Career Opportunities at Absa Group Limited

Job Description

1. To achieve agreed sales targets in line with the business objectives through pro-active selling of non-life (General) insurance products and provision of excellent customer service.
2. The role also involves end to End General(Non-Life) insurance processing from Prospecting to claims management.

SALES TO CUSTOMERS

1. Sales of General Insurance( Motor, Non motor and Medical Insurance) bancassurance products as guided
2. Deliver exceptional sales performance by identifying and meeting customer needs through selling & cross selling of General insurance products.
3. Receive Mi from the Sales Manager on the insurance portfolio at the branch for engagement and cross sells
4. Monitor Branch renewals with an eye to obtain cross sales and referrals to grow insurance portfolio
5. Provide direct “hands on” sales support (quality lead generation and effective follow-up)         to convert quality leads into sales.
6. Participate in specific product and campaigns by ensuring that the products are explained to customers.
7. Agree, meet and exceed targets for specific sales campaigns.
8. Maintain own sales performance statistics for management information usage.
9. Monitor own sales performance on a daily, weekly and monthly basis and provide results to the Sales Managers. Provide activity sheets and pipeline data as requested
10. Own and manage personal products & channel sales targets to contribute towards the direct sales objectives and targets.
11. Refer to the appropriate area of delivery for specialist product help or advise (e.g. Bancassurance department) when uncertain about the product delivery or application process.  Respond directly to the customer.

PROVISION OF CUSTOMER SERVICE

1. As per procedure manual provide customer documents( Policy Documents, Risk Notes, Debit Notes, Acknowledgement forms and receipts on time
2. Own customer queries and complaints around the insurance product and resolve in a timely manner.  Escalate any unresolved queries, or queries not resolved in a short period of time to the Line Manager or Bancassurance team.
3. Build relationships with internal service providers (Operations and Bancassurance team) to ensure a quick turnaround time of escalated queries and complaints.
4. Advise customers as soon as the purchased product has been accepted by the underwriter.

OPERATIONAL RIGOUR AND COMPLIANCE WITH KYC REQUIREMENTS (SALES TO CUSTOMERS)

1. Sales of General Insurance( Motor, Non motor and Medical Insurance) bancassurance products as guided
2. Deliver exceptional sales performance by identifying and meeting customer needs                     through selling & cross selling of General insurance products.
3. Receive Mi from the Sales Manager on the insurance portfolio at the branch for engagement and cross sells
4. Monitor Branch renewals with an eye to obtain cross sales and referrals to grow insurance portfolio
5. Provide direct “hands on” sales support (quality lead generation and effective follow-up)         to convert quality leads into sales.
6. Participate in specific product and campaigns by ensuring that the products are explained to customers.
7. Agree, meet and exceed targets for specific sales campaigns.
8. Maintain own sales performance statistics for management information usage.
9. Monitor own sales performance on a daily, weekly and monthly basis and provide results to the Sales Managers. Provide activity sheets and pipeline data as requested
10. Own and manage personal products & channel sales targets to contribute towards the direct sales objectives and targets.
11. Refer to the appropriate area of delivery for specialist product help or advise (e.g. Bancassurance department) when uncertain about the product delivery or application process.  Respond directly to the customer.

PROVISION OF CUSTOMER SERVICE

1. As per procedure manual provide customer documents( Policy Documents, Risk Notes, Debit Notes, Acknowledgement forms and receipts on time
2. Own customer queries and complaints around the insurance product and resolve in a timely manner.  Escalate any unresolved queries, or queries not resolved in a short period of time to the Line Manager or Bancassurance team.
3. Build relationships with internal service providers (Operations and Bancassurance team) to ensure a quick turnaround time of escalated queries and complaints.
4. Advise customers as soon as the purchased product has been accepted by the underwriter.

OPERATIONAL RIGOUR AND COMPLIANCE WITH KYC REQUIREMENTS

1. Comply with the Non life procedure Manual on procedures and processes in totality and refer any exceptional items to head office
2. Complete Insurer proposal forms and attach relevant supporting documentation like copies of logbook and valuation reports
3. Ensure accuracy of each application and all other customer documents. Lead Generators (LGs) are held personally accountable for accuracy and quality of these and supporting documents that they complete and submit.
4. Achieve operational rigour excellence in all aspects of procedures and processes personally undertaken to ensure green audit.
5. Comply with general Absa operational risk & rigour requirements e.g. Health & Safety standards and security of premises, KYC and anti-money laundering regulations.

CONTRIBUTE TO DEVELOPMENT OF THE TEAM

1. Share knowledge and experience with other Lead Generators in the team.
2. Provide cover for other Lead Generators in case of excessive workload or absence.
3. Deputize for the Line Manager whenever required.

