I am in my mid-40's, director level in a good large-size Financial Services company. My interest in a MBA is primarily to gain knowledge and supplement my educational background. I have good career opportunities but still would like to gain some competitive advantage out of the MBA diploma.

An online delivery method is preferred for me and duration is preferably an year.

I found the program from the subject above and was wondering has anyone heard of it and can anyone share any insights? After all I do not want to waste my time and money on education that would not be useful in the long run.

No, I don't think there's any way that could be called an average or above-average program. Focus on degrees with accreditation by AMBA, EQUIS or AASCB (or, even, by all three like the UK's Open University). 

Also see 

https://findmbaonline.com/board/distance-learning/value-alternatives-to-unaccredited-mbas-58288