Bancassurance Operations Analyst at SBM Bank

• 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 liaise with relationship officers, underwriters, IT teams, and internal departments to resolve policy, data, and documentation discrepancies,

• Ensure all activities and duties within SBM Bancassurance are carried out in full compliance with regulatory requirements, the Enterprise-Wide Risk Management Framework, and internal SBM policies and standards.
• Identify, assess, and manage risks and risk events (incidents) relevant to bancassurance operations, ensuring timely escalation in line with SBM risk governance procedures.
• Conduct periodic checks and reviews on processes and transactions, follow up on identified gaps, and ensure timely resolution of control issues.
• Recommend risk and control improvements to enhance operational efficiency, strengthen compliance, and mitigate potential operational risks within SBM Bancassurance

• Ensure strict adherence to internal and external Service Level Agreements (SLAs) while processing customer insurance cover requests, claims, and related transactions.
• Act as an enabler and liaise with stakeholders to resolve customer queries and complaints promptly, ensuring service standards are consistently met.
• Escalate issues in a timely manner where SLA targets may be missed, minimizing customer impact

• Excellent underwriting skills and insurance product knowledge
• Effective communication and negotiating skills to deal with external service providers and customers
• Service Excellence and Problem-Solving skills
• Planning and Organizing
• Good understanding of insurance processes
• Accuracy and attention to detail
• Technological understanding (tools – Microsoft Office,)
• Resilience and ability to work under pressure

• Proven ability to work within and across teams effectively
• Technological understanding (tools – Microsoft Office, etc)
• Exposure to governance, control, and risk management
• Bancassurance experience

• A Business-Related Degree from a recognized university

• Certificate Of Proficiency (COP) qualification/ Diploma in Insurance,

• Analytical Thinking – Ability to think on their feet and resolve issues. (Level: Intermediate)
• Ethics and Values – Be ethical in dealings with internal and external parties. (Level: Intermediate)
• Communication/Relationship Management – Ability to express oneself when dealing with internal and external parties. (Level: Advanced)
• Leadership – Ability to take charge of situations, assess what can be done with the team, and what needs to be escalated to relevant parties. (Level: Intermediate) Resilience – Agility and ability to work in a volatile, uncertain, complex, and ambiguous environment. (Level: Intermediate)

• Insurance Knowledge – Understand basic insurance concepts that apply to insurance related interactions. (Proficiency level: Novice)
• Use of Analytical Tools – Technical understanding of analytical tools e.g. Microsoft
• Office Suite, Power BI, etc.

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