions plans, and evaluate the process and results.
• Assess options and actions based on the trends and conditions in the environment.