Business Development Manager (Bancassurance)

The Great Eastern Life Assurance Company Limited; Singapore; On-site; SGD 60,000 - 90,000; Full time

Job summary

The Great Eastern Life Assurance Company Limited is seeking a Bancassurance-focused professional in Singapore to maximize sales channel effectiveness through strong stakeholder partnerships, training, and strategic development.

You will support marketing strategies, product launches, and collaborations with OCBC Wealth Management, driving growth and customer value within the assigned cluster.

Qualifications

• Diploma or degree in Banking/Finance is required.
• Knowledge of Life Insurance concepts Bancassurance products and market trends.
• Strong communication and interpersonal skills are essential.
• Performance-driven mindset and being a team player are important.
• CMFAS Certifications (M5, M9, M9A, HI) are required or preferred.
• Demonstrates integrity, accountability, and adaptability.

Responsibilities

• Train new advisors to enhance Bancassurance product knowledge.
• Monitor Bancassurance product sales and trends in the cluster.
• Assist in developing marketing strategies and plans to increase sales.
• Engage strategic distribution partners and build relationships.
• Conduct product launches and trainings with guidance.
• Collaborate with OCBC Wealth Management and other departments on promotions.

Skills

Strong communication

Interpersonal skills

Team player

Willing to learn

Education

Relevant Diploma / Degree in Banking / Finance

Tools

CMFAS Certification

Job description

You will be responsible to maximize the effectiveness of Bancassurance’s sales channel through strong stakeholder partnerships, sales enablement, and business development initiatives that increase insurance penetration, customer value, and revenue growth of the assigned cluster.

• Conduct training for new advisors to enhance their skills and knowledge on Bancassurance products
• Monitor individual cluster Bancassurance product sales and trends
• Assist in the development of marketing strategies and action plans to increase sales and penetration into market
• Gather market intelligence by building and tapping on internal and external networks
• Participate in monthly discussion with OCBC Wealth Management on consumer promotion mechanics
• Assist in handling Consumer Promotion Exceptional Approvals for OCBC network
• Assist in regular tracking and update to OCBC Wealth Management and Cluster Managers on the cluster exceptional approvals budget
• Assist in reviewing Bancassurance Framework SOP
• Liaise and work closely with back office to ensure excellence in service delivery
• Liaise and work closely with New Business Underwriting Department and Customer Service, etc. for case management
• Engage and build relationships with strategic distribution partners
• Conduct product launches and product trainings with guidance
• Participate in joint committee projects for OCBC Achievers Convention and other ad-hoc projects
• Conduct cluster meetings and presentations on products, performances, changes pertaining to business development]

Academic Requirement:

• Relevant Diploma / Degree in Banking / Finance
• Knowledge on:
• Life Insurance conceptsBancassurance products and market trends
• Possesses strong communication and interpersonal skills
• Performance Management driven & a team player
• Willing to learn and adaptable
• Ability to carry oneself confidently
• Others: • CMFAS Certification (i) M5 - Rules and Regulations for Financial Advisory Services (ii) M9 - Life Insurance and Investment-Linked Policies (iii) M9A - Life Insurance and Investment-Linked Policies II (iv) HI - Health Insurance]

• Champion and embody our Core Values in everyday tasks and interactions.
• Demonstrate high level of integrity and accountability.
• Take initiative to drive improvements and embrace change.
• Take accountability of business and regulatory compliance risks, implementing measures to mitigate them effectively.
• Keep abreast with industry trends, regulatory compliance, and emerging threats and technologies to understand and highlight potential concerns/ risks to safeguard our company proactively.

Founded in 1908, Great Eastern is a well-established market leader and trusted brand in Singapore and Malaysia. With over S$100 billion in assets and more than 16 million policyholders, including 12.5 million from government schemes, it provides insurance solutions to customers through three successful distribution channels – a tied agency force, bancassurance, and financial advisory firm Great Eastern Financial Advisers. The Group also operates in Indonesia and Brunei. The Great Eastern Life Assurance Company Limited and Great Eastern General Insurance Limited have been assigned the financial strength and counterparty credit ratings of "AA-" by S&P Global Ratings since 2010, one of the highest among Asian life insurance companies. Great Eastern's asset management subsidiary, Lion Global Investors Limited, is one of the leading asset management companies in Southeast Asia. Great Eastern is a subsidiary of OCBC, the longest established Singapore bank, formed in 1932. It is the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.

:SG-GE Centre

:Bancassurance