Stanbic IBTC Insurance Brokers Limited Business Development Executives Jobs Vacancies in Nigeria

Stanbic
IBTC Insurance Brokers Limited (SIIB) provides solution-based risk management
and insurance intermediary services aimed at the total satisfaction of our
clients and other interested business establishments. We also deliver creative
risk management solutions that enable our client’s create, protect and preserve
wealth.

We
are recruiting to fill the position below:

Job
Title: Business
Development Executive
Job ID:
24908
Location:
Lagos Island
Job Sector:
Financial Services

Job
Purpose

To grow and develop insurance income for SIIB and deliver profitable
revenue streams from within and outside of the Stanbic IBTC Group.
Ensure effective cross sell of
insurance products and services across all major product lines.
Execution of the regional sales
strategy to achieve all revenue goals and targets through engagement with
both external and internal stakeholders.
Expansion of the Stanbic IBTC
Group business through identification of revenue opportunities and
harnessing of this revenue streams.

Key
Responsibilities/Accountabilities
Achieve Monthly Sales Target of Insurance Brokerage Commission:

Achieve and surpass assigned
monthly Insurance brokerage commission target
Achieve and surpass assigned
monthly/yearly insurance policy target
Achieve and surpass assigned
new customer acquisition for both personal and business lines
Identify, initiate and convert
leads for SIIBL
Grow SIIBL wallet share of
customer’s insurance portfolio by harnessing and upselling insurance
products.
Provide advice to corporate
clients on managing and transferring risk using insurance solutions
Ensure penetration into
Customers own insurance arrangements by harvesting the Banks client base
in CIB, PBB and Wealth thereby reducing leakage of potential revenue.
Operate within the NAICOM
guidelines and framework so as to avoid sanctions or infractions to the
Company.
Make physical / telephone calls
/ e-mails to clients for customer interactions
Organize and facilitate
Interactive sessions
Effectively communicate and follow
through, with client requests to Technical Operations /support units
Maintain and update
comprehensive customer database.
Ensure Client Control files are
maintained for all Corporate customers
Consistently identify value to
our customers by leveraging the various resources within the group
Grow SIIBL’s share of mind
among clients/ organizations in assigned institutions
Proffer possible
strategies/ways to improve sales and relating to customers.
Identify key insurance
opportunities outside of the Stanbic IBTC Bank network and across the
country and appropriately position SIIBL to capture the business and
revenue streams
Grow the SIIB business within
the region through regular engagement with prospective clients within and
outside of the Group.

Customer Service Quality and Efficiency:

Ensure sales, renewal, premium
payment, policy issuing and claims processes for all insurance products
and services are adhered to.
Ensure accurate recording of
both insurance direct sale and cross sell revenue and sales per product or
service.
Provide excellent service to
existing policy holders and ensure clients are notified before insurance
policies expires
Ensure all policies and
products are competitive and remain competitive by conducting ongoing
market and competitive analysis

Ensure
Legislative Compliance and SIBTC Standards:

Operate within the NAICOM
guidelines and framework so as to avoid sanctions or infractions to the
Company
Educate and enlighten clients
employers about the dynamics of the Insurance industry
Continuously monitor market
trends in the insurance industry, including the regulatory and legal
framework, with a view to assessing the possible impact on the insurance
brokerage

Internal
Relationships:

Maintain close contact with all
internal stakeholders within Wealth – Benefit Administration,
Administration, Contribution & Collections, Investment Management,
Information Technology, Client Services, Client Experience, SIIB, SIAML,
SITL and across all segments and leverage off their deals that might have insurance
content.

External
Relationships:

Liaise with Regulator on
product development
Maintain continuous discussion
with external counterparties specifically insurance companies where
required

Preferred
Qualification and Experience

Minimum of a First Degree in
General Social Science/Marketing
A relevant Master’s Degree or
professional qualifications will be an added advantage
Minimum of 3 – 5 years
experience with exposure in business development, sales and relationship
management, sale of insurance products in an insurance company

Knowledge/Technical
Skills/Expertise:

Insurance Technical
Competencies
Understanding of the basic
principles of insurance including good faith, insurable interest,
indemnity, contribution, subrogation and proximate cause.
Knowledge and understanding of
the range of insurance products and services available in the market and
how that can be used to meet clients needs.
Knowledge and understanding of
the information gathering process, the factors that affect the accepting
and underwriting of risks and how these are applied on a day-to-day basis.

Effective Business Communication:

The ability to communicate
information and ideas in a clear and concise manner appropriate for the
audience in order to explain, persuade, convince and influence others to
achieve the desired outcomes..

Presentation
Skills:

The ability to
communicate and deliver information verbally in a clear, concise and
comprehensive manner to other people, using appropriate props and tools.

Compliance
(KYC etc):

Knowledge and practical
application of the requirements for KYC Compliance including the
determination of beneficial ownership in complex client corporate
structures., The ability to interpret regulations and laws that apply to
the business and to provide information to business on how to comply e.g.
Insurance Act 2003.

Brand
Management:

The ability to use
marketing techniques to increase the perceived value of the organisation
over time and build customer loyalty through positive brand awareness.

Customer
Understanding: