Unit Manager: Life and Wealth
Insurance giant based in Fourways urgently seeks to appoint a highly skilled and qualified Unit Manager for the Life and Wealth department.
The Unit Manager is responsible for the execution of sales and distribution strategy, tactically and strategically positioning the sales and distributions channels in the life insurance and wealth market and growing market share. To facilitate significant growth in the business through growing the broker business and implementation of the distribution models.
Functional Strategy Execution
Lead the development and implementation of strategy for a significant area of responsibility, anticipating complex issues, challenges, and opportunities, and ensuring integration with wider corporate strategy.
Leadership and Direction
Communicate the function's strategy and its relationship to the organization's mission, vision and values; clarify the actions needed to implement it within the area of responsibility; motivate people to commit to these and to doing extraordinary things to achieve the organization's business goals. Manage and grow the broker and alternative distribution channels: Life & Wealth broker distribution. Oversee Account Management / Broker Consultant team.
Meet and exceed growth objectives in all product lines through different product distribution teams / channels. Effectively align channel objectives to overall organisational / business objectives in order to exceed sales and profit targets. Define, develop and implement the Sales Strategy to meet business growth requirements. Successfully implement channel initiatives and projects, ensure that profit targets are exceeded in line with the commercial business cases. Gear sales targets to meet business growth requirements. Quantify business outcomes (i.e. revenues or other key performance indicators); detail expense and headcount budgets; and develop business cases for key projects, ensure cross-functional integration.
Identify and manage stakeholders up to top management level, finding out their needs/issues/concerns and reacting to these by leading and coordinating the development of stakeholder engagement plans to support the communication of business information and decisions.
Third Party Sales
Oversee third party sales of complex, often customized products and services to significant customers and/or manage a significant sales department.
Building Evaluate the capabilities of staff within the department to identify gaps and prioritize development activities. Implement the organization's formal development frameworks within the area of responsibility. Coach and mentor others to support the development of the organization's talent pool.
Enable team through required business processes, systems, knowledge, etc. Ensure alignment of scorecards to overall business drivers and customer experience focus. Enable strategic and operational efficiencies and re-engineering. Ensure effective implementation and management of performance results to foster a high-performance culture. Manage, monitor and ensure that exceptional customer service is delivered across the sales and distribution channels.
Personal Capability Building
Act as subject matter expert in an area of technology, policy, regulation, or operational management for the team and beyond in the function. Maintain external accreditation and in-depth understanding of current and emerging technologies, external regulation, and industry best practices through continuing professional development, attending conferences, and reading specialist media.
Compliance and Commission Risk Management & Analysis
Develop and/or deliver a contingency plan for significant aspects of the risk management (eg. commission risk, compliance risk) and/or control process. Track and monitor the adherence of the compliance processes and procedures.
Monitor the implementation and oversee the Life and Wealth Team.
Education and Experience
Relevant Marketing or Commercial degree / diploma or Business Administration qualification
RE1 and RE5 Essential); CFP or a post graduate qualification (Advantageous); South African Institute of Financial Markets
5-7 years Broker distribution management experience in life insurance (risk and investments) (Essential)