CFC Jobs. Business Development Officer

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Job Purpose

  • Achieving the set goals, income and profit budgets under IDG segment (NGO’s, Schools, Religious Institutions etc) by way of managing the behaviour of staff and relationships with bank staff through training, support and motivation.
  • To ensure on-going and successful sales and distribution of Insurance products through the branch network.
  • To implement sales plans/actions/promotions and identify sales opportunities.

Business Development Job Key Responsibilities in Kenya

Sales Management

  • Oversees the insurance sales performance across the IDG segment and all products (i.e. general insurance and employee benefits).
    Clearly understands sales targets set and influences and drives the achievement of Stanbic Insurance Agency (SIA) sales targets with all customer facing/sales staff.
    Ensures that Stanbic Insurance Agency (SIA) cross-selling takes place in new and existing business, within all the land branches.
    Plans and executes exciting, innovative SIA related sales tactics.
    Markets and provides information on the full range of SIA products to customers to optimise cross-sell.
    Identifies gaps/anomalies and develops ideas to rectify and improve performance.
    Assists in the development and repositioning on new product initiatives.
    Provides timeous feedback to the pro-active teams on queries/complaints and sales statistics.
    Analyses MIS to understand where the sales gaps, are within the products and the different channels.
    Advises and shares best practices, tactics and actions plans with banks’ sales staff to close sales gaps.
    Handles basic activities/queries that fall within the policy terms and understands impact of actions on other areas of the business (claims/underwriting/sales). Differentiates between product features and benefits based on customer needs.

Relationship building

  • Constantly maintains a professional environment and celebrates successes.
  • Builds and maintains relationships with relationship managers/business bankers and Direct Sales teams and collaborates and integrates with them.
  • Attends regular meetings with pro-active teams Direct Sales, Relationship Managers and business bankers.
  • Attends regular meetings with branch teams (Branch, VAF, Trade and business bankers/Managers).
  • Participates in the branches, Business Banking, VAF, Trade and all proactive teams’ connects sessions.
  • Effectively uses the connect session as a forum to do present various SIA products to the stakeholders.
  • Builds knowledge at the connect sessions, manages the overall process of attendance, convenes meetings, minutes, monitors performance, facilitates discussions and debate. Utilises the forum as a vehicle for formulation and implementation of business strategy.
  • Services all complaints, in respect of the products.
  • Supports other business units and other departments within SIA.
  • Applies knowledge, resources and experience to resolve problems.
  • Takes personal responsibility for coaching and mentoring others.
  • Ensures direct sales staff are appropriately and consistently rewarded and recognised for their achievements and outputs.
  • Integrates all members of the team into a harmonious unit committed to the team vision and direction within the team (Intra-team). Encourages, clarifies, and shows the team how to reach common and shared goals (work is done in team context). Fosters team spirit through competitiveness.
  • Identifies and acts upon potential sales opportunities.

Training

  • Ensures competency-based training on products takes place with various stakeholders as and when required.
  • The stakeholders are trained, accredited, and coached on the various products and SKI system

Office management

  • Completes all administration requirements timeously, e.g. weekly calling reports, claims, staff training sign-on and activity sheets and discusses this daily with the branch manager or pro-active manager.

Process implementation

  • Implements new processes in the branches concerning changes to and launches of new products.

Risk & Compliance

  • Provides complete disclosure to the customers in terms of accreditation, service fees, and commission.
  • Ensures proper record keeping in terms of Proceeds of Crime and Anti Money Laundering Act, The Banking Act (Cap 488), The Anti-Corruption &
  • Economic Crimes Act, The Insurance Act (Cap 487) and any other relevant legislation
  • Ensure all forms are completed correctly and send to Operations for uploading to Bancassurance Policy Management system as the record keeper
  • Assist channel in achieving their risk compliance ratings in terms of all SIA requirements
  • Ensure customers are satisfied with SIA products bought in channel

KPI

  • Provide input in developing sales strategies and identifying opportunities in the CIB, Personal & Business Banking Insurance space.
  • Oversees the sales performance across all insurance products, both general and life at channel.
  • Maximizes penetration of SIA by achieving sales targets timeously.
  • Assists in development and repositioning on new product initiatives.
  • Profitable Growth in Insurance New Business Sales (SIA Business).

Preferred Qualification and Experience form Business Development Jobs in Kenya

  • Undergraduate degree from a recognized university
  • Professional insurance/sales/marketing qualification
  • Previous Insurance relationship management experience (brokerage or business development) as an Account Executive managing a portfolio of commercial clients is preferable.
  • This experience provides an understanding of how businesses operate, as well as understanding the insurance business risks, industry risks and financial requirements pertaining to the commercial insurance short term market.
  • Experience of managing and/or working within a team that delivers
  • Experience in the financial advisory /investment and/or insurance broking industry
  • Proven sales track record in the financial services industry

Knowledge/Technical Skills/Expertise

  • Understanding of macro-economic, business, social, political trends and the transformation of this knowledge into operational strategy
  • Create, edit and print files from Word, Excel to capture and analyse Insurance/financial data & Power Point.
  • A solid understanding of insurance principles like law of contract, good faith, subrogation, insurable interest, proximate cause, indemnity, excess as well as insurance classes and the impact of these on their direct environment. Furthermore, a basic understanding of insurance terminology.
  • A sound working knowledge of short term insurance sales principles and practices to manage and optimise portfolio retention and growth.
  • In depth understanding of range of products in market, competitor advantages and disadvantages and own product competitive position
  • A sound understanding of risk cycles pertaining to the industry being analysed.
  • A good current knowledge and understanding of different industry sectors and sector risk profiles/ trends;
  • A thorough knowledge of multi-level products available to banking customers.
  • Extract and apply information to CRM (Customer relationship management) strategy

How to Apply

Click here to apply

 
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