Job Title: Bancassuarance Sales Support Officer
Job ID: 12192
Location: Lagos, Nigeria
Employer: Stanbic IBTC Bank Plc (part of Standard Bank Group)
Division Group: Governance & Assurance
Position Category: Assurance
Employment Type: Full Time – Permanent
Shift: No
Regulatory Approval: Yes
Position Description:
• Provide day-to-day support for the achievement of Bancassurance sales objectives in the Personal Banking segments.
• Identification of revenue opportunities from Bancassurance in Personal Banking and HNI segments
• Provides training, technical support and helpdesk functionality for the network on PB Bancassurance issues
Key responsibilities:
• Engages the Branch network to identity and articulate the Bancassurance opportunity
• Drive and monitor sales of Bancassurance
• Ensure processes are followed to properly exploit the revenue opportunity
• Engage periodically with Branch Staff and Private Banking RMs
• Provide helpdesk functionality as first point of contact for the branch network on Bancassurance issues
• Act as liaison with Insurance companies to ensure service delivery within MOUs
• Identify insurance opportunities across the country and engage branch stakeholders to capture the business and revenue streams.
• Facilitate awareness and training through L&D and insurance specialists to upskill the branch network
• Drive rollout of new PB Bancassurance products into the network
• Deliver on sales, insurance cover and revenue targets for Bancassurance as agreed with line manager.
Key dimensions of the job:
• Achievement of sales budget for Personal Bancassurance
• Ability to engage with internal and external stakeholders, at the Branch and Suite level
Important relationships:
• Maintain close contact with various internal stakeholders. (e.g. VAF, Private Banking, WPB, Relationship Management, IBC, Credit, etc) and leverage off PB deals that might have Bancassurance content.
• Maintain continuous discussion with external counterparties including insurers and brokers in order to ensure required business delivery.
Required Skills and Qualifications:
Knowledge:
• Minimum first degree in line with the Bank's policy
• Good general knowledge of retail banking and trends across the Nigerian market
• General knowledge of the Nigerian insurance market as well as the regulatory framework
• General financial/accounting knowledge including knowledge of credit and business/insurance risks
Experience:
• Minimum 2 years relevant experience in Banking, insurance or a related industry
Required Competencies:
Personal competencies:
• Strong interactive skill,
• Good negotiation skills
• Ability to identify sales opportunities and drive to close business
• Good numerical ability
• Strong verbal aptitude
• Ability to manage pressure and conflict
• Decision making ability in the face of incomplete data
• Conceptual ability and capacity to generate alternative scenarios
• Hands-on knowledge of the market and willingness to appreciate geographical nuances
Problem solving, planning and decision making:
Problem solving:
• Ability to assess utility of various products in order to deliver on the sales strategy of the business.
• Ability to identify potential problems and opportunities and pro-actively proffer solutions through the Bancassurance offering in collaboration with other underlying asset and liability products
• Ability to use initiative within limits of authority, investigate to obtain additional information or deal with ambiguity and present opportunities to more senior stakeholders as appropriate
Planning:
• Scope of planning within tactical sales plan
• Planning within the annual budgetary period in line with expected deliverables
• Ability/flexibility to negotiate re-evaluation with superiors in line with changing business needs.
Decision making:
• Ability to act on delegated authority in line with the Bank's policy
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