Organisation: Stanbic
Bank
Bank
Duty Station: Kampala,
Uganda
Uganda
About US:
Stanbic Bank Uganda
Limited is a subsidiary of Stanbic Africa Holdings Limited which is in turn
owned by Standard Bank Group Limited (“the Group”), Africa’s leading banking
and financial services group. The Standard Bank Group is the leading banking
group focused on emerging markets. It is the largest African banking group
ranked by assets and earnings. Stanbic Bank Uganda Limited is the largest bank
in Uganda by assets and market capitalization. It offers a full range of
banking services through two business units; Personal and Business Banking
(PBB), and Corporate and Investment Banking (CIB).
Limited is a subsidiary of Stanbic Africa Holdings Limited which is in turn
owned by Standard Bank Group Limited (“the Group”), Africa’s leading banking
and financial services group. The Standard Bank Group is the leading banking
group focused on emerging markets. It is the largest African banking group
ranked by assets and earnings. Stanbic Bank Uganda Limited is the largest bank
in Uganda by assets and market capitalization. It offers a full range of
banking services through two business units; Personal and Business Banking
(PBB), and Corporate and Investment Banking (CIB).
Job Summary: The Manager: Bancassurance Sales – Personal
Markets will grow the profitability of the Personal Markets Insurance
portfolio. The role is accountable for the wallet and market share growth of
bancassurance in the Personal Markets segment, in addition to penetration of
new markets segments. The role is also accountable to increasing appreciation
and understanding of bancassurance by sales staff in Persona
Markets will grow the profitability of the Personal Markets Insurance
portfolio. The role is accountable for the wallet and market share growth of
bancassurance in the Personal Markets segment, in addition to penetration of
new markets segments. The role is also accountable to increasing appreciation
and understanding of bancassurance by sales staff in Persona
Key Duties and Responsibilities:
Product Management
·
Develop
tailored insurance product offerings based on customer insights gathered
through customer visits with Relationship Managers and customer forums
organised by the bank.
Develop
tailored insurance product offerings based on customer insights gathered
through customer visits with Relationship Managers and customer forums
organised by the bank.
·
To scope
and mine insurance opportunities while supporting the relationship managers who
service a portfolio of Personal Insurance
To scope
and mine insurance opportunities while supporting the relationship managers who
service a portfolio of Personal Insurance
·
Develop
the insurance Customer Value Proposition aligned to the bank’s insurance
strategy.
Develop
the insurance Customer Value Proposition aligned to the bank’s insurance
strategy.
·
Maintain
an insurance renewal schedule to ensure that no policy with in the portfolio
lapses.
Maintain
an insurance renewal schedule to ensure that no policy with in the portfolio
lapses.
·
Meet
with Personal Markets clients to position the banks insurance offering, conduct
needs analysis and obtain a mandate to quote.
Meet
with Personal Markets clients to position the banks insurance offering, conduct
needs analysis and obtain a mandate to quote.
·
Analyses
any product related queries to determine its root cause, and resolves
accordingly.
Analyses
any product related queries to determine its root cause, and resolves
accordingly.
·
Creates
awareness of the Bancassurance offering within the bank through roadshows and
training across all teams to create confidence amongst the teams to use and
sell the product.
Creates
awareness of the Bancassurance offering within the bank through roadshows and
training across all teams to create confidence amongst the teams to use and
sell the product.
·
Participates
in the annual product pricing review and influences Insurers’ pricing
decisions.
Participates
in the annual product pricing review and influences Insurers’ pricing
decisions.
·
Analyses
and interprets the change in customers’ needs and uses the insights to improve,
propose or create suitable products.
Analyses
and interprets the change in customers’ needs and uses the insights to improve,
propose or create suitable products.
·
Engage,
build and manage relationships with key internal and external stakeholders.
Examples of such internal stakeholders are: Personal Markets; Segment Heads,
Regional Managers in customer channels.
Engage,
build and manage relationships with key internal and external stakeholders.
Examples of such internal stakeholders are: Personal Markets; Segment Heads,
Regional Managers in customer channels.
Sales Strategy
·
Develop
effective acquisition and retention strategy to grow and defend the market
share.
Develop
effective acquisition and retention strategy to grow and defend the market
share.
·
Develop
activation campaigns and sales activities with sales teams on a regular basis.
Design incentive campaigned to penetrate the bank’s core bank products and
monitor effectiveness of the campaigns through MIS reporting.
