Managing Director | Aruba

Position: Location:
Managing Director | MD Dutch Caribbean
Industry: Job ID:
Finance /  Insurance ARMD101

Key Responsibilities:

The Managing Director will set direction by creating and sustaining a culture of high performance, expectations, accountability, collaboration, and integrity while defining and implementing clear short-term and long-term strategic plans as it relates to the business operations. The Managing Director will hold himself/ herself and their team accountable for operational and financial results and will report to the Supervisory Board of Directors.
The ideal candidate is very well experienced within Insurance or Banking Insurance, is well versed in the insurance products, has underwriting experience, strong commercial knowledge, and excels at managing the teams (agents, brokers..).

▪ Accomplishes business objectives by making recommendations in relation to business plans, budgets and results measurements through allocation of resources and reviewing progress.
▪ Develops and maintains good and compliant working relationship with regulatory agencies, leadership team and staff.
▪ Proactively identify, assess, and inform the Supervisory Board of Directors of internal and external issues that affect the Companies.
▪ Builds Company image by enforcing ethical business practices.
▪ Assumes full management responsibility for the company, while working as an integral team member within the Managing Board.
▪ Provides leadership, intellectual guidance, and the requisite urgency in executing a corporate strategy that will maximize the potential of its financial and human resources, while implementing strategies that limiting risks and ensuring compliance with laws and regulations.
▪ Establishes, implements, and maintains an effective system of internal and external controls while ensuring that personnel of all levels understand their role and are fully engaged in the control process.
▪ Establishes and maintains appropriate segregation of duties and clear lines of responsibilities, both at individual level and between functions, to ensure an efficient Internal control system.
▪ Accomplishes business and corporate objectives by contributing to the development of strategic financial business plans, managing the budgets, and focusing on result measurements.
▪ Ensures trust and credibility with key stakeholders by maintaining detailed knowledge of current market conditions and compliant business practices.
▪ Develops strong team spirit and working relationships with other executives, senior management, and staff, providing advice, guidance, and coaching as needed.
▪ Reviews growth results, operations, sales and activity reports, and other performance data to measure productivity and goal achievement and to determine areas needing improvement and cost reduction.
▪ Allocates resources, reviews progress, and makes needed mid-course corrections on budget activities.
▪Develops and executes business strategies to achieve short and long-term goals.
▪ Reports to the Supervisory Board in providing market insights and strategic advice.
▪ Develops and implements business plans to improve cost-efficiency.
▪ Maintains positive and trust-based relations with shareholders and the Supervisory Board of Directors.
▪ Oversees the business operations, financial performance, investments, marketing, strategy and business ventures.
▪ Supervise, guide, and delegate leadership in their respective duties.
▪ Ensures the policies and legal guidelines are clearly communicated and followed by the staff.
▪ Assesses, manages, and resolves problematic developments and situations.
▪ Builds and enhances the Company’s public profile during regulatory meetings, visits etc.

▪ Assist in managing the Companies’ future growth and direction, while supporting financial and operational initiatives.
▪ Provides leadership in relation to the development and continuous evaluation of short and longterm strategic financial objectives.
▪ Providing timely and accurate analysis of budgets, financial trends and forecasts.
▪ Establish and maintain strong relationships with the members of the Managing Board to ensure that the needs of the business are identified, and solutions can be executed.
▪ Provide advice on the financial implications of business activities.
▪ Manage processes for financial forecasting, budgets and reporting to the company
▪ Provide recommendations to strategically enhance financial performance and business activities.
▪ Ensure that effective internal controls are in place and compliance with laws and regulations in Aruba in conjunction with the GRC Managing Director.
▪ Accomplishes human resource strategies by determining accountabilities; communicating and enforcing values, policies and procedures, implementing recruitment, selection, orientation, training, and communication programs within the Companies.
▪ Develops financial well-being of the Companies by providing financial projections and accounting services, preparing growth plans and directing staff.
▪ Assists in developing Company-wide strategic goals by analyzing current trends, evaluating critical measurements and strategies, resolving problems and implementing change procedures.
▪ Monitor financial and operational performance by analyzing data and results. Initiate correct accounting and financial principles to minimize risk and variances.
▪ Develop financial strategies by contributing and reporting financial data, analysis and recommended growth and direction.
▪ Ensure functional goals, i.e., underwriting, life, medical, pensions etc. are aligned with the Companies’ objectives in conjunction with the Managing Board.
▪ Review financial, actuarial and administrative aspects of life, medical and pension plans/products that are offered by the company
▪ Approve pension benefit changes and amendments to life, medical and pension plans/products that are offered in Aruba.
▪ Growth of the life, medical and pension business in Aruba in conjunction with management.
▪ Promoting awareness and understanding of life, medical and pension plans/products among members, potential members, and other stakeholders in Aruba.
▪ Reviewing the performance of the life, medical and pension plans/products and making recommendations as it relates potential improvements that can be implemented in conjunction with senior management. to external professional consultants, advisors and other pension administration service providers to the Supervisory Board of Directors as required.
▪ Ensures the management and investment of assets for long-term growth, with acceptable risk to meet the liabilities of present and future life, medical and pension payments.
▪ Responsible for the development of life, medical and pension products for the market in conjunction with key stakeholders, i.e., Actuary, Finance Manager etc.
▪ In conjunction with the GRC Managing Director, ensures that the company is conducting its business in accordance with Aruba and international laws/regulations as they pertain to the life insurance, medical insurance and pension business. Ensures that professional standards, accepted business practices, and internal systems of control necessary to achieve compliance with the external rules, are followed.
▪ Promotes a culture of integrity and ethical decision-making throughout the organization.
▪ Periodic review of life, medical and pension policies and procedures and implement plans in mitigating risks that present themselves within the business.
▪ Consults with (senior) managers to ensure timely reporting, i.e., coverage ratio, 40-60 rule and solvency requirements etc.
▪ Keeps abreast of current trends and practices within the finance, life, medical and pensions field.
In conjunction with the GRC Managing Director, monitors and advises on any proposed and actual changes to the laws and regulations impacting the Companies.

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