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Senior Relationship Officer – Bancassurance

Job Type

Full Time

Qualification

BA/BSc/HND , Diploma

Experience

2 - 3 years

Location

Nairobi

Job Field

Insurance

JOB PURPOSE

The Senior Relationship Officer – Bancassurance will report to the Branch Manager, and will be responsible for the acquisition and growth of sustainable Bancassurance and Bank business on Retail life, Pensions and non-life in collaboration with the cluster bank branches team by profiling the bank’s customers, establishing their insurance needs, engaging them with the relevant products, the placement of covers, in line with the overall strategy of the intermediary and the Bank.

KEY RESPONSIBILTIES

Business Growth & Development

Marketing & Brand Management

Relationship Management & Customer experience

Personal Leadership & Development

Risk & Compliance

Business Growth & Development:

Full responsibility for all product lines and all sales and business development for new business portfolio. • Achieve business growth of the overall Business portfolio (Both Risk & Investment), ensuring portfolio growth targets are consistently achieved.

To ensure the cluster and each branch achieve the set business income for all the retail life products.

Continuously train the branch staff on the subject insurance products, onboarding documentation and claims processes so as to create awareness and increase consumption of these products by the staff and their customers. • Ensure that all customers have accurately completed the required forms and that there is proper documentation. • Attend weekly and monthly, quarterly departmental meetings as scheduled.

Responsible for timely and smooth movements of documents between the clients and the insurer.

Prepare accurate and timely weekly and monthly production reports and any other reports as required by management.

Work closely with the cluster branches to get referrals, build a pipeline, and cross-sell to the existing customers. • Attend all relevant bank branch meetings to integrate well with the staff.

Ensure the agreed retail and group revenue budgets (targets) are met through the cluster branches. • Gather market intelligence on competitor information as well as market trends to identify new business opportunities, contribute towards customization of existing products and even the development of new ones.

Marketing & Brand Management

To create good relationship with cluster Branch Managers to ensure value-added support for bancassurance business in the cluster branches.

Understand and provide clear direction to the cluster branches based on market analysis of local area, consumer trends and competitor offerings.

Establish relationships with key clients or business influencers in the local area, including client entertainment within budget limits set by the business.

Enhance product awareness by communicating, delivering, and offering solutions that have value for customers, shareholders and partners.

Participating in all regional initiatives together with other business units and sectors to push for bancassurance business and other bank business

Relationship Management & Customer Experience

To mentor Bancassurance Branch champion who will spearhead Insurance Products in each branch. • Key driver for not only customer satisfaction, but building a base of promoters by enhancing positive customer experience and advocacy to drive competitive advantage, leading to faster organic growth and lower cost. • Achieve the set customer satisfaction score (CSAT), Customer Effort Score (CES), Customer Engagement Score and Net Promoter score (NPS).

Co-ordinate branch initiatives aimed at gathering feedback from customers on service standards and advise Branch and Bancassurance leadership on improvements.

Engagement with customers and supporting them in times of personal need aimed at developing a strong bond and loyalty.

Minimize customer attrition by offering the required solutions to the customer and proactively responding to queries and complaints.

Achieve the required minimum client visits and customer engagement forums weekly and monthly. • Identify financial and non-financial requirements of HNW clients by conducting financial needs analysis.

Personal Leadership & Development:

Responsible for identifying personal career path in the bank.

Keeping abreast with staff communications, attending staff meetings – morning huddles and weekly progress meetings.

Preparing an annual Personal Development Plan (PDP) and ensuring its actualization.

Adherence to the banks policies and procedures, dress code, code of conduct, HR policies and procedures and follow laid down grievance and disciplinary procedure to ensure a conducive work environment.

Closure of identified deficiencies from concluded audits, correction within stipulated timelines, and ensure no repeat findings.

Adhere to the set number of learning/training hours are achieved for self and direct reports, through E-learning and Internal training activities.

Risk & Compliance

Comply with the Bank’s AML & CFT policy as defined in CBK Prudential guidelines

Comply with risk control processes that are designed to eliminate or minimize AML-CFT risk exposure and potential losses

Embrace system-based compliance practices in high-risk activities

Ensure that the bank does not transact business with persons whose names match those on the sanctions lists in the Finance day to day business.

Immediately report any suspicious transactions or activities to the compliance function.

DECISION MAKING AUTHORITY

Customer onboarding as per policy.

Portfolio management as per policy.

Premium collection in line with the business policies.

ACADEMIC BACKGROUND

Bachelor’s degree in Insurance or Business

WORK EXPERIENCE

2-3 Years’ experience in insurance sales management in insurance/or Bancassurance, including a minimum of 1- year sales experience.

