Head: Alternative Distribution Broker Sales Short Term Insurance

An exciting opportunity has arisen within Absa's financial services division for a dynamic and experienced leader to spearhead their alternative distribution broker sales initiatives. Based in Johannesburg, this pivotal role calls for a seasoned professional to drive growth and innovation within the short-term insurance sector. The incumbent will be instrumental in shaping the future of broker partnerships and expanding the company's market reach through strategic engagement and sales excellence.

About the Role

The Head of Alternative Distribution Broker Sales will be entrusted with the critical responsibility of developing and executing the overarching strategy for broker distribution across a variety of alternative sales channels. This is a leadership position focused on cultivating sustainable growth by nurturing robust relationships with existing broker partners and actively seeking out new avenues for distribution. The role demands a forward-thinking individual who can identify emerging market trends, anticipate competitor movements, and adapt strategies to ensure Absa remains at the forefront of the insurance landscape. A key aspect of this position involves leading and inspiring a team of sales professionals to not only meet but exceed ambitious targets, ultimately contributing to the organisation's broader financial objectives and enhancing its market presence.

This senior role encompasses a broad range of strategic and operational responsibilities, all aimed at maximising sales performance and deepening broker engagement. Your key duties will include:

• **Strategy Development and Implementation:** Crafting and rolling out a comprehensive alternative distribution broker sales strategy that is closely aligned with Absa's overarching business objectives.
• **Relationship Management:** Building, nurturing, and expanding strategic alliances with key broker partners and intermediaries. This involves understanding their needs and providing solutions that foster mutual growth.
• **New Business Development:** Proactively identifying and developing novel distribution opportunities to broaden the company's market penetration and significantly enhance sales performance.
• **Team Leadership and Development:** Leading, mentoring, and coaching a high-performing sales team. This includes fostering a culture of accountability, driving performance, and ensuring the team possesses the necessary skills and motivation to achieve exceptional results.
• **Growth and Performance:** Spearheading efforts to achieve sustainable growth in premiums and revenue across all designated alternative distribution channels.
• **Market Intelligence:** Continuously monitoring market dynamics, competitor activities, and relevant regulatory changes to identify potential opportunities and proactively mitigate risks.
• **Cross-Functional Collaboration:** Working closely with various internal stakeholders to ensure a seamless and superior experience for both brokers and end customers.
• **Financial Oversight:** Managing sales budgets, developing accurate forecasts, and providing comprehensive performance reporting to senior management.
• **Compliance and Governance:** Ensuring strict adherence to all applicable regulatory, governance, and risk management requirements within the financial services industry.

What They're Looking For

To excel in this demanding role, candidates will need a potent blend of strategic acumen, sales expertise, and proven leadership capabilities. The ideal candidate will possess:

• A Bachelor's Degree in Business, Commerce, Marketing, Insurance, or a closely related field. Relevant professional insurance qualifications would be a distinct advantage.
• A minimum of 8 to 10 years of progressive experience in sales, broker distribution, or relationship management, with a strong focus on the financial services or insurance sectors.
• A minimum of 5 years of direct leadership experience, managing and developing sales teams with a demonstrated ability to drive performance and achieve targets.
• A solid track record of achieving significant sales growth and successfully managing complex strategic relationships with brokers.
• A deep understanding of broker distribution models and various alternative sales channels within the insurance market.
• Exceptional strategic thinking and commercial acumen, coupled with robust stakeholder management and influencing skills.
• Strong negotiation abilities and a proven talent for building and maintaining lasting relationships.
• Excellent leadership qualities with a passion for people development and empowering teams.
• Outstanding communication and presentation skills, capable of conveying complex ideas clearly and persuasively.
• A highly analytical and data-driven approach to decision-making.
• Where applicable, demonstrated fulfilment of FAIS regulatory requirements.
• A willingness and ability to travel as required by the role.

In South Africa, senior sales leadership roles within the insurance and financial services sectors, particularly those involving broker distribution, can command competitive remuneration packages. While exact figures vary significantly based on experience, company size, and performance metrics, such positions often include a base salary, performance-based incentives, and comprehensive benefits. Absa, as a major financial institution, is committed to employment equity and welcomes applications from all suitably qualified candidates from designated groups. The ability to contribute to the diversity of their workforce is a key consideration.

Minimum Requirements

• Bachelor's Degree in Business, Commerce, Marketing, Insurance, or a related field.
• Relevant insurance industry qualifications will be advantageous.
• FAIS regulatory requirements met, where applicable.
• Minimum 8-10 years' experience in sales, broker distribution, or relationship management within the Financial Services or Insurance industry.
• Minimum 5 years' leadership experience managing high-performing sales teams.
• Proven track record of achieving sales growth and managing strategic broker relationships.

Knowledge and Skills

• Strong understanding of broker distribution and alternative sales channels.
• Strategic thinking and commercial acumen.
• Exceptional stakeholder management and influencing skills.
• Strong negotiation and relationship-building capabilities.
• Leadership and people development skills.
• Excellent communication and presentation skills.
• Analytical and data-driven decision-making ability.

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised