Head of Business Development at Vanguard Life Assurance Company Limited

JOB OPPORTUNITY

Vanguard Life Assurance Company Limited is inviting applications from suitably qualified and experienced candidates to fill the position of Head of Business Development. This is a senior leadership role, critical to the strategic growth and sustainability of the company’s business across both the life and pensions segments, covering individual and group portfolios.

We seek to recruit a suitably qualified and experienced individual for the position as described in summary below:

Job Role : Head of Business Development

Reporting to : The Managing Director

Direct Subordinate(s) : Individual Life Marketing Manager

Group Business Marketing Manager

Contract Type : Full Time

Location : Head Office – Blantyre

Purpose of the Role

The Head of Business Development is responsible for the planning, development, and implementation of the organization’s overall marketing strategy, business acquisition and retention initiatives, product development, corporate communications, and public relations functions. The role requires a strategic thinker with a deep understanding of the insurance industry, market trends, and regulatory framework, capable of translating market intelligence into actionable business plans.

Key Responsibilities

1. Business Growth and Market Development

• Formulate and implement growth strategies to expand the organization’s customer base and market share.
• Lead the identification and pursuit of new business opportunities through partnerships, corporate engagements, and untapped customer segments.
• Maintain active engagement with regulatory bodies, industry associations, and distribution channels to stay ahead of emerging market opportunities.
• Provide regular performance tracking and reporting on business development KPIs and market performance.

2. Product Development and Innovation

• Lead the design, development, and enhancement of insurance and pension products that align with market needs and customer preferences.
• Conduct product lifecycle management including periodic review, re-pricing, and repositioning to ensure competitiveness.
• Facilitate cross-functional collaboration with underwriting, actuarial, and operations teams to ensure smooth product rollout and compliance.
• Serve as Chairperson of the Product Development Committee.

3. Client Relationship Management

• Champion initiatives to enhance client satisfaction and retention, ensuring service standards are consistently met.
• Manage relationships with key institutional clients, brokers, and other intermediaries.
• Respond to client queries, provide advisory support, and ensure timely resolution of service issues.
• Oversee client experience strategies to foster loyalty and long-term engagement.

4. Marketing and Brand Management

• Oversee the planning and execution of marketing campaigns, corporate branding, and public relations activities.
• Liaise with advertising and PR agencies to ensure impactful market presence and messaging.
• Ensure all marketing material is relevant, compliant, and aligned with the brand’s strategic objectives.
• Guide internal communication to ensure staff are knowledgeable and confident about the company’s products and services.

5. Strategic Planning and Reporting

• Participate in the company’s strategic planning process and align business development goals with overall corporate objectives.
• Monitor and analyse industry trends, competitive developments, and regulatory changes to inform strategic decisions.
• Prepare periodic reports, presentations, and recommendations for executive and board-level review.
• Coordinate strategic projects including mergers, acquisitions, or business expansions when required.

6. Team Leadership and People Management

• Provide leadership, mentorship, and performance management to the marketing teams for both individual life and group business.
• Set clear objectives, assign responsibilities, and evaluate performance for all direct reports.
• Foster a culture of innovation, accountability, and professional growth within the business development function.
• Ensure capacity building through training, coaching, and development initiatives.

7. Budgeting and Financial Oversight

• Develop and manage the business development department’s annual budget, ensuring alignment with corporate financial goals.
• Monitor expenditure against budget, ensuring efficiency and accountability in resource allocation.
• Contribute to pricing strategies for group risk business and product profitability analyses.

Qualifications and Experience

• Bachelor’s Degree in Marketing, Business Administration, or a related field is required.
• Professional certifications such as Chartered Marketer or Chartered Insurer are highly desirable.
• A minimum of 8 years’ relevant experience at senior management level within the insurance industry, with proven exposure to both life and pensions business, including individual and group schemes.
• Demonstrated experience in business strategy formulation, market development, and team leadership.
• Strategic leadership development training will be an added advantage.

Key Competencies and Attributes

• Comprehensive knowledge of insurance market dynamics, products, and distribution models.
• Strong strategic thinking, planning and analytical capabilities.
• Excellent stakeholder engagement, negotiation, and relationship management skills.
• Sound understanding of regulatory frameworks applicable to the insurance and pensions sector.
• High level of integrity, professionalism, and results orientation.
• Strong communication, organizational, and leadership abilities.

Benefits:

· Competitive salary commensurate with experience.

· Comprehensive benefits package including health insurance, retirement plans.

· Opportunities for professional growth and development.

· Positive and dynamic work environment with a collaborative team culture.

Method Of Application

Interested candidates should submit a resume and cover letter outlining their qualifications and experience to [email protected] not later than Friday, 30th May 2025.

Only shortlisted candidates will be contacted for interviews.

“Vanguard Life Assurance Company Limited is an equal opportunity employer, so, all qualified applicants will receive consideration for employment on merit without regard to race, colour, religion, gender, tribe, disability status, or any other characteristic protected by law.”