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Kampala, Uganda

Full-time

Deadline: 

December 20, 2023 at 2:00:00 PM

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About the Organisation

DFCU Bank is a leading financial institution in Uganda, offering a wide range of banking services to individuals, businesses, and organizations. Established in 1964, DFCU Bank is known for its commitment to innovation, customer service, and financial inclusion. The bank provides various products, including savings and current accounts, loans, investment options, and digital banking solutions. DFCU Bank also supports SMEs with tailored financial solutions and has a strong focus on sustainable development and community empowerment. With a robust branch network and a dedicated team, DFCU Bank continues to drive economic growth and enhance the financial well-being of its customers.

Job Title

Bancassurance Underwriting Officer job at Dfcu Bank

Job Description

Reporting to the Head of Bancassurance, the role holder will oversee the underwriting function around the Bancassurance department, ensuring competitive insurance quotations are negotiated, insurance policies placed accurately, and customers issued with policy documentation amongst other accountabilities.

Duties and Responsibilities

KEY ACCOUNTABILITIES:

  • Support on Bancassurance sales growth by ensuring customer acquisition and retention, through cross-selling, negotiating competitive insurance quotations, while complying with the Insurance Act, the Bancassurance Regulations, and other applicable guidelines.

  • Place both Life and Non-life insurance instructions with partner insurance companies, coordinate recovery of premium, and policy documents.

  • Review all issued invoices, policy documents, premium invoices, and statements for accuracy to ensure they meet the standards established by the Bank.

  • Reconcile premium suspense accounts, unallocated premium reports, proforma invoices and insurance policies to promote revenue assurance to the Bank.

  • Timely remit insurance premiums to ensure no breaches to the Cash and Carry Regulatory Guidelines.

  • File Insurance documentation per laid out Bancassurance department processes and Regulatory Guidelines.

  • Monitor insurance policy anniversaries, manage business retention, and ensure no lapse to insurance covers.

  • Provide support on Bancassurance commission recovery and reconciliation to carb income leakage.

  • Process un-utilized premium refunds to ensure value for money for the customer.

  • Timely settle customer complaints and promote quality interactions with the Bank’s sales teams and customers.

  • Maintain good relationships with the insurers, measure their performance to ensure quality service to the customers.

  • Equip Bank staff with insurance knowledge through product training and joint customer visits to grow the Bancassurance portfolio.

  • Provide technical guidance to customers, sales and loan recovery staff on risk management, identification of insurable risks, determining amount of insurance cover required and extent of coverage, to ensure a seamless and consistent customer experience.

  • Ensure acceptable audit ratings and timely implement all post-audit recommendations.

  • Prepare month-end reports to management and Regulators in a timely manner.

Qualifications and Competencies

QUALIFICATIONS, EXPERIENCE and COMPETENCIES REQUIRED:

  • A university Degree in a Business-related field.

  • A Certificate in Insurance (CIU). A diploma in insurance will be an added advantage.

  • At least 5 years insurance underwriting experience. Insurance sales experience will be an added advantage.

  • Thorough knowledge and practical application insurance covers.

  • High level of integrity and ethical

  • Attention to detail, excellent analytical skills, and ability to demonstrate a high degree of accuracy.

  • Excellent interpersonal, verbal, written, communications and independent judgement skills.

  • Good organizational

  • Excellent negotiation

  • Conflict resolution skills.

How to Apply

If you believe you meet the requirements as noted above, please forward your application with a detailed CV including present position and copies of relevant professional/academic certificates (University Transcript, O & A level), by close of business on Wednesday 20th December 2023 to the email address indicated below.
Vacanciesbank@dfcugroup.com

Apply Now
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