Develop
activation campaigns and sales activities with sales teams on a regular basis.
Design incentive campaigned to penetrate the bank’s core bank products and
monitor effectiveness of the campaigns through MIS reporting.
·
Curb
income leakages across the portfolio
Curb
income leakages across the portfolio
·
Convert
own insurance into bancassurance to increase penetration in the Business
Banking and Personal Markets business segments.
Convert
own insurance into bancassurance to increase penetration in the Business
Banking and Personal Markets business segments.
·
Develop
elements to support lead generation and execution
Develop
elements to support lead generation and execution
·
Monitor
product performance reports from the MI team and proposes actions to improve
sales.
Monitor
product performance reports from the MI team and proposes actions to improve
sales.
·
Mine
portfolio (Personal Markets) to identify collaboration opportunities between
Personal Markets and PBB
Mine
portfolio (Personal Markets) to identify collaboration opportunities between
Personal Markets and PBB
·
Ensure
that Bancassurance sales targets are incorporated into all score cards.
Ensure
that Bancassurance sales targets are incorporated into all score cards.
·
Influence
scorecards for sales staff by driving the inclusion of Bancassurance targets in
the performance contracting sessions for all relevant teams within Personal
Markets.
Influence
scorecards for sales staff by driving the inclusion of Bancassurance targets in
the performance contracting sessions for all relevant teams within Personal
Markets.
·
Drive
volume and value growth for Bancassurance by identifying sales /cross sell
opportunities and distribute to sales segment heads.
Drive
volume and value growth for Bancassurance by identifying sales /cross sell
opportunities and distribute to sales segment heads.
·
Supports
the growth intentions of Personal Markets through the development and
implementation of new products / features / options and service / experience
enhancements – with approval from New Products Proposal Committee.
Supports
the growth intentions of Personal Markets through the development and
implementation of new products / features / options and service / experience
enhancements – with approval from New Products Proposal Committee.
Financial
Monitoring
Monitoring
·
Track
monthly product performance in the portfolio.
Track
monthly product performance in the portfolio.
·
Track
and monitor profitability (financial performance) using financial reports and
product performance reports from MI team, proposes and implements decisions on
which products to focus on or revamp.
Track
and monitor profitability (financial performance) using financial reports and
product performance reports from MI team, proposes and implements decisions on
which products to focus on or revamp.
·
Monthly
tracking of all premiums due vs premiums collected and acting to minimize lapse
rates.
Monthly
tracking of all premiums due vs premiums collected and acting to minimize lapse
rates.
·
Ensures
correct implementation of pricing for all customers, in line with regulatory
requirement.
Ensures
correct implementation of pricing for all customers, in line with regulatory
requirement.
·
Analyze
MIS reports as received from Finance and tracks performance vs. budget per
product.
Analyze
MIS reports as received from Finance and tracks performance vs. budget per
product.
·
Devise
and communicates corrective tactics to meet budget where applicable.
Devise
and communicates corrective tactics to meet budget where applicable.
·
Ensure
that growth is maintained in the growth phase of the product.
Ensure
that growth is maintained in the growth phase of the product.
·
Review
loss ratios, rates and cover on the products on a quarterly basis.
Review
loss ratios, rates and cover on the products on a quarterly basis.
·
Monitor
lapses, average premiums and penetrations to see if any trends emerge and
addresses any underlying issues that need attention.
Monitor
lapses, average premiums and penetrations to see if any trends emerge and
addresses any underlying issues that need attention.
·
Influence
Insurers to change terms, conditions and rates on products to ensure
consistency and comparative offerings.
Influence
Insurers to change terms, conditions and rates on products to ensure
consistency and comparative offerings.
Compliance
·
Ensures
full compliance to the legislative and regulatory requirements for the
Bancassurance operation and each product
Ensures
full compliance to the legislative and regulatory requirements for the
Bancassurance operation and each product
·
Provide
guidance on closure of compliance lapses through the provision of guidelines
and process
Provide
guidance on closure of compliance lapses through the provision of guidelines
and process
·
Ensure
closure of all audit and compliance findings with in the portfolio.
Ensure
closure of all audit and compliance findings with in the portfolio.
·
Ensures
that the correct documentation is being completed by the frontline sales force
through training for the sales staff on the required documentation.
Ensures
that the correct documentation is being completed by the frontline sales force
through training for the sales staff on the required documentation.
