Recruitment at Stanbic IBTC Insurance Brokers Limited for Business Development Executives

⏲ Aug 7, 2017, 6:56 PM
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Stanbic IBTC Insurance Brokers Limited (SIIB) provides solution-based risk management and insurance intermediary services aimed at the total satisfaction of our clients and other interested business establishments. We also deliver creative risk management solutions that enable our client’s create, protect and preserve wealth. We are recruiting to fill the position below: Job Title: Business Development Executive Job ID: 24908 Location: Lagos Island Job Sector: Financial Services Job Purpose

To grow and develop insurance income for SIIB and deliver profitable revenue streams from within and outside of the Stanbic IBTC Group.
Ensure effective cross sell of insurance products and services across all major product lines.
Execution of the regional sales strategy to achieve all revenue goals and targets through engagement with both external and internal stakeholders.
Expansion of the Stanbic IBTC Group business through identification of revenue opportunities and harnessing of this revenue streams.

Key Responsibilities/Accountabilities Achieve Monthly Sales Target of Insurance Brokerage Commission:

Achieve and surpass assigned monthly Insurance brokerage commission target
Achieve and surpass assigned monthly/yearly insurance policy target
Achieve and surpass assigned new customer acquisition for both personal and business lines
Identify, initiate and convert leads for SIIBL
Grow SIIBL wallet share of customer’s insurance portfolio by harnessing and upselling insurance products.
Provide advice to corporate clients on managing and transferring risk using insurance solutions
Ensure penetration into Customers own insurance arrangements by harvesting the Banks client base in CIB, PBB and Wealth thereby reducing leakage of potential revenue.
Operate within the NAICOM guidelines and framework so as to avoid sanctions or infractions to the Company.
Make physical / telephone calls / e-mails to clients for customer interactions
Organize and facilitate Interactive sessions
Effectively communicate and follow through, with client requests to Technical Operations /support units
Maintain and update comprehensive customer database.
Ensure Client Control files are maintained for all Corporate customers
Consistently identify value to our customers by leveraging the various resources within the group
Grow SIIBL’s share of mind among clients/ organizations in assigned institutions
Proffer possible strategies/ways to improve sales and relating to customers.
Identify key insurance opportunities outside of the Stanbic IBTC Bank network and across the country and appropriately position SIIBL to capture the business and revenue streams
Grow the SIIB business within the region through regular engagement with prospective clients within and outside of the Group.

Customer Service Quality and Efficiency:

Ensure sales, renewal, premium payment, policy issuing and claims processes for all insurance products and services are adhered to.
Ensure accurate recording of both insurance direct sale and cross sell revenue and sales per product or service.
Provide excellent service to existing policy holders and ensure clients are notified before insurance policies expires
Ensure all policies and products are competitive and remain competitive by conducting ongoing market and competitive analysis

Ensure Legislative Compliance and SIBTC Standards:

Operate within the NAICOM guidelines and framework so as to avoid sanctions or infractions to the Company
Educate and enlighten clients employers about the dynamics of the Insurance industry
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

Internal Relationships:

Maintain close contact with all internal stakeholders within Wealth - Benefit Administration, Administration, Contribution & Collections, Investment Management, Information Technology, Client Services, Client Experience, SIIB, SIAML, SITL and across all segments and leverage off their deals that might have insurance content.

External Relationships:

Liaise with Regulator on product development
Maintain continuous discussion with external counterparties specifically insurance companies where required

Preferred Qualification and Experience

Minimum of a First Degree in General Social Science/Marketing
A relevant Master's Degree or professional qualifications will be an added advantage
Minimum of 3 - 5 years experience with exposure in business development, sales and relationship management, sale of insurance products in an insurance company

Knowledge/Technical Skills/Expertise:

Insurance Technical Competencies
Understanding of the basic principles of insurance including good faith, insurable interest, indemnity, contribution, subrogation and proximate cause.
Knowledge and understanding of the range of insurance products and services available in the market and how that can be used to meet clients needs.
Knowledge and understanding of the information gathering process, the factors that affect the accepting and underwriting of risks and how these are applied on a day-to-day basis.

Effective Business Communication:

The ability to communicate information and ideas in a clear and concise manner appropriate for the audience in order to explain, persuade, convince and influence others to achieve the desired outcomes..

Presentation Skills:

The ability to communicate and deliver information verbally in a clear, concise and comprehensive manner to other people, using appropriate props and tools.

Compliance (KYC etc):

Knowledge and practical application of the requirements for KYC Compliance including the determination of beneficial ownership in complex client corporate structures., The ability to interpret regulations and laws that apply to the business and to provide information to business on how to comply e.g. Insurance Act 2003.

Brand Management:

The ability to use marketing techniques to increase the perceived value of the organisation over time and build customer loyalty through positive brand awareness.

Customer Understanding: