Business Development Officer - Stanbic Insurance Agency Limited at Standard Bank Group

Job Purpose

• To support Stanbic Insurance Agency Limited - SIAL in achieving goals, income and profit budgets by way of managing the behaviour of staff and relationships Vehicle & Asset Finance (VAF) teams across Stanbic bank.
• To ensure on-going and successful sales and distribution of Insurance including renewals and Bancassurance products through the branch network (branch including business staff, and Vehicle & Asset Finance)
• To implement sales plans/actions and identify sales opportunities.
• To ensure all compliance issues are dealt with and compliance targets are met.

Key Responsibilities/Accountabilities

• Sales management
  
  • Oversees the sales performance across Vehicle & Asset Finance (VAF) and achieve 90% New to Bank, 90% renewals and 60% on Assets financed but not insured with Stanbic Insurance Agency Limited (SIAL)
  • Clearly understands sales targets set and influences and drives the achievement of SIAL sales targets within Vehicle & Asset Finance (VAF)
  • Ensures that SIAL cross-selling takes place in new and existing business, within Vehicle & Asset Finance (VAF)
  • Markets and provides information on the full range of 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 stakeholders teams on queries/complaints and sales statistics.
  • Analyses MIS to understand where the sales gaps, are within VAF and the different channels.
  • Advises and shares best practices, tactics and actions plans with VAF consultants and Business Development teams 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.
• Office administration
  
  • Completes all administration requirements timeously, e.g. weekly Vehicle & Asset Finance (VAF) penetration report ,renewals reports, activity sheets and discusses this daily with the Business Development and during the weekly sales meeting.

Preferred Qualification and Experience

Relevant degree from a recognised University

Experience

• 2-5 years’ Sales experience
• Proven Sales track record.
• Experience in performing elementary functions on computer systems (most often used)

Knowledge/Technical Skills/Expertise

• Problem solving
• Analyses and monitors sales trends and volumes and proposes changes to training, processes, systems and procedures. Ensures compliance to standards. Intervenes when problems and issues arise.
• Negotiates or resolves conflict and differences, agrees upon courses of action, bargains for advantage, to satisfy various needs: Realises seriousness, shows diplomacy and transparency, and involves key parties.
• Planning
• Plans sales activities to meet and exceed targets on a daily weekly and monthly basis.
• Formulates action plans – sets goals, standards and priorities on a daily weekly and monthly basis.
• Decision making
• Monitors and responds to changes in the environment to ensure that customer’s needs are met.
• Decisions must be made within policies, but the jobholder can propose changes to the process.
• Able to take the initiative within limits of authority.

Requirements

• Excellent verbal communication skills, sincere and articulate, and be able to communicate to customers
• Should be energetic, and be able to relate well to the local branch of work.
• Must enjoy selling and be customer service-orientated.
• Has a general understanding of diversity and the value thereof. Deals with and resolves conflict, hostility, and unsympathetic behaviour as relating to diversity. Supports diversity policies and interventions.
• Establish effective working relationships with all stakeholders
• Deals with staff and other managers: required to show insight into others' emotions and behaviour and deals with moderate levels of complexity, and engagement. Shows empathy, respect, patience with positive body language.
• Good presentation and negotiation skills.
• Emotional intelligence/maturity
• Self and time management
• Able to convey factual information clearly.
• Ability to listen and probe effectively to determine customers’ real needs.