Principal Officer - Bancassurance
2025-05-07T08:40:09+00:00
Bank of Africa
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https://boauganda.com/
FULL_TIME
Kampala
Kampala
00256
Uganda
Banking
Management
2025-05-09T17:00:00+00:00
Uganda
8
Job description
Position function
Responsible for establishing and driving Bancassurance as a business line in Bank. Spearheading the growth of Bancassurance business across the Bank channels through supporting delivery channels, develop operating standards and grow revenues for this line of business and positioning as a major provider of insurance products and related services within the Ugandan Market.
Key responsibilities
- Drive growth in Bancassurance business across and outside the bank channels.
- Prospect and market various insurance products to prospective clients and advice customers on the adequacy of cover requested for in relation to the policies available.
- Oversee the operational aspects of Bancassurance business at the branch i.e. underwriting, claims, finance and customer service as well as preparation quotations, negotiating terms for customers and closing sales.
- Ensure all collaterals and assets that have the Bank interest are properly and comprehensively insured and the Bank’s interest properly noted.
- Ensure that the Bank, customers and staff insurable assets insured under the branch are renewed on time and that the premium is paid up.
- Carry out market research and provide customer feedback to the Bancassurance team for the development of new products and enhancement of existing ones to suite the various market segments.
- Ensure that all queries on technical insurance issues from customers and branch staff are addressed promptly while providing technical guidance.
- Ensure seamless and consistent customer experience levels aligned to the Bank’s objectives
- Ensure compliance with all regulatory, internal procedures and reporting in regard to Bancassurance business.
Additional Responsibilities
The Bank reserves the right to amend, modify, or adjust the responsibilities of this position as business needs evolve, in alignment with applicable labour laws. The Employee may also be required to undertake additional duties or projects from time to time, within their capabilities and consistent with the responsibilities of the role, as directed by the Employer.
Key Performance Indicators
- Growth of Gross commission income from to 358Mn to 400Mn
- Growth of Gross premiums collected from 3Bn to 3.6Bn
- Customer service index (90%)
- Audit/Risk/Compliance/Permanent Control issue resolution rate of your department.
- % of Audit/Risk/Compliance/Permanent Control issues outstanding for > 3 months
- Compliance with Policies, Regulations and Guidelines (IRA)
- Completeness, and TAT on reports
- Training on Bancassurance for all staff
Required Qualifications and Skills
- Education: University Degree preferably in a business field with at least three years working experience in banking/bancassurance/insurance industry. Professional qualification in insurance or equivalent shall be an added advantage
- Experience: 2 Years insurance marketing and/or underwriting experience. Exposure to Insurance products in the bank set-up with knowledge of the Bank’s set standards, policies and the operating manual.
- Technical Skills: Excellent communicator with ability to work effectively in a diversified set up and in a highly collaborative team environment, Proven ability to respond quickly, independently and appropriately to competing priorities under tight deadlines, Personal organization and thoroughness coupled with the ability to work under minimum supervision with good Judgment and decision making skills, Knowledgeable in compiling data and preparing a variety of reports as well as ability to verify the accuracy of document.
Additional Requirements/Competencies
- High ethical standards and a commitment to the values of the Bank.
- Ability to pay attention to details.
- Good communication and inter personal skills.
- Logical thinker – has a clear, focused and methodical approach to tasks given under required frequency e.g. daily, Weekly, monthly and yearly.
- Results-orientated, driven to realise business service objectives and able to execute at speed.
- Self-motivated, energetic, innovative and open to new ideas.
- Team player – approachable, receptive to ideas/feedback from others.
- Assertive – able to handle and mediate in conflict, stand by principles and put forward ideas despite opposition.
- Tough-minded, rarely upset by criticism, able to retain optimism despite setbacks.
- Highly numerate/ Data rational: Is good with numerical data, operates on facts, and enjoys assessing and measuring.
- Analytical: Identifies &analyses patterns and trends, sees the relationship between cause and effect, has an inquiring mind
- Ability to build substantive relationships and connections in professional settings.
- Operating knowledge of Capital Markets instruments.
- Customer Centric.
