Bancassurance Finance Specialist job at Exim Bank
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104 Days Ago
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Vacancy title:
Bancassurance Finance Specialist

[ Type: FULL TIME , Industry: Banking , Category: Management ]

Jobs at:

Exim Bank

Deadline of this Job:
Thursday, January 11 2024 

Duty Station:
Within Tanzania , Dar es Salaam, East Africa

Date Posted: Sunday, January 07 2024, Base Salary: Not Disclosed

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Participating in the development and implementation of the sales and underwriting of insurance covers, in line with the bancassurance objectives. Provision of efficient and effective insurance services. This includes ensuring that all assigned client related matters are dealt within the expected timeframes. Provision of specialist advice and support to the team including business retention thus achieving the delivery of the Business Budget as well as ensuring sustainable and profitable business operations

• Responsible for audit matters regarding Bancassurance affairs and finance related audits.
• Preparation of commission invoices after confirmation of premium paid and commission rate with insurance companies
• Income Posting (CBS) in respective GLs.
• Weekly review of GL report for posted commission Income to ensure accuracy and completeness.
• Reconciliation of all commission income related Goals as per set SOPs.
• Ensure timely collection of commissions from Insurers and properly posted in the system (CBS).
• Reconciliation of withholding tax paid.
• . Monthly report of Bancassurance premium and commission income for both Retail Banking and CIB.
• Suppliers’ payment processing and managing supplier payable
• ·Perform GL reconciliations by ensuring accuracy and timely submission as per set standards and agreed timelines.
• Perform cost analysis to ensure accurate posting and adequate monthly accruals.
• Posting of all daily, month-end and audit adjustments ensuring correct entries as well as properly supported.
• Perform month end activities inducing accrual and provisions of al monthly costs.
• GL monitoring by reviewing GL parameters and ensure existence of controls as per set SOPs.
• Assist in performing Tax activities as per allocated activities.
• Accountable for achieving annual income collection targets as cascaded from Head of Bancassurance.
• Ensure timely collection of commissions from Insurers and performing commission reconciliations as per the set standards.
• Manage customer’s queries and complaints by taking ownership and resolving in a timely manner. Act as the escalation point for their unresolved queries and
• Monitoring of progress towards achieving targets is done on weekly to monthly basis.
• Internal: Regular contact with all Branches & Departments
• External: Regular contact with existing, new customers and insurance companies.

• A good understanding of the market dynamics and customer attributes
• Analyzing, planning, organizing, Learning & Researching.
• Achieving Personal Work Goals and Objectives
• Entrepreneurial and business acumen.
• Knowledge of regulatory framework within the banking & insurance environment.
• Ability to professionally interact with external and internal stakeholders.
• Ability to work independently or as a part of a team
• Ability to accommodate operational and functional ambiguity and charge
• Proven ability to influence others and to achieve tangible business result while incorporating compliance processes, systems and resources into all aspects of corporate operations.
• Demonstrated integrity and ethical standards

Qualification and Skills
• Bachelor ‘s degree or its equivalent in insurance, bank, risk management, law, actuarial science, finance, Business Administration or related
field from recognized institution
• Minimum of 3 years’ work experience in the Insurance Industry with a key focus on Operations, Underwriting and Claims
• Minimum requirement certificate in insurance/CoP
• Excellent knowledge of insurance products and processes, regulatory requirements as well as ability to drive business performance and
• Good understanding of customer segmentation and needs as well as an in-depth knowledge of distribution channel strategies
• Sworn Declaration of good character and solvency.
• Strong passion and understanding of the insurance industry and its regulatory environment.
• Demonstrated capacity to lead, coach and supervise team members effectively
• Excellent communication and interpersonal skills, with experience of dealing with executives and clients at all levels including the capacity
to articulate risk management, insurance products & policies, underwriting & audit in the language of business.
• ACll would be an added advantage.

• Carry out work in accordance with the bank’s procedures
• Perform the assigned tasks with due diligence.
• Eliminate waste of whatever form, suggest the use of new practices and contribute to the continuous improvement of the bank.

Work Hours: 8

Experience in Months: 36

Level of Education:
Bachelor Degree

Job application procedure
To apply, please send your CV along with all academic certificates to with the subject line:

(Note: Only shortlisted candidates will be contacted)
The deadline for submitting the application is 11 January 2024.

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Job Info
Job Category: Accounting/ Finance jobs in Tanzania
Job Type: Full-time
Deadline of this Job: Thursday, January 11 2024
Duty Station: Dar es Salaam
Posted: 07-01-2024
No of Jobs: 1
Start Publishing: 07-01-2024
Stop Publishing (Put date of 2030): 07-01-2077
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