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Jubilee Insurance was established in August 1937, as the first locally incorporated Insurance Company based in Mombasa in 1937. Jubilee Insurance has spread its sphere of influence throughout the region to become the largest Composite insurer in East Africa, handling Life, Pensions, general and Medical insurance.
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Job Ref. No: JLIL196
Role Purpose
The job holder will be responsible for building, maintaining and growing Bancassurance relationships and increase revenue by delivering a world class customer service in a very pro-active manner. The role holder must meet the set retention target, increase portfolio profitability and grow the portfolio through upselling of benefits, proper loading, and claims control.
Main duties and responsibilities:
Strategy
- Bancassurance Strategy Execution: Execute the Bancassurance strategy in alignment with the company's overall business objectives. Identify potential partner banks and financial institutions to expand the distribution network.
- Process Improvement: Continuously assess and improve bancassurance processes to enhance efficiency, accuracy, and overall customer experience. Identify opportunities for automation, digitization, and streamlining of bancassurance activities.
- Operational Excellence: Drive operational excellence within bancassurance processes by setting clear goals and performance metrics, monitoring performance, and implementing improvement initiatives to achieve service level agreements and operational targets.
- Technology and Systems: Collaborate with IT and operations teams to assess, select, and implement appropriate technology solutions for the bancassurance. Leverage digital tools, policy administration systems, and workflow automation to optimize processes and enhance productivity.
- Data Analysis and Reporting: Analyse bancassurance sales data to identify trends, patterns, and opportunities for process improvements or cost savings. Generate regular reports and provide insights to management regarding key performance indicators, operational metrics, and potential areas for improvement.
- Customer Needs Analysis: Conduct thorough customer needs analysis to understand clients' financial goals and risk profiles. Recommend suitable life insurance solutions based on their requirements.
Operational
- Bancassurance Partnerships: Establish and manage strategic partnerships with banks and financial institutions to promote life insurance products. Negotiate and finalize partnership agreements to maximize business opportunities.
- Sales and Revenue Generation: Drive life insurance sales through the bancassurance channel. Set ambitious sales targets, develop sales plans, and lead the team to achieve business growth and revenue goals.
- Market Intelligence: Monitor market trends, competitor offerings, and customer preferences in the bancassurance sector. Utilize market intelligence to identify growth opportunities and challenges.
- Product and Sales Training: Coordinate with product development and training teams to equip bank staff with the necessary knowledge and skills to effectively promote life insurance products.
- Sales Reporting and Analysis: Prepare regular sales reports, track key performance indicators (KPIs), and provide insights to senior management. Utilize data-driven analysis to inform strategic decisions.
- Customer Experience Focus: Ensure a customer-centric approach across all bancassurance interactions. Work to enhance the customer experience and address customer feedback and concerns promptly.
- Regulatory Compliance: Ensure all bancassurance operations are in compliance with insurance regulations and legal requirements.
- Proactively manage allocated bancassurance retail portfolio by meeting your retention targets, maintaining, increasing premium & lives volume through organic growth and by selling additional benefits and enhancements.
- Bancassurance Partnership Management: Cultivate and manage productive partnerships with partner banks and financial institutions. Develop a deep understanding of their business models, sales processes, and customer segments. Provide a dedicated and comprehensive service to Bancassurance intermediaries/clients, always acting as the primary point of contact between Client/Bank and JLIL and deliver the highest level of customer care to meet and exceed expectations.
- Life Insurance Sales: Promote life insurance products and services to bank clients. Leverage the bank's customer base and referral network to generate leads and close life insurance sales.
- Implement Customer service journeys and put in place an annual customer touch point for each client and ensure that this is adhered to, and records maintained.
Compliance
- Adhere to regulatory requirements and internal policies, ensuring compliance in all aspects of insurance servicing.
- Implement and uphold robust data protection and privacy practices, safeguarding customer information and ensuring confidentiality.
- Participate in audits and internal control assessments, addressing any identified gaps or issues promptly.
- Compliance: Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
- Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
- Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.
Leadership and People
- Building the team capabilities and ensuring adequate succession planning within the department
- Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
- Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
- Individualized Development Planning: Create personalized development plans that align with your career aspirations and the organization's objectives.
- Conduct regular performance evaluations, set goals, and provide constructive feedback to team members.
Key Competencies
- Strategic thinking and business acumen for identifying growth opportunities.