- Computer literate and familiarity with standard office computer applications
- Has the initiative to investigate and obtain additional information to deal with ambiguity
- Understands custody Settlement rules / standards and effectively applies in daily settlement.
- Consider all the facts, options and possible outcomes prior to making recommendations
- Ability to handle conflict situations
Drive growth in Bancassurance business across and outside the bank channels. Prospect and market various insurance products to prospective clients and advice customers on the adequacy of cover requested for in relation to the policies available. Oversee the operational aspects of Bancassurance business at the branch i.e. underwriting, claims, finance and customer service as well as preparation quotations, negotiating terms for customers and closing sales. Ensure all collaterals and assets that have the Bank interest are properly and comprehensively insured and the Bank’s interest properly noted. Ensure that the Bank, customers and staff insurable assets insured under the branch are renewed on time and that the premium is paid up. Carry out market research and provide customer feedback to the Bancassurance team for the development of new products and enhancement of existing ones to suite the various market segments. Ensure that all queries on technical insurance issues from customers and branch staff are addressed promptly while providing technical guidance. Ensure seamless and consistent customer experience levels aligned to the Bank’s objectives Ensure compliance with all regulatory, internal procedures and reporting in regard to Bancassurance business.
Education: University Degree preferably in a business field with at least three years working experience in banking/bancassurance/insurance industry. Professional qualification in insurance or equivalent shall be an added advantage Experience: 2 Years insurance marketing and/or underwriting experience. Exposure to Insurance products in the bank set-up with knowledge of the Bank’s set standards, policies and the operating manual. Technical Skills: Excellent communicator with ability to work effectively in a diversified set up and in a highly collaborative team environment, Proven ability to respond quickly, independently and appropriately to competing priorities under tight deadlines, Personal organization and thoroughness coupled with the ability to work under minimum supervision with good Judgment and decision making skills, Knowledgeable in compiling data and preparing a variety of reports as well as ability to verify the accuracy of document.
Education: BachEducation: University Degree preferably in a business field with at least three years working experience in banking/bancassurance/insurance industry. Professional qualification in insurance or equivalent shall be an added advantage Experience: 2 Years insurance marketing and/or underwriting experience. Exposure to Insurance products in the bank set-up with knowledge of the Bank’s set standards, policies and the operating manual. Technical Skills: Excellent communicator with ability to work effectively in a diversified set up and in a highly collaborative team environment, Proven ability to respond quickly, independently and appropriately to competing priorities under tight deadlines, Personal organization and thoroughness coupled with the ability to work under minimum supervision with good Judgment and decision making skills, Knowledgeable in compiling data and preparing a variety of reports as well as ability to verify the accuracy of document.elor’s Degree in Risk Management, Finance, Economics, or related field; Master’s degree (e.g., MBA or MSc in Risk Management) and professional certifications in risk management or financial analysis (such as FRM, PRM, CFA, CISA) will provide added advantage. Experience: 10+ years in banking or financial services, with at least 5 years in a senior risk management or governance role. Technical Skills: Demonstrated understanding of the Basel Framework (Pillar 1, 2, and 3), risk modelling and quantification techniques (e.g., PD, LGD, VaR, ES), stress testing, capital planning, and ICAAP/ILAAP processes. Analytical Skills: Expertise in enterprise risk assessment, policy development, internal control evaluation, regulatory compliance, and alignment with BOU and international banking standards. Leadership Abilities: Proven track record in leading cross-functional teams, influencing organizational change, implementing enterprise-wide risk culture, and communicating effectively with executive and board-level stakeholders.
JOB-681b1c6970b04
Vacancy title:
Principal Officer - Bancassurance
[Type: FULL_TIME, Industry: Banking, Category: Management]
Jobs at:
Bank of Africa
Deadline of this Job:
Friday, May 9 2025
Duty Station:
Kampala | Kampala | Uganda
Summary
Date Posted: Wednesday, May 7 2025, Base Salary: Not Disclosed
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JOB DETAILS:
Job description
Position function
Responsible for establishing and driving Bancassurance as a business line in Bank. Spearheading the growth of Bancassurance business across the Bank channels through supporting delivery channels, develop operating standards and grow revenues for this line of business and positioning as a major provider of insurance products and related services within the Ugandan Market.
