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About the Organisation
Principal Officer – Bancassurance job at Bank of Africa Uganda | Apply Now
Kampala, Uganda
Bank of Africa Uganda Limited (BOA Uganda) is a key player in the Ugandan banking sector, providing a wide range of financial services to individuals, businesses, and institutions. As part of the Bank of Africa Group, which operates in 18 countries across Africa, BOA Uganda benefits from a strong network and extensive experience in the African financial landscape.
Established in 1985, BOA Uganda has grown significantly, earning a reputation for reliability, innovation, and customer-focused services. The bank offers a comprehensive suite of products, including personal and business banking, loans, savings and investment accounts, and digital banking solutions. Its commitment to leveraging technology has led to the development of robust online and mobile banking platforms, making financial services more accessible and convenient for its customers.
BOA Uganda is known for its strong focus on small and medium-sized enterprises (SMEs), providing tailored financial solutions to support their growth and development. The bank offers various credit facilities, advisory services, and business development support to help SMEs thrive in a competitive market.
The bank also places a high priority on corporate social responsibility, engaging in numerous initiatives aimed at improving the well-being of communities in Uganda. These initiatives include support for education, health, environmental conservation, and economic empowerment projects. Through its community outreach programs, BOA Uganda demonstrates a commitment to making a positive impact on society.
Are you looking for Administrative jobs in Uganda 2025 today? then you might be interested in Principal Officer – Bancassurance job at Bank of Africa Uganda
Full Time
Deadline:
21 May 2025
Job Title
Principal Officer – Bancassurance job at Bank of Africa Uganda
Bank of Africa Uganda
Job Description
Job Title: Principal Officer – Bancassurance
Organisation: Bank of Africa Uganda
Duty Station: Kampala, Uganda
Responsible for establishing and driving Bancassurance as a business line in Bank. Spearheading the growth of Bancassurance business across the Bank channels through supporting delivery channels, develop operating standards and grow revenues for this line of business and positioning as a major provider of insurance products and related services within the Ugandan Market.
Duties, Roles and Responsibilities
Qualifications, Education and Competencies
See all details of the qualifications, competencies and education for this role under the "How to Apply" section below.
All candidates who wish to join Bank of Africa should apply online at the APPLY Button below.
Deadline: 21st May 2025
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How to Apply
Drive growth in Bancassurance business across and outside the bank channels.
Prospect and market various insurance products to prospective clients and advice customers on the adequacy of cover requested for in relation to the policies available.
Oversee the operational aspects of Bancassurance business at the branch i.e. underwriting, claims, finance and customer service as well as preparation quotations, negotiating terms for customers and closing sales.
Ensure all collaterals and assets that have the Bank interest are properly and comprehensively insured and the Bank’s interest properly noted.
Ensure that the Bank, customers and staff insurable assets insured under the branch are renewed on time and that the premium is paid up.
Carry out market research and provide customer feedback to the Bancassurance team for the development of new products and enhancement of existing ones to suite the various market segments.
Ensure that all queries on technical insurance issues from customers and branch staff are addressed promptly while providing technical guidance.
Ensure seamless and consistent customer experience levels aligned to the Bank’s objectives
Ensure compliance with all regulatory, internal procedures and reporting in regard to Bancassurance business.
Additional Responsibilities
The Bank reserves the right to amend, modify, or adjust the responsibilities of this position as business needs evolve, in alignment with applicable labour laws. The Employee may also be required to undertake additional duties or projects from time to time, within their capabilities and consistent with the responsibilities of the role, as directed by the Employer.
Key Performance Indicators
Growth of Gross commission income from to 358Mn to 400Mn
Growth of Gross premiums collected from 3Bn to 3.6Bn
Customer service index (90%)
Audit/Risk/Compliance/Permanent Control issue resolution rate of your department.
% of Audit/Risk/Compliance/Permanent Control issues outstanding for > 3 months
Compliance with Policies, Regulations and Guidelines (IRA)
Completeness, and TAT on reports
Training on Bancassurance for all staff
SERVICES
COMMERCIAL
SERVICES
INDUSTRIAL
SERVICES
RESIDENTIAL
Education: University Degree preferably in a business field with at least three years working experience in banking/bancassurance/insurance industry. Professional qualification in insurance or equivalent shall be an added advantage
Experience: 2 Years insurance marketing and/or underwriting experience. Exposure to Insurance products in the bank set-up with knowledge of the Bank’s set standards, policies and the operating manual.
Technical Skills: Excellent communicator with ability to work effectively in a diversified set up and in a highly collaborative team environment, Proven ability to respond quickly, independently and appropriately to competing priorities under tight deadlines, Personal organization and thoroughness coupled with the ability to work under minimum supervision with good Judgment and decision making skills, Knowledgeable in compiling data and preparing a variety of reports as well as ability to verify the accuracy of document.
Additional Requirements/Competencies
High ethical standards and a commitment to the values of the Bank.
Ability to pay attention to details.
Good communication and inter personal skills.
Logical thinker – has a clear, focused and methodical approach to tasks given under required frequency e.g. daily, Weekly, monthly and yearly.
Results-orientated, driven to realise business service objectives and able to execute at speed.
Self-motivated, energetic, innovative and open to new ideas.
Team player – approachable, receptive to ideas/feedback from others.
Assertive – able to handle and mediate in conflict, stand by principles and put forward ideas despite opposition.
Tough-minded, rarely upset by criticism, able to retain optimism despite setbacks.
Highly numerate/ Data rational: Is good with numerical data, operates on facts, and enjoys assessing and measuring.
Analytical: Identifies &analyses patterns and trends, sees the relationship between cause and effect, has an inquiring mind
Ability to build substantive relationships and connections in professional settings.
Operating knowledge of Capital Markets instruments.
Customer Centric.
Computer literate and familiarity with standard office computer applications
Has the initiative to investigate and obtain additional information to deal with ambiguity
Understands custody Settlement rules / standards and effectively applies in daily settlement.
Consider all the facts, options and possible outcomes prior to making recommendations
Ability to handle conflict situations
