Head of Employee & Retirement Benefits Solutions at Jubilee Insurance

Job Ref. No: JLIL 225

Role Purpose

The role holder is responsible for managing, leading and driving business growth initiatives, identifying new opportunities, and fostering client relationships within the Pension Business. The role aims to increase market share in the Corporate Pensions, Personal Pension Plans, Annuities and Income Draw Downs. The role holder will drive productivity through a team of Business Development Managers, Assistant Managers and Officers.

Main Responsibilities
Strategy

•  Drive the organization’s business development strategy, grow the current portfolio, and explores new business opportunities in the Retail and Corporate pension business, Annuities and Income Draw Downs.
•  Drive the continuous evaluation of short and long-term strategic financial objectives with supporting financial analysis and evaluation.
•  Conduct market analysis and stay updated on industry trends, competitor activities, and regulatory changes to identify strategic opportunities and potential risks.
•  Coordinate the budgeting process and ensure the budgets are financially reasonable and reflect the strategic initiatives of the Company.
•  Monitor portfolio performance, asset allocation, and risk exposure on an ongoing basis.
•  Participate product development, pricing strategies and market positioning of the pension business. Collaborate with internal teams to conceptualize, design, and launch innovative solutions that meet client demands.
•  Create and maintain relationships with key stakeholders, industry associations, and influential networks to enhance the company's visibility and reputation.

Operational

•  Operational Excellence: Drive operational excellence within the business by setting clear goals and performance metrics, monitoring performance, and implementing improvement initiatives to achieve service level agreements and operational targets.
•  Technology and Systems: Collaborate with IT and operations teams to assess, select, and implement appropriate technology solutions for the business. Leverage digital tools, policy administration systems, and workflow automation to optimize processes and enhance productivity.
•  Data Analysis and Reporting: Analyze sales data to identify trends, patterns, and opportunities for process improvements or cost savings. Generate regular reports and provide insights to management regarding key performance indicators, operational metrics, and potential areas for improvement.
•  Oversee the implementation of risk management and control measures to mitigate operational risks.
•  Champion a customer-centric approach, ensuring the delivery of superior services and client satisfaction.
•  Establish and maintain strong relationships with key clients, addressing their needs, and proactively identifying opportunities to enhance their experience.
•  Monitor client feedback, analyze trends, and implement measures to improve service quality and exceed client expectations.

Business Growth & Development

•  Identify potential partnerships to enhance the organization's capabilities and market positioning.
•  Lead efforts to acquire new clients and retaining existing clients by building and maintaining a strong pipeline of prospects.
•  Collaborate with the marketing team to implement sales and marketing initiatives to attract new clients and increase market share.
•  Conduct market research and analysis to identify target markets, customer segments, and competitive landscape.
•  Conduct client presentations, negotiations, and contract discussions to secure new business.
•  Develop and maintain relationships with key decision-makers and influencers in target organizations.

Corporate Governance

•  Compliance: Adherence to the laws and regulations of Kenya, the policies and regulations within the insurance industry and all internal company policies and procedures.
•  Ensuring compliance with applicable statutory and regulatory requirements and establishing mitigation measures against emerging business risks.
•  Participate in closure of external or internal audits issues.

Leadership & Culture

•  Lead and manage a team, providing guidance, coaching, and performance feedback.
•  Fostering a corporate culture that promotes ethical practices and good retail citizenship while maintaining a conducive work environment.
•  Collaborate with cross-functional teams to develop initiatives that promote a positive and inclusive company culture.
•  Individualized Development Planning: Create personalized development plans that align with your career aspirations and the organization's objectives.
•  Monitor team performance, track progress against targets, and provide regular reports to senior management.
• Conduct regular team meetings and training sessions to enhance skills and knowledge related to claims handling and industry trends.
•  Building relevant departmental capacity to deliver on strategy by leading, guiding, directing, and evaluating the work of the team.
•  Building the team capabilities and ensuring adequate succession planning within the department.

Key Competencies

• Strategic thinking and business acumen for identifying growth opportunities.
• Excellent communication and negotiation abilities.
• Sales-driven and target-oriented mindset.
• Financial acumen and understanding of life insurance products.
• Excellent data skills, Report writing and Presentational skills.
• Excellent leadership and team management skills to lead the business development team.
• Strong relationship-building abilities for managing external partnerships.
• Analytical mindset for data-driven decision-making and performance evaluation.
• Customer-centric approach, focusing on enhancing customer experiences.

Academic Background & Relevant Qualifications

• Bachelor’s degree in Insurance, Finance, Business or any other related course
• Diploma in Insurance qualification
• LOMA/CII/IIK Qualification
• Minimum 8-10 years’ experience in a similar role.
• Proven track record in sales and relationship management in the Insurance sector.
• Proven track record of successfully implementing strategic initiatives and driving process improvements.
• Experience in both Corporate and Retail Pension Sales.