Key responsibilities
- Drive growth in Bancassurance business across and outside the bank channels.
- Prospect and market various insurance products to prospective clients and advice customers on the adequacy of cover requested for in relation to the policies available.
- Oversee the operational aspects of Bancassurance business at the branch i.e. underwriting, claims, finance and customer service as well as preparation quotations, negotiating terms for customers and closing sales.
- Ensure all collaterals and assets that have the Bank interest are properly and comprehensively insured and the Bank’s interest properly noted.
- Ensure that the Bank, customers and staff insurable assets insured under the branch are renewed on time and that the premium is paid up.
- Carry out market research and provide customer feedback to the Bancassurance team for the development of new products and enhancement of existing ones to suite the various market segments.
- Ensure that all queries on technical insurance issues from customers and branch staff are addressed promptly while providing technical guidance.
- Ensure seamless and consistent customer experience levels aligned to the Bank’s objectives
- Ensure compliance with all regulatory, internal procedures and reporting in regard to Bancassurance business.
Additional Responsibilities
The Bank reserves the right to amend, modify, or adjust the responsibilities of this position as business needs evolve, in alignment with applicable labour laws. The Employee may also be required to undertake additional duties or projects from time to time, within their capabilities and consistent with the responsibilities of the role, as directed by the Employer.
Key Performance Indicators
- Growth of Gross commission income from to 358Mn to 400Mn
- Growth of Gross premiums collected from 3Bn to 3.6Bn
- Customer service index (90%)
- Audit/Risk/Compliance/Permanent Control issue resolution rate of your department.
- % of Audit/Risk/Compliance/Permanent Control issues outstanding for > 3 months
- Compliance with Policies, Regulations and Guidelines (IRA)
- Completeness, and TAT on reports
- Training on Bancassurance for all staff
Required Qualifications and Skills
- Education: University Degree preferably in a business field with at least three years working experience in banking/bancassurance/insurance industry. Professional qualification in insurance or equivalent shall be an added advantage
- Experience: 2 Years insurance marketing and/or underwriting experience. Exposure to Insurance products in the bank set-up with knowledge of the Bank’s set standards, policies and the operating manual.
- Technical Skills: Excellent communicator with ability to work effectively in a diversified set up and in a highly collaborative team environment, Proven ability to respond quickly, independently and appropriately to competing priorities under tight deadlines, Personal organization and thoroughness coupled with the ability to work under minimum supervision with good Judgment and decision making skills, Knowledgeable in compiling data and preparing a variety of reports as well as ability to verify the accuracy of document.
Additional Requirements/Competencies
- High ethical standards and a commitment to the values of the Bank.
- Ability to pay attention to details.
- Good communication and inter personal skills.
- Logical thinker – has a clear, focused and methodical approach to tasks given under required frequency e.g. daily, Weekly, monthly and yearly.
- Results-orientated, driven to realise business service objectives and able to execute at speed.
- Self-motivated, energetic, innovative and open to new ideas.
- Team player – approachable, receptive to ideas/feedback from others.
- Assertive – able to handle and mediate in conflict, stand by principles and put forward ideas despite opposition.
- Tough-minded, rarely upset by criticism, able to retain optimism despite setbacks.
- Highly numerate/ Data rational: Is good with numerical data, operates on facts, and enjoys assessing and measuring.
- Analytical: Identifies &analyses patterns and trends, sees the relationship between cause and effect, has an inquiring mind
- Ability to build substantive relationships and connections in professional settings.
- Operating knowledge of Capital Markets instruments.
- Customer Centric.
- Computer literate and familiarity with standard office computer applications
- Has the initiative to investigate and obtain additional information to deal with ambiguity
- Understands custody Settlement rules / standards and effectively applies in daily settlement.
- Consider all the facts, options and possible outcomes prior to making recommendations
- Ability to handle conflict situations
Work Hours: 8
Experience in Months: 24
Level of Education: bachelor degree
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