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Head of Bancassurance

Salary rangeConfidential | Contract type: Permanent

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Job Summary

Our Ideal Candidate
  • Excellent knowledge of insurance products & processes
  • Regulatory qualification requirements
  • Degree holder in any discipline
  • Ability to manage P&L, business performance & revenues.
  • Good interpersonal & management skills.
  • Good understanding of customer segmentation & needs as well as an in-depth knowledge of distribution channel strategies in a bank or similar organisation.
  • Minimum 3 years of related insurance experience

Responsibilities

Strategy and Planning:

1.Ensure appropriate Bancassurance Structure is in place to drive Bancassurance business in the country
2. Develop and execute an overall Business Plan covering all insurance activities across all the business based on business targets in alignment with insurance Partners and global strategy.
3.Have a thorough understanding of business dynamics across the business to leverage on multiple product/service needs of Banks customers to better position insurance as a key part of a truly valuable customer proposition/offer

Financial and Performance Management:

1.Active management of overall Insurance P&L in the cluster through establishing close working relationships across business and Product/Marketing manager to deliver customer, business, revenue and profit targets for the country by driving insurance products activities across channels and segments
2.Active management of relationships with all insurance partners to ensure smooth running of the distribution channels in delivering targets for the country.
3.Monthly reporting of Bancassurance financials including, but not limited to, commission reconciliation, financial projections, P&L monitoring, marketing allowance activities, etc

Product Development/Operational Workflow:

1.Active involvement in identifying product needs for all customer bases across business with product managers and segment managers together with appropriate. 2.Insurance Partners to meet customer needs and product gaps in total product/service offering.
3.Monitoring operational activities to ensure that they are complaint with
4.Local regulations, policies and procedures
5.SCB Country level and Group policies and procedures

Marketing and Brand Management:

1.Work with product managers to identify market growth/ cross-sell opportunities to increase product holdings and improved revenues
2.Initiate, execute and manage marketing programmes and retention strategies in line with business objectives (premiums, commissions, product type, number of policies)
3.Ensure brand compliance for all above and below-the-line communication according to local/ global standards for SCB and relevant Insurance Partner.

Compliance & Control
  • Ensure a robust risk management and compliance model for the insurance business across client segments according to local regulations and internal policies
  • Ensure active monitoring and maintenance of risk management policies and controls / standards
  • Ensure all insurance-related staff and activites are compliant with local and Group policies / standards / controls
  • Responsible for any necessary reporting as required by local country insurance authorities and regulators. Group Insurance must be informed of all external communications to regulators.
  • Ensure that the country is compliant with local insurance regulations and guidelines

Job Requirements

Required education: Bachelor's degree
Required relevant work experience: 3 years
Required languages: English (Spoken: fluent | Written: fluent)
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