RECRUITMENT OF MANAGING TRUSTEE
The Policyholders Compensation Fund (PCF) is a State Agency established under Section 179 of the Insurance Act (Cap 487 of the Laws of Kenya) with the mandate of protecting insurance claimants of an insurer placed under a manager appointed under section 67C (2) or whose license has been cancelled under the Act, through the provision of compensation for their unsettled claims.
The Fund is seeking to competitively recruit for the position of a Managing Trustee who will also serve as Chief Executive Officer. Reporting to the Board of Trustees, the Managing Trustee will be responsible for implementing PCF’s Strategic Plans and policies as approved by the Board.
The successful candidate will be engaged on a three (3) years renewable Contract.
Job Title: Managing Trustee
Proposed Grade: PCF 001
Organization: Policyholders Compensation Fund
Location / Work station: PCF Head Office/ Nairobi
i) Reports to: Board of Trustees
ii) Direct Reports: Departmental Heads
iii) Indirect Reports: Head, Internal Audit & Risk Management
I. JOB PURPOSE: Responsible to the Board of Trustees for overseeing all the strategic, operational and financial performance of the Fund through visionary leadership and effective management of the organization.
II. KEY RESPONSIBILITIES & DUTIES
1. Strategic Responsibilities
a) Providing strategic leadership to the Fund to deliver on its mandate as stipulated in the Insurance Act;
b) Advising the Government on the national policy to ensure accessible and adequate compensation protection contributing to a stable insurance industry;
c) Developing and strengthening networks and partnership with other government agencies, the private sector and strategic partners aimed towards the attainment of the Funds mandate;
d) Promoting the Fund’s image and developing a good working relationship with all stakeholders and partners;
e) Representing the Fund and the country in regional and international associations of Insurance Compensation/ Protection;
f) Leading and overseeing formulation, implementation and review of the Strategic Plan, Business plans, Procurement plans, Annual work plans and Budgets of the Fund and reporting to the Board;
g) Guides the Board to articulate its own role and accountabilities and that of its committees and individual members, and to evaluate its performance regularly;
h) Liaises with the Chair of the Board to enable the Board fulfil its governance functions and facilitates the optimum performance by the Board, its committees and individual Board members; and
i) In liaison with the Chair of the Board, focuses Board attention on strategic issues.
2. Managerial / Supervisory Responsibilities
a) Provides general oversight of all activities of the Fund and manages the day-to-day operations for a smoothly functioning and efficient organization;
b) Assures program quality and organizational stability through development and implementation of standards and controls, systems and procedures, and regular evaluation;
c) Assures a work environment that recruits, retains and supports quality staff and ensures an effective process for selecting, developing, motivating, and evaluating staff;
d) Recommends staffing to the Board of Directors and other relevant Government agencies and ensures appropriate salary structures are developed and maintained in accordance with applicable guidelines;
e) Specifies accountabilities for management and evaluates its performance regularly;
f) Attends to personnel matters including organization structures, appointments, welfare, training, industrial relations, separation and effective management succession plans;
g) Cascades performance contract deliverables.
3. Operational Responsibilities
a) Ensuring continuous achievement of the Fund’s financial and operational goals and objectives while ensuring continuous improvement in the quality and value of services provided by the Fund;
b) Ensuring the Fund is appropriately organized and staffed and taking disciplinary measures as necessary to enable it to achieve the approved strategy;
c) Ensuring that expenditures of the Fund are within the authorized annual budget;
d) Assessing the principal risks of the Fund and ensuring that these risks are monitored and managed;
e) Ensuring effective internal controls and management information systems are in place for effective, lawful and ethical performance;
f) Ensure payment of compensation in accordance with the Insurance Act;
g) Ensuring that the Fund maintains high standards of corporate citizenship and social responsibility;
h) Acting as the principal spokesperson of the Fund;
i) Communicating effectively with the Government and other Government agencies, regulated entities, employees, other stakeholders, and members of the public;
j) Ensuring that the Trustees are properly informed to enable them make appropriate decisions;
k) Ensuring the integrity of all public disclosure by the Fund;
l) Providing advice as required on all matters within the Fund’s responsibility;
m) Abiding by specific internally established control systems and authorities, leading by example and encouraging all employees to conduct their activities in accordance with all applicable laws and the Fund’s standards and policies;
n) Ensuring the filing of all legal and regulatory documents and monitoring compliance with relevant laws and regulations; and
o) Performing such other duties as may be assigned by the Board.
