Role Overview
The Bancassurance Operations Analyst supports SBM Bancassurance operations by ensuring accurate client onboarding, insurance policy processing, premium receipting, and secure data migration across systems. Reporting to the Head of Bancassurance, the role holder will execute day-to-day operational tasks efficiently and in line with Service Level Agreements (SLAs), underwriting standards, and regulatory requirements. The role focuses on maintaining high data integrity, supporting compliance processes, and delivering reliable operational and client service support to ensure effective delivery of bancassurance solutions.
Key Responsibilities
Operational Accountability (50%)
- Process all customer insurance cover requests, submit to respective insurers, and obtain cover confirmations within agreed Service Level Agreements (SLAs).
- Create and onboard new insurance clients in line with Know Your Customer (KYC) requirements, regulatory guidelines, and internal bank policies.
- Capture, update, and maintain client and policy information on Bancapro in accordance with approved underwriting guidelines and internal procedures.
- Review client and policy documentation to ensure completeness, accuracy, and compliance with underwriting and regulatory standards.
- Prepare and circulate declaration reports and follow up with underwriters and designated stakeholders within set SLAs.
- Maintain and update manual and system databases to ensure accurate, complete, and timely information availability.
- Collate data and process unutilized premium refunds in a timely and accurate manner.
- Communicate with branches and customers on premium refunds, especially where beneficiary details are missing or insufficient.
- Perform monthly production and premium reconciliations for various underwriters and prepare reconciliation reports.
- Maintain reconciliation issue logs, circulate to stakeholders, and follow up to ensure timely resolution.
- Monitor outstanding premiums, identify policies due for action (renewal, cancellation, or follow-up), and engage relevant stakeholders.
- Respond to reconciliation-related queries and demand notices from underwriters within agreed timelines.
- Log insurance claims with providers and follow up to closure, ensuring stakeholders are regularly updated.
- Manage customer and internal stakeholder queries and complaints within agreed SLAs.
- Support User Acceptance Testing (UAT) activities and resolve discrepancies involving relationship officers, IT teams, and underwriters.
Risk and Control Rigor (30%)
- Ensure all activities are carried out in full compliance with regulatory requirements, the Enterprise-Wide Risk Management Framework, and internal SBM policies.
- Identify, assess, and manage risks relevant to bancassurance operations and ensure timely escalation.
- Conduct periodic checks and reviews on processes to identify gaps and ensure timely resolution of control issues.
- Recommend improvements to enhance operational efficiency and mitigate risks.
Customer Experience (20%)
- Adhere to internal and external SLAs while processing customer insurance cover requests and claims.
- Act as an enabler to resolve customer queries and complaints promptly.
- Escalate issues in a timely manner where SLA targets may be missed to minimize customer impact.
Requirements and Skills
- Education: A Business-Related Degree from a recognized university.
- Certification: Certificate Of Proficiency (COP) qualification or Diploma in Insurance is an added advantage.
- Skills: Excellent underwriting skills, insurance product knowledge, and effective negotiation skills.
- Technical Proficiency: Proficiency in Microsoft Office Suite and analytical tools like Power BI.
- Competencies: Analytical thinking, ethics, leadership, and resilience in complex environments.
- Experience: Bancassurance experience or exposure to governance, control, and risk management is preferred.
How to Apply
Interested and qualified? Go to SBM Bank on MyJobMag to apply or visit the official website at www.sbmbank.co.ke.
