Africa Merchant Assurance Company Limited (AMACO) has declared the position of the Chief Executive Officer (CEO) vacant.
In a notice on Thursday June 13, AMACO Board of Directors invited interested and qualified candidates to apply for the position.
“AMACO is undergoing a major transformative reorganization. The Company is looking for a “Change CEO” to lead the new board’s strategic agenda and ensure a high-performing Company that exceeds customers’ expectations and gives value to shareholders,” read part of the notice.
The CEO will be responsible for the day-to-day operation of the Company, develop and recommend to the Board the long-term strategy, annual business plans, and annual operating budgets.
He/ she will also maintain public confidence in the services offered by the company by developing and promoting effective industry-specific management practices, income protection mechanisms and compliance with the relevant statutory requirements.
Furthermore, the CEO should be able to lead the modernization and transformation of the Company.
Qualifications for the CEO Post at AMACO
Interested candidates must have a bachelor’s degree in either Finance, Insurance, Business or any other relevant degree from recognized university.
They must also hold a master’s degree in either Finance, Insurance, Business or any other relevant master’s degree from a recognized university.
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Additionally, a minimum of fifteen (15) years’ experience at a senior management level in a large organization, preferably Reinsurance, Insurance or Financial Institution is required.
Besides, they must have a professional qualification in either Insurance, Accounting or Banking or other relevant professions; – ACII, CPA(K), FIA, CIM, CIMA.
Terms of Service and Remuneration
The appointment will be for a contractual period of five (5) years, renewable once for a similar period subject to satisfactory performance and delivery of set performance targets and outcomes.
“We offer a competitive remuneration package,” the notice further read.
How to Apply
Suitably qualified candidates should send their applications to [email protected] addressed to the Human Resource Manager P. O. Box 61599-00200, Nairobi. Hard copy applications will not be accepted.
The applicants must attach their Curriculum Vitae (CVs), academic certificates, professional certificates, and a valid KRA tax compliance certificate.
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The candidates must also submit their valid police clearance certificate, valid CRB clearance certificate and valid HELB clearance certificate.
Also to note, the applications should have the names and contacts of three referees.
The deadline for applications is on or before June 28, 2024, before 5.00 p.m.
Africa Merchant Assurance Company Limited was incorporated in Kenya and licensed to transact General insurance business. It was licensed and began full operations in the year 2000.
The company is associated with President William Ruto and came on the spot in 2021 after it won a Ksh190 million tender for the provision of insurance covers for vehicles and motorcycles of Nairobi County, which had been cancelled in 2020 by the procurement regulator.
In 2023, it faced allegations of hiding assets to evade auction of over Ksh19 million owed to no-governmental organization.
AMACO is headed by Silas Simatwo as the chairman of Insurance who has worked in the insurance company for over 23 years.
He started as a Managing Director in the Company where he held the position from 2001 to 2010 before occupying the role of chairmanship.
The President also appointed Silas Simatwo the chairperson of the Digital Health Agency to serve for three years effective March 15.
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