Job Vacancies at Stanbic IBTC Bank

Job ID: 54244

Job Sector: Insurance

Job Purpose

• To proactively assess risks and provide adequate reinsurance recommendations and cover in order
• to achieve high levels of satisfaction for the insured through high quality underwriting of risks, resolution of customers’ needs and excellent client experience.
• Manages staff responsible for reinsurance conducts and relevant research in the course of customer service.

Key Responsibilities / Accountabilities

• Process all major classes of insurance needs for clients within the agreed timeline through proper assessment/evaluation of risks, documentation and process with reinsurance companies
• Negotiation of Pricing, Reinsurance Treaty Terms And Conditions (Finalising Reinsurance Contract Wordings)
• Engagement with both local lead underwriters & Local and Foreign Reinsurance Market
• Processing of Reinsurance Bordereau- Administration of Reinsurance Contracts and Technical Accounting Preparation-Settlement of Balances (Premiums, Claims, Fees)
• Preparation of Reinsurance Portfolio Adjustment
• Facultative and Retrocession Placement with Local and/or Foreign Reinsurer
• Monitoring and Tracking of Reinsurance Commission, including preparation of profit commission statement
• Ensures that accounts are serviced efficiently and professionally – Document policy wordings from Lead Reinsurer and Underwriter submissions; deals with slip endorsements; negotiates bespoke wordings to meet Clients’ needs.
• Works with Brokers and Directors to identify and qualify opportunities for business development·
• Assists in design of complex programme structures to provide innovative risk transfer alternatives as required.
• Ensures excellent service and compliance using meticulous checking and organisation; keeps internal compliance records updated.
• Maintains up-to-date working knowledge of regulatory requirements.
• Enables and encourages interaction and collaboration with other departmental units.
• Adhere to company and regulatory policies, procedures together with mandatory training requirements.
•  Adhere to financial reporting requirements including monthly phasing of income.
• Demonstrates excellent technical knowledge and ability to communicate this to various audiences (Reinsureds, Overseas Brokers, and Underwriters).
• Reinsurance Claims Recovery: Ensure settlement of claims by reinsurance companies within the agreed timelines after submission of duly executed discharge vouchers
• Analyse and review policies of customers to ensure adequate coverage at inception and at renewal
• Implementation of changes during duration of policy or at renewal based on the review
• Review of existing major policies and communicate to the insurer and clients to prevent repudiation of claims when the unexpected occurs
• Provide training for members of the team on insurance products during the knowledge sharing sessions
• Develop capacities in team members on evaluation of insurance policies through interpretation of terms, conditions, clauses and warranties
• Mentoring team members towards attaining professional certification
• Ensure timely provision of insurance needs within agreed timeline
• Carry out physical inspections of proposed risk sites where required
•  Assess customers risks through profiling of customers and understanding of his business
• Identify inherent risks in customers business or personal needs and recommend appropriate insurance solutions
•  Review periodically the insurance portfolio and make recommendations
• Supervise reinsurance team members in ensuring provision of excellent service
• Ensure underwriting team members have basic knowledge of reinsurance process to ensure accuracy and minimize error
• Maintain close contact with internal stakeholders within CIB, PBB and wealth sectors across all segments(VAF, Credit, IBC, Commercial Banking, Human Capital, Expense Control, Operational loss control by guiding them on underwriting process in ensuring adequate cover and prompt service delivery.
• Facilitate trainings on terms and conditions of insurance policies and claims process/documentation relevant to the respective teams
• Hold regular meetings and provide periodic updates on their policies
• Maintain and improve relationship with external stakeholders which include Local and Foreign Reinsurers NAICOM, insurance companies, co-brokers, Loss Adjusters and others
•  Hold review meetings with Insurance companies on the terms and conditions of their policies to ensure adequate coverage
• Ensure no regulatory breach is recorded against the team.
• Ensure that all premium due to Reinsurer are remitted in line with regulatory guide line
• Hold quarterly meetings with the insurance companies on performance on service delivery.
• Analyse the performance results on service delivery in both underwriting and claims which will form part of the criteria for giving out businesses to the insurance companies.
• Assists in design of complex programme structures to provide innovative risk transfer alternatives as required.
• Ensures excellent service and compliance using meticulous checking and organisation; keeps internal compliance records updated.
• Maintains up-to-date working knowledge of regulatory requirements.
• Enables and encourages interaction and collaboration with other departmental units.
• Adhere to company and regulatory policies, procedures together with mandatory training requirements.
• Adhere to financial reporting requirements including monthly phasing of income.
• Demonstrates excellent technical knowledge and ability to communicate this to various audiences (Reinsureds, Overseas Brokers, and Underwriters).
• Reinsurance Claims Recovery: Ensure settlement of claims by reinsurance companies within the agreed timelines after submission of duly executed discharge vouchers

