DirectAxis a subsidiary of FirstRand Bank Ltd and top performing Financial Services Company based in Cape Town has an exciting opportunity for a Business Centre Leader in \u201cFee income\u201d division, responsible for Short Term insurance, reporting to the Head of Fee Income. This position is responsible to drive financial performance and profitability of the business as well as managing and improving the distribution and operational model across the short term insurance businesses. Fee Income is the division at Direct Axis that is responsible for the distribution of value added products to prospective and existing loan customers. This includes short term and long term insurance products but also health solutions and other complimentary products. Fee Income also manages a range of joint ventures with affinity partners, both upstream and downstream. The position requires a commercially driven, solutions focused, self-motivated and dynamic individual, who has the ability to understand analyses and act upon the key business levers.<\/p>\n
\u2022 BCom or equivalent university level qualification (advantageous) <\/p>\n Experience<\/strong><\/p>\n \u2022 5+ years management experience in short term insurance (i.e. sales, distribution and operational experience in various degrees) <\/p>\n Duties & Roles <\/strong><\/p>\n \u2022 To grow the Short Term Insurance book and increase monthly sales consistently <\/p>\n
\nRequirements <\/strong><\/p>\n
\n\u2022 Excellent communication, negotiation and stakeholder management skills
\n\u2022 Knowledge of Short Term Insurance
\n\u2022 Relevant Insurance credits
\n\u2022 Knowledge of distribution model in Short Term Insurance, including dealer networks, broker distribution and direct marketing
\n\u2022 Good sales acumen<\/p>\n
\n\u2022 Managed relationships with stakeholders and joint venture partners
\n\u2022 Excellent understanding and existing relationships with larger car dealer networks
\n\u2022 Key Individual for Short Term insurance or willing to write relevant exams
\n\u2022 Preferable grown throughout career via the sales ranks
\n\u2022 Good understanding of digital platforms and aggregator models<\/p>\n
\n\u2022 Achieve budget in terms of profits and sales volumes for Short Term Insurance
\n\u2022 To grow and expand on the service offering to JV partners, resulting in increased sales volumes
\n\u2022 To increase the number of Joint Venture partners and underwriters that Fee Income (Short Term Insurance) deals with
\n\u2022 Develop new Short Term Insurance, including auxiliary, products to ensure DA remains competitive in the market
\n\u2022 To use the financial reports to review budget performance in order to make informed decisions about financial elements pertaining to Short Term Insurance
\n\u2022 Authorisation of expenses for the Short Term Insurance department at appropriate levels of income i.e. adhering to maximum commission and broker fee regulations
\n\u2022 Comply with relevant legislation and regulations applicable to the insurance\/broker industry (e.g. FSB, MSA, etc.) and general codes of conduct (e.g. TCF, POPI, etc.)
\n\u2022 Appropriate management of all stakeholders including negotiating commercial terms
\n\u2022 To assess, develop and implement the appropriate IT systems for Short Term Insurance (including improvements in the Quoting Platforms) aligned to the broader DA strategy
\n\u2022 Ensure appropriate\/optimal resources (people and Infrastructure) are in place and overall management of resources for the effective functioning of the division
\n\u2022 Ensure that succession plans are in place (successors and scare resources), performance management criteria are met in all respects and mentoring\/coaching takes place on monthly basis
\n\u2022 Development of productive relationships with underwriters and product development houses
\n\u2022 Productive liaison with on-the-floor underwriters
\n\u2022 Overseeing of development and implementation of relevant product and agent training<\/p>\n