In support of the iMasFinance transformation strategy, preference will be given to candidates from the designated groups.
About this position iMasFinance, a financial services Cooperative, is looking for a Managing Director for its Insurance Broking business.
This is an Executive Management role, reporting to the GCEO, and is responsible for the strategic direction and execution, as well as operational and financial performance of the iMasFinance Groups Insurance Business (life insurance and short-term insurance), by developing and executing on current and long-term business strategies.
The successful candidate will be an innovative, dynamic and energetic self-starter with seasoned experience on executive level in the insurance brokerage business and management of Insurance product providers.
Responsibilities include, but are not limited to, the following: Job Outputs: Strategic Direction: Strategic direction and positioning of the iMas insurance business.
Formulate and implement business strategy, human relations strategy, business plan and strategic objectives.
Review and optimize strategy regularly, assess future business needs through sustainability forecast to ensure currency and appropriateness and take corrective action where needed.
Selection & management of business associates.
Identification and participation in new ventures.
Divisional and corporate business plans and budgets compilation and management thereof, contributing towards the execution of corporate strategies.
Regular reporting to the GCEO and Exco, as well as the IIB Board regarding performance against the strategy.
Compliance and Governance: Driving the overall corporate governance framework.
Ensure and drive adherence to corporate governance and principles including codes of conduct (e.g King IV), legislation, statutory requirements, policies and procedure to ensure compliance at all times.
Ensure ongoing maintenance of dialogue with Exco to ensure well considered and informed decisions.
Support operations of Exco by advising and informing executives and acting as interface between Exco and management.
Ensure compliance with all relevant Acts and regulations.
Leadership: Visionary leadership, providing direction and strategic leadership to employees, ensuring execution of the company vision and strategic objectives and achievement of expected results.
Financial and Operational Performance: Responsible for the sustainable financial growth and management of the company.
Drive the creation of sustainable wealth to ensure achievement of strategic targets through sound financial and business practices.
Initiate, lead, authorize and drive initiatives aimed at optimizing operations.
Drive and control the strategic and operational budgets, goals and standards.
Develop annual budgets and targets for Group approval in alignment with growth objectives.
Risk Management: Proactively identify and lead assessment of critical organizational risks and implement remedial action where necessary.
Provide early notification of significant changes to Exco.
Ensure that formal risk management processes are approved and implemented.
People Management: Create a high-performance culture; Be an inspirational leader; Manage Senior Managements and other management team members performance.
Ensure implementation of equitable HR practices, including the EE plans.
Qualifications: An Honours Degree in Business Management or Financial Management is essential.
A Masters Degree in Finance, Business Administration/MBA or Direct Marketing is recommended.
Registration as a Key Individual is recommended.
CIMA, CITA, IISA, SAIA or SAICA registration will be an advantage.
A valid driving licence is essential.
Experience: Minimum of 10 Years of experience in Insurance,(and specifically in a broking environment) is essential, of which at least 5 years must be on executive management level.
Knowledge and Skills: Functional/Technical: Industry and competitor knowledge, knowledge of corporate governance and relevant legislation impacting on business, corporate financial knowledge, knowledge of compliance and regulatory requirements in SA's financial services and insurance landscape, networking and influencing skills, advanced business acumen; good communication and interpersonal skills, critical relationship-building, problem-solving and decision- making skills, analytical skills and conceptual thinking skills.
Managerial/Supervisory: Cross-boundary thinking skills and the skill to drive for results; strategic thinking skills and knowledge of strategic management, knowledge of business management and people management skills, knowledge of contracting and negotiating, skills in examining and re-engineering operations and procedures, the ability to develop financial plans and manage resources, the ability to identify unique new business opportunities and improve on alternative revenue lines.
Leadership: Strategic, visionary, leadership competencies and entrepreneurial skills to ensure positive, inspirational and innovative leadership and business growth.
Computer Literacy: Advanced skills in Microsoft Excel, Word and PowerPoint.