Preferred Qualifications and Experience

• First Degree in Insurance, Engineering, Finance or related fields
• Associate member, Chartered Insurance Institute of Nigeria or UK

Knowledge / Technical Skills / Expertise

• Reinsurance Knowledge and underwriting management
• Insurance Principles
• Claims Knowledge
• Insurance Products and Services
• Underwriting and pricing risk.

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Job ID: 54242
Locations: Abuja, Lagos and Port Harcourt - Rivers
Job Sector: Insurance

Job Purpose

• The role is to ensure that Private Clients in the region enjoy services that would guarantee their loyalty, as High Net worth and VIPs of the unit, by providing and delivering service excellence to these clients.
• Work closely with regional Coordinator who will be responsible for ensuring that all regulatory visitors to the region are well attended to and acting as the company’s representative where a single individual is required to act on behalf of the region as a whole.
• Work closely with the RSMs, RCSMs, Compliance and Admin Officers within the region

Responsibilities

• Driving and Coordinating 100% excellent service delivery amongst PCS clients in the region.
• Implementation of Information Technology based initiatives to increase turnaround time and satisfaction amongst PCS clients.
• Oversees the daily running of the unit across the South South region
• Providing guidance and support to team members in achieving set goals.
• Align to  applicable  SLAs developed  for PCS clients
• Ensures direct calls and visits by a member of SIPML Exco annually.
• Visit to new and existing PCS clients within the region
• Place calls to PCS clients and key contacts in the region at least once within the quarter.
• Ensures priority treatment on processing of Benefit applications and payment
• Ensures that all Service Level Agreements are strictly adhered to in all business locations
• Collation of all information on these clients. E.g. DOB of all nuclear family members, wedding anniversary, preferred sports, club affiliations (Liverpool), hometown, religion and all other information that are considered relevant
• Organization of  special events for PCS clients in the region
• Weekly check of RSA and RSA Retiree Fund to identify clients as they fall within the HNI/VIP metrics
• Ensure implementation of loyalty initiatives and distribution year end gifts to all PCS clients within the region
• Assist HNI Clients to resolve e-channels related issues and encourage them to adopt e-channels

Relationships:

• Group: BU heads in Stanbic IBTC and GIA
• Influence their service delivery; Impact the whole Group
• Description or examples: Approval and contribution to Policies

Preferred Qualification and Experience

• Minimum of a 2.2 B.Sc. Degree from an accredited University
• Wealth Management - Up to 5 years post NYSC experience;
• Expertise in customer experience management
• Minimum of 2 years relevant experience in Banking preferably in relationship / transactional banking.

Knowledge / Technical Skills / Expertise:

• Excellent knowledge of the dynamics and technical aspects of fund management and financial markets
• Understanding of policies and procedures; customer services in a first class oriented institution is desirable
• Good analytical/numerical/communication skills
• Excellent use and knowledge of NAV, MS Office applications, and other customer related tools.
• Thorough understanding of the Pensions Reforms Acts.
• Training on providing Excellent Customer Service and Financial Management. Experience in working among a Solution-Oriented team
• Experience in Customer Care duties and responding to Client Enquiries.