Chief Executive Officer SanlamAllianz

SanlamAllianz is looking to recruit a Chief Executive Officer for Zambia who will be accountable to the Board of Directors of Sanlam Life Insurance Zambia with a dotted line into the Regional Director of Sanlam Allianz

Closing Date is 9th January 2024

Background and role motivation

Sanlam, Africa’s largest non-banking financial services provider, and Allianz, one of the world’sleading insurers and financial services providers in 2023 received regulatory approvals for a joint venture that created the leading Pan-African non- banking financial services company with a presence in 27 countries in Africa. The joint venture operates as SanlamAllianz. The joint venture is expected to have a combined GEV of approximatelyR35 billion. Retail and corporate clients will benefit from a broader offering of insurance products tailored to their needs as well as best-in-class financial solutions. Products and services will be available in markets where one or both companies currently operate.

The priorities of SanlamAllianz are to drive financial inclusion, provide the best of two leading multinational brands with enhanced offerings inproperty and casualty as well as life insurance offerings, and grow the life and general insurance businesses. In Zambia, the business has a market share of 17%. The initial focus for the company was on individual life insurance, group life cover, retirement solutions, medical health insurance and bancassurance. SanlamAllianz Zambia is supported by highly rated reinsurers that complement their ability to underwrite world-class cover and strive to build reliable and secure relationships through first class underwriting, risk advisory service and efficient settlement of claims.

The Zambian business has gone through a consolidation phase which included the exit of health insurance and is now ready to embark and focus on transformational growth, supported by cultural transformation and alignment to the newly formed SanlamAllianz. The business requires a seasoned insurance industry executive and strong leader and relationship builder, with well-developed social capital and a sharp intellect and commercial acumen to establish and drive change management and a culture of performance through a business that has experienced a number of ownership and leadership changes over the years.

Position Summary

The Chief Executive Officer will be responsible for the leadership, strategic direction, business results and achievement of maximum return on group equity value for Sanlam Life Zambia.
The role will lead and coordinate the efforts of the senior executives and work with them and the Board of Directors to develop current and long-term objectives, policies and procedures, manage resources to meet goals and execute steps necessary to deliver the highest possible standards of business performance.

Overall key responsibilities

Leadership and Vision
Lead the Executive Team in developing and executing enterprise-wide strategies to optimize value by:

• Providing executive leadership with overall responsibility for business growth andprofitability of the organisation.
• Taking the lead in maximizing value for clients, partners and shareholders and ensuring sustained profitable growth.
• Enhancing organisational capability through strong, capable and innovative leadership.
• Establishing and drive strategic, operational and financial objectives which fulfil the company’s overall long-term position in the financial services environment, with a strong focus on driving sustainable profitable growth.
• Partnering with relevant internal and external stakeholders in driving innovation within the organisation, ensuring that local strategies are strategically and operationally supported to secure return on investment.
• Leading and driving the cultural transformation of Sanlam Life Zambia with the purpose of establishing a high-performance culture with values throughout the organisation being aligned to those of its shareholders.
• Leading the business transformation to ensure profitable growth.

Business Operations

Direct the business operations of the company through the Executive Team and other major business units ensuring alignment with the company’s overall strategic direction by:

• Playing a key role in facilitating discussions using meaningful data driven insights, which will influence decision making within the business.
• Leading the prioritisation of operational and IT development in consultation with the SanlamAllianz operational support teams.
• Setting operational principles that are conducive to stimulating premier financial, operational and individual performance.
• Conducting reviews and monitoring progress against annual, mid and long term business plans.
• Developing, for Board / regulatory approval (as required) all major change initiatives (including new or major revisions to policies and procedures) ensuring its alignment tostrategy and allocating appropriate resources to assure successful conclusion.
• Monitoring customer satisfaction, ensuring proactive management of changing needs and emerging trends.

Resource Management

Oversee the effective and efficient management of all operational, financial and humanresources across the company by:

• Driving enterprise-wide, long-range operational plans and executing decisions impacting the company’s strategic direction.
• Directing the financial and risk management activities and overseeing the corporate governance structures and guidelines to ensure compliance with all regulatory policies.
• Developing overall human resource policies with a focus on building and maintaining an effective senior management team, establishing a work environment characterized by high levels of employee engagement and building a skilled, agile workforce to deliver results.
• Managing clear performance contracting, empowerment and measurement of individual and/or team objectives that align to the strategy of the organisation.
• Facilitating seamless succession into key roles and maintaining an appropriate pay-for-performance alignment between compensation and business results.
• Transform the culture in the organisation and ensure intemalisation and alignment of values.

Compliance and Risk

Oversee compliance with all applicable governing legislation, regulations, directives, policies or industry association guidelines as well as risks arising out of unethical behaviour and improper market conduct and sales practices by:

• Ensuring implementation of risk management practices and procedures in accordancewith the risk management framework approved by the Board.
• Monitoring compliance through Legislative Compliance and Management Policyframework and taking corrective action when required.
• Addressing capital and operational risks through documented controls and recurring audits.
• Creating an atmosphere that fosters high ethical standards.

Skills and experience

• A degree in a financial/commercial related discipline and/or professional qualification in insurance, marketing, risk management or actuarial studies. An MBA will be an added advantage.
• A minimum of 5 years’ experience in the life insurance industry, with at least 10 years as Managing Director, Chief Executive Officer or similar leadership role with demonstrated success in leadership at Chief Executive level.
• Demonstrated success in culture-change/ legacy-change initiatives as a leader.
• Excellent understanding of the Zambian and global economic environments.
• A proven track record of successfully developing and implementing strategies that grow the business within the insurance sector.
• Excellent knowledge of the Zambian insurance Industry competitor environment as well as insurance principles, products and practices, and exposure or a strong understanding of the insurance regulatory environment in Zambia.
• Experience working in an organisation with complex structures.

Unique differentiators

• This is a unique opportunity for a strong insurance executive who enjoys the challenge of building and turning businesses around.
• Sanlam Allianz offers access to global best practice and a strong balance sheet.
• Stakeholders in the larger business and the Zambian board offer strong and committed support.
• The opportunity to work for the largest non-banking financial institution on the African continent.