Background

Responsible for the growth of bancassurance business through driving the productivity of the bancassurance officers to achieve set business targets while ensuring bancassurance business regulatory compliance at all times.

Key Responsibilities

• Drive the growth of bancassurance business to achieve set business sales targets . Develop bancassurance business plans that are aligned to both Life and non-life insurance business plan and drive growth and profitability of the bancassurance business.
• Develop and implement sales strategies and insurance sales activation programs across the multiple channels and the retail banking network of the bank.
• Oversee the Regulatory compliance of the bancassurance business to the internal and external insurance and financial industry regulatory frameworks .
• Responsible for Performance monitoring and management of the Bancassurance officers for both life and non-life insurance businesses to ensure maximum productivity and achievement of business targets for the BSOs.
• Oversee Bancassurance functions not limited to relationship management, establishing new banking relationships.
• Create new client relationships and partnerships and nurture existing business relationships to generate revenue.
• Execute day to day Insurance operations entailing selling and cross-selling of insurance products, updating risk details and claims administration.
• Contribution to the achievement of the overall insurance sales budget (full year) through effective training programs.

Key performance measures

• Total Gross Premiums booked.
• Number of new customers onboarded /New Accounts opened
• Nill Compliance penalties and failures.
• 100% Adherence to Internal and External Regulatory frameworks.
• Customer retention.
• Productivity of Bancassurance Officers as per set Performance Targets.

Personal competencies

• A structured approach to dealing with complex and variable work environments in an independent manner.
• Ability to balance opposing business requirements.
• Ability to balance long-term and short-term requirements independently.
• Strong evaluation, communication and reporting skills
• Independent and logical thinker, yet an achiever and implementer
• Leads by example
• Good at managing large volumes of information and can add value through management reporting
• Build relationships and networks easily
• Customer focus

Knowledge, experience and Qualities

Knowledge & experience

• A bachelor’s degree in a relevant field; preferably in finance and accounting or Diploma in insurance from the Chartered Insurance Institute of the United Kingdom or a similar institute.
• Certification of proficiency or CIU issued by Uganda Insurance Institute.
• At least four years’ experience in insurance in areas of underwriting, claims, finance or regulations. and other insurance matters.
• Extensive knowledge of financial services industry, specifically insurance and retail banking.
• Good presentation and strong verbal and written communication skills.
• Computer literate in Microsoft Office Applications.

Expected qualities

• Integrity
• Honesty
• Stewardship
• Team player
• Good personal grooming

• Drive the growth of bancassurance business to achieve set business sales targets.
• Develop bancassurance business plans that are aligned to both Life and non-life insurance business plan and drive growth and profitability of the bancassurance business.
• Develop and implement sales strategies and insurance sales activation programs across the multiple channels and the retail banking network of the bank.
• Oversee the Regulatory compliance of the bancassurance business to the internal and external insurance and financial industry regulatory frameworks.
• Responsible for Performance monitoring and management of the Bancassurance officers for both life and non-life insurance businesses to ensure maximum productivity and achievement of business targets for the BSOs.
• Oversee Bancassurance functions not limited to relationship management, establishing new banking relationships.
• Create new client relationships and partnerships and nurture existing business relationships to generate revenue.
• Execute day to day Insurance operations entailing selling and cross-selling of insurance products, updating risk details and claims administration.
• Contribution to the achievement of the overall insurance sales budget (full year) through effective training programs.

• Strong evaluation skills
• Strong communication skills
• Strong reporting skills
• Independent and logical thinking
• Achiever and implementer
• Ability to lead by example
• Ability to manage large volumes of information
• Ability to build relationships and networks easily
• Customer focus
• Good presentation skills
• Strong verbal communication skills
• Strong written communication skills
• Computer literate in Microsoft Office Applications

• A bachelor’s degree in a relevant field; preferably in finance and accounting or Diploma in insurance from the Chartered Insurance Institute of the United Kingdom or a similar institute.
• Certification of proficiency or CIU issued by Uganda Insurance Institute.
• At least four years’ experience in insurance in areas of underwriting, claims, finance or regulations. and other insurance matters.
• Extensive knowledge of financial services industry, specifically insurance and retail banking.