Bancassurance Manager at First Capital Bank

Applications are invited from suitably qualified candidates to fill the position of Bancassurance Manager tenable at Head Office in Blantyre.

Job Purpose

The Bancassurance Manager will be responsible for overseeing and managing all bancassurance arrangements and operations at First Capital Bank Malawi. The incumbent will serve as the principal liaison between the Bank, insurance partners, and clients to ensure seamless delivery of insurance products, regulatory compliance, and superior customer experience. This role requires a detailed understanding of insurance products, strong customer engagement, and excellent compliance oversight.

Key Responsibilities

1. Bancassurance Operations Management

i. Manage and oversee all bancassurance arrangements and partnerships.
ii. Drive the execution of the bancassurance strategy and ensure alignment with bank objectives.
iii. Coordinate with internal departments and insurance partners to ensure seamless operational delivery.

2. Customer Advisory & Engagement

i. Clearly explain the terms, benefits, and conditions of insurance products to prospective policyholders.
ii. Inform customers about premium charges and payment terms.
iii. Assist clients in completing proposal forms, and ensure customers understand their responsibility in
providing accurate information.
iv. Notify clients about the acceptance or rejection of their insurance proposals.

3. Compliance & Regulatory Adherence

i. Ensure that all information provided to clients is truthful, not misleading, and compliant with
regulatory expectations.
ii. Verify that all documents issued under the insurance contract meet statutory and regulatory requirements.
iii. Guide clients through claim procedures and ensure compliance with the Directive on Claims Management.

4. Product Development and Management

i. Expand the Bank’s Bancassurance offers based on the market requirements in the targeted segments.
ii. Highlight opportunities in the market and recommend improvements of existing Bancassurance offers.
iii. Revenue Management for all Bancassurance products and ensuring they achieve the targets in line with the budget.

5. Documentation & Record-Keeping

i. Obtain and review all required documents at the time of proposal submission to insurance companies.
ii. Ensure policy documents are delivered to clients within 14 days of receipt from the insurer.
iii. Maintain signed acknowledgements from policyholders confirming receipt of policy documents.
iv. Keep accurate, secure, and confidential records of all customer interactions and insurance documents.

6. Claims Management

i. Facilitate and process insurance claims submitted by clients, policyholders, or beneficiaries in line with set regulations and internal procedures.
ii. Track and escalate unresolved claims to ensure timely resolution.
7. Risk and Information Management

i. Safeguard the security and confidentiality of all customer information in line with data protection
policies.

ii. Educate customers on the consequences of incomplete or inaccurate information that may lead
to claim repudiation.

Qualifications and Experience

• Bachelor’s Degree in Insurance, Banking, Finance, Business Administration, or a related field.
• A recognized qualification in Insurance (e.g., CII, COP, or equivalent) is a requirement.
• Minimum of 5 years’ experience in insurance, banking, or bancassurance roles, with at least 2 years in a supervisory or managerial position.
• Strong understanding of regulatory frameworks governing insurance and bancassurance in Malawi.
• Experience in customer service, claims processing, and documentation handling.

Key Competencies

• Deep knowledge of bancassurance models and insurance products.
• Excellent communication, negotiation, and interpersonal skills.
• High attention to detail and strong compliance orientation.
• Proven ability to manage multiple stakeholders, both internal and external.
• Strong ethical standards and integrity.
• Proficiency in Microsoft Office applications and core banking systems.

Method Of Application

Interested candidates who meet the above requirements should submit their application letter, detailed CV, and copies of academic and professional certificates to: [email protected] by 14th July 2025.