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ROLE RESPONSIBILITIES

Strategic Leadership

•  Develop and implement the Bancassurance transformation strategy from agency to brokerage model.
•  Define the business model, value proposition, and operational framework for brokerage services.
• Align Bancassurance strategy with the overall bank’s strategic and customer-centric goals.

Business Case Execution

• Operationalize the approved business case, including timelines, budgets, resource plans, and risk management.
• Lead systems integration, process redesign, and compliance alignment for brokerage operations.
• Develop and monitor implementation KPIs and manage change management activities.

Product & Partnership Development

•  Establish and manage relationships with multiple insurance providers for diversified product offerings.
• Lead negotiations on brokerage agreements and revenue-sharing arrangements.
• Oversee product design, pricing, and compliance with the brokerage model.

Distribution & Sales Enablement

• Drive training, enablement, and certification of internal sales teams to act as insurance brokers.
• Design and embed multi-channel distribution strategies across branches, digital platforms, and contact centres.
• Introduce tools, scripts, and CRM mechanisms for insurance advisory and sales.

Compliance & Risk Management

• Ensure full regulatory compliance with local insurance and financial services laws (e.g., licensing, disclosures, TCF principles).
• Implement robust governance frameworks for insurance brokerage activities.
• Ensure operational and conduct risk management throughout the transition.

Financial Management

•  Develop and monitor annual budget and revenue targets for the Bancassurance function.
• Track and report on sales, margins, customer retention, and commission income.
• Drive profitability and efficiency through data-driven decision making.

Team Leadership

• Recruit, develop and manage a high-performing Bancassurance team.
• Build a culture of accountability, customer centricity, innovation, and continuous learning.

COMPETENCIES 

• Strategic Thinking: Ability to translate business goals into executable plans.
• Insurance Expertise: Deep understanding of insurance brokerage and agency models.
• Change Management: Leading large-scale transformation and cultural shifts.
• Business Acumen: Strong financial literacy and commercial judgment.
• Relationship Management: Managing insurer and internal stakeholder expectations.
• Regulatory Compliance: Interpreting and applying insurance regulations effectively.
• Data-Driven Decision Making: Use of data and insights to optimize products and strategy.

QUALIFICATIONS

• Bachelor’s degree in Business, Finance, Insurance, or related field.
• MBA or Master’s in Strategic Management / Finance (preferred).
• Professional certification in insurance (e.g. COP, CII, LOMA).
•  Licensing as per national insurance regulatory requirements (e.g., broker or intermediary license).

EXPERIENCE

• Minimum 10 years’ experience in financial services, with at least 5 years in Bancassurance or Insurance brokerage leadership roles.
• Proven experience in transitioning or building an insurance distribution model (preferably from agency to brokerage).
• Experience managing insurer partnerships and multi-channel distribution.
• Strong background in insurance regulation, compliance, and digital transformation.

 

 

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