Head, Bancassurance Sales at Standard Chartered Bank Kenya

Roles and Responsibility
Strategy

• Drive Chapter 3 agenda
• Affluent - Double number of affluent clients
• Mass retail - Create a profitable mass business powered by partnerships and digitization
• Business banking - drive the Business Banking Lending products

Take a stand on

• Accelerating Zero - Helping emerging markets reduce carbon emissions and putting the world on a sustainable path to net Zero by 2025
• Lifting Participation - improving the lives of people and their communities by unleashing the full potential of women and small businesses
• Resetting Globalisation - Supporting companies to improve working and environmental standards

Business

• Driving strategy and financial outcomes of Bancassurance
• Business Development & Change Management - looking into new business growth areas, Transforming the business model to a digitally led, human touch model, think client journeys
• People leadership and developing talent - Develop a future ready team, delegate with confidence, staff certification.
• Advocacy and stakeholder management
• Product and Sales Risk management
• Conduct - Fair client and people outcomes pegged on ethical leadership

Strategy and Planning

• Drive the overall business corporate plan covering all insurance activities across all channels based on business targets in alignment with Insurance Partners, internal stakeholders, and global strategy
• Develop & execute an overall plan to execute Bancassurance value proposition objectives.

Product Development and Operational workflow

• Identify insurance product needs for all customer segments in consultation with Segment Heads.
• Oversee launch of products within agreed timelines with internal stakeholders
• Monitor operational activities to ensure that they are compliant with
• Local regulations, policies, and procedures
• Standard Chartered Bank (SCB) Country level and Group policies and procedure

Marketing and Brand Management

• Initiate, execute, and manage marketing programmes and retention strategies in line with business objectives
• Ensure brand compliance for all above and below-the-line communication according to local / global standards for SCB and relevant Insurance Partner

Product and Sales Risk management, Compliance & Governance

• Ensure a robust risk management and compliance model for the insurance business across client segments according to local regulations and internal policies
• Ensure active monitoring and maintenance of risk management policies and controls / standards
• Ensure all insurance-related staff and activities are compliant with local and Group policies / standards / controls
• Responsible for any necessary reporting as required by local country insurance authorities and regulators. Group Insurance must be informed of all external communications to regulators.
• Ensure that the country is compliant with local insurance regulations and guidelines
• Working closely with Retail sales team comprising of Priority banking RMs, BSSE & Employee banking RMs.
• Identifying key areas for improvement in the overall sales process.
• Chairing Key stakeholders Monthly meeting to have common understanding on Sales Planning & execution.
• Monthly Reporting on Sales Performance against budget & reporting on variances.
• Continuously challenging poor processes & apply best practices & learning across the bank.
• Managing sales through Insurance Specialists expanded across country
• Day to day monitoring of sales through branch network.
• Support branch staff and other frontline staff through Robust Training & development Program.
• Organize Regular Bancassurance and client engagement session in collaboration with Insurance Services providers

People and Talent

• Support RC academy for the development of appropriate training content for the acquisition, relationship, and service teams.
• Bring our stands and strategy into the day to day - to help our teams lean to use the strategy to refocus their work, unlock new possibilities and drive new levels of performance
• Able to share best practices and emerging developments across the country / cluster
• Implement and embed a high-performance culture through robust performance management and differentiated reward and recognition
• Drive growth through innovation - identify and work on new possibilities together so we can deepen, broaden, and accelerate our pipeline on innovation.
• Lead in employee engagement and reduce attrition

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 principle in relation to identifying our customer, knowing our customer, reporting suspicious transactions, safeguarding records, and not disclosing suspicions to customers.
• Will 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.

Governance

• Manage compliance of Product Programmes (PPGs) & CADs
• Ensure compliance to Group & Country AML and CDD policies

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.
• Lead the Bancassurance team] to achieve the outcomes set out in the Bank's Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.] *
• Effectively and collaboratively identify, escalate, mitigate, and resolve risk, conduct and compliance matter or allocation].

Key Stakeholders
Internal

• Country Client Acquisition and Client Relationship teams
• Country Segment teams
• Country Credit Team
• Country Consumer Private Business Banking (CPBB) Head
• Country and Group teams (Products, Segments, CEPG, Operations, L&C, Finance, Retail Analytics)

External

• Insurance Regulatory authority.
• Bancassurers Association of Kenya
• Customers
• Insurance Service Providers

Key Measurables

• Insurance Premium & Commission (revenue) targets - for each insurance partner.
• Insurance Premium & commission targets for each distribution channel
• Referral & Conversion targets of Insurance leads
• Product holding per client & Segment penetration targets
• Penetration of digital products into various client segments
• Penetration of all insurance products into various client segments
• Frontline participation
• Effective management of Insurance Partner relationships

Knowledge & skills

• Excellent knowledge of insurance products & processes
• Regulatory qualification requirements
• Degree holder in any discipline
• Ability to manage P&L, business performance & revenues.
• Good interpersonal & management skills.
• Good understanding of customer segmentation & needs as well as an in-depth knowledge of distribution channel strategies in a bank or similar organisation.
• Minimum 3 years of related insurance experience