Manager Bancassurance job at Finance Trust Bank

Manager Bancassurance job at Finance Trust Bank

Job Role
The Manager Bancassurance will be responsible for planning and lead the execution of all aspects of the Bancassurance Business, business growth, revenue assurance, management of stakeholders’ relationships (insurers, underwriters and others) in line with the business goals and objectives.

Key Result Areas:
Bancassurance Business
• Focal person to ensure compliance to internal policies and procedures in all Bancassurance services,
• Constantly guarantee that Bancassurance services operate in fulfilment of the legal, statutory and regulatory requirements (Bancassurance Regulation 2017 and any amendments) according to Insurance Regulatory Authority, Bank of Uganda and other relevant bodies,• Prepare and avail for inspection and supervision purposes by the Regulators all required records for purposes of inspection and respond to emerging issues,
• Lead the development of a Strategy for Bancassurance, advise Management on execution and monitoring of implementation progress,• To supervise the daily Bancassurance Operations which entails cross – selling of products; posting of risk details, claims administration and documentation,

Manage relationships and partnerships
• Develop and institutionalize criteria and processes, Due Diligence Tools, Key Fact Documents and other operational instruments for initiating and engaging Policy Holders,
• To create new client relationships and partnerships whilst ensuring retention of existing business relationships through high standards of customer service• Draft agreements and escalate for respective layers of approvals
• Ensure customer inquiries are resolved promptly as per laid down policies and procedures,
• Manage correspondences with insurance companies, Insurance Regulatory Authority and other relevant stakeholders

Business growth
• Drive sustainable growth of the assigned portfolio in order to achieve the set standards and targets,
• Monitor to ensure the maintenance of accurate records and reports on Bancassurance transactions,
• Champion the delivery of good customer service to ensure customer retention and royalty,
• Organize Bancassurance sales activation programs.
• Manage and monitor financial and revenue performance
• Track the collection of premiums and revenue on all insurance business transacted,
• Champion trainings on ‘Management of Bancassurance Products’ as well as oversee the “Sensitization of Customers’ on Bancassurance products.

Reporting
• Prepare and submit to the Insurance Regulatory Authority and the Bank management, the periodical (such as the monthly and annual reports on the performance of the Bancassurance Business)
• Render all necessary assistance to the Policyholders or Claimants or Beneficiaries in complying with the requirements for settlement of claims by the Insurer.
• Follow up and respond to any client complaints and enquiries or claims lodged.

Minimum educational and technical competence requirements:
• A Business degree in finance, Commerce, Business Administration, Economics, Statistics, management or any relevant field.
• An Advanced Diploma in Insurance from a recognized institution
• Relevant Practical training in Insurance
• A minimum of 4 years’ experience in Insurance
• Good critical thinking, analytical, attention to detail and problem-solving skills.
• Good verbal and written communication skills
• Ability to communicate clearly both in a professional manner is deemed essential.
• Ability to build functioning working relationships across organizational, corporate, and cultural boundaries.
• Takes clear accountability and focuses on delivery of broader corporate goals.
• Ability to take decisions and progress towards goals in conditions of uncertainty.
• Ability to demonstrate positive image and uphold

Job application procedure
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