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Job Description General Description:
This role supports the growth of Bank partnerships and optimizing the penetration and business opportunity across all partnerships, with the exclusion of one key partnership.
This role is accountable for planning (with business units and bank partners) to optimize bancassurance distribution. The role also supports the planning and execution in the business units (BUs) to achieve the overall objectives and deal targets. This role will also drive bancassurance distribution strategy development and execution and advise country BUs in setting their own Bancassurance partner development and optimization plans. Finally, this role will also be responsible to lead specific key initiatives, as jointly determined with the Chief Bancassurance Officer from time to time, in collaboration with individual BUs and other departments.
In some cases, this role will require in country work to help the BU implement key initiatives, such as the onboarding of a new partner.
Partner with BUs and engage with key stakeholders regionally and locally (business, Product, Channel, Delivery, Asset Management, Control and other support functions) to plan and support the delivery and execution of financial and growth targets (APE, NBV). Focus areas such as:
Lead generation and Sales Models: work with Bancassurance Heads to build the best-in-class multi-channel insurance distribution model. Increase productivity within the Affluent / HNW segments and co-develop sales models for personal banking (branch F2F). Drive Mass Protection growth agenda to increase Insurance penetration.
Relationship building and development: with key bank partners at various levels.
Sharing and success transfer: Actively share lessons learnt and success stories across BUs to drive synergy and growth initiatives.
Sales Process: work with Bancassurance teams to simplify sales journeys and improve efficiency and effectiveness, while enabling multiple needs fulfillment. Co-develop insurance sales processes that meet regulatory, compliance, financial planning standards and improve customer experience. Meet regularly with Manulife and Bank sales staff to develop a good understanding of the support required to support and grow sales and enhance the customer experience.
Sales Productivity: establish a jointly agreed activity management, Lead Generation framework. Standardize the measure of sales staff productivity (Insurance Specialist/ bank staff) thus resulting in higher qualified leads, conversion ratio, participation rate. Partner with Regional Analytics team to design and implement regional/local campaigns underpinning customer engagements.
Learning & Development: Partner with Regional Training to set up comprehensive/standardized Insurance Learning & Development framework, directly linked to Referral programs, Activity Management, including training, coaching and upskilling of sales staff.
Sales Support: Build product and sales support feedback loops back into Regional / Local team. Work with MAM, Channel Delivery teams to provide enhanced sales and marketing materials/toolkits, updates to Bancassurance Heads. Providing channel delivery support and sales tools in coordination with Transformation team e.g. Protection Gap Calculator, e-POS, Lead Tracking System, Activity Management System.
Compensation & Benefits: Partner with Regional Compensation team on developing and accessing compensation and incentive of sales manages and insurance specialists to enhance productivity.
Governance: ensure that a robust Distribution and Sales conduct agenda is fully implemented.
Sales performance analysis and insights
Management of specific distribution initiatives
BU and bank partner account management (in partnership with the BUs)
Key Shared Accountabilities:
Sales planning - joint with BU, Bancassurance Heads, Product, Marketing and other functions.
Support & collaboration - products, sharing across BUs, training tools and other coordination with BUs and regional functions.
Minimum of 10-12 years in financial services in relevant roles with 3-4 years of experience in insurance related management consulting firm preferable
MBA or a comparable graduate degree
Strong analytical and problem-solving skills
Very strong communication, relationship and influencing skills (BUs, partners and regional office functions)
Strong knowledge of the insurance and wealth management industry with some experience of banking but very strong insurance experience across bancassurance, product and other areas like analytics, marketing and digital would be most useful.
If you are ready to unleash your potential it's time to start your career with Manulife/John Hancock.
About Manulife Manulife Financial Corporation is a leading international financial services group that helps people achieve their dreams and aspirations by putting customers' needs first and providing the right advice and solutions. We operate as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2016, we had approximately 35,000 employees, 70,000 agents, and thousands of distribution partners, serving more than 22 million customers. At the end of 2016, we had $977 billion (US$728 billion) in assets under management and administration, and in the previous 12 months we made almost $26 billion in payments to our customers.
Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.
Manulife is committed to supporting a culture of diversity and accessibility across the organization. It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will consult with applicants contacted to participate at any stage of the recruitment process who request an accommodation. Information received regarding the accommodation needs of applicants will be addressed confidentially.
Internal Number: 5245011
About Manulife Hong Kong
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