Vacancies at Kenindia Assurance Company Limited

JOB PURPOSE

The job holder is responsible for supporting identification, assessing, and monitoring the potential risks that may hinder the reputation, safety, security, and financial prosperity of the organization and affect its ability to meet its obligations to policyholders as well as supporting development of mitigating plans and loss prevention programs.

PRINCIPAL ACCOUNTABILITIES

Risk Awareness and Implementation

• Participate in the development and implementation of the risk management framework & policy
• Identification of emerging risks facing the company and advise on severity and management. These includes risks associated with new products and services
• Reviewing risk management activities across various departments ensuring Kenindia risk policies are implemented and complied with

Risk Mitigation

• Collate and document all the risk incidents from the departments and assign actions for their closure.
• Participate in the development of appropriate robust mitigation actions and follow up the implementation of agreed upon actions.
• To monitor & follow up the implementation of agreed upon action plans for risk mitigation.
• Embedding the risk culture across the business unit through carrying out risk awareness activities.
• Assist the Risk and Compliance Manager in the coordination role of managing the Quality Management System.

Risk Evaluation

• Identification of risks on key strategic objectives to update and review risk registers & provide mitigation.
• Continuous identification, monitoring and measuring Key risk indicators and advice on the outcomes
• Conduct regular and timely risk assessment and implementation of Risk & Control self-assessment in assigned business departments
• Maintaining the risk registers and producing risk reports.
• Any other duty as may be assigned from time to time.

KNOWLEDGE AND EXPERIENCE.

Academic Qualifications

• Bachelors Degree in business related field

Professional Qualifications

• Professional qualification such as CPA, ACCA, Actuarial ACII or Forensics and a current membership to a relevant professional body.
• Certification in Enterprise Risk Management will be an added advantage.

SKILLS AND COMPETENCIES

Key Job Skills (specific to the job)

• Risk management
• Analytical skills
• People management
• Ability to understand the big picture in which
• the business is operating, the inter-play between
• the different components
• Insurance Skills (special Category)
• Insurance knowledge
• Understanding of the key regulations
• General Skills
• Communication skills
• Interpersonal skills
• Customer Service
• IT skills (fluency)
• At least 2 years of relevant experience

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JOB PURPOSE

To provide overall leadership including underwriting & claims and management of the medical business to ensure that the revenue growth and targets are achieved, that the products offered are competitive and that service delivery and customer service are delivered with highest standards for profitability and business sustainability.

PRINCIPAL ACCOUNTABILITIES

Strategy Development & Implementation

• Participate in the development and implementation of the overall company’s strategic plan.
• Responsible for the development and implementation of departmental strategic objectives and initiatives and implementation plan within the department in line with corporate goals.
• Prepare departmental budget and ensure adherence and minimization of expenditure to manage costs.
• Understand the value drivers of the business and identify profitable commercial opportunities to grow revenue and market share.
• Responsible for growth of emerging markets and distribution channels.
• Build a sustainable, cost effective, impactful approach to customer acquisition, servicing model and retention.
• Prepare, circulate, and regularly update the departmental guidelines to be followed every year.
• Assessing the risks to the business on any new opportunities.
• Implement a cash and carry culture at the point of business acquisition and structured credit approval on corporate business to build liquid reserves
• Collect relevant information and feedback from the market to be incorporated in developing innovative products to meet the changing clients’ needs.
• Supervise the medical team with a view to ensuring achievement of strategic departmental objectives and eventually company objectives in line with the strategic plan
• Prepare medical department reports to support management decision.

Business Development

• Champion the acquisition of business in line with the Division’s growth strategy through, retention, generic growth, and acquisition of new business
• Support business development to develop strategic recommendations related to market competition, products, and pricing.
• Develop key strategic partnerships to aid in business growth and service provision.

Operations

• Review the risks accepted in the company to ensure that they are within the set underwriting guidelines and are covered under the reinsurance program.
• Provide guidance to underwriting team on various enquiries for risk acceptance
• Manage renewal process to achieve the set turnaround time for issuance of renewal notices and deliver the desired retention and directly negotiate major corporate renewals to achieve the set business retention parameters.
• Provide technical expertise on rates review depending on specific class loss ratio.
• Performance to within the set loss ratio.
• Setting up authority levels in the department and ensuring adherence to set levels.
• Developing the relationship with existing clients, intermediaries, and financial institutions to ensure continued business growth.
• Ensure continuous audit of all systems and procedures are carried out and data audit for integrity and correctness at all times. 
• Manage relationships with clients, intermediaries, and service providers to ensure agreed service level agreements are achieved and goodwill with all stakeholders is maintained.
• Effectively manage the credit control status to ensure that premium payment is done on a timely basis.
• Medical claims Management –Ensure the medical claims are processed in time, audited, fraud detection and claim cost reduced

Provider Management

• Management of the health service provider for efficiency and effectiveness in service delivery and facilitating their bills settlement within set parameters.
• Reviewing service providers to ensure quality in service provision and good outcomes.

Care Management

• Developing, reviewing and implementing an effective and efficient care management system
• Engaging service providers on the health of clients to maximizing benefits from their covers
• Ensure customers receive high quality medical care and at a reasonable cost through ensuring daily audit and concurrent review of all admissions.

Staff Management

• Provide leadership to the medical team through training and staff motivation to achieve the medical unit objectives.
• Conduct as per company guideline performance management process from setting key performance indicators with staff in the department, review of performance and continuous coaching and mentoring in the department

Risk & Compliance

• Compliance with the regulatory requirements and all regulatory bodies ie IRA/AKI
•  Ensure that all activities and duties are carried out in compliance with all regulatory requirements, Operational Risk Framework and internal policies & Standards.
• Managing the implementation of internal and external audit and risk recommendations within the agreed timelines.

KNOWLEDGE AND EXPERIENCE.

Qualifications:

• A Bachelor’s degree in Business Related Course/ Actuarial Science/ Medical Related course

Professional Qualifications

• Diploma in Insurance (ACII / AIIK)
• Member of a relevant professional body

Experience:

• Nine(9) years’ relevant working experience, four (4) of which should have been at manager level and above in a similar role

Knowledge

• A strong understanding and experience of the insurance industry and Healthcare in Kenya

SKILLS AND COMPETENCIES

• Strong Leadership skills with ability to motivate and inspire teams
• Problem solving and conflict resolution
• Client Management and Negotiation skills
• Risk management and analytical skills
• Good communication skills and Interpersonal relationship
• Highest level of personal and professional integrity Emotional Intelligence
• Visionary
• Relationship Building
• Strategic Thinking
• Commercial Acumen
• Stakeholder Managemen