Principal Officer

Location: Nairobi, Kenya

Reports To: Board of Directors / Chief Executive Officer

Contract Type: Permanent

Department: Executive Management

Position Overview

Our client, a reputable mid sized insurance brokerage, is seeking an experienced and visionary Principal Officer. In this role, you will be responsible for steering the company’s strategic direction, ensuring operational excellence, and achieving full compliance with the Insurance Act (Cap 487) and regulations set forth by the Insurance Regulatory Authority (IRA). This is a pivotal role for a seasoned insurance professional seeking to make a significant impact in Kenya’s insurance sector.

Key Responsibilities

Regulatory Compliance & Governance

• Serve as the primary liaison between the brokerage and the IRA, ensuring timely and accurate submission of required reports, returns, and notifications.

• Develop, implement, and maintain internal policies and procedures to ensure compliance with the Insurance Act, IRA regulations, and other applicable legislation.

• Oversee licensing and approvals, including submission of the Principal Officer’s qualifications and experience as required by the IRA.

• Ensure the preparation and submission of annual financial statements, actuarial reports, and statutory documents in compliance with IRA guidelines.

Strategic Leadership & Business Development

• Collaborate with the Board and Executive Team to define and implement the company’s vision, mission, and strategic objectives.

• Identify and pursue new business opportunities, partnerships, and market expansion strategies.

• Develop and implement risk management strategies to mitigate potential liabilities and maintain the company’s financial stability.

Operational Excellence

• Lead, mentor, and develop a high performing team, fostering a culture of accountability, continuous improvement, and customer focus.

• Establish performance metrics and oversee regular staff evaluations to ensure operational efficiency.

• Manage resource allocation, including budgeting and financial planning, to optimize operational performance and cost efficiency.

Stakeholder Engagement

• Build and maintain strong client relationships, ensuring high levels of satisfaction and retention.

• Represent the company in industry forums, conferences, and events to raise brand visibility and stay informed of trends.

• Engage with regulatory authorities to advocate for policies that support the growth and development of the insurance sector.

Qualifications & Experience

Educational Background:

• Bachelor’s degree in Insurance, Business Administration, Finance, Economics, or a related field.

• A Master’s degree is an added advantage.

Professional Certifications:

• Associate of the Chartered Insurance Institute (ACII) or membership with the Insurance Institute of Kenya (IIK).

Experience:

• At least 10 years of experience in the insurance industry, including a minimum of 5 years in senior management.

• Strong track record in regulatory compliance, business development, and team leadership.

Additional Requirements:

• Valid Certificate of Good Conduct.

• Clearance from the Kenya Revenue Authority (KRA) and Higher Education Loans Board (HELB).

• Must meet the “fit and proper” criteria as outlined by the IRA.

Personal Attributes:

• Integrity: Upholds the highest ethical standards in all business dealings.

• Leadership: Inspires and motivates teams to achieve organizational objectives.

• Analytical Thinking: Strong problem solving and decision making abilities.

• Communication: Excellent verbal and written communication skills.

• Adaptability: Responsive and resilient in a dynamic and regulated environment.

If you have the experience, leadership capabilities, and passion required for this role, we’d love to hear from you!