Insurance Careers – Principal Officer, Bancassurance – Tropical Bank Limited
Job Title: Principal Officer, Bancassurance
Organisation: Tropical Bank Limited
Duty Station: Kampala, Uganda
Reports to: Head of Retail
About US:
Tropical Bank Limited was established in 1973 under the name Libyan Arab Uganda Bank for Foreign Trade and Development. Tropical Bank Limited is jointly owned by the Governments of the Republic of Uganda 0.03% and the Libyan Foreign Bank (LFB) 99.97% of Paid-up Capital. The Bank provides professional and personalized commercial banking services to various sectors of the economy including financial support to Parastatals, Corporates, Small and Medium Enterprises, Individuals, and Non-Governmental Organisations.
Job Summary: The Principal Officer, Bancassurance will mainly plan and lead the execution of all aspects of the Bancassurance Business; business growth, revenue assurance, management of stakeholders’ relationships (insurers, underwriters and others) in line with the business goals and objectives.
Key Duties and Responsibilities:
Manage Bancassurance Business:
- Focal person to ensure compliance to internal policies and procedures in all Bancassurance services,
- To constantly guarantee that Bancassurance services operate in fulfillment of the legal, statutory and regulatory requirements (Bancassurance Regulation 2017 and any amendments) according to Insurance Regulatory Authority, Bank of Uganda and other relevant bodies,
- Prepare and avail for inspection and supervision purposes by the Regulators all required records for purposes of inspection and respond to emerging issues,
- Lead the development of a Strategy for Bancassurance, advise Management on execution and monitoring of implementation progress,
- To supervise the daily Bancassurance Operations which entails cross – selling of products; posting of risk details, claims administration and documentation,
- Supervise the Specified persons and Sales Officers.
Manage relationships and partnerships
- Develop and institutionalize criteria and processes; Due Diligence Tools, Key Fact Documents and other operational instruments for initiating and engaging Policy Holders,
- To create new client relationships and partnerships whilst ensuring retention of existing business relationships through high standards of customer service,
- Draft agreements and escalate for respective layers of approvals,
- Ensure customer inquiries are resolved promptly as per laid down policies and procedures,
- Manage correspondences with insurance companies, Uganda Insurance Association and other relevant stakeholders,
- Represent the Bank at conferences, business meetings and industry events.
Spearhead persistent business growth;
- Drive sustainable growth of the assigned portfolio in order to achieve the set standards and targets,
- Monitor to ensure the maintenance of accurate records and reports on Bancassurance transactions,
- Champion the delivery of good customer service to ensure customer retention and royalty,
- Organize Bancassurance sales activation programs.
- Manage and monitor financial and revenue performance
- Track the collection of premiums on all insurance business transacted,
- Champion trainings on ‘Management of Bancassurance Products’ as well as oversee the “Sensitization of Customers’ on Bancassurance products.
Reporting
- Prepare and submit to the Insurance Regulatory Authority and the Bank‘s management, the periodical (such as the monthly and annual reports on the performance of the Bancassurance Business)
- Render all necessary assistance to the Policyholders or Claimants or Beneficiaries in complying with the requirements for settlement of claims by the Insurer,
- Follow up and respond to any client complaints and enquiries or claims lodged.
Qualifications, Skills and Experience:
- The applicant for the Tropical Bank Limited Principal Officer, Bancassurance job placement must hold a bachelor’s degree in a business or related field from one of the Public Universities or Uganda Martyrs University, Mountains of the Moon, Uganda Christian University and Islamic University of Uganda.
- A diploma in Insurance from the Chartered Insurance Institute of the United Kingdom or a similar Institute.
- Holder of Professional indemnity and Fidelity insurance policies (added advantage)
- Four years of experience in Insurance.
- Ability to identify business opportunities from market intelligence
- Knowledge of underwriting, claims, finance or regulation
- Experience in training and sales (added advantage)
- Leadership skills
- Communication skills
- Planning and organizational skills
- Negotiation skills
- Networking skills and relationship management
- Attention to detail
- Problem solving skills
- Creative and innovative thinking
How to Apply:
If your qualifications and experience match those described above please send a detailed application together with your CV, copies of your academic certificates and transcripts and a cover letter of not more than 2 pages explaining why you consider yourself to be the best suited candidate.
Send to:
Head of Human Resource,
Tropical Bank Limited,
Plot 54 Lugogo Bypass (Rotary Avenue)
P.O. Box 9485, Kampala
Deadline: 9th July 2018 by 5:00pm
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