Bancassurance Manager
Full time @Old Mutual posted 3 days ago in Finance Shortlist Email JobJob Detail
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Job ID 20804
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Career Level Officer
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Experience 3 Years
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Gender Both
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Industry Administration
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Qualifications Degree Bachelor
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Job Type Full time
Job Description
Job Description
To lead and manage the strategic and operational activities in the Bancassurance division of Old Mutual Insurance (U) Ltd to ensure the company achieves its corporate goals in terms of growth, profitability and customer services
KEY RESPONSIBILITIES
- Oversee Bancassurance Strategy, budgets and Direction.
- Deliver premium growth, profitability, and market share targets through bank partnerships.
- Identify new bancassurance opportunities (new bank partnerships, product innovation, customer segments).
- Drive cross-selling and up-selling initiatives within bank customer bases.
- Build and maintain strong relationships with bank partners at executive, regional, and branch levels.
- Act as the primary liaison between Old Mutual and partner banks.
- Negotiate and manage Service Level Agreements (SLAs) and partnership contracts.
- Ensure alignment of bank and Old Mutuals objectives for mutual growth.
- Provides advice on potential products and services to ensure that the company responds to business opportunities adequately and on a timely basis
- Sets up clear targets for sales and confronting poor performance when identified to ensure maximum productivity as well as motivating staff
- Build a successful Bancassurance team to enhance performance including conducting coaching
- Train and coach bank staff on insurance products, sales techniques, and compliance.
- Collaborate with underwriting and product teams to design tailored general and medical insurance products for bank customers.
- Conducts joint-field work with Branch Relationship Managers, if necessary, to support their endeavours in bringing in business
- Ensure seamless onboarding, policy issuance, and claims processes for bancassurance customers.
- Monitor customer satisfaction and implement improvements.
- Address escalations from bank partners and customers promptly.
- Setting up systems to track and monitoring work in progress and business production.
ANTI-MONEY LAUNDERING (AML) EXPECTATION
The incumbent will be responsible for ensuring adherence to, implementation of, and adoption of Compliance, Anti-Money Laundering (AML), and Sanctions-related policies, procedures, and process requirements within Old Mutual and its subsidiaries. This includes execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality. Additionally, the role involves identifying and monitoring potential AML, Sanctions, or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action.
SKILLS AND COMPETENCIES.
- Strategic focus
- Strong leadership skills
- Excellent Communication & Influencing Skills
- Innovative
- Builds and maintains strong business relationships
- Analytical Skills
- Takes initiative
- Very good collaborator and problem solver
QUALIFICATIONS AND EXPERIENCE
Education:
- Bachelor’s Degree
- Diploma in Insurance is an added advantage
- Bank and Insurance sales & Marketing is an added advantage
Experience:
3-5 years’ work experience in Sales & Marketing with at least 2 years as a supervisor.
Skills
Business, Business Opportunities, Business Relationships, Collaboration, Communication, Contract Agreements, Customer Satisfaction, Insurance Sales, Leadership, Marketing, Sales
Competencies
Communicates Effectively
Cultivates Innovation
Decision Quality
Ensures Accountability
Manages Complexity
Plans and Aligns
Situational Adaptability
Tech Savvy
Education
Bachelors Degree (B): Business, Bachelors Degree (B): Finance
Closing Date
25 May 2026 , 23:59
The Old Mutual Story!
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