Job Ref. No: JLIL 298

Role Purpose

• The role holder is responsible for overseeing and managing the retail life sales division, ensuring the efficient and effective delivery of services, driving business growth, and ensuring compliance with industry regulations and standards.
• The job holder is also responsible for:
  • Supporting the CEO in the development of the departmental strategy with supporting budgets and business plans.
  • Develop and execute strategies to drive business growth within retail life (Agency, Bancassurance and alternative channels).
  • Oversee the financial performance of the Agency, Bancassurance and alternative channels workstreams, including budgeting, forecasting, and financial analysis.
  • Develop and execute a comprehensive roadmap for the department, aligned with the organization's goals and market trends.

Main Responsibilities

Strategy

• Provide leadership in the development of the department’s continuous evaluation of short and long-term strategic financial objectives with supporting financial analysis and evaluation.
• Develop and execute comprehensive business development strategies to drive revenue growth and market expansion. Implement strategies to enhance client retention and satisfaction, including regular client engagement and relationship management.
• Provide leadership and coordination of the department’s budget process and ensure the budgets are financially reasonable and reflect the strategic initiatives of the Company.
• Identify and evaluate potential strategic partnerships, alliances, and joint ventures to expand the company’s capabilities and reach.
• Foster relationships with key stakeholders, industry associations, and influential networks to enhance the company's visibility and reputation.
• Monitor portfolio performance, asset allocation, and risk exposure on an ongoing basis.

Business Growth & Development

• Identify and assess new business opportunities within the Agency, Bancassurance and Alternative Channels workstreams. Develop and execute the company's distribution strategy, aligning it with overall business goals and market trends. Identify growth opportunities and expansion areas for agency, alternative channels, and bancassurance.
• Conduct market research and analysis to identify target markets, customer segments, and competitive landscape.
• Develop and maintain relationships with key decision-makers and influencers in target organizations.
• Collaborate with internal stakeholders to assess partnership opportunities and negotiate favorable terms.
• Develop and manage strategic partnerships to drive mutual business growth and leverage complementary resources.
• Collaborate with internal teams to conceptualize, design, and launch innovative solutions that meet client demands.
• Monitor industry trends, regulatory changes, and competitive activities to identify business opportunities and risks.
• Provide strategic insights and recommendations based on market intelligence to drive informed decision-making. capabilities.
• Representing the organization at industry events, conferences, and seminars to build networks and identify potential partnerships.

Operational

• Oversee the management and performance of various distribution channels, including agency, bancassurance, and alternative channels such as online platforms and partnerships.
• Identify opportunities for process improvement, automation, and digitization to enhance operational efficiency and service delivery.
• Foster and maintain strong relationships with bank partners for successful bancassurance distribution.
• Evaluate partnerships, technology solutions, and digital platforms to enhance customer engagement.
• Work with the training manager to design and oversee comprehensive training programs for agency personnel to enhance their product knowledge, sales skills, and customer service capabilities.
• Ensure the efficient and compliant operation of all processes and procedures within the agency, bancassurance, and alternative channels workstreams.
• Oversee the implementation of risk management and control measures to mitigate operational risks.
• Establish and maintain strong relationships with key clients, addressing their needs, and proactively identifying opportunities to enhance their experience.

Jubilee Life Brand

• Ensuring effective public relations and enhancing the company’s corporate image with all stakeholders and partners.

Corporate Governance

• Compliance. Stay updated on insurance related, industry regulations, compliance requirements, and best practices.
• Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
• Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.
• Implement effective risk management strategies, including appropriate internal controls, to mitigate operational, financial, and regulatory risks.

Leadership and People

• Collaborate with channel leaders to ensure consistent performance and alignment with strategic objectives.
• To provide the much-needed transformational leadership to meet and surpass the expectations of stakeholders.
• Provide leadership to the team and build know-how and knowledge sharing to create efficiencies and synergies.
• Building relevant departmental capacity to deliver on strategy by leading, guiding, directing, and evaluating the work of the team.
• Fostering a retail culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment for attracting, retaining, and motivating employees.
• Conduct regular team meetings and training sessions to enhance skills and knowledge related to financial reporting and industry trends.

Key Competencies

• Strong knowledge and understanding of the life insurance industry is essential. Deep understanding of life insurance products, actuarial principles, underwriting processes, risk management, and regulatory compliance specific to life insurance.
• Dynamic and strategically minded individual with a passion for performance, team play and achievement in a competitive and dynamic environment.
• Excellent interpersonal, communication, negotiation and conflict management skills
• Strong risk management and assessment skills
• Demonstrated record of revenue and profit growth and new business development experience.
• Excellent leadership skills particularly in strategy formulation and execution
• Highly innovative, performance and results driven coupled with good business acumen.

Academic Background & Relevant Qualifications

• Master’s in finance, Business Administration, Strategy, or any other related course
• Bachelor’s degree in finance/Business Related fields
• CPA-K/ACCA, Diploma in Insurance, LOMA/CII, TDPK Qualification
• Minimum of 10 years of experience within the Life Insurance Business
• Have experience in operating in complex business environments and/or regulated sectors and have the personal qualities to develop strong stakeholder relationships.
• Demonstrate ‘best in class’ knowledge of technology, change, process improvement and operational management in relevant businesses.
• Experience in financial planning, budgeting, forecasting, financial analysis, and financial reporting within the insurance industry.
• Experience in building high-performing teams, fostering a culture of collaboration, and providing guidance and mentorship to finance professionals.

Application Deadline: 6th March 2025