General Manager Bancassurance Short Term Insurance (Executive) at Absa Group Limited (Absa)

Job Summary

• To assume full responsibility and accountability for the strategy, profit and loss, operations, and growth of the Bancassurance portfolio within the Short-term Insurance business at Absa. This includes responsibility for HOC and VAPS propositions.

Job Description

Accountability area 1: Achieve profitable growth 

• Drive up profitable growth through fostering closer alignment, integration and collaboration with Bank channels and timeously implementing relevant portfolio management actions
• Identify and implement relevant strategic, tactical, and other support interventions to meet objectives
• Meet all agreed metrices and agreed KVD’s.

Accountability area 2:  Strategy Development and execution

• Translate the AIC (Absa Insurance Company) overall strategic objectives into tactical and strategic initiatives for the Bancassurance business to achieve both short term and long-term goals.
• Continuously evaluate the external and internal environment and assess the impact on the Insurance strategy and timeously implement remedial actions
• As part of the AIC Exco, take joint ownership of the overall business performance.
• Consistently review and refine the business design, architecture and operating model and ensure that they remain fit for purpose and remain competitive and compelling to support the overall Absa PSC and Group customer proposition.
• Ensure there is structured collaboration (through SLA’s where relevant) within AIC support functions and PSC entities to ensure delivery of key initiatives and outsourced functions.
• Lead cross BU and PSC level growth initiatives as required by the ME from time to time.

Accountability area 3: Collaborate to implement best in class Customer experience 

• Working with other stakeholders, consistently review current processes, competitor markets, customer needs and ensure relevant changes to ensure top class customer service experience and fit for purpose CVP
• Agree the customer metrices to track customer experience and jointly implement  remedial actions for improvements

Accountability area 4:  Stakeholder management

• Pro-actively drive up the integration into the different areas of the bank to achieve sustainable profitable growth
• Build and develop relationships across the Absa Group with various stakeholders with the intention of improving collaboration to maximize business growth
• Accountable to lead and drive up the visibility and clearly communicate the STI value proposition to PSC and Absa Group colleagues and customers
• Foster collaboration with Bank stakeholders to jointly identify partnership opportunities to benefit the wider franchise and drive- up growth  

Accountability area 5:  People Management

• Create an innovative, high-performance culture
• Deliberate and clear plans to grow talent by supporting them to make the transition to Exco succession bench
• Ensure effective implementation of group standards for formal Performance Development.
• Working with the People Lead and other executives, develop a learning and development strategy that will address the current and future business needs.
• Ensure there is a clear plan to support the enterprise and BU transformation objectives and ensure this is implemented.  
• With the support from the People Lead, establish a clear plan to attract and retain diverse talent to support business ‘s current and future needs.   
• Working with the People Lead and your senior management team, ensure that the key insights from the EOS are understood in detail and clear remedial plans are implemented.  

Accountability area 6:  Risk Management, Governance and Control 

• Maintain a BU Risk Dashboard and ensure adequate controls are in place for the BU to remains at acceptable risk appetite
• Enforce a culture of proactive compliance and risk management at all levels within the BU
• Working with Corporate Operations and your team, determine action plans to effectively reduce and manage risk related to audit findings, Compliance and Risk issues.
• Actively drive the closure of actions and review the issue assurance testing conducted on all closed items.
• Actively monitor the timely completion of Group Compliance assessment and training within the BU
• Ensure compliance with all the applicable banking and insurance regulatory laws, standards, and best practices.
• Implement appropriate systems and controls in accordance with approved risk appetite  and consistent with internal policies and procedures, both from a Banking and Insurance regulations perspective
• Address any identified inadequacies or gaps in the control environment and timeously escalate same through the Absa governance structures, where material and justifiable.
• Manage all outsourced arrangements and Binders in line with the regulatory requirements and the Absa control framework.

Education

• Bachelors Degree and Professional Qualifications: Business, Commerce and Management Studies (Required)