Senior Business Development Manager

Sanlam Limited; South Africa; On-site; ZAR 600,000 - 1,000,000; Full time

Job summary

Sanlam Limited seeks a dynamic Senior Business Development Manager to drive growth in the group business segment of its financial services offerings. This role involves strategic sales planning, execution, and fostering relationships within the South African Insurance market to enhance profitability and market share.

Qualifications

• 8 to 10 years’ experience in the Long-term Insurance industry.
• 5 years in Sales with proven sales targets.
• Knowledge of South African Insurance Regulatory framework.

Responsibilities

• Develop and execute overall GB sales strategy.
• Research and monitor insurance market trends.
• Identify sales opportunities and onboard new business.

Skills

Relationship building

Sales proficiency

Market segmentation knowledge

Education

Recognized qualification in business, sales, or related field

RE5 and RE1 (added advantage)

Job description

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Sanlam Retail Mass (SRM) is the leading financial services provider in the South African Retail Mass Market, and is part of the Sanlam Life and Savings (SLS) within the Sanlam Group. SRM includes the following insurance businesses: Sanlam Developing Markets (SDM), Assupol Life, Incub8 with Assupol, and Safrican.

We are looking for a dynamic and visionary Senior Business Development Manager to support the SDM and Assupol Group Businesses (GB) in the SRM cluster. The role will assist the Head of Assupol and SDM Distribution and the Head of SRM GB Distribution in developing and executing the overall GB sales strategy, business plans, and servicing GB clients. The incumbent is expected to prospect, develop new business opportunities, and achieve sales targets leveraging SRM capabilities

KEY RESPONSIBILITIES AND DELIVERABLES

Assist in developing and executing the GB Sales Strategy

• Develop a GB value proposition together with other stakeholders to drive the growth and diversification of the SRM GB business.
• Implement the approved SRM GB strategy
• Develop efficient and easy-to-use end-to-end new business processes and systems that support SRM GB's needs Participate in special/strategic SRM GB projects and perform supporting duties as required by the project
• Research and monitor insurance market trends to ensure that strategic plans are relevant, effective, and identify areas that need improvement or amendment.
• Identify sales opportunities and secure new direct group business for SRM GB

Developing and executing business plans

• Ensure that clear and robust business plans are created and managed, and that expense management processes are undertaken
• Exceptional understanding of GB profitability models in the financial services industry.
• Drive projects that improve group business outcomes and compliance and be overall accountable for the achievement of the projects’ business plans in terms of sales targets, expense budgets, and marketing plans for penetration and growth
• Initiate and manage marketing drives to secure profitable, quality new business from brokers, corporates, unions, and funeral parlours, etc.
• Prospect and onboard GB business in line with SRM business rules and maintain a steady pipeline
• Monitor and manage the financial and non-financial aspects of existing and new business
• Identify areas within the channel operation that need to be made more effective, cost-efficient, or client centred; and create actions and projects to improve these through innovation
• Monitor premium collections and take corrective action in line with SRM business rules
• Implementation of changes/renewals on existing schemes.
• Regularly engage with the clients, respond to customer concerns, follow up on actions to ensure customer issues/opportunities are dealt with.
• Broaden existing intermediary base, grow business of existing clients, and grow SRM GB market share.
• Manage strategic relationships with internal and external partners and service providers.

Collaboration with the SRM GB Team and other stakeholders

• Collaborate with other SLS clusters and the broader SRM Teams on various opportunities to grow GB value.
• Participate in regular GB distribution/ SRM GB meetings (including presenting or leading the meeting)
• Maintain a high level of integrity and continuous improvement to enhance sales performance.
• Work closely with stakeholders to ensure a wider set of customer needs are met.
• Be able to adapt quickly to business changes to remain competitive and compliant
• Develop and maintain business partnerships with other channels and partners

Reporting

• Submit the weekly reports to the Head of Distribution, including prospects, pipeline, leads and new business.
• Prepare ad hoc reports as may be required by management.

What will make you successful in this role?

QUALIFICATION AND EXPERIENCE

• A recognised qualification in business, sales, or a related field
• RE5 and RE1 – Added advantage
• 8 to 10 years’ experience in the Long-term Insurance industry, of which 5 years is in the Funeral insurance
• 5 years in Sales with a proven track record in achieving or exceeding targets
• Knowledge of the South African Insurance Regulatory framework (e.g., FAIS, AML, and Insurance Act, etc)
• Proven Sales track record of business >R80m APE individual Group business.
• Established relationships in either trade unions, funeral parlours, corporate, agricultural, mining, retail, government, or any other large group insurance market.
• Experience in establishing contacts and relationships with decision makers within the group business.

CORE COMPETENCIES

• Strong relationship building skills
• Strong work ethic
• Flexible and adaptable
• Work well in a diverse and changing environment

SKILLS AND EXPERIENCE

• Broad and significant Financial Services Industry knowledge/understanding
• Financial Services Product Knowledge (Sanlam and competitors)
• Understanding of the fundamentals of a Life company
• Profitability/Value of New Business (VNB)
• Distribution Strategy and Models
• Structure of different business entities
• Financial and budget/expense management
• Marketing and sales
• Business planning, strategy planning and execution
• Market and client segmentation knowledge
• Relevant regulatory legislation and compliance knowledge within Financial Services
• Good general legal technical knowledge

Personal Attributes

Plans and aligns - Contributing through others

Decision quality - Contributing through others

Business insight - Contributing through others

Interpersonal savvy - Contributing through others

Build a successful career with us

We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth.Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.

Core Competencies

Cultivates innovation - Contributing through others

Customer focus - Contributing through others

Drives results - Contributing through others

Collaborates - Contributing through others

Being resilient - Contributing through others

Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.

Our commitment to transformation

The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.