Job Purpose
The Principal Officer will serve as the principal officer of the company as recognized by the Insurance Regulatory Authority (IRA). You will provide strategic leadership, oversee daily insurance operations, and ensure 100% compliance with all legal and regulatory frameworks. You will be responsible for driving sustainable business growth, managing risk, and protecting the company's financial health.
Key Responsibilities
1. Regulatory Compliance & Governance
- Act as the primary contact person between the company and the IRA.
- Ensure full compliance with the Insurance Act, IRA guidelines, and anti-money laundering (AML) regulations.
- Coordinate the timely preparation and submission of all required statutory returns and reports.
- Maintain the company's licensing and ensure all "fit and proper" requirements are met continuously.
2. Strategy & Business Growth
- Develop and execute strategic business plans to expand market share and drive revenue growth.
- Identify new market opportunities, build strategic partnerships, and manage high-value client relationships.
- Lead product development initiatives to match evolving market needs.
3. Operational
- Establish robust internal controls and risk management frameworks to mitigate corporate exposure.
4. Leadership & Stakeholder Management
- Manage critical relationships with underwriters, reinsurers, brokers, and industry associations.
Qualifications & Experience
- Education: Bachelor’s degree in Insurance or Actuarial Science from a recognized university OR a Diploma in Insurance from a recognized institution ( e.g. College of Insurance Kenya or Chartered Insurance Institute)
- Professional Qualifications: Full professional qualification in Insurance (e.g., ACII or AIIK) is mandatory.
- Experience: Minimum of five (5) years of experience in the insurance industry.
- Key Skills: Deep understanding of the Kenyan insurance regulatory landscape, exceptional negotiation skills, and strong financial acumen.
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