Head of Bancassurance & CMPS, Wealth Management at Standard Chartered

Standard Chartered Bank Jobs

Head of Bancassurance & CMPS, Wealth Management – (2100002932)

Primary Location: Africa & Middle East-Tanzania-Dar es Salaam

Schedule: Full-time

Employee Status: Permanent

About Standard Chartered

We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.

To us, good performance is about much more than turning a profit. It’s about showing how you embody our valued behaviours – do the right thing, better together and never settle – as well as our brand promise, Here for good.

We’re committed to promoting equality in the workplace and creating an inclusive and flexible culture – one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.

The Role Responsibilities

Strategy

• Develop & execute an overall business corporate plan covering all insurance activities across all channels based on business targets in alignment with Insurance Partners and global strategy
• Develop & execute an overall plan to plan and execute the Wealth Management value proposition objectives
• Work with Head of Client Segments and team leaders to increase penetration, retain current business, and grow new to bank clients
• Develop and implement innovative products for WM to meet needs of target segments
• Implement efficient pricing mechanism to enhance the profitability FX and Wealth Lending business and achieve budget revenue targets
• To ensure prudent & smooth operational processing and improve process flows to increase efficiency.
• Periodically review product specifications to be consistent with business strategy
• Compliance with Bank and local regulations.
• Actively participate in joint sales calls with sales team (RM’s, BRM’s) to promote FX products to customers
• Service and call on existing & potential customers on an ongoing basis to obtain further business & to ensure a high level of customer satisfaction.
• Provide ongoing product training to all CPBB RM’s and branch staff.
• Keep track of FX Product performance on on-going basis.
• Keep track of products and marketing initiative of competitor banks in the market and keep abreast of latest trends in the global markets and advice customers.
• Migrate best practices to and from other group centres.
• Provide feedback to Segment Heads and Product Managers, on clients changing needs to ensure that SCB’s product offering are current.
• Provide quality economic information to Sales teams and customers related to FX volatility as part of education and promotion of FX products.
• Create and maintain records of customers and be aware of their needs and currency exposure to be enabled to advise them accordingly.
• To identify opportunities for cross-selling and referral to other SCB lines through developing and maintaining a close understanding of customers’ businesses
• To participate in various client functions, conduct client surveys and conduct focus groups to ensure product and market intelligence feedback is solicited, and used in a way which enhances SCB’s competitive positive.

Business

• Active management of overall Insurance P&L to deliver client satisfaction, and revenue targets for the business.
• Drive sales and client adoption of insurance and CMPS via all available channels of the Bank
• Monthly reporting of insurance business including, but not limited to, commissions received, financial projections, marketing activities, etc
• Increase in penetration of Insurance products across client segments

Processes

• Identify insurance product needs for all customer segments in consultation with Sgment Heads.
• Develop appropriate product and service propositions / offerings with Insurance Partners
• Monitor operational activities to ensure that they are compliant with:
• Local regulations, policies and procedures
• SCB Country level and Group policies and procedures

People and Talent

• Continually up skill and grow self, ensure proper talent pipeline management and succession planning.
• Inspire people through leading by example and living the values consistently.
• Ensure Travel & Entertainment related expenses comply with policy. This includes, where required, pre-approval of client entertainment exceeding prescribed threshold
• Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.
• Ensure employees register all client entertainment and gifts in the appropriate register and policy is adhered to for gifts given and received

Risk Management

• Ensure the desk operates within the highest standards of AML Management and other controls as stipulated by the bank and regulators.
• Monitor regulatory and market development and provide feedback on the market and the business to the sales and management.
• Be aware of and comply with Group policy, local laws and Regulations relating to the prevention of Money Laundering and Terrorist Financing.
• Ensure you remain alert to the risk of money laundering and assist in the Bank’ efforts in combating it by adhering to the key principles in relation to: identifying your customer, knowing your customer, reporting suspicions, safeguarding records and not disclosing suspicions to customers

Governance

• Make sure all staff has received all required external licences prior to commencing commercial activity – this also includes mandatory eLearning.
• Make sure all general legal and regulatory requirements relating to specific activity are complied with, such as ensuring compliance with ISDA standards and ISDA agreements are in place before we trade.
• Make sure all information is handled appropriately; where necessary exposure to information which may be confidential or sensitive should be notified to Control Room and/or Legal & Compliance

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Lead the Tanzania Bancassurance and CMPS teams to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.] *
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Exercise authorities delegated by the Board of Directors and act in accordance with Articles of Association (or equivalent)

Key Stakeholders:

External:

• Government bodies
• Alliances & partners
• Customers
• Counterparts in other Banks/Financial Institutions

Internal:

• All channels/ client segment heads
• Marketing
• Lending Operations
• CFCC
• Legal

QUALIFICATIONS:

• Certificate of Proficiency in Insurance or higher Insurance qualification.
• Bachelor’s degree or its equivalent in insurance, banking, risk management, law, actuarial science, finance or related field from recognised institution.
• Working experience in insurance industry of at least three years.

Apply now to join the Bank for those with big career ambitions.

To view information on our benefits including our flexible working please visit our career pages. We welcome conversations on flexible working.

Posting Date: 17/Feb/2021, 6:39:51 PM

Unposting Date: 04/Mar/2021, 2:59:00 AM

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