Business Development Officer -Bancassurance

Job Summary

• The purpose of this role is to have a dedicated resource with the appropriate skills and knowledge to support the Bancassurance strategy in Commercial Banking.
• Responsible to Business Development Manager- BB and CIB with corporate sales, general client management, renewals management, premium collection and stakeholder engagement.
• Role will involve enhancing Insurance business development through effective renewals management, ensuring all new business is written via ABIAL and insurance cross sales from CIB clients
• To implement sales plans/actions/ promotions and identify sales opportunities
• To ensure compliance objectives are adhered to.

Job Description

Key accountabilities/Deliverables/Outcomes

Business Development: 70%:

• Responsible for the achievement of the Commercial Banking revenue targets
• Support the Commercial Banking teams to ensure that insurance business is done on time, and through ABIAL
• Support the Commercial banking team and RMs to ensure that NTB insurance requirements are sourced and placed with the approved underwriters, underwriter through ABIAL
• Support and work with Trade Finance team to ensure that all Letters of Credit customers are provided with marine cover through ABIAL and the same is embedded in the process
• Joint customer visits with RMs to understand insurance needs and tailor customer led
• Attend Commercial Banking sales connect sessions to report on insurance Pipelines and uptake progress and enlist support, plus get insights on opportunities available.
• Ensure Weekly dashboard, monthly and quarterly performance tracking is shared with all stakeholders
• Have Sales activations and customer sensitization(quarterly) in partnership with partners to increase uptake and leverage on Bank customers activities to position the same
• Servicing Commercial Banking customers and ensuring the TATs with customers are adhered to
• Monitoring and evaluation business strategies set
• Obtain Approval of all sales related expenses
• Dashboard management with relevant MI teams to confirm accuracy of management reports on sales activities
• Quarterly business review meetings with Insurance partners to discuss business activities
• Identifying cross and up sale opportunities and track performance
• Work with the Business Development manager -BB and CIB to ensure delivery strategies are properly documented and monitored.
• Responsible for call reports on customer visits.
• Ensure all documentation is correctly completed, collected and submitted as per procedure manuals and SLA’s
• Work with partners to ensure Commercial Banking customers receive bespoke solutions and service

Rigor/compliance: 5%:

• Ensure all regulatory requirements are met by ensuring compliance to the insurance act and SLA’s
• Ensures review and escalation if required of Sales administrative issues.
• Responsible for compliance with business procedure manuals
• Ensuring all claims are reported, tracked and resolved as per SLA by COE
• Ensure compliance with Snap checks process and internal audit

People management: 15%:

• Managing relationships with Commercial Banking colleagues to drive business
• Dealing with outlets and operations center to ensure full understanding of the insurance process & procedures
• Motivation of relationship managers through agreed programs
• Ensure the team is achieving the desired

Premium Collection and policy administration. 10%:

• Ensure all premiums are collected from all sales as per laid down procedures in accordance with the insurance Act and SLAs with partner insurers
• Provide management reports on premium collection status of all sales done on a weekly basis
• Manage all aspects of premium refunds raised by sales teams
• Ensure all premium is receipted as received with partner insurer in liaison with Head office- Bancassurance teams

Role/person specification

Qualification

• A Business-related Degree from a recognized university.
• COP qualification, Diploma in Insurance, LOMA or progress in ACII qualification

Preferred Experience

• Insurance Broker/ Sales experience in dealing with corporate insurances and relationships

Knowledge and Skills

• Exposure to Corporate business and strong relationship management skills
• Knowledge of insurance business (claims management & underwriting), products and processes.
• Presentation skills and expertise in proposals presentation experience
• Exposure to governance, control and risk management
• Proven ability to effectively work across teams

Behavioral Competencies

• Passionate Drive for results
• Service Excellence
• Planning and Organizing
• Accuracy and attention to detail
• Problem Solving skills
• Time Management
• Communication skills

Technical Competencies

• Good understanding of insurance processes
• Excellent business development skills and insurance product knowledge
• A learning mind-set to rapidly assimilate complex business issues and quickly solve problems in a structured manner or pre-empting issues that may arise where there is limited precedence
• Effective negotiating skills to secure both internal and external support and deal with external service providers
• Able to adopt and/or coach the use of a variety of methods to keep work streams on schedule and within budget
• Quality, high standards and control
• Important relationships will include Head of ABIAL, Business Development Manager, ABIAL team, customer channels teams, enabling functions, insurance companies and other business partners that include external intermediaries

Education

Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)