Insurance Product Manager: Africa Regions at Standard Bank Group

Job Description

• To achieve the SBIB Commercial goals for the Corporate and Multinational Account offering, income and profit budgets by way of managing the behaviour of staff and relationships with the corporate and multinational’s staff members and clients through training, support, and motivation. 
• To ensure on-going and successful placement of insurance policies locally and globally.
• Ensure efficient support and assistance to the corporate and multinational clients on all levels in terms of the insurance offerings.
• To implement strategic objectives and identify opportunities that become available.
• To regularise all insurance covers and manage compliance issues as required in each country globally.
• Ensure continuous awareness of the Insurance offerings within the appropriate environments.
• Work close with all partners and clients to achieve the goals as set out by Commercial insurance.

Qualifications

Minimum Qualifications

• Grade 12/Matric Certificate together with a relevant business degree or similar [majors in Risk, Finance, Insurance will be an advantage]
• Full Qualification as recognised by the Registrar.
• Postgraduate or professional qualification in risk and relevant experience an advantage
• Be prepared to write and pass KI examination should this be required and requested.
• Must have passed FAIS exams min 60 credits – qualification and experience as determined by “Fit and Proper Requirements” of the FAIS legislation.
• Must be fully FAIS Compliant
• Regulatory Exam Certificate (RE5)
• Registered FSP Representative (Category 1 and Sub-Category 1.6)
• Fit and Proper as determined by FAIS legislation (Honesty, Integrity, and Financial Solvency)
• On-going continuous professional development
• Attend courses internal or external.

Experience Required

• Basic overall insight and understanding of accounting items and financial ratios and /or the ability to use a financial calculator and elementary interpretation of financial statements and understanding of relationship between certain ratios.
• Overall understanding of the concept of risk and the different kinds of risk: (1) Credit (e.g., settlement, default, re-insurance, capital adequacy, credit spread, equity), (2) Market (e.g., currency, market liquidity, reputational, competitor, statutory), (3) Operational risk (e.g., product development, pricing, legal, process, IT, HR, Tax, Compliance). In addition to this, a working knowledge of one subset of these kinds of risks. The ability to apply this knowledge to own job or sub-process.
• Create, edit, and print files from Word, Excel and PowerPoint using intermediate features like Macros and advance formulas.
• A working understanding of the general principles of banking: value drivers, risks, impact of the economy
• Perform elementary functions on computer systems (most often used) within role specific systems with elementary problem-solving requirements.
• In depth understanding of range of products in the market, competitor advantages and disadvantages and own product competitive position.
• Overall understanding of insurance principles like law of contract, good faith, subrogation, insurable interest, proximate cause, indemnity, excess as well as insurance classes and the impact of these on their direct environment. Furthermore, a basic understanding of insurance terminology.
• A workable knowledge of a specific set of products (single class/multiple processes) and ability to apply product features, benefits, exclusions to various situations. Handles basic activities/queries that fall within the policy terms and understands impact of actions on other areas of the business (claims/underwriting/sales). Differentiates between product features and benefits based on customer needs.
• Sound knowledge of compliance and risk functions 
• A good working knowledge of Financial Advisory and Intermediary Services Act (FAIS) and the Financial Intelligence Centre Act (FICA).
• Good working knowledge of technical portfolio management systems

Additional Information

Behavioral Competencies:

• Results orientated/Customer service focused, and people orientated.
• Ability to apply logic and reason as well as interpersonal skills.
• Excellent self-starter
• Disciplined
• Consistency portrays a professional corporate image.
• Ability to establish effective working relationships with all stakeholders. 
• Must be presentable.
• Experience in dealing with varied situations and strict deadlines.
• Good organisational skills
• Must be able to work in teams.

Technical Competencies:

• Budgeting 
• Financial analysis
• Risk Management
• Applications: Communications 
• Applications: Microsoft Office Suite
• Emotional Intelligence/maturity
• Interpersonal Relationships
• Self-management
• Time management
• Economic and business knowledge
• Operations and Implementation: General
• Forum and meeting management
• Negotiation and conflict resolution
• Quality Management
• Resource and capacity planning 
• Product Training