Product Manager Bancassurance

Job Summary

This is a key role in supporting the bank wide Bancassurance initiative and the individual is responsible for the management of existing suite of Insurance Products and the development of new products suitable for different segments of customers. This would include internal product development or third party product supplier management, product pricing and maintenance from concept through to full delivery to market. In addition, the role will require continuous interaction with multiple stakeholders internal and external.

Key Accountabilities

Product Management

 Deliver against the Bancassurance Plan through sales growth and revenue generation from Private Banking, Sadara, and Personal banking customers

 Analyze and interpret customer and market data to develop a robust proposition that is scalable and adaptable to different customer segments.

 Manage the current product range and take responsibility for the delivery of new products and services

 Ensure effective delivery of product initiatives through strong project management, communications and stakeholder management

 To recommend and implement plans for the new products including product development plans, annual income and budgets

 Monitor industry, market, customer and regulatory trends identifying risks and opportunities and propose appropriate responses

 Ensure all Certification and accreditation requirements are fulfilled and provide training support to all stakeholders

 Ensure compliance with Qatar and CB regulations and ensure that appropriate controls and procedures are in place to protect and manage the business

 Contribute to the implementation of the Retail wide Insurance product and sales strategy and ensure the delivery of underlying objectives.

Product Strategy

 Contribute to the implementation of the Retail wide Bancassurance product and sales strategy and ensure the delivery of underlying objectives.

Budget and financials

Contribute to the preparation of the budget and monitor financial performance in order to ensure that the business is aware of anticipated costs/revenues and areas of unsatisfactory performance are identified and propose and implement activities to ensure business objectives are met

Other Accountabilities

Sales monitoring

 Monitor sales performance regularly versus the budget of the telesales team and other distribution channels, in order to ensure meeting the set budgets

 Ensure that all sales activities are conducted within the controls and quality standards set by CB guidelines and compliant with QCB regulations

 Work with stakeholders to achieve insurance cross sell strategies across all segments

MIS and Reports

 Prepare departmental MIS statements and reports if required outside of the Analytics team in a timely and accurately manner to meet CB and QCB reporting requirements, policies and standards

 Provide and analyse periodic and / or ad hoc reports in order to provide insights and clarity of Insurance products current activities and performance

Training and Certification

 Responsible for the custody of the Training and certification Log. The log should be updated regularly to ensure that all employees carrying out any of the insurance business activities is an accredited employee in accordance with the QCB provisions

Supervision of Subordinates

 Organise and supervise the activities and work of the subordinates to ensure that all work within his area is carried out in an efficient manner, which is consistent with operating procedures and policies

 Provide on-the-job training, coaching and constructive feedback to subordinates to support their overall development.

Continuous Improvement

 Motivate cross-functional teams and contribute to the identification of opportunities for continuous improvement marketing communications, processes and practices taking into account ‘international leading practice’, improvement of cross sales, customer activity and experience

 Align all customer journeys and processes to the banks digital transformation strategy

Policies, Systems, Processes and Procedures

 Recommend improvements to functional procedure and direct the implementation of instructions and controls covering a specific area of activity so that all activities are conducted in compliance with risk, audit, and regulatory requirements while delivering a quality, cost-effective service.

Quality, Health, Safety, and Environment

 Ensure compliance to all relevant quality, health, safety and environmental management procedures and controls within a defined area of activity to guarantee employee safety, compliance, delivery of high quality products/service and a responsible environmental attitude.

Related Assignments

 Perform other related duties or assignments as directed.

Education

• Bachelor degree or equivalent
• MBA, or other Masters level degree