Executive Director, Technical And Business Operations (insurance)

About the Company: A leading financial service partner that helps build enduring legacies for sustainable wealth creation in Africa. Having established a 30-year record of achievements in banking across Africa and beyond, our founders established a Pan-African platform focused on building a better financial future for Africa. Today, our businesses are entrusted with our over $1billion of clients’ assets and are recognized as Nigeria's fastest growing investment managers.

Responsibilities

Strategic Oversight and Budgeting

• Set strategic objectives and related budgets for the technical/operations aspects of the business.
• Analyse and identify future budgetary requirements that support the achievement of organisational objectives.
• Provide strategic oversight of underwriting, claims, reinsurance, and actuarial services.
• Identify priority growth opportunities and align technical capabilities to support business targets.
• Align technical, operational, and sales teams to deliver on key performance and growth objectives.
• Monitor industry and market trends to inform strategic decisions and maintain competitiveness.

Risk Management and Technical Underwriting

• Manage the quality and suitability of policies, proper risk management of products, and the implementation and management of technical underwriting and claims decisions.
• Oversee the underwriting process improvements and ensure implementation is in line with organisational strategy and market agreements.
• Determine and review the policies and procedures for the processing of new and existing risks in own area of business in line with organisation’s strategy.
• Oversee the design of optimal reinsurance structures with assistance from the actuarial modelling team and technical underwriting team.
• Identify strategic adjustments to products and services in response to evolving consumer expectations, company goals, regulations, ethical standards, and technological advancements.

Claims Management

• Manage complex claims and make appropriate and effective claims handling decisions with reference to the law, regulations, and other relevant factors.
• Ensure timely and accurate settlement of claims, maintaining consistency and fairness in decision-making.
• Monitor and assess claims trends to identify potential risks, emerging issues, and opportunities for process improvement.
• Lead and mentor claims teams, providing guidance on best practices, claims strategies, and customer service excellence.

Actuarial and Statistical Support

• Utilize actuarial expertise to support long-term profitability by researching new statistical or mathematical methodologies to improve efficiencies.
• Conduct thorough risk assessments and pricing analysis to ensure competitive and profitable product offerings.
• Collaborate with other departments (e.g., underwriting, claims) to develop actuarial models that improve risk selection, pricing strategies, and claims forecasting.
• Provide actuarial guidance and insights to support business decisions, including capital allocation, product development, and reserve setting.

Cross-functional Collaboration

• Collaborate with IT and the Customer Experience teams to support the planning, development, and enhancement of new and existing lines of business, ensuring alignment with customer needs and service standards.
• Partner with the Sales and Business Development team to identify opportunities, refine value propositions, and strengthen the market performance of new and existing business lines.
• Collaborate with the Assurance Functions to develop and implement regulatory compliance control programmes and strategies that mitigate risks and exposures for the company.
• Engage with relevant technical units (e.g., Underwriting, Claims) to plan for new lines of business and improve current business offerings.
• Partner with Assurance Functions to ensure the entity remains compliant with regulatory and applicable standards of corporate governance and has the necessary infrastructure to support all necessary governance framework.

Sales and Growth Strategies

·      Identify and prioritize new markets for client acquisition, and develop targeted strategies based on customer needs, market trends, and competitor analysis.

·      Design and implement research methodologies and performance metrics to enhance sales activities, monitor results, and optimize sales incentives and key performance indicators.

·      Foster strong relationships with internal and external stakeholders, including key clients, brokers, and distribution partners, to support business growth and maximize opportunities for new partnerships.

·      Provide direction and oversight for sales strategies, tactics, and action plans to drive client satisfaction and revenue growth, ensuring alignment with organizational objectives.

• Lead the sales efforts to secure new business opportunities and partnerships.

Innovation and Revenue Maximization

• Leverage innovation to maximize revenue of traditional and digital assets and products.
• Drive the creation and launch of innovative insurance products and services that address evolving customer demands, emerging trends, and market gaps.
• Explore and implement new technologies (e.g., digital platforms, automation, AI) to streamline operations, improve customer experience, and create new revenue streams.
• Encourage a culture of continuous improvement and innovation within the organization by identifying and supporting creative ideas and solutions that enhance the company’s competitive edge and long-term profitability.

Product Development

• Drive the development and launch of new insurance products and services to meet evolving customer demands.
• Work with teams across underwriting, claims, and marketing to ensure new products align with strategy and market needs.
• Oversee product development from ideation to launch, ensuring ongoing competitiveness and compliance.

What We Are Looking For

Education and Work Experience

·      Bachelor’s degree in insurance, actuarial science, mathematics, finance or related discipline

·      Minimum of 15 years’ work experience in relevant role with 7 years technical and business insurance sales experience in a senior management capacity.

·      Associateship of the Chartered Insurance Institute (ACII) or equivalent

·      A master’s degree will be an added advantage.

·      Experience in interacting with regulatory agencies within the insurance industry is key.

·      Experience managing multi-stage projects from inception to completion, involving cross-functional teams and complex timelines.

·      Active involvement in industry events, conferences, and networking opportunities, showcasing a strong network of contacts.

·      Strong network of contacts within the insurance industry, including connections with clients, brokers, and industry associations.

·      The role is open to West African nationals with experience working in Ghana

Technical Competencies

·      In-depth knowledge and understanding of the insurance industry, insurance products, distribution channels, and industry regulations.

·      Ability to use specialist knowledge of insurance products and services to meet complex client needs

·      Ability to formulate underwriting strategies and reinsurance arrangements in the relevant class of business to enhance competitiveness and profitability

·      Ability to formulate claims handling strategies to maintain high standards

·      Expert knowledge of regulatory compliance requirements guiding core insurance functions

·      Familiarity with insurance product development processes, including assessing market needs, designing new offerings, and launching products.

·      Proficiency in using market research tools and databases to gather relevant data and insights.

·      Expertise in interpreting market intelligence to make informed decisions and develop targeted strategies.

·      Strong understanding of financial statements, budgeting, and financial modeling.

·      Ability to assess the financial viability of potential business opportunities and partnerships.

·      Expertise in creating and executing strategic business development plans for companies in the Insurance industry.

·      Proficiency in sales techniques and methodologies, including lead generation, prospecting, and closing deals.

·      In-depth understanding of the insurance industry landscape, trends, and competitive dynamics.

·      Expertise in building and maintaining relationships with potential clients, partners, and stakeholders.

·      Ability to assess potential risks associated with business opportunities and develop strategies to mitigate them.

·      Proven history of success in driving business growth and expanding market presence for companies within the insurance industry.

For consideration, please send Resume (WORD format) and cover letter to elisa@es-africa.com. This role and more can be found on our website www.es-africa.com. PLEASE SHARE WITH YOUR NETWORK

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