Finance Director at Mutual & Federal

Job description

Detailed Description

Core to the role is the accurate interpretation of financial performance and analysis of capital and risk with active participation in the Exco and other Committees.

• Strategy Development and Implementation
• Accountable for setting policy and financial strategy, for capital management and for compliance with accounting standards across the P&C business.
• Contributes to broader OM Insure business strategy.
• Identify commercial opportunities in line with strategy and manage deals.
• Grows enterprise value by the astute allocation and structuring of capital.
• Executive Management
• Serve as a member of the OM Insure executive leadership team and is a member of OM Insure Exco.
• Participate in key decisions pertaining to the OM Insure strategic initiatives, operating model and operational execution.
• Actively contribute the OM Insure Operational and Strategic committees, providing challenge into the business on key issues.
• Represent the company on various subsidiary Boards
• Participate in the active management and allocation of capital across OM Insure
• Business Transformation
• As part of the executive team, leads and sponsors strategic transformation change in OM Insure, ensuring that employees at all levels clearly understand and are committed to the strategic change agenda.
• Risk Management
• Ensures OM Insure has clean audit, risk and compliance reports.
• Identifies and mitigates financial and operational risk in the business.
• Functional Effectiveness
• Manages service delivery through other managers and their teams.
• Holds heads of department accountable for managerial work, including selection, performance management and talent management.
• Develops Heads, Senior Managers and specialists under supervision.
• Sets up structures to protect OM Insure from volatility of earnings (e.g. Reinsurance).
• Selects potential M&A’s to sustain pipeline.
• Deal making with appropriate partners.
• Defines and implements best operating practices.

Job Requirements

• 7-15 years short term insurance experience of which at least 5 years should have been at a senior/executive level.
• Previous experience in a Finance Director role preferred.
• Demonstrate to possess an integrated understanding of the entire value chain in the short-term insurance industry including product development and pricing, marketing & sales & distribution, underwriting & claims, systems and systems support underpinning the entire value chain.
• Possess well developed leadership and management abilities coupled with influencing and negotiation skills.
• Be an accomplished communicator with the ability to operate at all levels in an organisation.
• Have a demonstrable ability to drive organisation and culture change in order to achieve divisional and group strategic objectives.
• Possess relevant tertiary and professional qualification – CA (SA) or qualified Actuary

Additional Details

Stakeholder Management

Grows and maintains relationship with regulators and other key stakeholders e.g. Reinsurers, Banks etc.
Keeps records of financial transactions.

Team Management

Mentor and develop a direct team of senior managers, managing leadership development, problem resolution, performance evaluation, and the building of an effective team dynamic.
Guide larger, cross-divisional teams outside of direct span of control within OM Insure and relevant businesses e.g. rest of Africa.