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Stanbic IBTC Holdings PLC is a full service financial services
group with a clear focus on three main business pillars –
Corporate and Investment Banking, Personal and Business Banking
and Wealth Management.
Stanbic IBTC Bank legally became
part of Standard Bank Group 24th August 2007. The Standard Bank
Group merged its Nigerian operations, Stanbic Bank Nigeria with
that of IBTC Chartered Bank PLC. Stanbic IBTC Bank is a major
financial service provider engaged in personal banking, business
banking, credit cards, corporate banking, non-interest banking
and wealth and investment banking in Nigeria.
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Job Position: Operations Officer, Underwritting –
Stanbic IBTC Insurance Broker
Position Description
Main Purpose of the Job
• To ensure compliance with all laid down processes with a view
to achieving uniformity across board while ensuring the
bank’s (and group) exposure is secured at all times.
Key Responsibilities
Administrative
• Processing of new businesses ( Mortgage Insurance, SME Trader
Loan, Keyman Insurance, All-risk Insurance, Term Loan
Insurance, Home Owners’ Insurance,
• Management of renewal processes for Mortgage, Home Owners’,
keyman, personal car, all-risk insurance covers etc.
• Liaising with the Bank’s approved insurers on the best rates
for the customers
• Liaising with the Collateral Unit in ensuring that existing
insurance policies are renewed as at when due
• Management of the Unit’s store to ensure the unit does not
run out stationeries at any point in time.
Customer
• Appropriate and effective execution of customers’
requests
• Policy management (including New businesses and renewals i.e.
renewal notifications etc.)
• Attending to queries from the RMs and ensuring such are
appropriately sorted and resolved
Key performance measures
• Ensure compliance with all laid down processes
• Meeting and exceeding set performance targets
• Tracking and Interfacing with insurance companies on
insurance policies
• Prompt resolution of all customers’ requests
• Ensure adequate and relevant covers are in place
Job Position: Operational Officer – Claims –
Stanbic IBTC Insurance Broker
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Description
Job purpose
• Ensuring timely reporting, capturing correct figures and
verifying accuracy of all financial data on a weekly, monthly and
year to date basis in line with working together with relevant
Units in order to in still control.
Key responsibilities
• Monitor workflow, review and evaluate procedures periodically
and recommend improvement as well as modification.
• Provide support to units and team for all reconciliation
issues.
• Reconcile accounts daily and move funds appropriately to
relevant accounts.
• Ensure all items are cleared from General Ledger account as
and when due.
• Ensure reports are regularly updated and reconciled (weekly,
monthly and yearly).
• Receive relevant reports from relevant units within groups
and reconcile figures due.
• Collaborating with other Units and Insurance Companies on
timely flow of information.
Key performance measures
• Communicating on ways to simplify narrations into various
accounts and enhance processes in order to facilitate
reconciliation and avoid audit exceptions
• Ensuring that our report gives a true position of our new and
renewed business.
• Working together with other Units and Insurance Companies to
deal and resolve issues on reconciliations.
• Ensuring spool of PLPP report on Cognus reconciled alongside
Trial Balance report received from IT Production Unit,
transactions moved to Leadway Assurance Company Limited account
which forms 20% of our monthly fees on PLPP.
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Job Position: Head, Technical Operations – Stanbic
IBTC Insurance Broker
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Description
Job purpose
• Provide strategic leadership for the SIIB in accessing client
risk and placing it with reputable insurance companies.
Provide risk management solution to our clients need.
Key responsibilities
• Develop, implement and manage strategies for the technical
department
• Develop and implement SIIB service structure
• Providing a secure, efficient, competitive and comprehensive
range of services and products.
• Developing and continuously reviewing integrated financial
and management information systems designed to assist all
levels of management throughout SIIB in planning and
controlling their operations in relation to objectives.
• Track insurance for the entire Group to ensure cover of all
assets and risks is in place at all times
• Ensure that SIIB policies are implemented
• Research, assess and implement local and international best
practices.
• Monitor industry, market statistics and competitor trends in
order to ensure strategic plans on market share are
achieved.
• Explore opportunities to develop new business in line with
SIIB business development strategy.
• Ensure adequate training and development of all Technical
support team
Key performance measures
• Development of a strategy and vision
• Meeting and exceeding set performance budgets / targets
• Development and maintenance of a scorecard
• Best practice management
• Ensure adequate and relevant cover are in place for all
loan-related insurance.
• Ensure adequate and relevant cover are in place for group’s
assets and liabilities
• Ensure that clients policies are issued and delivered on time
Job Position: Head Sales/Marketing – Stanbic IBTC
Insurance Brokers
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
• 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.
• 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
Key performance measures
1. Profitability
Achieve Profitability by;
• Ensuring that the right insurance products are offered to
cover risk associated with lending to the Bank customers in the
CIB, PBB and Wealth sectors.
• Determine annual insurance brokerage income budgets for
Stanbic IBTC Insurance Brokers
• Agree targets CE Stanbic IBTC Insurance Brokers
• Achieving budget annual insurance brokerage revenue on cross
sell within the network and direct sales outside of the
network.
• Reviewing and ensuring renewal of all customer Insurance
portfolios or arrangements currently in place through the
Bank
• Maximizing the insurance revenue opportunities in conjunction
with the various segments eg Collateral, VAF, Trade,
Agriculture, Distributor Finance teams as it relates to
customer lending.
• Maximize the penetration into Customers own insurance
arrangements by harvesting the Banks client base in CIB, PBB
and Wealth thereby reducing leakage of potential revenue.
2. Staff Up skilling and Training
Ensure all staff of the group that are in a position to cross
sell insurance products to customers are trained and empowered
to do so by;
• Ensuring these group staff have in depth awareness and
knowledge of the relevant insurance products and services
required for their customers.
• Ensure group staffs have the necessary selling skills to
convince customers to take relevant insurance cover.
• Proactively manage and mentor key stakeholders to ensure
completion of the insurance sale.
3. Improve Efficiency and
Effectiveness
• Ensure sales, renewal, premium payment, policy issuing and
claims processes for all insurance products and services are
developed, recorded and adhered to.
• Ensure accurate recording of both insurance direct sale and
cross sell revenue and sales per product or service.
• Ensure compliance with local insurance regulations.
• Ensure all policies and products are competitive and remain
competitive by conducting ongoing market and competitive
analysis.
• Ensure all insurance policies provide cover that is relevant
and in line with good local market standard.
4. Customer Service Quality and
Efficiency.
• Provide a proactive liaison role between Customer, RM and
Credit to get new insurance business onto the books and
renew existing policies
• Ensure customer receives all the relevant fulfilment
documentation timely.
• Ensure all documentation issued to customers is accurate and
professionally managed.
• Ensure customer queries and complaints receive a fast and
effective turnaround time.
How to Apply
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