Bancassurance Operations Officer (BOO) Tropical Bank Limited

Main purpose of the Job:
The jobholder will work closely with the Principal Officer – Bancassurance and Relationship Managers to build, cultivate and support the Bank’s Bancassurance Operations working with the Bank, Insurers and Customers to ensure robust premium payment to Insurers, commission collection, claims management and business reporting procedures for all the Bancassurance Segments in the Bank.
He/She will effectively manage, monitor and reconcile all the Bancassurance Accounts/GLs to ensure correct Bancassurance Incomes are generated and reported in a timely manner.

Duties and Responsibilities:
1) Providing underwriting and business reporting support by inputting all proposals received from all the branches into the Business Reporting template or system to generate correct periodic reports.
2) Keep a proper record and tracking of all submitted proposals and received policy documents to ensure service efficiency to the relevant stakeholders.
3) Working with the Bancassurance Sales Officers to ensure proper storage of all the submitted Insurance proposal forms (scanned copies from branches).
4) Perform all quality assurance duties i.e., Make calls to clients whose policies have been issued and sent to them directly (confirm receipt of the polices and correctness of what they brought).
5) Working with the Insurer to ensure timely payment of Insurance premium payments to the Insurers and thus increase Insurance policy persistency and/retention as per the regulatory guidelines.
6) Ensure timely delivery of proposal forms to the Insurance company to enable policy issuance as per the agreed timelines.
7) Liaising with the Insurers to ensure timely receipt of commissions and reconciling them with
Insurance premium paid.
8) Working with the Finance Department to carry out proper reconciliation of Insurance premium, commissions and claims GLs/Accounts reconciliations on a daily, weekly or monthly basis and ensure that they are all balanced
9) Ensure all Insurance Policies, Premium and Commissions registers/reports are updated and reviewed by the Principal Officer – Bancassurance periodically.
10) Manage the claims process for all the Bancassurance Business segments through liaising with Relationship Managers, Customers and the Insurers to enable timely settlement of Insurance claims.
11) Maintaining the standing orders in the system – centralized within the Bancassurance Department and liaising with branches and customers to ensure correct Insurance premium is picked in an agreed timely manner.
12) Preparing timely Bancassurance reports i.e., daily, weekly, monthly activity and performance reports for Bancassurance Business
13) Ensure proper filing of all Bancassurance documents and correspondences appropriately
14) Regularly contact customers via telephone calls to ensure correctness in the Bancassurance Insurance premium transactions
15) Comply with the AML/CFT/CPF policies and procedures, non-compliance of which shall be addressed as per the Bank disciplinary processes.

Person Specifications Qualifications
• A bachelor’s degree in accounting, banking, statistics, actuarial science or any business-related field.
• A Certificate in Insurance or Banking from a professional Institute or Body.
• Understanding of the financial services sector, legal framework, Bank Policies and Procedures.
• Knowledge in Basic accounting principles
• Ability to analyse business opportunities and make value-adding recommendations
• Excellent relationship management skills and interpersonal skills with the ability to build long
• Demonstrate a solid awareness in operational risk and quality in driving service excellence
• Knowledge of MS Office tools (Excel, Word, Project and PowerPoint)
• Understanding of Bank products and services and knowledge of the banking operation issues in Uganda.
• Proactive and quick response to customers and employees’ queries;
• Excellent interpersonal skills;
• Fluent in the English Language and any other local language preferably Luganda particularly for explanatory purposes to Bank customers who do not understand the English Language.

Experience
• At least three (03) years working experience in banking or insurance in the areas of underwriting, claims, finance or regulation.

Behavioral competencies
• Communication skills
• Integrity and Leadership skills
• Professionalism
• Analytical skills
• Selling skills
• Organizational skills
• Creative and innovative thinking