Stanbic IBTC Holdings PLC is a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management.
Stanbic IBTC Bank legally became part of Standard Bank Group 24th August 2007. The Standard Bank Group merged its Nigerian operations, Stanbic Bank Nigeria with that of IBTC Chartered Bank PLC
Job Title: Head Sales, Marketing – Stanbic IBTC Insurance Brokers
Qualification
BA, BSc, HND
Job Field
Insurance
Job Purpose
To grow and develop insurance income in the Bank and deliver profitable revenue streams via the various sectors of the Bank being Corporate, Commercial, SME, Personal and Wealth segments of the Bank by ensuring effective cross sell on insurance products and services across all major product lines.
Creation of a sales strategy that will deliver the insurance cross sell objectives of the Banking Group and execution of this strategy through engagement with both external and internal stakeholders.
Expansion of the Bank business, identification of revenue opportunities and harnessing of this revenue streams through the Stanbic IBTC Insurance Brokers sales and support in addition to the generic risk mitigation function
Key Responsibilities
Develops and drives the sales strategy around growing and servicing the insurance broker subsidiary business while ensuring that it is in line with and supports the bank ’s broader strategy
Has a thorough understanding of the strategic business drivers, opportunities, challenges, needs, competition and threats inherent in the insurance environment
Views day-to-day decisions, relationships and operations in terms of the bigger picture, keeping the overall, long term strategic objectives of Insurance Brokerage in particular and the Bank in general in mind
Has insight into market trends, developments and benchmarks within the financial sector, and its implications on the insurance brokerage
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 on the Bank’s value proposition to the client base
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.
Perform analysis of insurance companies and make recommendations regarding those that can partner with Stanbic IBTC Insurance Brokers
Establish and maintain key external relationships including establishment of MOU’s and functional agreements and periodic business discussions with insurance underwriting counterparties
Identify key insurance opportunities outside of the Stanbic IBTC Bank network and across the country and appropriately position Stanbic IBTC Insurance Brokers to capture the business and revenue streams.
Support insurance sales in the network through awareness, training and a “helpdesk” function for relationship officers and sales consultants in the various business segments
Embark on key joint calls with other business units across the country where required
Deliver on sales, insurance cover and revenue targets for Stanbic IBTC Insurance Brokers as agreed with line manager.
Key Performance Measures
Profitability
Achieve Profitability
Staff Up skilling and Training
Improve Efficiency and Effectiveness
Customer Service Quality and Efficiency.
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