Standard Bank Vacancies Opportunity

  •  29908
  •  Banking
  •  South Africa
  •  Gauteng
  •  Constantia Kloof
  • Image result for Wanna work for Standard Bank?
  • Job Purpose

    Together with the GID Head, identify, develop, launch and manage the short-term insurance product relationships with leading Insurers on the Standard Bank Insurance Brokers Insurer

    Pro-actively look at the product set and come up with new products/ enhancement to significantly drive the SBIB customer value proposition across the general insurance range of offerings.

    Manage new and enhancements that need to be made to all Insurer Intermediary and/or Binder Agreements as well as all other Legislative requirements pertaining to the Short-term Insurance Act and FSB regulations.

  • Authorise the Standard Bank Insurance Brokers (SBIB) Professional Indemnity (PI) Claims and manage the fund pertaining to all the personal insurance products sold to Standard Bank customers (including Vehicle and Asset Finance (VAF) customers and non-Group customers).
  • Key Responsibilities/Accountabilities

    Key Responsibilities
    Output group 1* Management of Professional Indemnity Claims
    Outputs and measures* • Analyse all the relevant documentation submitted by management to substantiate the validity of potential PI claims.
    • Manage and monitor the Professional Indemnity Fund on a monthly basis
    • Make a recommendation PI Claims ensuring alignment to both Short Ombud and Fais Ombud criteria, also referring to the group Internal Ombud as required.
    • Provide detailed actions that have been taken and implemented in order to reduce Professional Indemnity Claims
    • Ensure that the fund will not be exceeded during the financial year in question.
    • Sign off all changes, enhancements and additional information that is included in the Professional Indemnity Claims processes and procedures.
    • Review the Operations SLA pertaining to Professional Indemnity claims on a quarterly basis and report on changed, enhancements and/or additional action points.
    • Attend and Participate in management forums and meetings as required

  • Output group 2* Financial Management
    Outputs and measures * Support the GID Head in delivering the key Financial goals:

    • The Car & Home Product, HOC, VAF Comprehensive Motor, Top-Up, Touch-Up and Motor Warranty Income.
    • Cost to Income ratio by

  • product.
    • Manage New Business sales by product to budget
    • Manage Cancellations by product and implement measures to curb this
    • Actual Active policies by product to budget Contribute and participate in the overall budgeting process pertaining to the HOC, Car & Home and VAF areas in terms of Income, Expenses, Profit, Sales targets, Cancellation targets and Active Policy base targets.
    • Motivate and provide income projections in terms of Broker Fee adjustments.
    • The sale targets need to be split between all panel Insurers and these need to be communicated to the Insurers and aligned to the budgeted targets set by the Insurers.
    • Negotiate with the Insurers that between their target and the SBIB target the highest is accepted by both parties so that together we achieve the agreed target which benefits both parties
    • Contribute and participate in arriving at the Professional Indemnity fund during the budgeting process and take ownership once the fund is agreed

    Preferred Qualification and Experience

    Minimum qualification 1* Degree (BA/BComm/ Marketing/ Insurance)
    Minimum qualification 2 Regulatory Exams 1 and 2 as well being in position of a FSB Key Individual qualification.

    Experience required 1* Years: 5-7 Years
    Experience Description: Short-term Personal Lines insurance requirements and product knowledge and how this fits into the relevant SBSA Group Customer basis. Decision making and proposal motivations are essential. Understanding of Insurance Legislation and FSB regulatory requirements.

  • Apply online here>>Standard Bank vacancies 

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