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ROLE PURPOSE

With the opening up of the Insurance market in Myanmar, Yoma Bank is looking to establish Bancassurance partnership(s) with insurance company(s). The role would be responsible for setting up the Bancassurance business with the insurance partner and delivering sales target across the nation. Acting as the primary relationship manager with Insurance Partner, responsible for developing a strong mutually beneficial relationship.

JOB RESPONSIBILITIES

• Propose and get approval from the Bancassurance business plan to / from Yoma Bank management and Board
• Set up the Bancassurance business in Yoma Bank in partnership with the Insurance partner
• Grow the Bancassurance business as per the agreed business plan
• Train and groom the Bank Bancassurance team to become self-sufficient in agreed period to take over the business in the long run
• Responsible for coaching and equipping the “acting” Bancassurance Head of the Bank with required skillsets and business acumen during the agreed period
• Responsible for defining strategic KPIs and setting up business targets for different departments of Retail Banks
• Engage Bank senior leadership for quarterly discussion on Life insurance businesses
• Provide key insights to product and marketing team of bank & insurance partner for the design to unique product for different segments of the bank customers
• Ensure brand compliance for all above and below-the-line communication according to local and regional standards for the Bank and Insurance Partner
• In charge of nationwide sale target of Bancassurance Channel and increase in penetration of Insurance products across client segments
• Lead and engage with Product and Analytics Lead and IT Solution Architect for the development of bancassurance initiatives to ensure timely delivery to support sales, distribution and customer services.
• Lead, guide, evaluate performance of the direct reporting team by setting targets and striving for continuous improvement in productivity and efficiency;
• Lead business planning for the sales function and supervise the preparation of operating budgets and control budgets for headcount and expenses in line with the corporate strategy;
• Design and implement tactical sales incentives and sales contests along with the bank’s sales management team to drive sales volume and value.
• Ensure all insurance-related sales and operations are in compliant with Local and Regional regulatory guidelines
• Promote a responsible culture of sales compliance and quality and coach sales staff.

Education & Special Training

Essential

• Degree holder qualified with a demonstrated track record in Bancassurance leadership roles, with strong experiences in sales and business management as well as product development.
• Strong Communication, presentation and influencing skills will be essential.

Experience

Essential

• Experience in sales planning for large financial institutions and launching both banking and insurance product
• Minimum of 10 to 15 years of working experience in banking and insurance industry

Desirable

• General Insurance background with working knowledge in technical aspect of business.

Languages

Essential

• Strong knowledge of English.
• Myanmar language would be desirable.

*Only shortlisted candidates will be contacted for interview*