Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa’s financial system for 150 years, and now spans 16 countries across the African continent.
Standard Bank is a firm believer in technical innovation, to help us guarantee exceptional client service and leading edge financial solutions. Our growing global success reflects our commitment to the latest solutions, the best people, and a uniquely flexible and vibrant working culture. To help us drive our success into the future, we are looking for resourceful individuals to join our dedicated team at our offices.
We are recruiting to fill the position below:
Job Title: Business Development Executive – SIIBL
Job ID: 29047
Location: Lagos Island, Lagos
Job Sector: Financial Services
Location: Lagos Island, Lagos
Job Sector: Financial Services
Job Purpose
- To grow and develop insurance income for SIIB and deliver profitable revenue streams from within and outside of the Stanbic IBTC Group.
- Ensure effective cross sell of insurance products and services across all major product lines.
- Execution of the regional sales strategy to achieve all revenue goals and targets through engagement with both external and internal stakeholders.
- Expansion of the Stanbic IBTC Group business through identification of revenue opportunities and harnessing of this revenue streams.
Key Responsibilities/Accountabilities
Achieve monthly sales target of Insurance brokerage commission:
Achieve monthly sales target of Insurance brokerage commission:
- Achieve and surpass assigned monthly Insurance brokerage commission target
- Achieve and surpass assigned monthly/yearly insurance policy target
- Achieve and surpass assigned new customer acquisition for both personal and business lines
- Identify, initiate and convert leads for SIIBL
- Grow SIIBL wallet share of customer’s insurance portfolio by harnessing and upselling insurance products.
- Provide advice to corporate clients on managing and transferring risk using insurance solutions
- Ensure penetration into Customers own insurance arrangements by harvesting the Banks client base in CIB, PBB and Wealth thereby reducing leakage of potential revenue.
- Operate within the NAICOM guidelines and framework so as to avoid sanctions or infractions to the Company.
- Make physical / telephone calls / e-mails to clients for customer interactions
- Organize and facilitate Interactive sessions
- Effectively communicate and follow through, with client requests to Technical Operations /support units
- Maintain and update comprehensive customer database.
- Ensure Client Control files are maintained for all Corporate customers
- Consistently identify value to our customers by leveraging the various resources within the group
- Grow SIIBL’s share of mind among clients/ organizations in assigned institutions
- Proffer possible strategies/ways to improve sales and relating to customers.
- Identify key insurance opportunities outside of the Stanbic IBTC Bank network and across the country and appropriately position SIIBL to capture the business and revenue streams
- Grow the SIIB business within the region through regular engagement with prospective clients within and outside of the Group.
Customer Service Quality and Efficiency:
- Ensure sales, renewal, premium payment, policy issuing and claims processes for all insurance products and services are adhered to.
- Ensure accurate recording of both insurance direct sale and cross sell revenue and sales per product or service.
- Provide excellent service to existing policy holders and ensure clients are notified before insurance policies expires
- Ensure all policies and products are competitive and remain competitive by conducting ongoing market and competitive analysis
Ensure Legislative Compliance and SIBTC standards:
- Operate within the NAICOM guidelines and framework so as to avoid sanctions or infractions to the Company
- Educate and enlighten clients employers about the dynamics of the Insurance industry
- Continuously monitor market trends in the insurance industry, including the regulatory and legal framework, with a view to assessing the possible impact on the insurance brokerage
Internal Relationships:
- Maintain close contact with all internal stakeholders within Wealth – Benefit Administration, Administration, Contribution & Collections, Investment Management, Information Technology, Client Services, Client Experience, SIIB, SIAML, SITL and across all segments and leverage off their deals that might have insurance content.
External Relationships:
- Liaise with Regulator on product development
- Maintain continuous discussion with external counter-parties specifically insurance companies where required
Preferred Qualifications and Experience
- Minimum of a First Degree in General Social Science/Marketing
- A relevant Masters degree or professional qualifications will be an added advantage
- Minimum of 3 – 5 years experience with exposure in business development, sales and relationship management, sale of insurance products in an insurance company
Knowledge/Technical Skills/Expertise
Insurance Technical Competencies:
Insurance Technical Competencies:
- Understanding of the basic principles of insurance including good faith, insurable interest, indemnity, contribution, subrogation and proximate cause.