·
Provides
training for all staff within the branch on the storage guidelines for the
documentation.
Provides
training for all staff within the branch on the storage guidelines for the
documentation.
People Management
·
Determine
and develop product awareness and training plans and manuals (supply this as
input to Learning and Development). detailing the target market for the
products / solutions. Ensures that Channel, and the sales teams/RM’s are
adequately trained on the offerings to drive the take-up ratio and minimise own
insurance.
Determine
and develop product awareness and training plans and manuals (supply this as
input to Learning and Development). detailing the target market for the
products / solutions. Ensures that Channel, and the sales teams/RM’s are
adequately trained on the offerings to drive the take-up ratio and minimise own
insurance.
·
Identifies
training needs and develops training material to address specific issues.
Identifies
training needs and develops training material to address specific issues.
·
Ensures
skill assessments and competency-based training takes place as and when
required.
Ensures
skill assessments and competency-based training takes place as and when
required.
·
Develops
and maintains an open communication channel with the team and supports staff to
foster greater co-operation and teamwork
Develops
and maintains an open communication channel with the team and supports staff to
foster greater co-operation and teamwork
Systems
·
Develop
comprehensive specifications and all work requests for new product development
and enhancements in Personal Markets.
Develop
comprehensive specifications and all work requests for new product development
and enhancements in Personal Markets.
·
Develop
comprehensive specifications and all work requests for new product developments
and enhancements in the Personal Markets
Develop
comprehensive specifications and all work requests for new product developments
and enhancements in the Personal Markets
Key Performance Indicators:
·
Increased
product uptake
Increased
product uptake
·
Percentage
achievement of revenue and sales targets.
Percentage
achievement of revenue and sales targets.
·
Additional
cross sell opportunities closed.
Additional
cross sell opportunities closed.
·
Percentage
of existing business renewed.
Percentage
of existing business renewed.
·
Percentage
of own insurance converted.
Percentage
of own insurance converted.
·
Efficient
stakeholder management – limited number of queries.
Efficient
stakeholder management – limited number of queries.
·
Growth
in customer numbers in line with the annual budget.
Growth
in customer numbers in line with the annual budget.
·
Percentage
achievement of sales volumes
Percentage
achievement of sales volumes
·
Targeted
penetration into core bank products.
Targeted
penetration into core bank products.
·
Percentage
reduction of product cancellations by customers.
Percentage
reduction of product cancellations by customers.
·
Percentage
reduction of attrition in portfolio.
Percentage
reduction of attrition in portfolio.
·
Achievement
of Income and profitability targets.
Achievement
of Income and profitability targets.
·
NIR
growth in line with Personal Market annual targets.
NIR
growth in line with Personal Market annual targets.
·
Achievement
of retention and growth targets.
Achievement
of retention and growth targets.
·
Processes
and Procedures to be followed as per GRG.
Processes
and Procedures to be followed as per GRG.
·
No
incidents of non-compliance.
No
incidents of non-compliance.
·
Efficient
end-to-end processing across all channels.
Efficient
end-to-end processing across all channels.
·
Superior
Customer service delivery.
Superior
Customer service delivery.
·
Satisfactory
audits.
Satisfactory
audits.
·
Risk
managed below the agreed threshold.
Risk
managed below the agreed threshold.
·
Staff
engagement score >80%
Staff
engagement score >80%
·
Implementation
of PDPs and learning plans
Implementation
of PDPs and learning plans
·
Positive
customer experience.
Positive
customer experience.
·
Positive
turnaround time for processing.
Positive
turnaround time for processing.
·
Reduced
cost to serve.
Reduced
cost to serve.
Qualifications, Skills and Experience:
·
The
applicant for the Stanbic Bank Manager: Bancassurance Sales – Personal Markets
job must hold a Bachelor’s degree in business related field; preferably in
Finance, Accounting or Economics from a recognized university.
The
applicant for the Stanbic Bank Manager: Bancassurance Sales – Personal Markets
job must hold a Bachelor’s degree in business related field; preferably in
Finance, Accounting or Economics from a recognized university.
How to Apply:
All candidates who
wish to join the one of Africa’s biggest Banking Groups, Standard Bank in the
aforementioned capacity are encouraged to Apply Online by visiting Link below.
wish to join the one of Africa’s biggest Banking Groups, Standard Bank in the
aforementioned capacity are encouraged to Apply Online by visiting Link below.
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