CLAIMS MANAGEMENT

1. Ensure All claims are reported to Head office Bancassurance team as guided and assist the client to attach relevant documentation and have claim forms well completed as trained
2. Pursue Claims from Notification, Registration to settlement and ensure TAT is followed as per agreed terms
3. Manage customer service on claims by informing the client of each claim update.

RENEWALS MANAGEMENT

1. Achieve renewals on portfolio of 90%
2. Pursue continued improvement in obtaining cross sales for additional sales from existing customers

UNPAID PREMIUM MANAGEMENT

1. Ensure all business production is paid for and receipted as per insurer agreements
2. Pursue continued improvement in premium collection with each sale.

Technical Skills/Competencies

1. Excellent planning & organization skills
2. Very strong communication & questioning skills
3. Networking
4. Good selling/influencing skills
5. Presentation skills
6. Listening skills
7. Knowledge and Expertise

Essential

1. Knowledge of the Bank’s products, services and policies including standard tariffs.
2. A thorough understanding of the Insurance sales process
3. A working knowledge of non-life insurance products

Preferred

1. A sound working knowledge of the insurance market and competitor products.
2. Experience, qualifications and other requirements specific to the role

Essential

1. First degree or diploma
2.  Relevant experience in Non-Life Insurance  sales
3. Or KCSE – Overall C Plain and C Plain, in English and Mathematics
4. Certificate of Proficiency (COP) qualification as a minimum. Or progress towards COP.

Preferred

1. Competitor product sales experience

Education

1. Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)

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Job Description

1. The purpose for this role is to have a dedicated resource with the appropriate skills and knowledge to co-ordinate sales activities and business development for the business.
2. The stakeholder management deliverable includes regular and coordinated attendance of sales connect session with the retail network to drive the insurance agenda

Revenue Delivery; 60%

1. Achieve set revenue insurance targets in BB
2. Drive insurance engagement and penetration in BB through regular client and coverage team engagement.
3. Drive an optimal product mix between Life and Non-Life for holistic solutioning of customer needs.
4. Positioning insurance solutions alongside bank wide initiatives.
5. Work with marketing for improved visibility and sustained product awareness to drive sales
6. Attend BB sales connect sessions to report on insurance Pipelines and uptake progress and enlist support, plus get insights on opportunities available.
7. Ensure Weekly dashboard, monthly and quarterly performance tracking is shared with all stakeholders
8. Have Sales activations and customer sensitization(quarterly) in partnership with partners to increase uptake and leverage on Bank customers activities to position the same
9. Servicing Business Banking customers and ensuring the TATs with customers are adhered to
10. Monitoring and evaluation business strategies set
11. Obtain Approval of all sales related expenses
12. Dashboard management with relevant MI teams to confirm accuracy of management reports on sales activities
13. Quarterly business review meetings with Insurance partners to discuss business activities
14. Identifying cross and up sale opportunities and track performance
15. Work with the Business Development manager -BB&CIB to ensure strategy deliverables are properly documented and monitored.
16. Responsible for call reports on customer visits.
17. Ensure all documentation is correctly completed, collected and submitted as per procedure manuals and SLA’s
18. Work with partners to ensure Commercial Banking customers receive bespoke solutions and service

People Management Role 30%

1. Managing relationships with stakeholders to drive business
2. Sustained insurance awareness within the network
3. Providing general support to the BB team as and when required to drive sales and unlock opportunities
4. Upskilling the team on corporate insurance prospecting and business development.

Rigor/Compliance; 10%

1. Ensure TCF regulations are observed while attending to customers.
2. Ensure all covers are placed as per process and procedures.
3. Ensure all regulatory requirements are met by ensuring compliance to the insurance act and SLA’s

Role/person specification

1. A Business-related Degree from a recognized university.
2. Knowledge of insurance business, products, and processes. Minimum 10 years insurance experience in Insurance business development and relationship management.
3. Diploma in Insurance (CII/AIIK)
4. Experience of managing activity across the whole of a project lifecycle, using current technology, structured methods and a quality process
5. Exposure to governance, control and risk management
6. Proven ability to effectively work across teams
7. Ability to effectively work across teams

Knowledge and Skills

1. A learning mindset to rapidly assimilate complex business issues and quickly solve problems in a structured manner or pre-empting issues that may arise where there is limited precedence
2. Effective negotiating skills to secure both internal and external resources and deal with external service providers
3. Able to adopt and/or coach the use of a variety of methods to keep work streams on schedule and within budget
4. Insurance Service Excellence
5. Good understanding / Implementation of end to end insurance processes
6. Basic understanding and support of project management principles
7. Ability to prepare and interpret management/production reports.

