Bancassurance Officer Job at Ecobank

Ecobank

Bancassurance Officer Job Post

Location: Jobs in Uganda 2023 - 2024

Work Hours: Full-time, 08 hours per day

Salary: UGX

No. of vacancies: 01

Deadline: March 12 2024

Hiring Organization: Ecobank

Job Details:

Job Description
Outputs and measures
Administration, Reporting and customer service.
• Compiling statutory records and reports which comply with the requirements of the Anti-Money Laundering Act, The Banking Act, The Insurance Act, and other relevant legislation as amended from time to time, are prepared and submitted.
• To achieve agreed TCF deliverables in terms of specific business areas and role levels: Be fair; Meet the need; Communicate; The right fit; Your word, your honour; Make it easy
• Ensure appropriate administrative functions are being fulfilled within the Business e.g.:
o Cover is being placed and debit notes raised
o System capabilities are in place and effectively utilized
o Ensure the business is delivering excellent claims experience.
o Responsible to ensure premiums are being collected
o GLs are being reconciled and payment being made to insurers on time supported by accurate supporting documents
o Responsible to ensure that all commissions due are received
• Reviews and ensured that all Bancassurance GL reconciliations are being conducted and signs off payment to insurers and revenues are being posted to the P&L.
• Facilitates the negotiation of claims disputes to insure world class customer experience.
• Provides analysis and Insights into trends and recommendations for improving operational performance and profitability.
• Ensures sales and penetration targets into new and existing CSB, CMB bank base products are being tracked and communicated to all stakeholders.
• Monitors outstanding premiums and provides recommendations for improving collection rates and reducing lapse rates
• Performs a liaison role between the Customer, and all other internal support divisions of the Bank.
• Manage and report on the effectiveness of SLA arrangements with insurers and other service providers
• Ensure process and system changes are implemented in time and correctly
• Ensure all the reporting requirements of the business are done correctly in time (including monthly MIS reports)
• Manage, influence and coordinate the activities of all systems teams that support the business to ensure the set TAT are met
1. Measures:
• Customer service (NPS) scores of Bancassurance are within agreed levels
• Supporting growth in bancassurance sales and penetration
• Retention rates are within agreed levels
• Develop and implement appropriate Controls and business processes and procedures to reduce risk while ensuring maximum efficiency and effectiveness.
• Reduce revenue leakage by attending to premium and commission collection monthly
• Ensure that communication is conducted timeously with regard to new business, renewals amendments, unpaid and cancellations.
1.
Sales and Channel support
• Ensure appropriate processes and systems are in place to efficiently deliver on the business unit strategy
• Provides reporting on sales and channel performance to senior management, Branch managers and reporting into the Consumer Banking reports.
• Analyses insurance sales and conversion rates per product and segment in order to provide insights to improve sales and channel effectiveness
• Monitor customer complaints, identify trends and root causes and address at source to prevent reoccurrence
• Ensure efficient customer orientation, email, mobile and telephone procedures
1. Measures:
• Customer Complaints
• Customer service standards are set and met
• Operational efficiencies
• Improved TAT’s in line with SLA’s
• Growth in NFR
• Growth in customer retention
• Satisfied and well-informed customers (changes to cover, rates, regulatory etc.)
• Take appropriate action on Multi Claimants
• Ensure that communication is conducted timeously with regard to new business, renewals, amendments, unpaids and cancellations

Compliance and legislation
• Ensure proper record keeping in terms of Insurance regulations
• Ensure proper record keeping in terms of Banking regulations
• Ensure proper record keeping in terms of underwriter agreements
• Ensures that the business is adhering to all Operational risk control requirements
• Ongoing development and improvement of business processes and procedures
• Ensures agreed business processes and procedures are being followed.
• Ensure that all areas under control adhere to laid-down instructions in the Bancassurance Operations Manual
• Ensure maintenance of an effective control structure
• Feed into the monthly BURC with updates on the overall bancassurance risk environment
1. Measures:
• Satisfactory audit reports
• Satisfactory Operational risk control assessments
• Exception reports are actioned appropriately