Deputy Managing Director / Chief Operating Officer (DMD / COO) at African Reinsurance Corporation

Duties / Job Details
The duties of the Deputy Managing Director / Chief Operating Officer (DMD/COO) comprise amongst others:

• Promote the Corporation’s business by supervising and coordinating the Corporation’s underwriting & marketing activities with special attention to the marketing strategy, evaluation and acquisition of new businesses.
• Oversee the Corporation’s reinsurance operations, monitoring the various Production Centers and reporting all activities to the GMD/CEO.
• Coordinate the underwriting activities in the Head office, Regional offices and Subsidiaries by providing strategic direction in such a way as to ensure their alignment with the objectives of the Board.
• Prepare and, upon proper approval by Group MD/CEO, implement marketing and business development plans on an annual basis, with quarterly reports and reviews to ensure overall effectiveness.
• Protect the business portfolio by preparing and proposing to the GMD/CEO the retrocession programmes with first class securities as adopted by the Board and implementing same in conjunction with the Department of Central Operations.
• Provide leadership, reasoned judgment and supervisory review in the development, maintenance and/or release of adequate reserves to meet the outstanding obligations of the Corporation in respect of its underwriting operations.
• Monitor the overall profitability, liquidity, growth prospects and other economic and business conditions in the markets serviced by the Corporation, and monitor progress towards achieving the income, profitability and other targets set for those markets with a view to proposing/taking appropriate corrective actions on any adverse performance and developments.
• Initiate, propose and implement best practices through planned review of the Underwriting Manual in the areas of underwriting and marketing in order to improve the Corporation’s effectiveness.
• Periodically evaluate the business written and propose measures to improve the quality of acceptances.
• Design and implement the most effective modelling, statistics, capital allocations etc., that will enhance the control of underwriting business (also technical underwriting) of the Corporation to ensure optimal delivery.
• Ensure the timely rendition of all required reports relating to the underwriting and marketing function, to the Group MD/CEO in the form and manner so required and as an accurate reflection of the performance and standing of Corporation’s underwriting and marketing activities, business prospects and state of affairs.
• Identify and advise the GMD/CEO on emerging issues of corporate significance that affect operations, strategic management and resource allocation.
• Provide guidance and justification for the human, material and financial resource levels required for the overall effectiveness of the underwriting, marketing and business development activities of the Corporation.
• Promote productivity, good conduct, discipline, loyalty and team spirit among all the supervised Team members. Provide leadership, proper training and skills development to supervised Team members.
• Preside over standing and ad-hoc Committees as requested by the GMD/CEO, including but not limited to:
  • Underwriting Committee,
  • Reserving Committee,
  • Risk Management & Compliance Committee,
  • Staff Performance Evaluation Committee,
  • Investment Committee,
• Contribute to promote the image of the Corporation as a responsible business organization and corporate citizen in all operating offices and markets, and effect proper and appropriate representation for the Corporation as may be assigned by the GMD/CEO.
• Assist the GMD/CEO in any other activities and tasks as agreed from time to time.

Academic Qualifications
Applicant shall be holder of:

• A relevant University Degree and / or a higher Professional Degree in insurance and reinsurance or in Finance and Accounting, or Management & Business Administration, or in Actuarial Sciences;
• With higher qualifications (master’s or doctorate degrees) being an advantage.
• A minimum of 15 years of post-qualification experience in relevant sector with at least 10 years at senior executive level, preferably in insurance or reinsurance concerns, or related fields.

Applicant shall be:

• A national of the 42 African member States signatories for the Agreement Establishing the African Reinsurance Corporation (Africa Re) (https://www.africa-re.com/shareholders)
• Forty (40) years old minimum and fifty-five (55) years maximum at the time of application.

Applicant must also be:

• Fluent in English and / or French, a working knowledge of one or more languages used in African Union (AU) member States would be an advantage.

Applicant shall also be a Leader with the:

• Ability to inspire and coach teams,
• Following leadership characteristics:
• Good Delegation Skills
• Ability to take Better Decisions
• Ability to Execute the Corporate Strategy
• High degree of Professional Excellence
• Integrity
• Cultural Intelligence.

Main Competencies and Skills Required:
Technical:

• Strong theoretical, professional and practical knowledge of underwriting and marketing in the reinsurance industry.
• Very good technical knowledge of the insurance classes of business (underwriting and claims).
• Professional technical competence in retrocession
• Strong skills in business development
• Detailed knowledge of data sources in (re)insurance industry and working knowledge of other data sources.
• Strong understanding of corporate finance and measures of performance
• Strong understanding of actuarial activities, processes and procedures in the insurance and reinsurance industry.

Others:

• Strong team player and proven leadership and managerial skills/experience
• Proven experience in managing a large and geographically dispersed team (nationals & expatriates).
• Ability to inspire and coach Teams;
• Impeccable bias for action and strategic disposition;
• Demonstrable experience in developing corporate strategy and business plans
• Customer focused with strong negotiation skills.
• Good delegation skills.
• Ability to demonstrate independent judgment, diplomacy in taking better decisions.
• Proven cultural intelligence with cross cultural and cross functional skills with demonstrable experience to adapt/fit into new/international environment and deal with people from different cultures and backgrounds.
• Unquestionable integrity and proven sense of responsibility.
• Entrepreneurial & innovative mind-set with outstanding organization and planning skills.
• Ability to quickly build very good and sustainable relationships with different stakeholders.
• Experience in navigating relations with African Governments and insurance regulatory bodies is a plus.
• High degree of professional excellence and discretion in advising on and handling sensitive matters in an international environment.
• Well-developed communication and interpersonal and presentation skills;
• Outstanding analytical and problem-solving abilities.
• Strong capacity for synthesizing and reasoning with good reporting skills;
• Excellent computer skills required in Microsoft Office (Word, Excel, PowerPoint, etc.).

Salary & Benefits
The successful candidate shall have the following benefits:

• Competitive fixed and variable pay
• Other benefits and privileges to be communicated to the selected candidates