Kathmandu. According to the Institutional Good Governance Guidelines 2080, the deputy chief executive officer (DCEO) should be appointed within three months of the vacancy. The NRA has not been able to implement this provision regarding the appointment of DCEO even after the completion of the year of the implementation of this provision.
Although there is a clear provision in the guidelines, the post of deputy executive chief has been lying vacant in six insurance companies for more than three months. Since the news of the vacancy of deputy executive chief was published, Prabhu Insurance has promoted Market Management Chief Lama to the post of Deputy CHIEF Executive Officer, no other insurer has appointed a new employee or given the responsibility to the old one.
Nepal Reinsurance Company, Himalayan Everest Insurance, Surya Jyoti Life, Met Life Insurance, Protective Micro and Liberty Micro Life Insurance among the small insurers are lying vacant for the post of Deputy CHIEF Executive Officer.
Damodar Bhandari is the assistant chief executive officer of Nepal Reinsurance. Gokarna Duwadi is working as assistant chief executive officer of Himalayan Everest Insurance. Parshuram Marasini is the CEO of Surya Jyoti Life. Similarly, Abhim Dangol is the chief executive and general manager of Protective Micro Insurance. Digvijay Singal, Chief Operating Officer of Liberty Micro Life Insurance, is working with the chief executive officer.
The NRA has made provisions in the Institutional Good Governance Guidelines regarding the deputy executive chief to prepare a qualified candidate from within the organization to take up the executive responsibility immediately in case the CHIEF Executive Officer is vacant or to provide the responsibility temporarily.
The absence of a deputy executive head for a long time within the institutional structure of the insurer to make policy decisions may jeopardize the operation and control of the company as a whole in the event of an unexpected vacancy in the chief executive position. There is no need to give leadership responsibility to the employees working within the organization immediately. Due to the limitations of both decision-making capacity and authority, there is a risk of zero as well as confusion at the top management level.
The DCEO level employees are taking work from the employees of the general manager or departmental manager level, saying that the expenses of the salary will increase while appointing or promoting the employees working in the post of Deputy Chief Executive.
