- Company: Absa Bank
- Location: Kenya
- State: Kenya
- Job type: Full-Time
- Job category: Banking Jobs in Kenya
With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
The purpose for this role is to have a dedicated resource with the appropriate skills and knowledge to support the Bancassurance strategy in Commercial Banking.
Responsible to Business Development Manager- Business Banking and CIB with corporate sales, general client management, renewals management, premium collection, and stakeholder engagement. Role will involve enhancing Insurance business development through effective renewals management, ensuring all new business is written via Absa Bancassurance Intermediary Limited (ABIL)and insurance cross sales from CIB clients. To implement sales plans/actions/ promotions and identify sales opportunities. To ensure compliance objectives are adhered to
Business Development – 70%
- Responsible for the achievement of the Commercial Banking revenue targets
- Support the Commercial Banking teams to ensure that insurance business is done on time, and through the Absa Bancassurance Intermediary Limited.
- Support the Commercial banking team and Relationship Managers to ensure that New to Bank insurance requirements are sourced and placed with the approved underwriters, underwriter through the Absa Bancassurance Intermediary Support and work with Trade Finance team to ensure that all Letters of Credit customers are provided with marine cover through ABIL and the same is embedded in the process
- Joint customer visits with RMs to understand insurance needs and tailor customer led
- Attend Commercial Banking sales connect sessions to report on insurance Pipelines and uptake progress and enlist support, plus get insights on opportunities available.
- Ensure Weekly dashboard, monthly and quarterly performance tracking is shared with all stakeholders
- Have Sales activations and customer sensitization(quarterly) in partnership with partners to increase uptake and leverage on Bank customers activities to position the same
- Servicing Commercial Banking customers and ensuring the timelines with customers are adhered to
- Monitoring and evaluation business strategies set
- Obtain Approval of all sales related expenses
- Dashboard management with relevant Management Information teams to confirm accuracy of management reports on sales activities
- Quarterly business review meetings with Insurance partners to discuss business activities
- Identifying cross and up sale opportunities and track performance
- Work with the Business Development manager -Business Banking and CIB to ensure strategy deliverables are properly documented and monitored.
- Responsible for call reports on customer visits.
- Ensure all documentation is correctly completed, collected, and submitted as per procedure manuals and Service Level Agreements (SLA’s)
- Work with partners to ensure Commercial Banking customers receive bespoke solutions and service
Rigor/Compliance – 5%
- Ensure all regulatory requirements are met by ensuring compliance to the insurance act and SLA’s
- Ensures review and escalation if required, of Sales administrative issues.
- Responsible for compliance with business procedure manuals
- Ensuring all claims are reported, tracked, and resolved as per Service Level Agreements (SLA’s by operations team
- Ensure compliance with Snap checks process and internal audit
People Management – 15%
- Managing relationships with Commercial Banking colleagues to drive business
- Dealing with outlets, operations centre to ensure full understanding of the insurance process & procedures
- Motivation of relationship managers through agreed programmes
- Ensure the team is achieving the desired
Premium Collection and Policy Administration – 10%
- Ensure all premium is collected from all sales as per laid down procedures in accordance with the insurance Act and Service Level Agreements (SLA’s s with partner insurers
- Provide management reports on premium collection status of all sales done on a weekly basis
- Manage all aspects of premium refunds raised by sales teams
- Ensure all premium is receipted as received with partner insurer in liaison with Head office- Bancassurance teams
- Excellent business development skills and insurance product knowledge
- A learning mind-set to rapidly assimilate complex business issues and quickly solve problems in a structured manner or pre-empting issues that may arise where there is limited precedence
- Effective negotiating skills to secure both internal and external support and deal with external service providers
- Able to adopt and/or coach the use of a variety of methods to keep work streams on schedule and within budget
- Quality, high standards and controls
- Passionate Drive for results
- Service Excellence
- Planning and Organising
- Good understanding of insurance processes
- Accuracy and attention to detail
- Problem Solving skill
- Time Management
- Communication skill
- Important relationships will include Head of ABIL, Business development Manager, ABIL team, customer channels teams, enabling functions, insurance companies and other business partners that include external intermediaries
Knowledge, Expertise and Experience & Qualifications
- A Business-related Degree from a recognized university.
- COP qualification, Diploma in Insurance, LOMA, or progress in ACII qualification
- Exposure to Corporate business and strong relationship management skills
- Knowledge of insurance business (claims management & underwriting), products and processes.
- Presentation skills and expertise in proposals presentation experience
- Exposure to governance, control, and risk management
- Proven ability to effectively work across teams
- Insurance Broker/ Sales experience in dealing with Corporate insurances and relationships
Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)