Insurance Premium Finance (Ipf) Officer job at I&M Bank Limited

Vacancy title:
Insurance Premium Finance (Ipf) Officer

[ Type: FULL TIME , Industry: Banking , Category: Accounting & Finance ]

Jobs at:

I&M Bank Limited

Deadline of this Job:
07 October 2022  

Duty Station:
Within Kenya , Nairobi , East Africa

Date Posted: Monday, October 03, 2022 , Base Salary: Not Disclosed

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Insurance Premium Finance (Ipf) Officer
Asset Finance · Nairobi, Nairobi
Job Summary:
The role holder will be responsible for facilitating IPF business growth through quick business conversion and turnaround time by guiding documentation process within acceptable timelines while ensuring that the bank’s exposure is adequately covered and facilitating maintenance of a quality IPF Loan book by ensuring perfection of documentation and compliance of the terms of the IPF Agreement.
The role holder will also be responsible for direct marketing to existing bank’s clients in liaison with respective branch/corporate RM. Pursuing new business under IPF and employing required effort and tact to target bigger share of wallet with the intention of gradually taking over viable bank relationships as well as nurturing strong business relationships with key customers, underwriters and other Insurance intermediaries in order to grow number of business referrals and repeat business volumes.

Primary Responsibilities:
• Accurate review and processing of IPF Loan applications in line with the set product lending parameters.
• Business development by directly marketing to existing bank clients with a view to increasing share of wallet.
• Communication and formation of effective linkages with customers, underwriters and other insurance intermediaries with a view to targeting sustained business growth.
• Conducting preliminary evaluation on potential customers under IPF to ensure repayment ability is demonstrated prior to disbursement.
• Ensuring efficient and timely service delivery by coordinating with Credit Operations team to ensure that approved loans are disbursed within acceptable TAT and underwriters paid accordingly.
• Handling IPF queries from existing and new Bank customers through phone calls, email or letters particularly regarding, IPF product features, pricing, documentation and other requirements.
• Ensuring customers are advised on repayment requirements such as expected installments amounts and due dates upon IPF loan disbursement.
• Liaising with Debt Control team to ensure drafting and dispatching of default notices to customers within seven (7) days for all IPF accounts in arrears. This should be routed through respective branch or corporate relationship managers to safeguard customer relationships.
• Cross selling other bank’s products where opportunities for such sale are identified and effective coordination with respective product custodians to ensure conclusion.

Occasional Duties

• Organizing and training of various stakeholders e.g. branches and other intermediaries to ensure they source quality business as per set out standards.
• Helping and coordinating in debt management process for IPF transactions.
• Ensuring key Insurance Companies and brokers have adequate access to the bank’s IPF application and other critical documentation.
• Occasional visits to Key Insurance Companies and brokers/agents to source new business.
• Act as coordinator for gathering market intelligence as pertains to IPF portfolio performance in the industry alongside establishment of innovative ways to counter the stiff competition Person Specifications
Academic Qualifications
• Bachelor’s degree in a Business related field.

• At least 2 years’ relevant experience in business related role.

Personal Attributes

• Business minded.
• Articulate.
• Tactful.
• Organized.
• Quality conscious
• Attentive to detail
• Ability to effectively manage customer relationships.
• Ability to work under pressure.

Knowledge and skills
• Good knowledge of the Insurance Act and other developments in banking and insurance fields in general.
• A good knowledge of requisite documentation under IPF transactions.
• A good knowledge of CBK’s prudential guidelines as pertains to lending.
• People skills.
• Other relevant marketing training

Work Hours: 8

Experience in Months: 24

Level of Education:
Bachelor Degree

Job application procedure
If you believe you meet the above requirements log onto our  and click on careers and apply for the position. Your application should reach us as soon as possible but not later than 7th September 2022.

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Job Info
Job Category: Accounting/ Finance jobs in Kenya
Job Type: Full-time
Deadline of this Job: 07 October 2022
Duty Station: Nairobi
Posted: 03-10-2022
No of Jobs: 1
Start Publishing: 03-10-2022
Stop Publishing (Put date of 2030): 03-10-2056
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