Education

1. Higher Diplomas: Business, Commerce and Management Studies (Required)

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Job Summary

1. The role holder will be a member of the Africa Absa Business Support and Corporate Recoveries Team with responsibility for the delivery of turnaround strategies to a portfolio of predominantly Mid Corporate customers experiencing financial stress as well as the delivery of recovery strategies to a portfolio of Corporate Customers experiencing financial distress
2.  He/she will take responsibility for determining the objectives, strategies and actions that need to be adopted to address business-risk issues, reduce the Bank’s risk, and achieve long lasting turnaround solutions so that the customer can be returned to a Relationship Manager in the Corporate/Business Banking Department
3. The successful candidate will also be responsible for determining the objectives, strategies and actions that need to be adopted to address business-risk issues, reduce the Bank’s risk, and achieve managed exit/recovery solutions so that the bank realizes the maximum return in the shortest possible time.
4.  The successful candidate will also be responsible for a portfolio made up of the most involving and complicated corporate and business banking recovery accounts, a selection of which have the highest provisions raised on them, those with the highest exposures, and those which are politically sensitive.

Job Description

Main Accountabilities and approximate time split

Business Management – 40%

1. Lead discussions with Relationship Managers to identify Bank risk, Business risk and critical issues for specific customers. Lead proactive formulation and implementation of strategies to improve Business and Bank risk.
2. Actively manage customers, through customer visiting, to ensure business and banking risk issues are addressed in a timely manner
3. Obtain customers’ commitment to implement appropriate strategies and actions to improve business and Bank risk.
4. Packages, reviewing / quantifying business and Bank risk.
5. Analyze / appraise lending propositions, customers’ plans / strategies and budgets & cash flow – sensitivity analysis.
6. there are mutual relationships
7. Develop network of contacts internally and also with local external professionals in order to maximize effectiveness in assisting customers.
8. Promote the Business Recovery team to internal audiences (including relationship and credit teams and group companies) and professionals.
9. Where appropriate, manage the use of professionals including accountants, turnaround managers, solicitors and property professionals, obtaining customer’s agreement to their use, preparing instructions and reviewing results.
10. Ensure data integrity is maintained
11. Raise provision if required

Recoveries – 30 %

1. Lead detailed negotiations with customers, sometimes in conjunction with Relationship Managers, regarding the agreement to, and implementation of, strategy, e.g. Settlement proposals, etc.
2. Lead proactive formulation and implementation of strategies on managed exits/recoveries.

Sales and Service – 20%

1. Lead detailed negotiations with customers, sometimes in conjunction with Relationship Managers, regarding the agreement to, and implementation of strategy e.g. new lending propositions, terms and conditions of continuing Bank support etc. 
2. Manage relationships with customers in a manner which, through professional communication of often uncomfortable messages, increases customer satisfaction and enhances Absa’s Brand.
3. Identify sales opportunities, progressing these in partnership with Relationship

Sanctioning – 10%

1. Responsible for the BS & R sanctioning as per the discretions held

Technical Skills/Competencies

1. Good credit risk skills
2. Good relationship management skills
3. Strong analytical and numerical skills
4. Strong communication and report writing skills
5. Good knowledge of Microsoft Excel and other spreadsheet/database applications
6. Strong planning, coordination and time management skills.
7. Knowledge and Expertise

Preferred

1. Experience of both corporate relationship management and credit risk analysis
2. Experience of dealing with senior management of corporate entities
3. Strong negotiation skills
4. Detailed understanding of policies for provisions / NAD / write offs.
5. Good knowledge of the local legal system, insolvency law and security issues, and the options available to the Bank.

Essential

1. Good understanding of the role of Business Support and Corporate Recoveries in Africa
2. Previous experience of relationship management of corporate customers
3. Previous experience of credit risk analysis and/or sanctioning
4. Experience of working under pressure and with very little supervision

Experience and Qualifications

Essential

1. Sound banking experience
2. Good knowledge of corporate finance and insolvency laws

Preferred

1. Graduate and/or Professional Banking qualifications (e.g. ACIB,ATIOB)
2. Key issues over the next 12 months
3. Working to achieve releases of provisions to bring Absa Kenya provisions within budget
4. Reducing average case life to be within set targets
5. Increasing the rate of recoveries to achieve set targets
6. Reach accredited status required for the role within 12 months
7. Ensuring adherence to process and procedures to ensure a good report from impending GIA audit visit.
8. Additional details of exceptional aspects of the demands of the role

The individual must be a self starter and be able to diagnose and solve problems.  The role will require working under very minimal supervision and the use of a great deal of initiative.  The role holder must be aware of the various options available to the bank in the process of recovering debts.  Previous knowledge of debt recovery will be a distinct advantage

Education

1. Higher Diplomas: Business, Commerce and Management Studies (Required)

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Job Summary

To implement the NBFI Markets sales strategy according to the Director Market Sales and the Absa Market Sales Strategy and Policies & Procedures, and in line with Group Values.

