Business Development Manager - Bancassurance Job at Barclays Bank

Job Purpose

The purpose for this role is to have a dedicated resource with the appropriate skills and knowledge to support the Bancassuarance strategy in CIB segment of the bank

Responsible to Head of bancassurance with general management, renewals management, premium collection and relationship management ability

Role will involve enhancing Insurance business development through effective renewals management, ensuring all new business is written via BBIAL and insurance cross sales from CIB clients

Main accountabilities and approximate time split

Business Development/Management

50%:

• Responsible for the achievement of the CIB Bancassurance revenue targets
• Support the CIB team of RMs to ensure that all insurance renewals are done on time, and through the BBIAL
• Support the CIB team of RMs to ensure that all NTB insurance requirements are sourced and placed with the approved underwriters, preferably FA or any other approved underwriter through the BBIAL
• Work with the Trade Finance team to ensure that all LC customers are provided with marine cover through BBIAL
• Joint customer visits with RMs to understand insurance needs and tailor customer led cost effective proposals to meet those needs
• Attend CIB Mancom to report on insurance uptake progress and enlist support
• Weekly, monthly and quarterly performance tracking
• Sales activations and customer sensitization(quarterly) in partnership with partners to increase uptake e.g. breakfasts, cocktails etc. (customer sensitization)
• Relationship management with insurance partners for effective service delivery
• Responsible for customer complaints management within CIB segment
• Responsible for claims processing and management within the TATs stated
• Leading and managing the planning of annual business targets/ objective with each Relationship manager and ensuring that they are achieved through a regular process of monitoring and evaluation of results.
• Manage renewals with sales teams to ensure 80% renewals target is met.
• Responsible for the appropriate allocation of resources to approved field activations
• Obtain Approval of all sales related expenses
• Field activity by accompanying relationship managers to presentations
• Dashboard management with relevant MI teams to confirm accuracy of management reports on sales activities
• Own budgets distribution with insurer partners and ensure they are met as agreed
• Set up Bi-weekly business review meetings with Insurance partners to discuss budget achievement and product uptake
• Identify product needs and develop solutions in liaison with various insurer partners/Underwriters by sales teams.
• Identifying cross and up sale opportunities and track performance
• Develop training budgets, programmes as per needs identified
• Develop, implement and track sales incentive programmes
• Work with the Head of bancassurance to ensure strategy deliverables are properly documented and monitored.
• Take and distribute minutes from Team meetings as and when meetings take place and ensure action items are closed.
• Ensure all documentation is correctly completed, collected and submitted as per procedure manuals and SLA’s

Rigor/compliance

10%:

• Ensure all regulatory requirements are met by ensuring compliance to the insurance act and SLA’s
• Ensures review and escalation if required, of Sales administrative issues.
• Responsible for compliance with business procedure manuals
• Ensuring all claims are reported, tracked and resolved as per SLA by Head office
• Ensure compliance with Snap checks process and internal audit
• Ensure all drawn facilities have adequate cover written via BBIAL

People Management

25%:

• Managing relationships with CIB staff to drive business
• Dealing with outlets ,operations centre to ensure full understanding of the insurance process & procedures
• Motivation of relationship managers through agreed programmes
• Coaching of Stakeholders to achieve business goals
• Providing general support to the CIB team as and when required
• Work with Branch managers to ensure that branch staff own and manage customer queries and complaints by taking ownership and resolving in a timely manner.

Premium Collection

And policy administration.

15%:

• Ensure all premium is collected from all sales as per laid down procedures in accordance with the insurance Act and SLA’s with partner insurers
• Provide management reports on premium collection status of all sales done on a weekly basis
• Manage all aspects of premium refunds raised by sales teams
• Ensure all premium is receipted as received with partner insurer in liaison with Head office- Bancassurance teams

Technical skills / Competencies

• Excellent underwriting skills and insurance product knowledge
• A learning mind-set 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
• Effective negotiating skills to secure both internal and external resources and deal with external service providers
• Able to adopt and/or coach the use of a variety of methods to keep work streams on schedule and within budget
• Knowledge of cost centre/budget management.
• Quality, high standards and controls
• Passionate Drive for results
• Service Excellence
• Planning and Organising
• Good understanding of insurance processes
• Understanding of project management principles
• Implementing processes
• Accuracy and attention to detail
• Problem Solving skill
• Technological understanding (tools – Microsoft Office, etc)
• Time Management
• Communication skill

Essential

Knowledge, Expertise and Experience & Qualifications

• A Business related Degree from a recognized university.
• COP qualification, Diploma in Insurance, LOMA or progress in ACII qualification
• Exposure to Corporate business and strong relationship management skills
• Knowledge of insurance business (claims management & underwriting), products and processes.
• Presentation skills and expertise in proposals presentation experience
• Exposure to governance, control and risk management
• Proven ability to effectively work across teams

Preferred

• Middle to Large Broker/Underwriter experience in dealing with Corporate insurances and relationships

Barclays Guiding Principles

Approvals

The guiding principles provides a framework for how we in Barclays work together and how we serve our customers and the communities we are in

• Respect
• Integrity
• Service
• Excellence
• Stewardship