Regional Head Corporate at Stanbic IBTC Bank

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Stanbic IBTC Bank, a member of Standard Bank Group, is a full-service financial services group with major business focus on three pillars – Corporate and Investment Banking, Personal and Business Banking, and Wealth Management. Stanbic IBTC Insurance Limited (“SIIL”) is a wholly-owned Life Insurance subsidiary of Stanbic IBTC Holdings PLC. Stanbic IBTC Insurance Limited aims to provide insurance for financially included individuals and become the preferred insurer in the Life Insurance Business.

Regional Head Corporate

Job ID: 55286
Location: Abuja
Job Sector: Insurance

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Job Details

  • Test Division Summary

Job Purpose

  • To grow and develop insurance premium in order to deliver profitable revenue streams to the Business and Group.
  • The Job holder will manage Corporates, including Insurance Brokers as channels in business development.
  • Creation of sales strategy/ies that will enhance the Group’s vision to be the leading end to end financial solutions provider.
  • This will include cross sell to customers of the Group, potential customers from outside the Group and developing new market frontiers.
  • Develop sales channel strategy covering brokers, institutions , bancassurance channels etc

Key Responsibilities / Accountabilities

  • Delivers on sale of insurance policies and premium income through focus channels for Stanbic IBTC Insurance Limited.
  • Customer retention
  • Has a thorough understanding of the strategic business drivers, opportunities, challenges, needs, competition and threats inherent in the insurance environment
  • Has a good understanding of both traditional and non-traditional competitors, their drivers, products, strengths, vulnerabilities, market share/client base and the impact that these factors have Customer Value Proposition
  • Continuously monitor the market trends in the insurance industry, including regulatory and legal framework, with a view to assessing the possible impact on the insurance industry.
  • Support insurance knowledge and awareness within the Company and through various designated channels of Sales.
  • Ensure to close the loop with customers at all times. E.g. taking enquiries, ensuring prompt delivery of policy documents, proper awareness communication plan to support their decision making etc.
  • Assess customers risks through profiling of customer segments and understanding of their business
  • Review periodically the insurance portfolio and liaise with technical to make recommendations. This could result in the development of new products or enhancement of existing ones.
  • Maintain relationship with internal stakeholders within CIB, PBB and Wealth.
  • Maintain and improve relationship with external stakeholders which include NAICOM, insurance companies, brokers, direct Corporate clients/partners etc
  • Ensure no regulatory breach is recorded against the team in conduct and in doing business.
  • Analyse the performance results of competitors to bench mark the company.
  • Supervise sales team members in ensuring:
  • Individual member development
  • Cohesive Team development
  • Fostering the organisational culture.

Preferred Qualification and Experience

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  • First Degree in any discipline
  • Professional Qualification in Insurance will be an advantage
  • An MBA will also be an advantage
  • Wealth Management
  • Insurance 7-10 years
  • In-depth knowledge of products, client management, managerial experience

Knowledge/Technical Skills/Expertise:

  • Ability to grasp business models within the Insurance space pertaining to utility of various products in order to deliver on the overall strategy of the business.
  • Ability to identify and dimension business risks as opportunities and engage clients to provide novel products and solutions within the overall sales and revenue strategy
  • Ability to use initiative within limits of authority, investigate to obtain additional information or deal with ambiguity and present opportunities to more senior stakeholders as appropriate
  • Insurance Principles : Understanding of the basic principles of insurance including good faith, insurable interest, indemnity, contribution, subrogation and proximate cause
  • Ability/flexibility to negotiate re-evaluation with superiors in line with changing business needs
  • Ability to identify potential problems and opportunities and pro-actively proffer solutions through the Stanbic IBTC Insurance offering in collaboration with other underlying asset and liability products

Deadline: Not Specified.

How to Apply: Interested and qualified candidates should use the link below to apply:

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