About the job
The incumbent that we are looking for will be responsible to establish and manage Bancassurance division within the Bank. The successful candidate will also be responsible for developing insurance processes and related products that are directly linked to the core products of the bank.
Core Responsibilities:
Financial Accountability
- Establish an effective accounting system that monitors collections made against client’s accounts and ensure that reconciliations are carried out on a monthly basis
- Accountable for setting of Financial and Sales budgets for the various departments and branches within the bank and providing monthly feedback to the Head of Retail Banking on the performance of the departments/branches against targets set.
- Review actual performance against set budget and proactively take appropriate action to assist the team in achieving their objectives.
- Compile annual budgets for income and expenses and capital budget.
- Submit to Business Heads the most recent month-end statements concerning profit performance and comment on performance against financial plans and the performance of the bank branches and departments against targets set.
Operations & Processes:
- Introduce an Internal Policy management system for each separate product
- Ensure statutory records are maintained and that returns, which comply with the requirements of the Insurance Act and Banks Act and any other relevant legislation as amended from time to time, are prepared and submitted.
- Develop and review integrated financial and management information systems designed to assist all levels of management throughout the bank in planning and controlling their operations in relation to BancAssurance objectives.
- Ensure that systems used for managing the BancAssurance products are efficient and meet business requirements.
- Ensure that all departments/Branches / Relationship Managers are trained on all new BancAssurance products.
- Attend to audit queries related to BancAssurance
- Respond to Customer related queries as they arise.
- Ensure that business practices are compliant to relevant banking laws and regulations, systems and procedures.
- Ensure timely submission of reports to business units.
Knowledge & Skills:
- Technical: Understanding of BancAssurance business.
- Behavioral: Excellent interpersonal skills, ability to influence, Proactive and fast leaner.
- Strong leadership Skills.
Qualifications & Experience:
- Bachelor’s Degree in business management, Insurance, marketing, economics, accounting, finance or any other related field
- A minimum of 5 years of working experience with insurance company
- Certification in Insurance from a recognized university/college is a must.
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