SKILLS & COMPETENCIES

Strong knowledge of compliance and regulatory requirements in bancassurance, insurance and banking sectors.

Self-driven, highly motivated and disciplined

Advanced knowledge in MS office i.e. MS Excel and MS Word and Powerpoint;

Excellent interpersonal and business communication skills

Highly presentable with excellent presentation skills

Excellent Business Acumen and good report writing skills

Good decision-making and problem – solving abilities

PROFESSIONAL CERTIFICATION

Diploma in insurance or a Certificate of Proficiency (COP) in Insurance, B Com Insurance Option or BSC Actuarial Science

• Full responsibility for all product lines and all sales and business development for new business portfolio.
• Achieve business growth of the overall Business portfolio (Both Risk & Investment), ensuring portfolio growth targets are consistently achieved.
• Ensure the cluster and each branch achieve the set business income for all the retail life products.
• Continuously train the branch staff on the subject insurance products, onboarding documentation and claims processes so as to create awareness and increase consumption of these products by the staff and their customers.
• Ensure that all customers have accurately completed the required forms and that there is proper documentation.
• Attend weekly and monthly, quarterly departmental meetings as scheduled.
• Responsible for timely and smooth movements of documents between the clients and the insurer.
• Prepare accurate and timely weekly and monthly production reports and any other reports as required by management.
• Work closely with the cluster branches to get referrals, build a pipeline, and cross-sell to the existing customers.
• Attend all relevant bank branch meetings to integrate well with the staff.
• Ensure the agreed retail and group revenue budgets (targets) are met through the cluster branches.
• Gather market intelligence on competitor information as well as market trends to identify new business opportunities, contribute towards customization of existing products and even the development of new ones.
• Create good relationship with cluster Branch Managers to ensure value-added support for bancassurance business in the cluster branches.
• Understand and provide clear direction to the cluster branches based on market analysis of local area, consumer trends and competitor offerings.
• Establish relationships with key clients or business influencers in the local area, including client entertainment within budget limits set by the business.
• Enhance product awareness by communicating, delivering, and offering solutions that have value for customers, shareholders and partners.
• Participate in all regional initiatives together with other business units and sectors to push for bancassurance business and other bank business.
• Mentor Bancassurance Branch champion who will spearhead Insurance Products in each branch.
• Drive customer satisfaction, build a base of promoters by enhancing positive customer experience and advocacy to drive competitive advantage, leading to faster organic growth and lower cost.
• Achieve the set customer satisfaction score (CSAT), Customer Effort Score (CES), Customer Engagement Score and Net Promoter score (NPS).
• Co-ordinate branch initiatives aimed at gathering feedback from customers on service standards and advise Branch and Bancassurance leadership on improvements.
• Engage with customers and support them in times of personal need aimed at developing a strong bond and loyalty.
• Minimize customer attrition by offering the required solutions to the customer and proactively responding to queries and complaints.
• Achieve the required minimum client visits and customer engagement forums weekly and monthly.
• Identify financial and non-financial requirements of HNW clients by conducting financial needs analysis.
• Responsible for identifying personal career path in the bank.
• Keep abreast with staff communications, attend staff meetings – morning huddles and weekly progress meetings.
• Prepare an annual Personal Development Plan (PDP) and ensure its actualization.
• Adhere to the banks policies and procedures, dress code, code of conduct, HR policies and procedures and follow laid down grievance and disciplinary procedure to ensure a conducive work environment.
• Closure of identified deficiencies from concluded audits, correction within stipulated timelines, and ensure no repeat findings.
• Adhere to the set number of learning/training hours are achieved for self and direct reports, through E-learning and Internal training activities.
• Comply with the Bank’s AML & CFT policy as defined in CBK Prudential guidelines.
• Comply with risk control processes that are designed to eliminate or minimize AML-CFT risk exposure and potential losses.
• Embrace system-based compliance practices in high-risk activities.
• Ensure that the bank does not transact business with persons whose names match those on the sanctions lists in the Finance day to day business.
• Immediately report any suspicious transactions or activities to the compliance function.
• Customer onboarding as per policy.
• Portfolio management as per policy.
• Premium collection in line with the business policies.

• Strong knowledge of compliance and regulatory requirements in bancassurance, insurance and banking sectors.
• Self-driven, highly motivated and disciplined
• Advanced knowledge in MS office i.e. MS Excel and MS Word and Powerpoint;
• Excellent interpersonal and business communication skills
• Highly presentable with excellent presentation skills
• Excellent Business Acumen and good report writing skills
• Good decision-making and problem – solving abilities

• Bachelor’s degree in Insurance or Business
• Diploma in insurance or a Certificate of Proficiency (COP) in Insurance, B Com Insurance Option or BSC Actuarial Science