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APPLY: Business Development Officer at Stanbic IBTC
Stanbic IBTC Bank is a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management.
Stanbic IBTC Bank is a major financial service provider engaged in personal banking, business banking, credit cards, corporate banking, non-interest banking, and wealth and investment banking in Nigeria.
Applications are invited from interested and qualified candidates to apply for the available job at Stanbic IBTC.
Business Development Officer
- Full Time
- Required Qualifications: BA/BSC/HND
- Location: Oyo | Nigeria.
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- To grow and develop insurance premium in order to deliver profitable revenue streams to the Business and Group.
- The Job holder will prospect and manage Corporates, including Insurance Brokers as channels in business development. Providing tactical input into Unit strategy/ies that will enhance the Group’s vision to be the leading end to end financial solutions provider.
- This will include cross sell to customers of the Group, potential customers from outside the Group and developing new market frontiers.
Key Responsibilities / Accountabilities
Drives the revenue for the company:
- Delivers on sale of insurance policies and premium income target through focus channels (Insurance Brokerage, Direct Sales & Marketing, etc) for Stanbic IBTC Insurance Limited across all product lines
- Customer retention
- Research and source potential clients and build long-term relationships with them by creating rapport through networking, cold calling and using referrals
- Consultatively engage prospective clients to engage in a phone conversation and/or meeting to discuss insurance products
- Collect information from clients on their risk profiles in order to offer them the proper solution.
Analyse the insurance environment:
- Has a thorough understanding of the strategic business drivers, opportunities, challenges, needs, competition and threats inherent in the insurance environment
- Has a good knowledge and understanding of the peculiarities (renewal dates etc) of corporate institutions for the purpose of strategic engagements.
- Has a good understanding of both traditional and non-traditional competitors, their drivers, products, strengths, vulnerabilities, market share/client base and the impact that these factors have Customer Value Proposition
- Continuously monitor the market trends in the insurance industry, including regulatory and legal framework, with a view to assessing the possible impact on the insurance industry.
- Assess customers risks through profiling of customer segments and understanding of their business.
- Ensure to close the loop with customers at all times. E.g. taking enquiries, ensuring prompt delivery of policy documents, proper awareness communication plan to support their decision making etc.
- Conduct financial planning sessions with members of staff of corporate clients in conjunction with their respective brokers where applicable
- Ensure simplicity in dealing all clients issues and inquiries
- Build and enhance the trust of clients and brokers to foster referrals and repeat businesses.
- Review periodically the insurance portfolio and liaise with technical to make recommendations. This could result in the development of new products or enhancement of existing ones.
Excellent in Presentation:
- Ability to connect with your audience
- Engage with clients consultatively
- Communicate effectively with clients and prospects
Maintain relationship with relevant teams and members of the group:
- Maintain relationship with internal stakeholders within CIB, PBB and Wealth.
Improve relationship with external customers:
- Maintain and improve relationship with external customers which include insurance companies, brokers, direct Corporate clients/partners etc
Proactively ensure no breach of regulations:
- Ensure strict adherence to regulatory requirements and ensuring no regulatory breach is recorded against the team in conduct and in doing business.