Old Mutual Life Assurance Company (OMLAC) Malawi Limited is a leading life assurance company in Malawi, providing life insurance and savings solutions to its clients. OMLAC Malawi Ltd is a subsidiary of Old Mutual Malawi Ltd. In Malawi, we have been an integral part of the insurance market for the past 70 years. OMLAC Malawi Ltd is a customer led company with strong values embedded in serving and developing the communities in which we operate. We have a solid business which has been growing steadily over the years.

An opportunity has arisen for an experienced and dynamic business champion. The individual will be accountable for providing overall leadership and developing a sustainable long-term growth and strategic direction for the company’s operations. The incumbent will be accountable for achieving results through comprehensive business management over the long-term. He/ she will lead the business to deliver on its aspirations and help to navigate the ever-changing environment.

He/she will report directly to the Group Chief Executive Officer for Old Mutual Malawi Limited and the incumbent will be based in Blantyre, Malawi. We are looking for an individual who will enable our business to drive further growth. We are aware that the best people are required to drive our long-term strategy.

If you have a growth mindset and want to work for a leading financial services company, Old Mutual is the company for you.

MANAGING DIRECTOR – OMLAC MALAWI LTD

JOB SPECIFICATION

The successful candidate will be responsible for the strategic direction of the overall OMLAC Malawi Ltd business, by developing a sustainable long-term growth and strategic direction for the country operations. The incumbent is accountable for achieving results through comprehensive business management over periods of 3 – 5 years.

DUTIES AND RESPONSIBILITIES

1. Develop the overall corporate commercial and retail segment strategy and corporate broker distribution strategy to achieve sales targets, with clear plans for delivery). Translate these strategies into relevant structures and processes while ensuring a wider fit into the business.
2. Develop overall distribution growth strategy and set aggressive performance targets for the different channels that result in increased sales and improved operating efficiencies.
3. Create a sustainable channel economic model that incorporates the regulatory framework and is based on delivering products that are relevant to customer needs and competitive in the marketplace.
4. Ensure the financial viability and profitability of all segments in the Life Company.
5. Ensure efficient business operations that deliver customer satisfaction and retention.
6. Ensures development of new business initiatives that deliver new sources of customers and revenue.
7. Analyse risks and compliance through the risk function and come up with strategies for managing them and ensuring that assets of the Company are adequately safeguarded and maintained.
8. Ensure capable management succession as well as progressive employee training and development programs.
9. Ensure that capability and synergy exists within each channel and segment to manage key external client relationships in order to enhance distribution reach.
10. Foster a culture that promotes customer focus ethical practices, a positive work climate and high performance enabling the business to attract, retain and motivate a diverse group of employees.
11. Engage and manage all relevant stakeholders continuously i.e. internal and external.

QUALIFICATIONS AND EXPERIENCE 

1. Postgraduate level qualification, including professional certifications in insurance/financial services.
2. Have solid business acumen.
3. A minimum of 10 years’ insurance or financial services experience with some time spent at executive management level.
4. Proven track record of success in business, working through other people, communicating, influencing and delivering through others
5. Adaptable and able to cope with a dynamic environment.
6. Reliable, have integrity and a display a professional approach.
7. Strong influencing and stakeholder management skills.

KEY COMPETENCIES

1. Strategy, Information Technology and Innovation, Governance, Risk and Controls
2. Leading with Influence
3. Stakeholder Management (group collaboration)
4. Customer led
5. Execution
6. A positive and growth mindset

YOUR TIME IS NOW TO BE YOUR EXCEPTIONAL BEST AT OLD MUTUAL!

Interested candidates who meet the minimum requirements can submit their applications, updated CV and certified copies of their academic certificates to: www.oldmutual.co.mw, click about us, open careers; Reference code JR- 53231 OMLAC MANAGING DIRECTOR – MALAWI by 24 April 2024.

Only shortlisted candidates will be contacted, all applicants who have not received feedback by 17th May 2024 must consider their application unsuccessful