Managing Director - Old Mutual Insurance Company (OMICO)

Job description

Lets Write Africa's Story Together! Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this. Job Description The role is responsible for leading Old Mutual Insurance Company’s insurance function, providing strategic direction across underwriting, claims management, product development, risk management, and client solutions. The incumbent will drive the growth and sustainability of Old Mutual Insurance Company by developing a competitive portfolio of insurance products and services, contributing to risk appetite determination, strengthening policies and contracts, assessing individual and collective risk, and ensuring efficient claims assessment and payment processes. RESPONSIBILITIES Strategy Formulation and implementation Develops the strategy for the business, anticipates megatrends and complex challenges and opportunities. Ensures the strategy is successfully implemented and meets long-term business needs. Participates in the development of corporate strategy of the company, applies functional expertise to test the viability of the strategy and contributes creative ideas and insights to support the strategy formation process. Business Planning Leads the development of annual and longer-term business plans for the business, ensuring alignment with strategy; quantify business outcomes, i.e., revenues or other key performance indicators (KPIs) and resource budgets (financial and headcount); and ensures integration of key activities or projects across the organization. Financial Policies, Guidelines, and Protocols Leads and coordinates the development and delivery of financial policies, guidelines, and protocols across the business to ensure the company complies with regulations and good financial practice. Leadership and Direction Sets and communicate the strategy, along with the broad actions needed to implement it, for achieving the organisation's mission, vision, and values. Inspires a large or diverse workforce to commit to these tenets and do extraordinary things to achieve the organisation's business goals. Organisational Risk Management Takes overall responsibility for designing, developing, and delivering the organisation's risk management and/or risk control strategies. Policies and Procedures Development Leads the development of policies, procedures, and related guidelines for the business, ensuring integration with the broader corporate policy framework and compliance with national legal and regulatory requirements. Customer Relationship Development / Prospecting Develops and maintains professional interpersonal relationships with corporate senior executives of strategic potential accounts to facilitate business acquisition and retention. Takes overall responsibility for designing, developing, and delivering the organisation's client- or customer-management strategy. May personally manage relationships with the most-strategic clients and customers. Performance Management Manages and reports on business performance; holds direct reports accountable for achievement of business plans and takes corrective action where necessary to ensure the achievement of business objectives, balancing the need to deliver short-term business objectives with the longer-term delivery of stakeholder value. Organisational Capability Building Identifies the capabilities needed to meet the current and emerging business needs of the business. Evaluates current capabilities, identifies gaps, and prioritises development activities. Embeds personal development and the fulfilment of personal potential in the culture of the organisation. Build capabilities in the organisation through mentoring and other informal methods. Stakeholder Engagement Identifies and manages stakeholders up to and including the C-suite, finding out their needs, issues, and concerns and reacting to them by leading and coordinating the development of stakeholder engagement plans to support the communication of business information and decisions. Organisation Structure Defines the detailed organisation structure for the business to align with corporate principles Defines the relationship between elements of the organisation and the responsibilities of senior managers, to enable the organisation to achieve its business objectives. Corporate Representation Represents the organisation or institution in a variety of industry, institutional, and/or professional forums, boards, and committees to promote the company, brand or efforts. Represents the organisation in external relations with investors, clients, industry, partners, the public, and others. Prepares presentations and materials for professional partnering meetings, seminars, and conferences. Commercial Insurance Renewal Proposals Develops and presents proposals for renewal of very complex, high-value commercial insurance contracts to reflect changes in clients' needs, and/or changes to product design, and/or changes in the organization's risk appetite, utilising the expertise of in-house and/or external underwriting specialists where relevant. Advises potential clients on the insurance of very complex, high-value risks and guide them in their choice of commercial insurance solutions, configuring proposals that meet their business needs and utilising the expertise of in-house and/or external underwriting specialists where relevant. Minimum Qualifications and Experience Bachelor's degree in Insurance, Actuarial Science, Risk Management, Business Administration, Finance, Economics, Commerce, Law, or a related field. A Master's degree in Business Administration (MBA), Finance, Insurance, Strategic Management, or a related discipline is highly desirable. Professional insurance qualification such as Chartered Insurer (ACII/FCII), Associate/Fellow of the Insurance Institute of Zimbabwe At least 10 years' experience in the financial services sector in senior executive roles Competencies Builds Effective Teams Business Insight Communicates Effectively Customer Focus Decision Quality Ensures Accountability Financial Acumen Instils Trust Interpersonal Savvy Optimises Work Processes Organisational Savvy Plans and Aligns Strategic Mindset The Multi-Disciplinary Leader (MD-OMICO) is responsible for leading Old Mutual Insurance Company’s insurance function, providing strategic direction across underwriting, claims, product development, risk management, and client solutions to drive sustainable growth. The role oversees strategy execution, business planning, financial governance, risk management, policy development, and organisational performance while ensuring regulatory compliance and operational excellence. The incumbent builds and maintains strategic stakeholder and client relationships, represents the company externally, and leads the development of complex commercial insurance solutions and renewal proposals. Success in the role requires strong strategic leadership, financial acumen, customer focus, stakeholder management, organisational capability building, effective communication, and accountability. Skills Business Acumen, Financial Acumen, Stakeholder Management, Strategic Leadership, Technological Knowledge Competencies Builds Effective Teams Business Insight Communicates Effectively Customer Focus Decision Quality Ensures Accountability Financial Acumen Instills Trust Education Bachelors Degree (B) (Required), Masters Degree (M) (Required) Closing Date 10 September 2026 , 23:59 The Old Mutual Story!