VP, Bancassurance Business Strategist

Sun Life Malaysia Assurance Berhad; Kuala Lumpur; On-site; MYR 300,000 - 450,000; Full time

Job summary

Sun Life Malaysia Assurance Berhad is seeking a strategic leader to grow the bancassurance business by maximizing the CIMB partnership and originating new partnerships beyond CIMB to diversify and expand the company’s distribution ecosystem.

You will develop and execute a 3–5 year strategic roadmap for bancassurance growth, expand the partnership ecosystem, and strengthen executive relationships while delivering initiatives to improve customer acquisition and market presence.

Qualifications

• Bachelor's Degree in Business, Finance, Marketing, Insurance, or a related field.
• Minimum 12 years of bancassurance, partnership management, business development, or financial services experience.
• Proven track record in developing and managing strategic partnerships and driving business growth.

Responsibilities

• Lead CIMB Bancassurance Strategy & Growth, optimize the CIMB partnership profitability.
• Identify and onboard new strategic partners beyond CIMB to diversify distribution.
• Develop 3–5 year strategic roadmap for bancassurance growth and market expansion.
• Strengthen executive-level relationships with key partner organizations.
• Governance: establish KPIs, ensure regulatory and policy compliance, monitor progress.

Skills

Strategic thinking

Stakeholder management

Business development

Commercial acumen

Education

Bachelor's Degree in Business, Finance, Marketing, Insurance, or related field

Job description

Lead the strategic growth and development of Sun Life Malaysia's bancassurance business by maximizing the value of the CIMB partnership and originating new partnership opportunities beyond CIMB to diversify and expand the company's distribution ecosystem.

• Achieve agreed business growth and profitability targets for the CIMB partnership.
• Develop and execute a 3-5 year strategic roadmap for bancassurance growth.
• Expand the organization's partnership ecosystem through identification and onboarding of new strategic partners.
• Deliver strategic initiatives that enhance customer acquisition, penetration, and market presence.
• Strengthen executive-level relationships with key partner organizations.

Major Accountabilities

CIMB Bancassurance Strategy & Growth Leadership

• Develop and execute comprehensive business strategies to accelerate growth, market share, and profitability of the CIMB bancassurance partnership.
• Partner closely with CIMB senior stakeholders to identify strategic opportunities and strengthen the long-term partnership.
• Lead annual and multi-year business planning, including sales targets, growth initiatives, customer acquisition strategies, and strategic priorities.
• Conduct portfolio performance reviews and recommend strategic interventions to improve productivity and business outcomes.
• Identify new revenue streams and innovative customer solutions within the CIMB ecosystem.
• Prepare strategic business reviews, executive presentations, and partnership performance updates for internal and external stakeholders.
• Influence senior decision-makers to align partnership strategies and business priorities.

Strategic Business Development

• Lead the identification, assessment, and pursuit of new partnership opportunities beyond CIMB.
• Evaluate potential collaborations with banks, digital banks, fintech companies, e-wallet providers, telecommunications companies, ecosystem partners, and affinity organizations.
• Build and maintain a robust partnership pipeline aligned with the company's strategic growth ambitions.
• Conduct commercial feasibility studies, business case evaluations, and partnership due diligence.
• Lead negotiations and strategic discussions with prospective partners.
• Monitor industry trends, regulatory developments, customer behaviors, and competitive activities within the life insurance and bancassurance sectors.
• Identify emerging opportunities and risks affecting partnership distribution channels.
• Generate actionable insights and strategic recommendations for senior management.
• Benchmark partnership performance against industry best practices and competitors.

Governance & Performance Management

• Establish strategic KPIs and business performance metrics for partnership channels.
• Ensure all partnership initiatives comply with regulatory requirements, governance practices, and company policies.
• Monitor strategic project execution and ensure delivery against agreed timelines and objectives.
• Provide regular reporting and strategic insights to the Chief Partnership Officer and Executive Committee where required.

Qualification and experience

• Bachelor's Degree in Business, Finance, Marketing, Insurance, or a related field.
• Minimum 12 years of experience in bancassurance, partnership management, business development, or financial services.
• Proven track record in developing and managing strategic partnerships and driving business growth.
• Strong commercial acumen, strategic thinking, and stakeholder management capabilities.
• Experience working with banking partners and distribution channels within the insurance or financial services industry is highly preferred.