Nib Insurance Company (NIC) was established by 658 shareholders with an authorized capital of Birr 50.0 million and a Paid-Up Capital of Birr 14.0 million in May 02, 2002 with 4 branches in Addis Ababa and a total staff size of not more than 50. Currently, the paid up capital has reached to Birr 250 million and the number of shareholders increased to 1,014. NIC provides both General (Non-Life) Insurance and Life Assurance Services to its clients.

Basic Functions

Under the general guidance of the Chief Executive Officer plans, organizes, directs and controls all functions related to finance, human and material resources, and administration services; ensures compliance of appropriate laws, policies and procedures; proposes measures to enhance good labor relations, management of personnel and other administrative matters.

Specific Duties and Responsibilities

• Planning, organizing, directing and controlling the activities of finance, human & material resources and administration services of the company;
• Supervising and controlling the operation of company’s accounts; exercising control on the maintenance of proper books of accounts, taxation and inventory;
• Ensuring that company funds are timely collected and properly utilized in accordance with company policies, procedures, plans and programs;
• Directing, monitoring and controlling the orderly clearance of payables and receivables; securing management’s approval for the write-off of unclaimed liabilities and bad debts;
• Directing the preparation of corporate financial plans as well as annual capital and operating budgets;
• Formulating and developing financial, human and material management policies and procedures; directing the planning, installation and maintenance of proper accounting, budgeting and financial control, human resource and property administration systems;
• Ensuring that annual accounts are properly and timely closed, and that periodical financial statements and reports are prepared and submitted to Management;
• Arranging for and submitting accounts of the company to regular and on the spot audit;
• Ensuring and arranging for adequate insurance coverage for the property and liability of the company;
• Ascertaining that human and material resources as well as administrative services are timely provided to all units of the company to ensure smooth and continuous operations;
• Directing and controlling recruitment, promotion, placement, transfer, salary and benefits administration, work discipline, training & development, termination of services, performance appraisal, grievance handling and employee records management; ensuring conformity with the provisions of the labor law and directions from management in the administration of employees;
• Supervising and ensuring the proper provision of general services including janitorial, custodial, communication, photocopying, duplicating and maintenance services;
• Prepare and submit periodical reports;
• Perform other activities as required.

Competencies 

• Intensive knowledge of financial management principles and concepts;
• Comprehensive knowledge of human resources management;
• Comprehensive knowledge of procurement and property management;
• Thorough knowledge of industrial relations;
• Ability to timely consolidate accounts and rectify irregularities;
• Ability to coordinate and direct a variety of activities;
• Ability to create effective work teams;
• Commendable organization and time management skill.

Job Requirement

Education: BA Degree in Banking and Insurance or Management or Accounting and Finance or Economics or in related fields, preferably with ACII or LOMA

Experience:12 years relevant experience, of which 5 years in senior managerial position in core insurance areas.

Job grade: XIV