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Recruitment at Saham Assurance Kenya

Saham Assurance Company Kenya Limited (Formerly known as Mercantile Insurance Company Limited)

Now a subsidiary of the Saham Group, we operate in 21 African Countries and in the Middle East, generating over USD 800 Million in business, through its ownership of over 20 insurance companies.

We are seeking a highly motivated candidate to fill in the following vacancy:

Internal Auditor
Reporting to the Audit Committee Chairman, the Internal Auditor will review the various operations of the departments both in life and general business to ensure compliance with the set controls, report any short falls and give recommendations to the audit committee.

Principal Accountabilities:
The Internal Auditor will be charged with the following accountabilities:-
  • Carry out periodic and continuous internal audit exercises on all functions and assets of the organization to minimise the risk of loss
  • Continuously evaluate internal control systems in line with changing demands and ensure that the systems are appropriately designed to serve the best interest of the organization at all times
  • Ensure that operations in various departments are conducted in compliance with laid down policy, procedure, work instructions and statutory regulations
  • Evaluate audit findings, draw comparisons and analytical reviews and advise the audit committee on continuous improvement measures
  • Identify and profile various risks inherent in specific audit assignments, discuss them with the audit committee and jointly agree on actions to be implemented for risk mitigation
  • Analyse the issues identified during audits, to so as to point out the risks they pose on the company
  • Understand the company’s strategy and business objectives so as to focus Audit’s work on the highest risks
  • Continuously review operating policies, procedures and work instructions and make recommendations to the audit committee on the necessary improvements
  • Evaluate, and examine policies, procedures and systems that are in place so as to protect the assets of the company
  • Regularly report to the Board audit committee on activities, issues and related recommendations
Qualifications, Experience and Knowledge:
  • Bachelor’s Degree in commerce (Accounting or Finance option)
  • CPA (K) or equivalent
  • At least 5 years’ experience in a similar function
  • Knowledge of the insurance industry policies, procedures, regulations, and laws
  • Knowledge of and skill in applying internal auditing principles and practices
  • Knowledge of the standards of the professional practice of internal auditing and the code of ethics developed by the Institute of Internal Auditors (IIA)
  • Basic MS office skills
  • Possess strong interpersonal, communication and negotiation skills
  • Self-driven individual with impeccable integrity

Head of Life Business
This position is responsible for the management of the operations and functions of the Life & Pensions Department.

The job is to oversee operational efficiency of the Life & Pensions Department in order to meet customer service expectations and also achieve revenue growth targets and Profitability.

Principal Accountabilities:
  • Manage Life and Pensions Department and develop strategy for growth of the business unit in line with the overall organization strategy
  • Improve and update procedures and processes to ensure excellent delivery of the services
  • Lead the capture of new markets through direct marketing of the services and retention of existing markets to facilitate revenue growth
  • Lead diversification of product portfolio through innovation, product development and formulation in liaison with the consulting Actuary
  • Prepare the comprehensive monthly, quarterly and annual premium production reports which are to be used by stakeholders and the  relevant regulatory bodies
  • Review the performance of the Life Fund during the year
  • Respond to correspondence, relating to claims handling emanating from brokers, clients, agents and lawyers
Qualifications, Experience and knowledge:
  • Bachelor’s Degree in commerce or actuarial science
  • Advanced Diploma in Insurance (ACII) qualifications
  • Preferably an MBA
  • At least 7 years’ experience in Life and Pension administration
  • Sound technical knowledge of Life & Pensions operations
  • Good knowledge of the insurance industry
  • Good leadership and management skills in order to be able to lead a team and achieve targets
  • Ability to display a high degree of professionalism and integrity
  • Excellent written and verbal communication skills
Interested candidates are requested to forward their updated CVs to:

Saham Assurance Company Kenya Limited
Ecobank Towers 16th Floor
P.O.Box 20680-00200
Nairobi, Kenya

or eMail:

Not later than 30th September 2014 stating their current and expected remuneration, daytime telephone contacts and addresses of three referees. 

Only shortlisted candidates will be contacted.

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