- Excellent communication and negotiation abilities.
- Sales-driven and target-oriented mindset.
- Customer-centric approach and empathy.
- Financial acumen and understanding of life insurance products.
- Excellent data skills, Report writing and Presentational skills.
- Excellent leadership and team management skills to lead the bancassurance team.
- Strong relationship-building and negotiation abilities for managing external partnerships.
- Analytical mindset for data-driven decision-making and performance evaluation.
- Customer-centric approach, focusing on enhancing customer experiences.
Qualifications
- Bachelor’s degree in Insurance, Finance, Business or any other related course
- Diploma in Insurance
- TDPK,LOMA/CII/IIK Qualification
Relevant Experience
- Minimum 6-8 years’ experience in a similar role
- Proven track record in sales and relationship management, preferably in the bancassurance or insurance sector.
- Proven track record of successfully implementing strategic initiatives and driving process improvements.
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Job Ref. No: JLIL195
Role Purpose
The role holder is responsible for managing a team that ensures the conservation of existing business and delivers superior services to retirement benefits business clients. This role focuses on maintaining full compliance with established procedures and guidelines as outlined in the operations manuals.
Main duties and responsibilities:
Strategy
- With the guidance of the Head of Department, oversee the implementation of strategies to conserve existing business within the retirement benefits segment.
- Identify opportunities for business growth, market expansion, and product/service enhancements in the pension administration segment. Monitor key performance indicators and metrics to assess business performance and identify areas for improvement.
- Conduct market research and analysis to identify emerging trends, competitive landscape, and customer needs, influencing strategic decision-making.
- Conduct financial analysis, identify cost-saving opportunities, and recommend strategies to improve profitability and operational efficiency. Work with internal teams to implement system enhancements and automation.
Operational
- Business Growth: Manage the conservation of existing business and offering alternative products to existing clients e.g., annuity, cross sell and following up/providing leads for new business.
- Manage the administration of retirement benefits plans for corporate clients.
- Ensure accurate record-keeping of participant data, contributions, and benefit calculations.
- Ensure superior service delivery, addressing client inquiries, concerns, and requests promptly and effectively.
- Monitor client satisfaction levels and implement measures to enhance client experience.
- Maintain up-to-date records and handle all necessary documentation.
- Provide exceptional customer service to retirement benefits business clients.
- Address inquiries and resolve issues related to retirement plans promptly.
- Assist clients with plan updates, changes, and participant communications.
- Educate clients on plan features, compliance requirements, and industry best practices.
- Streamline administrative processes to minimize errors and maximize productivity.
- Statistical Analysis & Returns: Preparing summary/ statistical reports of the Retirement Benefits schemes.
- Also preparing returns in respect of the Retirement Benefits schemes as assigned for submission within the timelines provided. Monitor key performance indicators and implement measures to achieve targets.
- Generate reports and provide timely and accurate information to clients.
- Collaborate with internal stakeholders to meet reporting obligations.
Compliance
- Adhere to regulatory requirements and internal policies, ensuring compliance in all aspects of insurance servicing.
- Implement and uphold robust data protection and privacy practices, safeguarding customer information and ensuring confidentiality.
- Participate in audits and internal control assessments, addressing any identified gaps or issues promptly.
- Compliance: Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
- Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
- Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.
Leadership and People
- Building the team capabilities and ensuring adequate succession planning within the department
- Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment.
- Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
- Individualized Development Planning: Create personalized development plans that align with your career aspirations and the organization's objectives.
- Conduct regular performance evaluations, set goals, and provide constructive feedback to team members.
Key Competencies
- Attention to detail and accuracy in retirement plan administration.
- Strong customer service and relationship management skills.
- Knowledge of retirement benefits regulations and compliance requirements.
- Analytical and problem-solving abilities to resolve complex issues.
- Excellent organizational and time management skills.
- Strong communication and interpersonal skills.
Qualifications
- Bachelor’s degree in Insurance, Finance, Business or any other related course
- Diploma in Insurance
- TDPK,LOMA/CII/IIK Qualification
Relevant Experience
- Minimum 4-6 years’ experience in a similar role
- In-depth understanding of retirement benefits plans and their administration.
- Proficiency in retirement plan enrollment, contributions, and benefit calculations.
- In depth knowledge of regulatory requirements and compliance standards in the pension industry.
