Summary
Date Posted: Tuesday, September 07, 2021 , Base Salary: Not Disclosed

JOB DETAILS:
Organization Profile:
Prudential provides protection and savings opportunities to customers, social and economic benefits to the communities in which it operates, jobs and opportunities to its employees and financial benefits for its investors. By offering security, pooling savings, and making investments, Prudential helps to maintain the cycle of growth. The company’s strategy is designed to create sustainable economic value for its customers and shareholders.
The company continues to develop its businesses in new markets in Africa, building on the success of its other regional models, particularly Asia. Currently, the company has a footprint in eight countries: Uganda, Kenya, Ghana, Zambia, Nigeria, Cameroon, Cote d’ Ivoire and Togo.

Background and Purpose:
Prudential Life Assurance Kenya Limited was established in September 2014 following Prudential’s full acquisition of Shield Assurance Life Business. Over the last 7years, we focused mainly on legacy benefits payment, building relationships, new individual life products development, product launches and establishing the necessary technology and human infrastructure to support the future growth of the business. In the last 3 years, our corporate business has experienced significant growth and we now wish to leapfrog this growth with a deeper focus on differentiated offerings through brokers, independent agents and banks. In order to support the sustainable growth of the corporate business and achieve our year-on-year revenue target, vision and strategy, we are looking for a seasoned insurance industry professional to fill the position of Head Bancassurance Strategy and Partnership Distribution.

Role Purpose:
• Drive Prudential Africa’s strategic and commercial agenda for Regional Partnership, a multi country partnership, with accountability for delivery of agreed KPIs and business plan targets.
• Be a business partner to specific group of countries in establishing and executing Partnership Distribution strategies with local partnerships
• Provide business management and relationship management to key strategic stakeholders in the region and Local Business Units (LBUs)
• To govern the relationship through the effective use of the Regional Steering Committees and Local Steering Committees to ensure compliance with the cooperation agreement, manage disputes to resolution and steer partnerships to deliver the business goals agreed.

Organization Context:
Management of regional and local Bancassurance partnership in selected markets, highly complex with processes to comply with and strategic in managing senior stakeholders in both Prudential Africa, LBUs and regional partners

Role Context
The role requires stakeholder management with bank partner and key divisions in Prudential Africa and LBUs as well as developing and executing on the Target Operating Model, working closely with LBUs to optimize sales productivity, lead product development & differentiation, identify new opportunities, segments, channels and digital enablement with the bank and ensure delivery of business plan.

Key Accountabilities and Performance Measures Impacted
Key Accountabilities
Performance measures
1. Manage the preparation, approval and execution of annual business plans with assigned LBU’s; Drive delivery of contracted targets, with focus on distribution initiatives, product delivery, marketing and digital tools, new channel expansion.
• Approved business plans for each market by Regional Steering Committee, Prudential Africa Insurance Management and local BU
• Delivery of plan KPIs
2. Day to day ‘ownership’ of the Regional partnership account with focus on building collaborative relationships with key executives and delivery (in conjunction with LBU teams) of strategic objectives and consolidated partnership sales results
• Established formal meetings with LBUs and regional partner executives
3. Monitor and review agreed business plan KPIs, highlighting any risks to plan delivery and agree actions with LBUs and regional management to resolve any performance issues
• Creation of a monthly report of KPIs and performance from LBU
• Execution on agreed action plans that are based on specific performance measures
4. Work closely with LBUs and local partners to drive sales productivity and implement appropriate infrastructure for effective performance management. Resolve any operational matters at the LBU level
• Resolved business issues that are agreed and implemented and show measurable performance results
5. Identify and lead business development opportunities within existing relationships in areas of digital approach, deepen customer penetration as well as driving health and protection agenda
• Increase distribution channels and access to new customer segments
6. Schedule and Manage regular Regional Steering Committee (RSC) and Working Committee meetings in conjunction with the Partner, prepare business updates and ensure partnership governance
• Manage account governance with regional steering and working committees
• Provide documented results of meetings and follow up on actions and issues
7. Provide leadership for assigned projects to enhance the capability of the Regional PD and improve effectiveness
• Lead key regional initiatives

Experience and Competencies
• 10 years of relevant insurance/financial industry experience
• Experience in leading Digital projects and bancassurance business
• Effective communicator with good influencing and stakeholder management capabilities
• Knowledge and experience working in local business unit
• Strong insurance business acumen
• Energetic, forward-thinking, and creative. Resilient in the face of opposition
• A well-organized and self-directed individual. Self-starter who does not wait for things to happen but will make things happen.
• Team player, able to demonstrate strong collaboration with peers and across other functions
• Ability to monitor, analyze and report product performance.
• Strong stakeholders management skills/experience
• Relationship management skills
• Ability to successfully deliver high quality outputs under time pressure.
• Agility in learning and delivery focused.
• Accountability, ownership, and leadership in and outside of role remit
• Working under ambiguity, and being able to provide clarity and direction for others

Academic and Professional Qualifications
• Master’s in business administration
• Bachelor’s Degree in business related field
• Insurance Professional Qualification – FLMI/ACII desired
• Project management certification desired

Work Hours: 8

Experience in Months: 120

Level of Education: Bachelor Degree

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Job application procedure
We encourage candidates with the above requirements to send their applications to pruhr@prudentiallife.co.ke by 15th September 2021. Only shortlisted candidates will be contacted. Prudential Life Assurance Kenya (PLAK) recognizes and values the fact that the inclusion of a diversity of skill sets, and backgrounds enriches the organization and that leveraging the unique strengths of each person is crucial to our continued success. Furthermore, the Company provides Equal Opportunities to employees & candidates in an environment in which each is treated with dignity and respect.

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