Broker Regional Sales Manager

Introduction

Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations.

We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilising new platforms Momentum Metropolitan provides practical financial solutions for people, communities, and businesses. Visit us at www.momentummetropolitan.co.za.

Disclaimer

As an applicant, please verify the legitimacy of this job advert on our company career page.

Role Purpose

• The purpose of this role is to execute on Broker and SMA (Short-term Broker Relationship Consultant) Sales and Management Strategy in Western Cape, KZN, Eastern Cape, Southern Cape, whilst achieving a seamless client experience across this channel. To grow and ensure high levels of service offered by Momentum Insure Company, whilst developing and maintaining good business relationships with brokers and supporting SMA’s broker functions.
• Educate brokers and SMA’s in respect of Momentum Insure products to ensure that high standards are met and maintained and to reduce overall business and compliance risks.
• Introduction of new Momentum Insure Products.
• Strong leadership is required to motivate and inspire the Broker Sales and SMA Service Team.
• The Broker Relationship Manager needs to ensure effective capacity management of available resources to achieve broker sales targets and delivery of excellent client service across this channel.
• To ensure that the processes within the Broker & SMA team complies with legislative and process requirements.
• To enhance skills levels of all staff and create a healthy work environment. Contracting and achieving training and development plans for Broker Sales and Service Team. Manage transformation and employment equity.

Requirements

• Matric/Grade 12
• Regulatory exams accredited FAIS requirements, RE1 and 5
• Full qualification –Commercial and Personal Insurance NQF Level 5 or relevant qualification in field
• 5 years servicing experience in short term insurance or financial industry, personal and commercial insurance
• 5 years' experience in dealing with brokers
• Capable of competently using Power point and other visual aids and software packages
• Ability to present professionally to Executives and Corporate Accounts

Duties & Responsibilities

Responsibilities and work outputs Maintaining Key Relationships

• Draw up and meet SLAs agreed with Brokers
• Conduct face-to-face weekly, bi-weekly, monthly visits to brokers as well as supporting the SMA’s in this space
• Keep register of visits for SMA’s
• Work through agenda with brokers and SMA’s
• Maintain record of minutes of broker meetings and upload onto the system
• Manage one on one consultations, ensuring regular communication and meetings with staff and all SMA’s in their realm of responsibilities
• Ensure effective resourcing, development, performance management and retention plans are in place for staff
• Participation in corporate events, advertising, and general relationship building in conjunction with Marketing
• Assist in generating leads for SMA team and brokers
• Onboarding new Brokers via MDS
• Update Broker detail and maintain broker compliance.
• Maintain telephonic and e-mail communication with brokers and SMA’s
• Offer product and process training to brokers and their staff in conjunction with SMA’s
• Offer telephonic and e-mail product and procedure support in conjunction with SMA’s
• Ensure that insurance products sold are appropriate to client's needs
• Handle broker queries and support SMA’s on these queries
• Market new products to brokers and arrange training on existing products in conjunction with SMA’s
• Assist brokers and SMA’s to sign-up appropriate Momentum Insure Intermediaries and complete relevant due diligence documents
• Monitor broker activities through audits, client feedback and broker visits in support of SMA’s
• Identify trends and market related issues and relay these to the Executive and Manager
• Offer suggestions on how to remain competitive in these markets
• Attend weekly and monthly meetings with Head of IFA
• Provide weekly and monthly reports and feedback to Head of IFA

Manage productivity related to key areas within the SMA broker team

• Improve the overall client service by adhering to service level agreements and requirements
• Perform activities that will contribute to reducing branch errors as well as claims errors from an underwriting perspective
• Review client portfolio at point of contact to increase accurate underwriting and reduction of potential claim errors
• Increase renewal growth by monitoring current and renewal premiums with support from underwriting and engaging with underwriting, SMA’s and brokers where necessary
• Monitor and ensure that discounts are not given unnecessarily
• Perform upselling exercises in conjunction with SMA’s to support organic growth of existing portfolio with key focus on Envoy, Priceless, Select and commercial products.
• Manage and monitor the churn rate to support growth and productivity and focus on retention with sales and underwriting
• Manage and monitor the loss ratios by accessing relevant data
• Collaborate and work with claims team to ensure claims are resolved within set time frames
• Engage with claims committee as and when required to resolve difficult claims and to support decisions on claims
• Support SMA’s to complete amendments in line with policy and procedure requirements
• Evaluate and ensure correct cover has been given to clients and support SMA’s on these queries

Monitor Brokerage commissions

• Monitor commission statements from the system and engage with head of IFA Distribution to resolve queries
• Handle and resolve queries relating to commissions in support of brokers and SMA’s

Build relationship with new SMA brokers and introducing other Momentum Insure Products

• Identify opportunities for engagement on new brokers
• Ensure all brokerage contracts are signed and necessary approvals are in place
• Ensure that new brokers understand the products and processes
• Offer systems training and introduction to allocated SMA’s
• Log tasks to open our insurance on the client's system
• Log tasks and support SMA’s to register brokers on Premia system via MDS
• Submit monthly SMA visit reports to head of IFA Distribution for discussion and potential action
• Pull sales reports and Loss Ratio reports where required from the system and forward to Brokers (Insure confidentiality on these reports)

Continues CPD – personal development.

• Build on own continuous professional development
• Review study plan within set time frames through one-on-one sessions with the Head of IFA Distribution
• Ensure adherence to industry qualification requirements are met as required
• Update product knowledge on an ongoing basis

Competencies

• Impactful leadership
• Driving change
• Purposeful collaboration
• Motivate and inspire staff
• Business and Product knowledge
• Focus on achieving budgets
• Building relationships with Brokers and achieving growth of individual brokers
• Driving performance by ensuring staff achievements of KPI's
• Ensuring staff are working in accordance with underwriting guides
• Ensure staff and brokers are trained on underwriting requirements, Compliance, and legislation requirements.
• Extensive knowledge in Momentum Insure processing systems (advantageous)
• Knowledge in Quotations, Servicing, Claims, Finances, Compliance and legislation
• Sales and Service experience