Job Purpose
The purpose for this role is to have a dedicated resource with the appropriate skills and knowledge to support the Bancassuarance strategy in CIB segment of the bank
Responsible to Head of bancassurance with general management, renewals management, premium collection and relationship management ability
Role will involve enhancing Insurance business development through effective renewals management, ensuring all new business is written via BBIAL and insurance cross sales from CIB clients
Main accountabilities and approximate time split
Business Development/Management
50%:
Responsible for the achievement of the CIB Bancassurance revenue targets
Support the CIB team of RMs to ensure that all insurance renewals are done on time, and through the BBIAL
Support the CIB team of RMs to ensure that all NTB insurance requirements are sourced and placed with the approved underwriters, preferably FA or any other approved underwriter through the BBIAL
Work with the Trade Finance team to ensure that all LC customers are provided with marine cover through BBIAL
Joint customer visits with RMs to understand insurance needs and tailor customer led cost effective proposals to meet those needs
Attend CIB Mancom to report on insurance uptake progress and enlist support
Weekly, monthly and quarterly performance tracking
Sales activations and customer sensitization(quarterly) in partnership with partners to increase uptake e.g. breakfasts, cocktails etc. (customer sensitization)
Relationship management with insurance partners for effective service delivery
Responsible for customer complaints management within CIB segment
Responsible for claims processing and management within the TATs stated
Leading and managing the planning of annual business targets/ objective with each Relationship manager and ensuring that they are achieved through a regular process of monitoring and evaluation of results.
Manage renewals with sales teams to ensure 80% renewals target is met.
Responsible for the appropriate allocation of resources to approved field activations
Obtain Approval of all sales related expenses
Field activity by accompanying relationship managers to presentations
Dashboard management with relevant MI teams to confirm accuracy of management reports on sales activities
Own budgets distribution with insurer partners and ensure they are met as agreed
Set up Bi-weekly business review meetings with Insurance partners to discuss budget achievement and product uptake
Identify product needs and develop solutions in liaison with various insurer partners/Underwriters by sales teams.
Identifying cross and up sale opportunities and track performance
Develop training budgets, programmes as per needs identified
Develop, implement and track sales incentive programmes
Work with the Head of bancassurance to ensure strategy deliverables are properly documented and monitored.
Take and distribute minutes from Team meetings as and when meetings take place and ensure action items are closed.
Ensure all documentation is correctly completed, collected and submitted as per procedure manuals and SLA’s
Rigor/compliance
10%:
Ensure all regulatory requirements are met by ensuring compliance to the insurance act and SLA’s
Ensures review and escalation if required, of Sales administrative issues.
Responsible for compliance with business procedure manuals
Ensuring all claims are reported, tracked and resolved as per SLA by Head office
Ensure compliance with Snap checks process and internal audit
Ensure all drawn facilities have adequate cover written via BBIAL
People Management
25%:
Managing relationships with CIB staff to drive business
Dealing with outlets ,operations centre to ensure full understanding of the insurance process & procedures
Motivation of relationship managers through agreed programmes
Coaching of Stakeholders to achieve business goals
Providing general support to the CIB team as and when required
Work with Branch managers to ensure that branch staff own and manage customer queries and complaints by taking ownership and resolving in a timely manner.
Premium Collection
And policy administration.
15%:
Ensure all premium is collected from all sales as per laid down procedures in accordance with the insurance Act and SLA’s with partner insurers
Provide management reports on premium collection status of all sales done on a weekly basis
Manage all aspects of premium refunds raised by sales teams
Ensure all premium is receipted as received with partner insurer in liaison with Head office- Bancassurance teams
Technical skills / Competencies
Excellent underwriting skills and insurance product knowledge
A learning mind-set to rapidly assimilate complex business issues and quickly solve problems in a structured manner or pre-empting issues that may arise where there is limited precedence
Effective negotiating skills to secure both internal and external resources and deal with external service providers
Able to adopt and/or coach the use of a variety of methods to keep work streams on schedule and within budget
Knowledge of cost centre/budget management.
Quality, high standards and controls
Passionate Drive for results
Service Excellence
Planning and Organising
Good understanding of insurance processes
Understanding of project management principles
Implementing processes
Accuracy and attention to detail
Problem Solving skill
Technological understanding (tools – Microsoft Office, etc)
Time Management
Communication skill
Essential
Knowledge, Expertise and Experience & Qualifications
A Business related Degree from a recognized university.
COP qualification, Diploma in Insurance, LOMA or progress in ACII qualification
Exposure to Corporate business and strong relationship management skills
Knowledge of insurance business (claims management & underwriting), products and processes.
Presentation skills and expertise in proposals presentation experience
Exposure to governance, control and risk management
Proven ability to effectively work across teams
Preferred
Middle to Large Broker/Underwriter experience in dealing with Corporate insurances and relationships
Barclays Guiding Principles
Approvals
The guiding principles provides a framework for how we in Barclays work together and how we serve our customers and the communities we are in
Respect
Integrity
Service
Excellence
Stewardship
