Posted on :
11 Aug, 2010
11 Aug, 2010
Our client, First Bank of Nigeria Plc, is the largest and most profitable first-tier financial institution in Nigeria with a network of over 600 locations across the country, offering a full range of banking products and services as well as non-banking financial services through its subsidiaries, including financial advisory, asset management, trust and insurance brokerage services. It has a strong history and track record of stability and corporate governance.
As a major part of its expansion initiatives, First Bank has partnered ‘with Sanlam Group, a leading international insurer based in South Africa, to establish a foremost insurance underwriting company in Nigeria. The Sanlam Group, the second largest non-banking financial services group in South Africa, currently functions via 3 main clusters of business: life insurance, general insurance and asset management. It has operations in Botswana, Kenya, Ghana, Zambia, Tanzania, Uganda and India.
The Bank seeks to recruit a focused, results-oriented and suitably qualified professional to fill the position of Managing Director/Chief Executive Officer in its insurance subsidiary. The Chief Executive will run the First Bank/Sanlam Life Insurance Joint Venture Company and will also be ultimately responsible for establishing and running a related Non-Life Insurance Joint Venture company.
Reporting to the Board, the successful candidate will serve as the principal strategy and business development executive of the company and will have ultimate P&L responsibility. He/she will be responsible for developing, implementing and managing short, medium and long-term strategies that will ensure the continued growth and profitability of the company. Specifically, the candidate will:
Job Title: Managing Director/ Chief Executive for FBN Life Assurance Company.
• Champion the formulation of the company’s corporate strategies and ensure implementation.
• Serve as a key brand icon for the company, creating a niche for it in the insurance sector and consistently reinforcing and promoting the corporate brand value and identity.
• Lead the overall business development efforts (including deal sourcing and origination) to ensure the realization of the company’s expansion and growth aspirations.
• Develop and maintain relationships with key stakeholders and lead the development of relevant strategic alliances.
• Drive the development of annual operating plans including business plans, operational requirements, staffing and budgets to ensure business continuity.
• Take full ownership of the company’s financial performance and provide periodic update on it to the Board.
Qualifications, Experience and Attributes
• A good first degree in any field of study from a reputable tertiary institution. An MBA or any other higher degree will be an added advantage.
• Professional qualification(s) in Insurance (e.g. ACII).
• Minimum of fifteen (15) years’ post-qualification experience, including five (5) years’ experience in the
• Insurance industry and at least five (5) years’ experience at executive management level. Exceptional executives with relevant experience from other industries may be considered.
• Excellent relationship management and strategic networking skills at the highest level in the private and public sectors.
• Strong understanding of the application of risk management in the context of insurance businesses.
• Sound knowledge of regional and global trends in the insurance industry as well as an understanding of the key macroeconomic drivers.
• Excellent communication and interpersonal skills.
• Excellent leadership, negotiation, marketing, planning and organization skills.
Method of Application
To apply, please quote ES00540 as the subject of your e-mail and send your current curriculum vitae (prepared as a word document, and saved with your full names), a statement of how you meet our selection criteria, and the names and contact details (including telephone and e-mail addresses) of three referees who are knowledgeable about your professional achievements and abilities to us at[email protected] not later than August 24, 2010.
All applications will be treated in confidence.
Only short-listed candidates will be contacted