III. JOB DIMENSIONS
1. Financial Responsibility
a) Oversee the development of the Fund’s budgets.
b) Overall responsibility for collection of revenues.
c) Overall responsibility for approval of expenditure.
d) Overall responsibility for all procurement activities.
e) Overall responsibility for all investment activities.
2. Responsibility for Physical Assets
a) Responsible for physical assets assigned by the Fund.
b) Provide oversight for all the unit/sectional/departmental/divisional/institutional physical assets.
3. Decision Making/ Job Influence
a) Make strategic, operational and financial decisions.
b) Provide leadership to employees of the Fund.
c) Plan the work of the staff in the Fund.
d) Monitor subordinates work performance.
e) Appraise/evaluate subordinates performance.
f) Assign work to subordinates.
4. Working Conditions
a) Fosters a corporate culture that promotes ethical practices, service de l ivery and good corporate citizenship.
b) Effectively implements environmental, safety and health policies.
IV. JOB COMPETENCIES (Knowledge, Experience and Attributes / Skills)
1. Academic Qualifications
Must have a Bachelor’s degree and Master’s degree from a recognized University in either of the following fields: accounting, actuarial science, business administration, economic, finance, insurance or law.
2. Professional Qualifications / Membership to Professional Bodies
A registered member of a professional body and in good standing.
3. Previous relevant work experience required
Considerable knowledge, competence and experience of at least ten (10) years, five (5) of which should have been in senior managerial capacity in insurance, accounting, finance, actuarial science or banking.
4. Other Requirements
i. Satisfies the requirements of Chapter Six of the Constitution.
ii. Is not engaged in insurance business as a director or shareholder of any insurer, broker, insurance agent, or in any other sector of the insurance industry, and if appointed shall be disqualified if he, his spouse or dependent
child becomes such director, employee, officer or shareholder.
iii. As tabulated below:
a) Specialist knowledge in insurance
b) Strong negotiation and reporting skills
c) Strong presentation skills
d) Good mentorship and coaching skills
e) Report and speech writing skills
f) Good analytical, investigative and inspection skills
g) Knowledge of Strategic management, project planning and budgeting resource management, implementation as well as monitoring and evaluation
h) Proficiency in computer applications
Behavioral Competencies / Attributes
a) Effective communication skills
b) Leadership and supervision skills
c) Strong organization and interpersonal skills
e) Ethical and integrity
f) Team player
g) Ability to work under pressure, prioritize and multitask
Suitably qualified and experienced individuals should submit applications enclosing a detailed Curriculum Vitae (CV), copies of relevant academic and professional certificates/testimonials.
The CV must at the minimum provide details of the applicant’s email address, day-time mobile telephone numbers, details of current employer, current remuneration and names and contacts of three (3) referees familiar with the applicant’s professional background and experience.
Applications must also be accompanied with copies of the following valid documents:
- Tax compliance certificate from Kenya Revenue Authority;
- Clearance Certificate from Higher Educations Loans Board;
- Clearance from the Ethics and Anti-Corruption Commission;
- Certificate of Good Conduct from the Directorate of Criminal Investigations;
- Clearance from an approved Credit Reference Bureau;
- National Identity Card.
Applicants are also notified that shortlisted candidates may have to undergo both psychometric assessment testing and necessary integrity background checks with relevant law enforcement institutions.
Applications, addressed to the undersigned, may be delivered at the Policyholders Compensation Fund offices at Zep Re Place, 2nd Floor, Longonot Road, Upper Hill. Please note that these should be sealed, marked “Confidential” and indicate the job reference “PCF/MT/01/2020”.
Alternatively, they may be sent by post or email to:
Board of Trustees
Policyholders Compensation Fund
Zep-Re Place, 2nd Floor
Longonot Road, Upper Hill
Applications must be received by close of business on 11th March, 2020.
PCF is an Equal Opportunity Employer committed to diversity and gender equality.
Canvasing in any manner shall lead to automatic disqualification.
Only shortlisted candidates will be contacted.