Overview
Head, Bancassurance (Lagos) Jobs in Nigeria at Ecobank Nigeria
Title: Head, Bancassurance (Lagos)
Company: Ecobank Nigeria
Location: Nigeria
Job Description
JOB DESCRIPTION
- Strategy execution & business growth
- Lead the execution of the Nigeria Bancassurance strategy in full alignment with Group priorities, ensuring consistent translation of strategic objectives into actionable country-level initiatives.
- Drive insurance penetration across all customer segments by integrating insurance propositions into core banking products, customer journeys, and lifecycle engagement points.
- Scale standalone insurance sales across all distribution channels by activating frontline teams and embedding insurance into both physical and digital sales processes.
- Deliver sustainable revenue growth in line with agreed targets by optimizing product mix, improving conversion rates, and strengthening renewal income streams.
- Drive product innovation and localization by adapting Group solutions to the Nigerian market context and identifying new opportunities aligned to customer needs and regulatory requirements.
- Distribution & sales enablement
- Embed Bancassurance as a core performance metric across all frontline channels, ensuring insurance is actively sold / referred alongside core banking products and services.
- Build and sustain a high-performance sales culture by aligning incentives, reinforcing accountability, and driving consistent execution across branches, RMs, DSAs, and digital channels.
- Strengthen capability building programs through structured training, certification, and ongoing coaching to enhance product knowledge and sales effectiveness.
- Support frontline teams through joint client engagements, provision of sales tools, and access to insurance specialists to improve conversion and customer outcomes.
- Drive digital enablement by integrating insurance into digital channels and platforms, enabling seamless customer journeys, self-service capabilities, and improved scalability.
- Partnerships & commercial management
- Manage strategic relationships with insurance partners, ensuring alignment to business objectives, service standards, and long-term growth ambitions.
- Negotiate and continuously optimize commercial terms to ensure competitiveness, profitability, and alignment with market benchmarks and internal expectations.
- Drive partner accountability through clearly defined SLAs, regular performance reviews, and enforcement of agreed service delivery standards.
- Identify and onboard new partners where necessary and in line with the Group’s Bancassurance Framework to strengthen product offerings, enhance competitiveness, and address gaps in capability or market coverage.
- Customer value proposition & product management
- Develop and continuously refine compelling customer value propositions that address the needs of different segments and enhance the overall customer offering.
- Ensure all products are relevant, competitive, and fully compliant with regulatory requirements, internal policies, and customer protection standards.
- Drive product rationalization by simplifying the product suite, focusing on high-impact offerings, and eliminating duplication or underperforming products.
- Monitor and continuously improve customer experience across the insurance lifecycle, including onboarding, servicing, claims, and renewals.
- Performance management & business intelligence
- Track and monitor key performance metrics across products, channels, and segments to ensure delivery against business targets and strategic objectives.
- Implement robust reporting dashboards and management information systems to provide timely, accurate, and actionable insights.
- Drive data-led decision-making by leveraging analytics to identify trends, optimize performance, and inform strategic interventions.
- Provide comprehensive monthly performance reporting to country and Group stakeholders, highlighting progress, risks, and corrective actions.
- Ensure revenue assurance by validating commission flows, minimizing leakage, and maintaining transparency in financial performance.
- Risk, governance & compliance
- Ensure full compliance with all local regulatory requirements, Group policies across all activities.
- Adherence to the Group Bancassurance Framework, including governance, product approval, sales conduct, and partner management standards.
- Proactively manage conduct risk by ensuring fair customer treatment, appropriate sales practices, and transparent disclosures across all channels.
- Maintain strong internal controls and audit readiness by ensuring proper documentation, monitoring, and timely resolution of identified gaps.
- Stakeholder management & leadership
- Act as the country lead for Bancassurance, providing clear direction, leadership, and accountability for business performance and execution.
- Engage effectively with key stakeholders across the bank, including business heads, risk, compliance, finance, and operations, to ensure alignment and support.
- Collaborate closely with Group Bancassurance and other central teams to drive consistency, leverage best practices, and deliver on strategic priorities.
- Lead, develop, and motivate the Bancassurance team, building a strong talent pipeline and fostering a high-performance and inclusive culture.
Education & Experience
- Bachelor’s degree required.
- Professional Insurance qualifications a must-have.
- 12–15 years’ experience.
- Strong knowledge of the Nigerian Insurance industry.
Key competencies
- Strategic thinking
- Commercial acumen
- Bancassurance expertise
- Data-driven mindset
- Leadership capability
- Governance discipline
Success measures
- Revenue growth
- Increased penetration
- Channel productivity
- Customer experience improvement
- Partner performance
- Compliance adherence