Head Sales/Marketing - Stanbic IBTC Insurance Brokers in Lagos, Nigeria

at Stanbic IBTC Bank

Banking / Financial Services
Minimum Qualification
Bachelor's Degree
Required Experience
3 - 5 years
Employment Type
Full Time
Male or Female
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Job Description

Position Description

Job purpose
• To grow and develop insurance income in the Bank and deliver profitable revenue streams via the various sectors of the Bank being Corporate, Commercial, SME, Personal and Wealth segments of the Bank by ensuring effective cross sell on insurance products and services across all major product lines.
• Creation of a sales strategy that will deliver the insurance cross sell objectives of the Banking Group and execution of this strategy through engagement with both external and internal stakeholders.
• Expansion of the Bank business, identification of revenue opportunities and harnessing of this revenue streams through the Stanbic IBTC Insurance Brokers sales and support in addition to the generic risk mitigation function

Key responsibilities
• Develops and drives the sales strategy around growing and servicing the insurance broker subsidiary business while ensuring that it is in line with and supports the bank ’s broader strategy
• Has a thorough understanding of the strategic business drivers, opportunities, challenges, needs, competition and threats inherent in the insurance environment
• Views day-to-day decisions, relationships and operations in terms of the bigger picture, keeping the overall/long term strategic objectives of Insurance Brokerage in particular and the Bank in general in mind
• Has insight into market trends, developments and benchmarks within the financial sector, and its implications on the insurance brokerage
• Has a good understanding of both traditional and non-traditional competitors, their drivers, products, strengths, vulnerabilities, market share/client base and the impact that these factors have on the Bank’s value proposition to the client base
• 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.
• Perform analysis of insurance companies and make recommendations regarding those that can partner with Stanbic IBTC Insurance Brokers
• Establish and maintain key external relationships including establishment of MOU’s and functional agreements and periodic business discussions with insurance underwriting counterparties
• Identify key insurance opportunities outside of the Stanbic IBTC Bank network and across the country and appropriately position Stanbic IBTC Insurance Brokers to capture the business and revenue streams.
• Support insurance sales in the network through awareness, training and a “helpdesk” function for relationship officers and sales consultants in the various business segments
• Embark on key joint calls with other business units across the country where required
• Deliver on sales, insurance cover and revenue targets for Stanbic IBTC Insurance Brokers as agreed with line manager.

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