The purpose of this role is to have a dedicated resource with the appropriate skills and knowledge to support the Bancassurance strategy in Commercial Banking. The Business Development Officer is responsible for supporting the Business Development Manager with corporate sales, general client management, renewals management, premium collection, and stakeholder engagement. The role involves enhancing insurance business development through effective renewals management, ensuring all new business is written via ABIAL, and identifying insurance cross-sales from Corporate and Investment Banking (CIB) clients.
Key Responsibilities
Business Development (70%)
Responsible for the achievement of Commercial Banking revenue targets.
Support Commercial Banking teams to ensure insurance business is completed on time and through ABIAL.
Ensure New-To-Bank (NTB) insurance requirements are sourced and placed with approved underwriters via ABIAL.
Work with the Trade Finance team to ensure all Letters of Credit customers are provided with marine cover.
Conduct joint customer visits with Relationship Managers to understand insurance needs and tailor customer-led solutions.
Attend Commercial Banking sales connect sessions to report on insurance pipelines and uptake progress.
Manage sales activations and quarterly customer sensitization events in partnership with partners to increase uptake.
Service Commercial Banking customers and ensure adherence to Service Level Agreements (SLAs) and Turnaround Times (TATs).
Identify cross-sell and up-sell opportunities and track performance.
Ensure all documentation is correctly completed, collected, and submitted as per procedure manuals.
Rigor and Compliance (5%)
Ensure all regulatory requirements are met by complying with the Insurance Act and SLAs.
Responsible for compliance with business procedure manuals and internal audit processes.
Ensure all claims are reported, tracked, and resolved as per SLA by the Center of Excellence (COE).
People Management (15%)
Manage relationships with Commercial Banking colleagues to drive business growth.
Deal with outlets and operations centers to ensure full understanding of the insurance process and procedures.
Motivate Relationship Managers through agreed programs.
Premium Collection and Policy Administration (10%)
Ensure all premiums are collected in accordance with the Insurance Act and partner insurer SLAs.
Provide management reports on the status of premium collections on a weekly basis.
Manage all aspects of premium refunds and ensure receipts are received from partner insurers.
Requirements and Qualifications
A Business-related Degree from a recognized university.
Certificate of Proficiency (COP) qualification.
Diploma in Insurance, LOMA, or progress toward an ACII qualification.
Further Education and Training Certificate (FETC): Business, Commerce, and Management Studies (Required).
Preferred experience: Insurance Broker or Sales experience dealing with corporate insurances and relationships.
Skills and Competencies
Technical Skills: Deep knowledge of insurance business (claims management and underwriting), products, and processes; strong business development and negotiation skills.
Soft Skills: Excellent relationship management, presentation skills, problem-solving, time management, and attention to detail.
Behavioral: Results-driven, service-oriented, and capable of working effectively across diverse teams.
How to Apply
Interested and qualified candidates should apply online through the Absa Bank career portal at absa.wd3.myworkdayjobs.com. Ensure all your profile details are complete and relevant certifications are attached.
