Background
Pula AG is an agricultural insurance and technology company incorporated in Switzerland that designs and delivers innovative agricultural insurance and digital services to help smallholder farmers and rural clients endure climate risks, improve their farming practices, and bolster their profits. Pula has recently formed a Reinsurance company Pula Re which is a Bermuda-based reinsurance company fully owned by Pula AG.
The company is looking to hire an extraordinary Founding Pula Re Managing Director who will report to the Pula Re Board of Directors.
If you’re a visionary leader with a proven track record of shattering conventions, a commercial powerhouse with deep reinsurance expertise and a passion for unlocking Africa’s untapped potential, this is your moment. Join us to reshape the future of reinsurance and create a lasting impact.
Core values of Pula:
- Obsessed with results:
We are responsible for our future and therefore we get things done! - Connect the Dots:
We continuously identify different customer needs & business problems and build solutions that deliver value. - Have a Can-do Attitude!
We dare to do things differently to make things work. - We have each others’ back:
We look out for each other & we share high-quality, timely feedback that makes us better.
The Opportunity
As the Founding Managing Director of Pula Re, you will be the Architect of a bold chapter in African reinsurance. You’ll lead the strategy, operations and growth of a dynamic reinsurer designed to address the unmet needs of Africa and Asian insurance markets. With a base salary, bonus structure and an exceptionally attractive ownership structure, this role offers a mix of the challenge, growth, financial upside of owning a piece of a game-changing venture.
You will operate at the intersection of innovation, leadership, impact, forging partnerships with insurers, reimagining how reinsurance solves their pain points, and challenging the status quo of a traditional industry. This is a rare opportunity to build something from the ground up, backed by Pula’s proven track record and global vision.
Responsibilities
Strategic Leadership
- Lead the Pula Re senior management team to coordinate and develop strategy and Board Approved KPIs for a 3-year rolling strategic business plan and proactively manage delivery against KPIs and/or reset targets as Pula Re better understands the market and opportunities.
- Drive the successful achievement of objectives and execution of strategy and business plan and if required the ability to pivot swiftly and proactively to adapt the strategy to changing circumstances.
- Take professional and administrative responsibility for Pula Re’s operations, maintain, and develop an appropriate organization to support delivery of Pula Re’s responsibilities.
- Optimise as far as is reasonably possible the use and adequacy of resources including through review and proposal to the board on the extent of the Pula Advisors AG Services Contract.
Team Leadership
- Bring people together to develop an effective and diverse team which can achieve the mission of Pula Re
- Be the line manager, team leader and ultimate executive responsible within Pula Re’s management team
- Regularly review the organizational structure and recommend changes as appropriate.
- Maintain overall responsibility for organizational development and personnel management of all employees within Pula Re.
- Actively promote an open culture and values, ensuring that sound financial practices and the highest ethical standards are maintained at all times.
Compliance and Governance
- Assume ultimate responsibility for ensuring compliance with all the laws and regulations that will govern Pula Re’s operations
- Maintain a proactive risk culture within the company in the broadest sense.
- Provide well-founded advice on Pula Re’s overall strategy and the broader objectives of agricultural insurance to the Pula Re Board of Directors
- Ensure that Pula Re obtains, maintains and strengthens its rating levels with external ratings agencies.
Business Management
- Pula Re will be a start-up for its first few years, operating on a very lean structure. This means the MD will be responsible for a lot of hands-on work
- In the first few months before a fully-fledged team is on board, take personal ownership of key relationships such as the regulator, the rating agencies, government ministry/agencies, clients, and other reinsurance companies.
- Take a leadership role in driving and coordinating all activities necessary for the establishment of Pula Re in line with the approved Business Plan
- Take overall responsibility for and provide general oversight of all activities of Pula Re and assure a smoothly functioning, efficient organisation with ultimate responsibility for the management & reporting of the performance budget.
- Put in place effective administrative structures, processes and systems.
- Demonstrate a highly visible engagement in Pula Re’s main business objectives, such as enhancing the experience of Pula clients. This will involve establishing and running a world-class reinsurance underwriting and claims management process, with minimal turn-around times, with zero tolerance on operational and reputational risks.
- Establish a rigorous risk and compliance function that will ensure compliance with all the laws and regulations that affect Pula Re’s operations.
- Manage the risk profile/tolerance of the company in accordance with the strategic plan, including the health and safety performance of the business.
- Ensure appropriate internal controls are in place and take ultimate responsibility for audits.
- Ensure that the legal interests of Pula Re are protected and pursued.
- Ensure effective implementation of board decisions.
What you need to be successful
Ideally the Managing Director will have a track record of establishing and leading a reinsurance company that serves clients in Africa and Asia. They must also possess an entrepreneurial drive with an ability both to be innovative and to encourage creative thinking in those around them. Finally, it is critical that the Managing Director understands Pula’s unique positioning and has a passion for Pula’s development mission along with a clear commitment to equality, diversity and inclusion.
Background Requirements
- Knowledge, experience and understanding of the reinsurance needs of the African and Asian markets.
- Strong understanding of reinsurance operations, preferably with retrocession experience.
- Minimum 15 years of relevant, rich and diverse professional experience and knowledge in insurance and/or reinsurance.
- Master’s degree in a relevant sector such as engineering, finance, banking, economics, business, or law.
- Ability to innovate and challenge the status quo.
- Passion to make a difference in emerging and frontier markets.
- Possess commercial acumen.
- Ability to communicate and function in a culturally diverse and change oriented setting.
- Demonstrated leadership capabilities.
- Excellent written and verbal communication skills in English. Working knowledge of French would be an added advantage.
Strategic Capability
- A strong analytical mind and ability to grasp the nature of potential projects quickly.
- Strong skills as a developer of people, celebrating individuals and teams for achieving significant milestones and goals.
- Delegation ability, giving significant responsibilities to team members and holding them accountable.
- Good judgment of people.
- Personal and active involvement in sourcing, selecting, developing and retaining top talent for key positions.
- Well-honed communication and influencing skills.
- Presence and gravitas in dealings with partners from a variety of backgrounds, including governments.
- ‘Altitude’: an ease operating at the most senior levels.
- The ability to work with a highly accomplished board as a credible partner: informing its decisions and deriving the maximum advantage for Pula Re from its collective experience
Personal Attributes
- Energy, commitment and an ability to operate with minimum support.
- Unquestionable integrity and moral character.
- Ability and proven track record of dealing in a multi-cultural environment and building effective working relations with clients and colleagues
