Business Development Officer Job At Stanbic IBTC Bank

Business Development Officer
  • Full Time
  • Nigeria

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.


Job Purpose

  • 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.

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