Stanbic IBTC Bank
Business Development Officer Job Vacancy At Stanbic IBTC Bank
A Business Development Officer job vacancy is currently available at Stanbic IBTC Bank. Applications are hereby invited from suitably qualified individuals who possess all the below-listed criteria.
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- To grow and develop insurance income for SIIBL and deliver profitable revenue streams from within and outside of the Stanbic IBTC Group.
- Ensure effective cross-selling of insurance products and services across all major product lines.
- Execution of the regional sales strategy to achieve all revenue goals and targets through engagement with both external and internal stakeholders.
- Expansion of the Stanbic IBTC Group business through identification of revenue opportunities and harnessing of these revenue streams.
- Effective management and supervision of regional sales agents network.
Business Development Officer Key Responsibilities / Accountabilities
Financial Outcome: Achieve monthly sales target of Insurance brokerage commission:
- Achieve assigned monthly Insurance brokerage commission target
- Achieve assigned monthly/yearly insurance policy target
- Achieve assigned new customer acquisition for both personal and business lines
- Identify, initiate and convert leads for SIIBL
- Grow SIIBL wallet share of customer’s insurance portfolio by harnessing and upselling insurance products.
- Provide advice to corporate clients on managing and transferring risk using insurance solutions
- Ensure timely engagement and follow up of customer’s insurance renewal of all Insurance portfolios or arrangements.
- Maximize the insurance revenue opportunities in conjunction with the various business segments in Wealth and the Bank
- Ensure penetration into Customers own insurance arrangements by harvesting the Banks client base in CIB, PBB and Wealth thereby reducing leakage of potential revenue.
- Operate within the NAICOM guidelines and framework to avoid sanctions or infractions to the Company.
- Make physical / telephone calls / e-mails to clients for customer interactions
- Organize and facilitate Interactive sessions
- Effectively communicate and follow-through, with client requests to Underwriting, claims and support units
- Ensure prompt provision of KYC documents to avoid delays in providing insurance cover to clients and refund of premiums received.
- Consistently identify the value to our customers by leveraging the various resources within the group
- Grow SIIBL’s share of mind among clients/ organizations in assigned institutions
- Proffer possible strategies/ways to improve sales and relate to customers.
- Identify key insurance opportunities outside of the borrowing customers of Stanbic IBTC Bank and appropriately position SIIBL to capture the business and revenue streams
- Grow the SIIBL business within the region through regular engagement with prospective clients within and outside of the Group.
- Views day-to-day decisions, relationships and operations in terms of the bigger picture, keeping the overall/long term strategic objectives of SIIBL and the Group in general in mind
- Have a good understanding of both traditional and non-traditional competitors, their drivers, products, strengths, vulnerabilities, market share/client base and the impact that these factors have on the Bank’s value proposition to the client base
- Support insurance sales in the network through awareness, training and a “helpdesk” function for relationship officers and sales consultants in the various business segments
- Embark on key joint calls with other business units within the region where required
- On-board, train and supervise sales agents to deliver on monthly premium targets.
Client Focus: Customer Service Quality and Efficiency:
- Ensure adherence to set turnaround times for customer relationship management processes.
- Ensure accurate recording of both insurance direct sale and cross-sell revenue and sales per product or service.
- Ensure all policies and products are competitive and remain competitive by conducting ongoing market and competitive analysis.
- Ensure all insurance policies provide cover that is relevant and in line with good local market standards.
- Provide excellent service to existing policyholders and ensure clients are notified before insurance policies expire
Risk and Conduct: Ensure Compliance in line with Stanbic IBTC Group standards:
- All customers boarded must meet minimum KYC in line with the AML CFT policy and company PEP guidelines.
- All information shared with the customer and instructions received from customers must be captured via Call Memos or Call logs. Meeting notes must be shared with customers and filed accordingly
- Adherence to the SIIBL Business Development Department Manual and all employee group policies.
- Completion of all People fluent training and agreed personal development plan
- Adherence to the scheduled Leave Plan
- Maintain Zero tolerance for regulatory breaches
- Minimize reputational risk exposure.
- Maintain zero tolerance for repeat GIA or internal control findings.
- Prompt reconciliation of income/premium and avoidance of all internal breaches
- Minimize Ops losses and ensure it does not exceed the 0.5% benchmark.
- Operate within the NAICOM guidelines and framework to avoid sanctions or infractions to the Company
- Educate and enlighten clients employers about the dynamics of the Insurance industry
- Continuously monitor market trends in the insurance industry, including the regulatory and legal framework, to assess the possible impact on the insurance brokerage
- Ensure adherence to code of ethics and all other related guidelines
- Ensure smooth internal & external stakeholder management
- First Degree
- 5-7 Years Client Relationship Management
- 5-7 Years Insurance Sales Manager.
How to Apply for Business Development Officer Job
- Hit the ‘APPLY FOR JOB’ button below.
- Follow the displayed link to proceed to the Stanbic IBTC Bank recruitment portal.
- Hit the ‘APPLY’ button.
- Sign up for an account in the portal.
- Log into your dashboard and complete the online application form accurately.
- Submit your application and await notification if shortlisted.
- The application deadline was not specified.
To apply for this job please visit careers.peopleclick.eu.com.