Knowledge, Expertise and Experience

Essential

• Knowledge of Market products
• Knowledge of Sales Techniques
• Understanding of interest rate and foreign exchange markets
• Understanding of the mathematic of pricing for FX and Money Markets
• Understanding of interest rate risk, foreign exchange risk and credit risk
• Understanding of the policies, procedures and ethical requirements of a Market environment
• Understanding of Market back office operations
• Communication skills
• Strong understanding of the Kenyan and Global Foreign Currency Markets.
• Strong understanding of foreign currency portfolio management.
• Strong product management capabilities.
• Highly developed analytical skills, problem solving and planning abilities
• Communication skills both written and oral.
• Strong numerical and analytical skills for calculation of statistics, figures and targets and understanding of product profit drivers
• Strong team player, innovative- sell new ideas, build and maintain key relationships and with the ability to influence
• Self-motivated and results orientated
• Strong business awareness
• Ability to work under minimal supervision and deliver under tight deadlines
• Excellent Stakeholder management

Preferred

• Understanding of Risk Management Products across the various asset classes
• Understanding of political and economic activity and the impacts on exchange rates and interest rates
• Understanding of industry, advisory, regulatory and professional bodies
• Knowledge of Absa products and systems that support them, and a good understanding of Absa Group products
• Knowledge of Absa Governance processes

Experience and Qualifications

Essential

• Bachelors Degree

Preferred

• ACI Dealing Certificate

KEY ISSUES FOR THE ROLE OVER THE NEXT 12-24 MONTHS – COUNTRY SPECIFIC

• Grow number of Customer Dealing through both new to Bank and Re- Activations
• Aim to maximize value of existing clients
• Assist in the growth the Risk Management Product (RMP) book
• Look for Elephant Deal opportunities

Responsibilities

Job Description

Main accountabilities and approximate time split

Accountability: Markets Sales Dealing - 80%

Key actions to include:

• Under the guidance of the Director, Market Sales actively participating in the implementation of the NBFI Markets Sales Strategy in line with the Absa Market Sales Strategy and Country sales requirements.
• Acting as the primary point of contact for NBFI Markets sector (Asset managers, Pension funds, Insurance companies ,Hedge funds and Stockbrokers) while ensuring regular face-to-face engagement with the respective teams to promote teamwork.
• Manage one’s client portfolio, to include:
• Daily contact with clients who have completed the Terms of Business (TOB)
• Regular face-to-face interaction with clients in one’s portfolio
• Regular contact with principle Relationship Manager
• Managing one’s allocated client portfolio and support the team in the management of the other client portfolios where needed
• Under the direction of the Director Market sales achieving a leading position in the chosen products, markets and segments by:
  • Spending at least 50% of one’s time meeting with existing and identified new clients.
  • Drive Money Market Sales revenue – Vanilla (Eurobonds) and Structured MM (CLDs, loan distribution).
  • FX origination – both flow and structured for NBFI sector.
  • Giving superior customer service
  • Presenting the full Absa product set to clients whilst managing the product portfolio to suit client needs
  • Expanding the customer base to financial institutions and investors as is appropriate
  • Undertaking customer visits and joint customer visits with the NBFI coverage team.
  • Actively participating in client events with Absa Capital Economics unit and Corporate, including training and seminars, and Entertaining clients as permitted under the bank and group compliance policies
• Managing one’s client portfolio to generate strong growth and sustainable returns over the business cycle with special focus on Customer Service and Financial Performance
• Ensure that Counterparty credit limits are not exceeded.
• Assisting the Director Market sales in achieving strategic and tactical objectives.

Accountability: Reporting - 5%

Key actions to include:

• Providing weekly reporting on client growth, volume and profitability in one’s own portfolio
• Providing detailed Management Information to the Director, Market sales on the composition, performance and profitability of the client portfolios on a monthly basis
• Assisting the Director Market sales with any ad-hoc reporting requests

Accountability: Personal Development - 5%

Key actions to include:

• Actively managing one’s own technical and soft skills development in conjunction with the Director, Market sales.
• Researching, identifying and proposing training solutions for own development to the Director, Market sales.

Accountability: Risk Management - 10%

Key actions to include:

• Maintaining a strong compliance culture.
• Adhering to all the policies and procedures of the bank.
• Ensuring that all deals are dealt within dealer limits (market risk limits, counterparty limits, dealer’s mandate)
• Ensuring high quality of service to all clients (reputational risk).

Accountability: Risk and Control Objective

“Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Absa Policies and Policy Standards. Understand and manage risks and risk events (incidents) relevant to the role.