Insurance Specialist at Standard Chartered Bank Kenya

Key Responsibilities

• Strategy

Sales Management: 

• Collaborate with the frontline staff to provide Professional Insurance Planning services & Presales information, Meeting Potential customers. 
• Analyse customers’ financial situation and identify their financial needs; recommend relevant Insurance solutions to best suit their needs. 
• Recommend and decide appropriate sales distribution and delivery channels and provide quality after sales – services to maintain the customer relationship & solicit referral business to expand the customer base. 
• Working closely with frontline staff to optimize the sales results. 
• Continuous Product training & development across the specific segment. Sales activation across Job families. 
• Manage sales productivity by doing joint review with Segments Heads.
• Establish a comprehensive sales process for products and services and guide its implementation across all segments and branches. 
• Support product development & deployment of appropriate systems and procedures to support sales and service for Banca. 
• Increase in penetration of Insurance products across client segments.
• Organize and deliver and present at least 1 segment specific webinar each week. Support may be obtained from Insurance Service Provider (ISP) or external stakeholder.
• Report to segment head daily on team participation. 
• Organize at least one sales meeting and one training meeting weekly for segment front-liners. 
• Manage leads via Client Experience Management System (CEMS) and ensure 80% of the leads have been actioned on. 
• Bancassurance CVP Management: 
• Look after and deliver a strong Client Value Proposition (CVP) for all bancassurance products. 
• Work with product managers to identify market growth/ cross-sell opportunities to increase product holdings and improved revenues. 
• Initiate, execute and manage marketing programmes and strategies in line with business. 
• Active analysis and review of all customer bases to understand customer profiles, behavioural and lifestyle traits (including product holding mix, revenue contribution, behavioural/ lifestyle analytics) to identify opportunities for increasing customers’ insurance wallet share (total value). 
• Keeping abreast of market competition, industry practices and best practices to constantly improve on overall business performance. 
• Ensure brand compliance for all above and below-the-line communication according to local/ global Bank's and relevant Insurance Partner standards.
• Portfolio Management: 
• Proper tracking of Bancassurance Products sales (volume/revenue) to ascertain quality, growth trends etc across the support branches/channels. 
• Proper management of Banca compliance processes that guide sales processes and product management to mitigate mis-selling and ensure Treat Customers Fairly (TCF) applies. 

Marketing Management: 

• Help plan and implement marketing strategies to acquire, expand and retain profitable relationships and grow market share. 
• Identify target customers’ financial, insurance and service needs: review, recommend and implement products / service offering in liaison with Product Manager. 
• Provide assistance in directing, motivating, training and coaching sales distribution / delivery staff. 
• Processes 
• Establish a comprehensive sales process for products and services and guide its implementation across all segments and branches. 
• Support product development & deployment of appropriate systems and procedures to support sales and service for Banca. 
• Increase in penetration of Insurance products across client segments. 

People & Talent 

• Key Talent Themes required for a successful Insurance Specialist: 
• Influence: Action Orientation, Courage 
• Work style: Connectivity between Sales & Customer Centricity, Delegator, Planner 
• Relationship: Accountability, Builder, Contribution, Encourager 
• Thought Process: Growth Orientation, Performance Orientation 
• Governance & Risk Management 
• Ensure internal controls are in place, monitor for compliance, review for changes in systems, policies & regulations. 
• Fully comply with all policies, procedures, Key Control Standards to achieve satisfactory audit grades in local & Group audits. 
• KYC / money laundering: Ensure you remain alert to the risk of money laundering and assist in the Bank’s efforts in combating it by adhering to the key principles in relation to identifying our customer, knowing our customer, reporting suspicious transactions, safeguarding records and not disclosing suspicions to customers. 
• Support the Business head and Business unit head in driving Operational Risk Framework (ORF) management and compliance effort at the business and unit level respectively. 
• Regulatory & Business Conduct 
• Display exemplary conduct and live by the Group’s Values and Code of Conduct. 
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.   
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters. 

Key stakeholders

• External          
• Customers- Engagement and relationship management         
• Internal 
• Segment General Managers and one downs- Segment collaboration/coaching     
• Branch managers and Team Leaders- Support & partnership to deliver superior customer     
• Investment Advisors and Relationship Managers    
• Other Wealth Specialists- Consultation / advise to customers          
• Technology and Operations support on customer requests, issues 
• HR & L&TD for training     

Qualifications

• Education-Degree in any business-related field 
• Certifications-Certificate of proficiency