Business Development Officer - Nakuru Branch ( FAK) at Absa Bank Limited

Job Summary

To support Nakuru Branch in general business with the required skills to meet the customers’ expectations and revenue objectives.

Job Description

• Establish and maintain professional relationships through networking with intermediaries within the retail segment.
• Host regular and relevant functions (as agreed with line management) to seek opportunities to develop strong relationships and business bonds.
• Nurture established relations with intermediaries and clients within the retail space to ensure the continuous enhancement and improvement of customer retention initiatives.
• Implement a business acquisition strategic plan by growing GWP in line with the Company’s growth strategy for the retail segment through retention, generic growth, and acquisition of new business. 
• Work closely with assigned agencies to achieve growth objectives in target market segments.
• Sign service-level agreements with our identified top supporters at the Branch and ensure agreed TATs are followed up across internal departments. 
• Acquire and develop new agents by carrying out a series of strategic business development interventions. 
• Drive First Assurance’s profitability objective by growing a balanced portfolio within the retail segment by initiating partnerships to drive profitable products with key partners alongside other initiatives.
• Conduct regular training for intermediaries and clients within the retail segment to increase understanding and uptake of the company’s products.
• Manage agreements with the channel partners and ensure consistent compliance by all parties. 
• Support new product development/product review by seeking gaps/solutions in the market guided by technical feasibility, commercial viability, and market compatibility and ensure alignment with customer requirements, financial attractiveness, and product development guidelines. 
• Support collection efforts and ensure compliance with the company’s credit policy.
• Prepare monthly business development reports detailing initiatives, performance, and other related projects/activities. Collect market intelligence through research by reading articles, publications, the internet, word of mouth, and networking on a daily basis to keep abreast of market developments.
• Assess market opportunities with respect to competitor sales sources by remaining in touch with market forces and influencers.
• Ensure top-notch customer experience is provided to all business partners across the entire retail channel.

Requirements

Knowledge, experience and qualifications required:

• Bachelors' degree in a Business related field.
• Professional qualification in Insurance (ACII, AIIK) an added advantage.
• At least 3+ years experience in the financials sector and an added advantage in the insurance industry and in sales and business development position.

Technical/ Functional competencies

• Knowledge of insurance regulatory requirements
• Knowledge of insurance products
• Sales and marketing management skills

REQUIRED SKILLS

• Performance monitoring and evaluation, Market research, intelligence, Business development, Business strategy, Business intelligence, Sales strategy, Marketing