VACANCY: HEAD OF BUSINESS DEVELOPMENT
REPORTING TO: CHIEF EXECUTIVE OFFICER
Britam is a leading diversified financial services group, listed on the Nairobi Securities Exchange. The Group has interests across the East African Region and offers a wide range of financial products and services in Insurance, Asset Management, Banking, and Property. The product range includes life, health and general insurance, pensions, unit trusts, investment planning, wealth management, off-shore investments, retirement planning, discretionary portfolio management, property development, and private equity.
We wish to fill the above position in our Rwanda Subsidiary – Britam Insurance Company (Rwanda) Ltd. Only Rwandese candidates are eligible.
The jobholder role is responsible for overseeing the overall sales and distribution strategy for the company from planning, execution and periodic review and delivery of the sales budget. In addition, He/she is responsible for coordinating all the distribution channels including, brokers, agents, branches, banks and direct clients to ensure alignment to corporate strategy and growing the business profitably.
- Oversee the development, implementation and periodic review of company sales strategic plan.
- Guide the sales team to ensure the company grows and defends its market share.
- Overall responsibility for directing, guiding, managing and supporting the sales team to ensure the team achieves agreed sales targets.
- Overall responsibility for determining staff requirements, recruitment, training, performance evaluations and career development for the sales team to ensure the company attracts, motivates and retains high performing sales staff.
- Oversee the monitoring of customer preferences to determine the focus of sales efforts and segmentation of the market to offer tailor-made products and services.
- Liaise with operations team to manage the quality of business, retention of an existing business, collection of premiums from brokers/agents, productivity and overall sales performance of each distribution channel.
- Oversee the gathering of market intelligence statistics to facilitate the development of strategies to give the company a competitive advantage in its product offering.
- Ensure good relationship with brokers, agents, and corporate clients through excellent customer service, handling customer complaints and organizing meetings with current and prospective customers.
- Participate in new product design and launch to ensure client needs are addressed.
- Manage sales costs to ensure profitability.
- Deliver on performance requirements as defined in sales department strategy map, balanced scorecard and personal scorecard.
Key Performance Measures
- Revenue budget.
- A number of intermediaries with profit-based incentive schemes.
- Percentage growth in revenue from selected top intermediaries.
- A number of new productive intermediaries recruited.
- Retention ratio per channel.
- Percentage of key talent retention.
- Percentage of intermediaries trained on product lines and cross selling techniques.
- Percentage completion of client segmentation.
Working Relationships – Internal & External
The Head of Business Development will be:
- Accountable to the Chief Executive Officer.
- Responsible for the following:
- Business Development Manager-Broking, Direct, and Bancassurance.
- Agency Development Manager.
- Branch Managers.
- Required to liaise and work closely with the other staff members across the business.
- Insurance sector players.
- Britam customers.
Knowledge, experience, and qualifications required
- Bachelor’s degree (marketing option preferred). MBA is an added advantage.
- Seven years of successful sales management experience three of which must be in a management position (Financial services and FMCG sector preferred);
- Proven experience as a Sales Manager within Financial services and FMCG industry.
- Extensive experience in ensuring sales targets are met through managing the entire sales process from prospecting to closure.
- A demonstrated track record in sales to enhance the overall top-line performance of a company.
- Deciding and Initiating Action – Ensures key departmental objectives are met, takes responsibility for decisions, actions, projects and people while focusing on achievement of departmental results; takes initiative and works under own direction; initiates and generates activity; makes quick, clear decisions with limited information available which may include tough choices or considered risks; decisions and actions take into account possible impact on all parts of the business.
- Leading and Supervising – Provides the department with a clear direction based on the overall strategic intent of the organisation; Building high expectations about the success of the department; motivates and empowers others with a clear sense of purpose; creates a positive departmental climate that fosters learning and development; acknowledges high potential talent; Recognize the potential of individuals sets and articulates the vision and values through own personal behaviour; Push autonomy and empowerment downwards through the department.
- Persuading and Influencing – Gains clear agreement and commitment from others by persuading, convincing and negotiating to the benefit of the department; promotes the organisational strategy during departmental conversations; makes effective use of political processes to influence and persuade others; promotes ideas on behalf of the department and the organization; makes a strong personal impact on others; takes care to manage the department’s impression and brand on others.
- Formulating Strategies and Concepts – Works strategically to realise organisational goals within the department; sets and develops departmental strategies; identifies and develops positive and compelling visions of the department’s future potential; Ensure departmental Balanced Score Card objectives and KPI’s are met and Exceeded; Ensure Personal Scorecard Objectives are met and exceeded; takes account of a wide range of issues across, and related to, the organisation; Work with direct reports to ensure the cascading of the strategic plan into integrated departmental plans that are meaningful to individuals; encourages others to take a strategic and long-term view in terms of the department’s future; Emphasise the impact and importance of individual contributions to the successful implementation of the organizational strategy in the department; Evaluate my own and others’ performance fairly and objectively; communicates the organisational strategy, vision and objectives effectively across all levels in the department.
- Entrepreneurial and Commercial Thinking – Keeps up to date with competitor information and market trends; identifies business opportunities for the department; maintains awareness of developments, changes, Add value to the department by capitalizing on new business opportunities; trends and possible risks in the department’s structure and politics; demonstrates financial awareness; Identify ways to increase the Britam competitive advantage, exploiting those that will bring the greatest return within an acceptable level of risk; ensures costs are monitored and controlled and thinks in terms of profit, loss and added value; Ensure that sufficient data about financial and other parameters of departmental performance are available; Interpret departmental information objectively against appropriate benchmarks.
- Planning and Organising – Sets clearly defined departmental objectives; plans activities and projects well in advance and takes account of possible changing organizational and market circumstances; identifies and organizes resources needed to accomplish projects; manages time effectively; monitors departmental performance against deadlines and milestones.
How to Apply
If you believe you are the right candidate for the above position and can clearly demonstrate your ability to meet the criteria, please submit your online application to us on or before Friday, 6 th September 2019, at https://www.britam.com/careers