- Knowledge and understanding of the range of insurance products and services available in the market and how that can be used to meet clients needs.
- Knowledge and understanding of the information gathering process, the factors that affect the accepting and underwriting of risks and how these are applied on a day-to-day basis.
Effective Business Communication:
- The ability to communicate information and ideas in a clear and concise manner appropriate for the audience in order to explain, persuade, convince and influence others to achieve the desired outcomes..
Presentation Skills:
- The ability to communicate and deliver information verbally in a clear, concise and comprehensive manner to other people, using appropriate props and tools.
Compliance (KYC etc):
- Knowledge and practical application of the requirements for KYC Compliance including the determination of beneficial ownership in complex client corporate structures.
- The ability to interpret regulations and laws that apply to the business and to provide information to business on how to comply e.g. Insurance Act 2003.
Brand Management:
- The ability to use marketing techniques to increase the perceived value of the organisation over time and build customer loyalty through positive brand awareness.
Customer Understanding:
- The ability to analyse customer needs by engaging with them, analysing their business objectives and their financial position.
Interested and qualified candidates should:Click here to apply
Job Title: Business Development Executive – SIPML
Job ID: 28412
Location: Lagos Island, Lagos
Job Sector: Financial Services
Job Purpose
- The Relationship Manager is responsible in providing tailored consultative solutions for all Pension and Gratuity related matters in the region by driving voluntary contributions across the employees of assigned institutions and growing SIPML’s market share in RSA Holders and Assets Under Management.
- Responsible for ensuring clients perceive, feel and experience the Company positively through timely and conclusive resolution of pre and post sales issues; and other related/incidental matters.
Key Responsibilities/Accountabilities
- Achieve and surpass assigned monthly RSA pin target
- Achieve and surpass assigned monthly/yearly contribution target
- Achieve and surpass assigned new employers targets
- Grow SIPML’s wallet share of employer’s business by generating and creating more contributing RSA pins.
- Provide advice to employers, on potential Pension/Gratuity solutions based on consultative analysis of their business model and pension industry dynamics.
- Identify, initiate and convert leads for SIPML.
- Operate within the Pencom guidelines and framework so as to avoid sanctions or infractions to the Company.
- Analyze and review potential labor challenges or peculiarities that may lead to sub-optimization for the employer or organization.
- Make physical / telephone calls / e-mails to clients for customer interactions
- Educate and enlighten employees and their employers about the dynamics of the Pension industry
- Operate within the Pencom guidelines and framework so as to avoid sanctions or infractions to the Company
- Ensure adherence to code of ethics and all other related guidelines
- Ensure smooth internal & external stakeholder management
Internal Relationships:
- Maintain close contact with all internal stakeholders within Wealth – Benefit Administration, Administration, Contribution & Collections, Investment Management, Information Technology, Client Services, Client Experience, SIIB, SIAML, SITL and across all segments
External Relationships:
- Liaise with Regulator on product development
Preferred Qualification and Experience
- Minimum of a First Degree in General Social Science/Marketing
- A relevant Masters degree or professional qualifications will be an added advantage
- Minimum of 3 years sales experience with exposure in sales and relationship management
Knowledge/Technical Skills/Expertise
- Effective Business Communication – The ability to communicate information and ideas in a clear and concise manner appropriate for the audience in order to explain, persuade, convince and influence others to achieve the desired outcomes..
- Presentation Skills – The ability to communicate and deliver information verbally in a clear, concise and comprehensive manner to other people, using appropriate props and tools.
- Brand Management – The ability to use marketing techniques to increase the perceived value of the organisation over time and build customer loyalty through positive brand awareness.
- Compliance – The ability to interpret regulations and laws that apply to the business and to provide information to business on how to comply e.g. Pension Reform Acts 2014.
- Focusing attention and efforts on understanding customers (or customer segments) and proactively addressing different customer/client needs. Makes organisational changes or innovates when needed to address customer/client needs.
Interested and qualified candidates should:Click here to apply
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