Mon. Sep 26th, 2022

Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa’s financial system for 150 years, and now spans 16 countries across the African continent.

Standard Bank is a firm believer in technical innovation, to help us guarantee exceptional client service and leading edge financial solutions. Our growing global success reflects our commitment to the latest solutions, the best people, and a uniquely flexible and vibrant working culture. To help us drive our success into the future, we are looking for resourceful individuals to join our dedicated team at our offices.

We are recruiting to fill the position below:




Job Title: Business Development Officer – SIIBL

Job ID: 51994
Location: Lagos-Island, Lagos
Job Details: Insurance

Job Purpose

  • To grow and develop insurance income for SIIBL and deliver profitable revenue streams from within and outside of the Stanbic IBTC Group.
  • Ensure effective cross sell of insurance products and services across all major product lines. Execution of the regional sales strategy to achieve all revenue goals and targets through engagement with both external and internal stakeholders.
  • Expansion of the Stanbic IBTC Group business through identification of revenue opportunities and harnessing of this revenue streams.
  • Effective management and supervision of regional sales agents network.

Key Responsibilities / Accountabilities
Financial Outcome – Achieve monthly sales target of Insurance brokerage commission:

  • Achieve assigned monthly Insurance brokerage commission target
  • Achieve assigned monthly/yearly insurance policy target
  • Achieve assigned new customer acquisition for both personal and business lines
  • Identify, initiate and convert leads for SIIBL
  • Grow SIIBL wallet share of customer’s insurance portfolio by harnessing and upselling insurance products.
  • Provide advice to corporate clients on managing and transferring risk using insurance solutions
  • Ensure timely engagement and follow up of customer’s insurance renewal of all Insurance portfolios or arrangements.
  • Maximize the insurance revenue opportunities in conjunction with the various business segments in Wealth and the Bank
  • Ensure penetration into Customers own insurance arrangements by harvesting the Banks client base in CIB, PBB and Wealth thereby reducing leakage of potential revenue.
  • Operate within the NAICOM guidelines and framework so as to avoid sanctions or infractions to the Company.
  • Make physical / telephone calls / e-mails to clients for customer interactions
  • Organize and facilitate Interactive sessions
  • Grow the SIIBL business within the region through regular engagement with prospective clients within and outside of the Group.
  • Views day-to-day decisions, relationships and operations in terms of the bigger picture, keeping the overall/long term strategic objectives of SIIBL and the Group in general in mind
  • Have 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 on the Bank’s value proposition to the client base
  • Support insurance sales in the network through awareness, training and a “helpdesk” function for relationship officers and sales consultants in the various business segments
  • Embark on key joint calls with other business units within the region where required
  • Effectively communicate and follow through, with client requests to Underwriting, claims and support units
  • Ensure prompt provision of KYC documents to avoid delays in providing insurance cover to clients and refund of premiums received.
  • Consistently identify value to our customers by leveraging the various resources within the group
  • Grow SIIBL’s share of mind among clients/ organizations in assigned institutions
  • Proffer possible strategies/ways to improve sales and relating to customers.
  • Identify key insurance opportunities outside of the borrowing customers of Stanbic IBTC Bank and appropriately position SIIBL to capture the business and revenue streams
  • On-board, train and supervise sales agents to deliver on monthly premium targets.
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Client Focus – Customer Service Quality and Efficiency:

  • Ensure adherence to set turnaround times with respect to customer relationship management processes.
  • Provide excellent service to existing policy holders and ensure clients are notified before insurance policies expire
  • Ensure accurate recording of both insurance direct sale and cross sell revenue and sales per product or service.
  • Ensure all policies and products are competitive and remain competitive by conducting ongoing market and competitive analysis.
  • Ensure all insurance policies provide cover that is relevant and in line with good local market standard.

Risk and Conduct – Ensure Compliance in line with Stanbic IBTC Group standards:

  • All customers on boarded must meet minimum KYC in line with the AML CFT policy and company PEP guidelines.
  • All information shared with the customer and instruction received from customers must be captured via Call Memos or Call logs. Meeting notes must be shared with customers and filed accordingly
  • Adherence to the SIIBL Business Development Department Manual and all employee group policies
  • Completion of all People fluent training and agreed personal development plan
  • Minimize Ops losses and ensure it does not exceed the 0.5% benchmark
  • Operate within the NAICOM guidelines and framework so as to avoid sanctions or infractions to the Company
  • Continuously monitor market trends in the insurance industry, including the regulatory and legal framework, with a view to assessing the possible impact on the insurance brokerage
  • Educate and enlighten clients employers about the dynamics of the Insurance industry
  • Ensure adherence to code of ethics and all other related guidelines
  • Ensure smooth internal & external stakeholder management.
  • Adherence to the scheduled Leave Plan
  • Maintain Zero tolerance for regulatory breaches
  • Minimize reputational risk exposure
  • Maintain zero tolerance for repeat GIA or internal control findings.
  • Prompt reconciliation of income/premium and avoidance of all internal breaches
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Preferred Qualifications and Experience

  • General Social Science.
  • Wealth Management.

Knowledge / Technical Skills / Expertise
Technical Competencies:

  • Insurance Technical Competencies
  • Compliance-Know-Your-Customer
  • Brand Management
  • Customer Understanding.
  • Effective Business Communication
  • Presentation Skills


How to Apply
Interested and qualified candidates should:
Click here to apply


  • we are an equal opportunity employer and is committed to building a diverse workforce. While all applications will be acknowledged.
    • We reserves the right to select one or more candidates from this vacancy announcement
    • We may also retain applications and consider candidates applying to this post for other similar positions at the same grade level and with similar job description, experience and educational requirements
    • Qualified female candidates are strongly encouraged to apply
    • Scam Warning:
    We do not charge any application, processing, training, interviewing, testing or other fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it.
    • Furthermore, please note that emblems, logos, names and addresses are easily copied and reproduced.
    • Therefore, you are advised to apply particular care when submitting personal information on the web
    • Only shortlisted candidates will be invited for interview or the next stage of the recruitment process.
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