Principal Officer
Kampala * Full-time
CiC Insurance
Category: Insurance
Total Positions:
Location: Kampala
Full-time
Salary: Attractive
Posted 9 months ago
KEY DUTIES AND RESPONSIBILITIES
• Strategic Leadership (20% of time)
• Develop and execute the Life Assurance business strategy in alignment with the subsidiary’s and CIC Group’s vision.
• Drive product innovation, market expansion, and digital transformation to maintain competitive advantage.
• Monitor industry trends and adjust business plans accordingly.
• Formulate, implement and ensure achievement of company’s overall business strategy
• Prepare regular and periodic reports to the board for strategic direction and on achievement of planned goals
• Business Growth & Market Development (20% of time)
• Achieve targeted revenue, policy uptake, and profitability for the Life Assurance segment.
• Identify and pursue growth opportunities through bancassurance, tied and independent agency networks, brokers, and digital platforms.
• Oversee marketing initiatives to enhance brand awareness and customer engagement.
• Product Development & Customer Solutions (15% of time)
• Lead the design and development of Life Assurance products tailored to customer needs and market dynamics.
• Ensure products are priced competitively and meet regulatory requirements.
• Integrate customer feedback into continuous product improvement.
• Regulatory & Compliance Oversight (15% of time)
• Serve as the designated Principal Officer for Life Assurance as per the Insurance Regulatory Authority (IRA) Uganda requirements.
• Ensure compliance with all Life Assurance regulations, corporate governance standards, and industry codes.
• Maintain strong relationships with the IRA and other relevant regulatory bodies.
• Operational Excellence (10% of time)
• Oversee underwriting, claims, and policy administration processes to ensure efficiency and customer satisfaction.
• Implement effective governance, risk management, and control frameworks.
• Drive process improvements and cost efficiencies.
• Financial Management (10% of time)
• Prepare and manage the Life Assurance budget and financial plan.
• Monitor performance against targets and take corrective action where necessary.
• Ensure prudent financial management and optimal resource utilization.
• Stakeholder Engagement (5% of time)
• Develop and maintain strong relationships with customers, intermediaries, regulators, and industry associations.
• Represent the Life Assurance segment in industry forums, conferences, and media engagements.
• People Leadership (5% of time)
• Lead, mentor, and develop the Life Assurance team to achieve business objectives.
• Promote a performance-driven, customer-focused culture.
• Ensure succession planning and leadership development within the segment.
Recommended for you
QUALIFICATIONS / SKILLS
• Bachelor’s degree in Insurance, Business Administration, Actuarial Science, Economics, or related field
• Master’s degree is an added advantage
• Professional Qualification
• ACII, CII, Diploma in Insurance or equivalent professional insurance qualification.
• Experience Required:
• Minimum of 10 years’ experience in the life assurance sector, with at least 5 years in a management role.
• Proven track record in business growth, product innovation, and regulatory compliance.
• Skills and Competencies:
• Strategic thinking and execution.
• In-depth understanding of life assurance products and distribution channels.
• Strong relationship-building and negotiation skills.
• Financial acumen and analytical skills.
• Excellent communication and stakeholder engagement skills.
• Leadership and team development capabilities.
• CIC Insurance Values
• CIC Group is committed to providing excellent service, spur further growth and employees are required to align their behavior to the following core values as critical to driving their performance;
• Integrity- Be fair and transparent
• Dynamism- Be passionate and innovative
• Performance- Be efficient and results driven
• Co-operation- Live the Co-operative spirit
HOW TO APPLY
Please follow the application instructions provided in the full job description above.
CLICK HERE TO APPLYDeadline: Expired
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