Bancassurance Manager

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Job Summary

To provide specialist advice and support in sales support, enabling the provision of sound claims assessment expertise.

Job Description

Accountability:  Product Management: - (60%)
Outputs:

• Develop and agree income targets by product with the Product Manager. 
• Complete product research, development, and implementation process, including:
• Engaging all relevant stakeholders
• Building up business cases
• Coordinating local product testing
• Building a detailed local implementation project plan
• Project managing local implementation
• Reporting results
• Monitor local competitor product activity and pricing by conducting competitor bank branch visits. Report findings to the Product Manager at least monthly.
• On a monthly basis, prepare product income analyses by product for presentation to leadership   
• Receive customer complaints from the customer experience team and create the responses for all complaints directly related to product issue
• Interface with Operations on a daily basis to ensure that there is a broad understanding of the product processing requirements
• For each product set, work with the Head of Bancassurance (as custodian of Retail process maps) branch and sales teams (Personal Bankers and Relationship Managers) to ensure that appropriate sales processes are in place
• Support branch communications to identified customers via Direct Mail and SMS Broadcasts
• Work with the Head of Bancassurance to agree business direction and ways of conducting insurance business
• Deal with outlets, operations centers to ensure full understanding of the insurance processes & procedures
• Be the main point of contact with all third parties relating to all retail customers’ insurance products
• Support the head of Bancassurance in managing all stakeholders, internal & external, relating to insurance business
• Act as the escalation point to the Head of Bancassurance for unresolved queries and complaints from the branches.
• Co-ordinate retail insurance product activities 
• Support all Bank departments on insurance matters
• Prepare Weekly, Monthly, and Annual MIs the Head of Bancassurance 
• Achieve annual sales targets as cascaded from the Head of Bancassurance 
• Day to day monitoring of sales progress towards achieving targets daily, weekly, and monthly
• Ensure all necessary sales marketing materials are in place and distributed accordingly
• Interact regularly with internal service providers (e.g., Operations, KYC Helpdesk) to ensure fast and efficient service to customers
• Ensure that daily claims from customers are processed within the agreed standards and time frame
•  Report all repudiations, errors, and omissions to the Head of Bancassurance
• Support in dispatching all policy documents for insurance products

Accountability:  Governance and Control: - (30%)
Outputs:

• Prepare MI reports to feed into leadership for strategy and performance reviews  
• Monitor adherence to agreed sales processes by conducting regular walk-through audits and checking documentation requirements. Report findings to the Head of Bancassurance
• Review and action the UN07 Report as per business requirement ensuring deadlines are adhered to
• Ensure all regulatory requirements are met e.g., accounting returns, license renewals, informing and ensuring compliance to the insurance act
• Visits to outlets to ensure correct adherence to processes and procedures are adhered to
• Ensure timely submission of the insurance agency license

Accountability:  Product Training: - (10%)
Outputs:

• Together with the Head of Bancassurance and Network Head, identify product training needs or skills gaps and ensure that the local Learning and Development team are made aware of the training needs.
• Source training material for products from areas within Absa Group. Work with Learning and Development to customize the material for local use.
• Conduct formal training on products as required, directly to salespeople, operations and to Volunteer Trainers for Retail Products training.

Education

Higher Diplomas: Business, Commerce and Management Studies (Required)