- Familiarity with retirement plan record-keeping systems and software.
- Strong data analysis and reporting skills
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Job Ref. No: JLIL194
Role Purpose
The role holder is responsible for leading and driving business growth initiatives, identifying new opportunities, and fostering client relationships within the retail life and pensions sector. This role focuses on managing a team of business development officers, achieving business development targets, and contributing to the overall growth and success of the organization.
Main Responsibilities
Strategic
- Develop and implement a strategic business development plan to expand the organization's market presence within the retail pensions sector.
- Identify and evaluate new business opportunities, including potential partnerships, mergers, or acquisitions to enhance the organization's capabilities and market positioning.
- Conduct market analysis and stay updated on industry trends, competitor activities, and regulatory changes to identify strategic opportunities and potential risks.
- Collaborate with senior management to set strategic goals and targets for the business development team, aligning them with the organization's overall business objectives.
- Monitor industry developments, regulatory changes, and emerging trends affecting retail life and pensions.
- Provide insights and recommendations to senior management on product development, pricing strategies, and market positioning.
Operational
- Marketing & Branding:
- Provide training, support, and marketing materials to intermediaries to promote the organization's retail pensions products and services.
- Client Acquisition and Relationship Management:
- Identify and engage potential clients within the retail pensions sector, leveraging existing networks and developing new leads.
- Build and maintain strong relationships with key clients, understanding their needs and providing tailored solutions.
- Oversee the development of client presentations, negotiations, and proposal development to secure new business opportunities.
- Collaborate with the team to ensure effective client onboarding and seamless handover to the account management team.
- Business Growth and Revenue Generation:
- Develop and execute strategies to achieve business development targets and revenue growth.
- Identify cross-selling and upselling opportunities within existing client portfolios.
- Collaborate with product development teams to identify and develop new offerings that align with client needs.
- Monitor sales performance, track progress against targets, and provide regular reports to senior management.
- Relationship Management with Intermediaries and Partners:
- Develop and maintain relationships with intermediaries, brokers, and strategic partners.
- Collaborate with intermediaries to identify joint business opportunities and develop mutually beneficial partnerships.
Corporate Governance
- Adhere to regulatory requirements and internal policies, ensuring compliance in all aspects.
- Implement and uphold robust data protection and privacy practices, safeguarding customer information and ensuring confidentiality.
- Participate in audits and internal control assessments, addressing any identified gaps or issues promptly.
- Compliance: Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
- Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
Leadership & Culture
- Lead and manage a team of business development officers, providing guidance, coaching, and performance feedback.
- Fostering a corporate culture that promotes ethical practices and good retail citizenship while maintaining a conducive work environment.
- Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
- Individualized Development Planning: Create personalized development plans that align with your career aspirations and the organization's objectives.
- Monitor team performance, track progress against targets, and provide regular reports to senior management.
Key Competencies
- Business Development Acumen: Strong understanding of business development principles, strategies, and tactics within the retail life and pensions sector. Proven track record in identifying and converting new business opportunities.
- Relationship Building: Excellent interpersonal skills to build and maintain strong relationships with clients, intermediaries, and strategic partners.
- Strategic Thinking: A strategic mindset with the ability to analyse market trends, competitor activities, and regulatory changes to identify strategic business opportunities and risks.
- Market Research and Analysis: Proficiency in conducting market research and analysis to identify target markets, customer segments, and industry trends.
- Excellent verbal and written communication skills, including the ability to deliver compelling presentations, negotiate contracts, and articulate complex concepts to clients and stakeholders.
- Results Orientation: A results-driven mindset with a focus on achieving business development targets and driving revenue growth.
- Financial Understanding: Sound financial knowledge, including an understanding of retail life and pensions products, pricing strategies, and financial metrics.
Qualifications
- Bachelor’s degree in Insurance, Finance, Business, Marketing or any other related course
- Diploma in Insurance
- LOMA/CII/IIK Qualification
- Masters’ will be an added advantage.
Relevant Experience
- Minimum 6-7 years’ experience in a similar role, with 2 years in a leadership role.
- In-depth knowledge of retail life and pensions products, policies, and regulations.
- Proven track record of successfully implementing strategic initiatives and driving process improvements.
