Bancassurance Officer job at Ecobank

Job Description
Outputs and measures
Administration, Reporting and customer service
• Compiling statutory records and reports which comply with the requirements of the Anti Money Laundering Act, The Banking Act, The Insurance Act, and other relevant legislation as amended from time to time, are prepared and submitted.
• To achieve agreed TCF deliverables in terms of specific business areas and role levels: Be fair; Meet the need; Communicate; The right fit; Your word, your honour; Make it easy
• Ensure appropriate administrative functions are being fulfilled within the Business e.g.:
o Cover is being placed and debit notes raised
o System capabilities are in place and effectively utilized
o Ensure the business is delivering excellent claims experience.
o Responsible to ensure premiums are being collected
o GLs are being reconciled and payment being made to insurers on time supported by accurate supporting documents
o Responsible to ensure that all commissions due are received
• Reviews and ensured that all Bancassurance GL reconciliations are being conducted and signs off payment to insurers and revenues are being posted to the P&L.
• Facilitates the negotiation of claims disputes to insure world class customer experience.
• Provides analysis and Insights into trends and recommendations for improving operational performance and profitability.
• Ensures sales and penetration targets into new and existing CSB, CMB bank base products are being tracked and communicated to all stakeholders.
• Monitors outstanding premiums and provides recommendations for improving collection rates and reducing lapse rates
• Performs a liaison role between the Customer, and all other internal support divisions of the Bank.
• Manage and report on the effectiveness of SLA arrangements with insurers and other service providers
• Ensure process and system changes are implemented in time and correctly
• Ensure all the reporting requirements of the business are done correctly in time (including monthly MIS reports)
• Manage, influence and coordinate the activities of all systems teams that support the business to ensure the set TAT are met
1. Measures:
• Customer service (NPS) scores of Bancassurance are within agreed levels
• Supporting growth in bancassurance sales and penetration
• Retention rates are within agreed levels
• Develop and implement appropriate Controls and business processes and procedures to reduce risk while ensuring maximum efficiency and effectiveness.
• Reduce revenue leakage by attending to premium and commission collection monthly
• Ensure that communication is conducted timeously with regard to new business, renewals amendments, unpaids and cancellations.
1.
Sales and Channel support
• Ensure appropriate processes and systems are in place to efficiently deliver on the business unit strategy
• Provides reporting on sales and channel performance to senior management, Branch managers and reporting into the Consumer Banking reports.
• Analyses insurance sales and conversion rates per product and segment in order to provide insights to improve sales and channel effectiveness
• Monitor customer complaints, identify trends and root causes and address at source to prevent reoccurrence
• Ensure efficient customer orientation, email, mobile and telephone procedures
1. Measures:
• Customer Complaints
• Customer service standards are set and met
• Operational efficiencies
• Improved TAT’s in line with SLA’s
• Growth in NFR
• Growth in customer retention
• Satisfied and well-informed customers (changes to cover, rates, regulatory etc.)
• Take appropriate action on Multi Claimants
• Ensure that communication is conducted timeously with regard to new business, renewals, amendments, unpaids and cancellations

Compliance and legislation
• Ensure proper record keeping in terms of Insurance regulations
• Ensure proper record keeping in terms of Banking regulations
• Ensure proper record keeping in terms of underwriter agreements
• Ensures that the business is adhering to all Operational risk control requirements
• Ongoing development and improvement of business processes and procedures
• Ensures agreed business processes and procedures are being followed.
• Ensure that all areas under control adhere to laid-down instructions in the Bancassurance Operations Manual
• Ensure maintenance of an effective control structure
• Feed into the monthly BURC with updates on the overall bancassurance risk environment
1. Measures:
• Satisfactory audit reports
• Satisfactory Operational risk control assessments
• Exception reports are actioned appropriately

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