Posted:Fri at 2:12 PM
By:Hiring Kenya
Company Details
Industry:
Insurance
Description:
Apollo Group (Apollo Investments Limited)was an idea born from the need to harness synergies across the insurance business. Built on commitment, integrity and innovation, it has risen to be one of the leading financial groups in East Africa. Apollo Investments Limited (AIL) includes APA Insurance (Kenya and Uganda). It underwrites General Insurance risks such as Fire, Marine, Aviation, Personal Accident, Motor, Liability, Agriculture, Property, and Micro Insurance. We also underwrite Health Insurance i.e. Corporate, Individual & Family Health Insurance. APA Life Assurance is one of the leading insurance companies in Kenya providing Life Insurance and Pension benefits.It has been recognised as The Best Insurance Company in Claims Settlement (Life Business). Our Individual products, APA Elimu,Pumzisha, Imarika and HosiCare aim to protect generations as well as help people from all walks of life to meet common needs. Apollo Asset Management which is an investment and wealth management firm licensed by the Retirement Benefits Authority (RBA) and the Capital Markets Authority (CMA) to conduct fund management and investment advisory services. Gordon Court (Apollo Conference Centre) is the premier event hosting location for both business and private functions in the city. From business conferences to private occasions, Apollo Conference Centre provides the ultimate meeting place. Established in 1977 as one of the first locally owned insurance companies, Apollo has achieved impressive growth over the years thanks to commitment to service and confidence of policyholders and a sound management policy. APA Apollo has been at the fore front of Innovations and taking bold and daring steps in the Insurance and Financial service sectors.
Job Description
KEY PRIMARY RESPONSIBILITIES
Compensation Management:
- Develop and maintain competitive salary structures, including fixed pay, variable incentives, and commission plans tailored to the insurance industry.
- Conduct benchmarking and market analyses to ensure compensation packages are aligned with industry standards and regulatory requirements.
- Collaborate with department heads to design performance-based incentive plans for sales and other key functions.
- Oversee annual compensation reviews, including merit increases, promotions, and bonus distributions.
- Ensure compliance with applicable wage laws and regulations, including pay equity and executive compensation standards.
Benefits Administration:
- Design and administer employee benefits programs such as group health insurance, retirement plans, disability coverage, and wellness initiatives.
- Evaluate and recommend enhancements to existing benefit offerings to meet the needs of employees in a competitive insurance marketplace.
- Manage relationships with insurance providers, brokers, and other vendors to ensure cost-effective, high-quality benefits.
- Oversee benefits enrollment processes and provide support during annual review/renewal process
- Ensure compliance with laws and regulations.
Sales Incentive Programs:
- Develop and manage commission structures and variable pay programs for sales teams, ensuring alignment with business goals and revenue targets.
- Analyze the effectiveness of sales incentive plans and recommend adjustments to maximize motivation and performance.
- Partner with sales leadership to align compensation models with evolving market trends and business needs.
Employee Communication and Support:
- Develop communication strategies to educate employees about compensation and benefits programs, including total rewards statements.
- Act as a resource for employees, addressing inquiries and resolving issues related to pay, benefits, and incentive programs.
- Conduct training sessions for managers on compensation policies and benefits offerings.
Compliance and Policy Management:
- Ensure all compensation and benefits programs comply with local labor laws, as well as industry-specific regulations.
- Conduct audits of payroll, benefits, and commission structures to identify and resolve discrepancies.
- Stay informed about legislative and regulatory changes that impact compensation and benefits in the insurance industry.
Analytics and Reporting:
- Utilize data analytics to assess compensation trends, employee satisfaction, and program effectiveness.
- Prepare reports on compensation costs, benefits utilization, and workforce metrics for senior leadership.
- Conduct internal equity analyses and recommend adjustments to address pay disparities.
Collaboration and Strategy:
- Partner with HR, finance, and senior leadership to align compensation and benefits strategies with organizational objectives.
- Monitor industry trends and innovations in compensation and benefits to maintain a competitive edge.
- Support talent acquisition by providing insights into competitive compensation and benefits for high-demand roles in the insurance sector.
ACADEMIC QUALIFICATIONS
- Bachelor’s degree in Human Resources, Business Administration, Finance, or a related field (Master’s degree preferred).
JOB SKILLS AND REQUIREMENTS
Key Skills:
- Strong understanding of insurance industry compensation structures, including commissions and incentives.
- Experience managing employee benefits programs and vendor relationships.
- Analytical skills with proficiency in HRIS systems, Excel, and compensation benchmarking tools.
- Knowledge of industry-specific regulations, including insurance licensing laws and executive compensation guidelines.
- Excellent communication, negotiation, and organizational skills.
Behavioral Competencies:
- Strategic Thinking
- Attention to Detail
- Stakeholder Collaboration
- Integrity and Confidentiality
- Problem Solving and Adaptability
PROFESSIONAL QUALIFICATIONS
- Professional certifications such as CHRP, ACCA or CPA.
EXPERIENCE
- 5 years of experience in compensation, benefits, or HR management, preferably in the insurance or financial services industry.
Education: Degree, Diploma
Employment Type: Full Time
