Bancassuarance Sales Support Officer Job at Stanbic IBTC Bank Plc

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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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