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Job Ref. No: JLIL193
Role Purpose
The Portfolio Manager is responsible for executing the Company’s Investment Strategy in consultation with the Investment Committee and the CFO. They will also oversee and manage investment portfolios for a variety of clients, ensuring that they are aligned with each client's investment objectives, risk tolerance, and time horizon. The Portfolio Manager will work closely with clients, financial advisors, and other professionals to develop and execute investment strategies that maximize returns while minimizing risk.193
Main duties and responsibilities:
Investment
- Develop and oversee the economic and investment research and report to the CFO.
- Responsible for developing portfolios and delivering investment returns exceeding pre-set benchmarks.
- Ensure timely and coordinated implementation of the Investment Committee decisions.
- Regularly monitor portfolios under management and recommend any rebalancing strategies to bring them in line with both agreed investment committee strategies and current client circumstances.
- Report in accordance with the CFA Institute GIPS Performance Reporting Standards.
- Conduct extensive research and analysis on potential investment opportunities, including fundamental analysis of financial statements, market trends, industry analysis, and competitor evaluations. Evaluate the risk-return characteristics of investments and assess their suitability for specific portfolios or strategies.
- Utilize financial models and quantitative techniques to forecast investment performance and assess potential risks.
- Stay updated with market developments, economic indicators, and regulatory changes that may impact investment decisions.
- Perform due diligence on investment opportunities, including conducting background checks, reviewing legal and regulatory documents, and assessing the credibility and financial strength of potential investment partners or issuers.
Reporting & Relationship Management
- Responsible for periodic reporting to clients while incorporating economic and market overviews, portfolio valuation, performance and strategy for the following quarter.
- Coordinate with other Departmental Heads to ensure timely and accurate reporting to regulators (CMA/ RBA) as per the regulations.
- Making presentations to Client Investment Committees/ Trustees/ Fund secretaries.
- Preparing strategy papers, investment recommendations and reports to the Board, CEO and Investment Committee.
- Actively manage relationships with brokers and other market participants.
Compliance
- Ensure compliance to statutory and regulatory requirements including Treating Customers Fairly, Data Protection and Anti Money Laundering. Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
- Adhere to regulatory requirements and internal policies, ensuring compliance in all aspects of insurance servicing.
- Implement and uphold robust data protection and privacy practices, safeguarding customer information and ensuring confidentiality.
- Participate in audits and internal control assessments, addressing any identified gaps or issues promptly.
- Compliance: Stay updated with insurance regulations and underwriting best practices to ensure compliance with industry standards
- Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
Leadership and People
- To provide the much-needed transformational leadership to meet and surpass the expectations of stakeholders.
- Building relevant departmental capacity to deliver on strategy by leading, guiding, directing, and evaluating the work of the team.
- Fostering a corporate culture that promotes ethical practices and good corporate citizenship while maintaining a conducive work environment for attracting, retaining, and motivating employees.
- Building the team and ensure adequate succession planning throughout the organization.
Key Competencies
- Strong analytical skills, including the ability to conduct in-depth research and analysis of potential investments.
- Excellent communication and interpersonal skills, with the ability to build and maintain strong relationships with clients and other professionals.
- Solid understanding of financial markets, investment principles, and portfolio management strategies.
- Ability to work independently and manage multiple priorities in a fast-paced environment.
- Strong leadership skills, with the ability to provide guidance and mentorship to junior investment professionals.
- Attention to detail and commitment to accuracy, with the ability to analyze complex data and identify trends and patterns.
- Strong problem-solving skills, with the ability to identify and address issues and challenges in a timely and effective manner.
Qualifications
- Bachelor's degree in finance, economics, or a related field.
- Master’s in Business Administration or its equivalent will be an advantage.
- CFA Charter holder or equivalent.
- Knowledge in investment reporting and corporate financial reporting.
- Knowledge of legislation governing Retirement Benefits, institutional and retail investments.
- Excellent computer skills, including proficiency in Excel, Bloomberg, and other financial analysis tools.
Relevant Experience
- Minimum of 5-7 years’ experience in managing investments.
- Track record of delivering superior investment returns
- Experience in managing funds on a local and/or regional basis will be an added advantage.
- Solid understanding of applicable laws and regulations related to investment management.
- Excellent computer skills, including proficiency in Excel, Bloomberg, and other financial analysis tools.
Method of Application
If you are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com quoting the Job Reference Number and Position by Sunday, 7th January 2024. Only shortlisted candidates will be contacted.
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