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This role drives the growth and profitability of the Personal Financial Services (PFS) bancassurance business, specifically focusing on micro-protection for the mass market. Primarily leveraging digital channels for distribution, it also strategically utilizes all available bank channels to maximize reach and impact.
The role contributes to PFS sustainability strategies by identifying new opportunities, engaging bancassurance partners for innovative products, and optimizing multi-channel distribution. This includes managing strategic partnerships, executing targeted marketing campaigns, and ensuring a seamless customer experience from onboarding to redress, all while striving to achieve aggressive sales targets and maintain a competitive market edge.
Functional (job responsibilities)
Business Growth & Strategy
- Identify and evaluate market trends, customer needs, and competitive landscapes to uncover new business opportunities within the bancassurance business, with a strong focus on micro-protection.
- Conduct feasibility market research on new products and existing bancassurance product enhancements to ensure market relevance and viability.
- Develop and implement strategies to expand the bancassurance product portfolio and increase market penetration rates, particularly through digital channels.
- Achieve assigned business targets for bancassurance products, including sales volume, revenue, and profitability.
- Monitor daily and monthly sales achievements, analyze performance data, and identify areas for improvement or intervention to optimize results.
- Prepare regular performance reports and present insights and recommendations to senior management.
Product & Channel Management
- Manage the entire product lifecycle for bancassurance products, from ideation, through launch, performance monitoring, and eventual sunsetting.
- Develop and execute comprehensive marketing plans designed to expand bancassurance product distribution to our bank's customer base across all key delivery channels, including digital, call centers, branches, and staff referrals.
- Oversee the end-to-end customer journey, from initial onboarding and policy issuance to claims processing and redress solutions, ensuring a positive and seamless experience.
- Provide product training and ongoing support to the delivery channels to enhance their knowledge and sales competency for bancassurance products.
Partnership & Stakeholder Engagement
- Liaise and engage with bancassurance partners (e.g., insurance providers) to ensure strong relationships and collaborative product development.
- Work closely with internal stakeholders to develop effective campaigns and promotions that drive product awareness and sales.
- Collaborate with stakeholders to develop and execute sustainability-themed marketing events or stakeholder engagement programs (e.g., PFS Literacy & Inclusion) as part of broader awareness efforts for general insurance products, encompassing comprehensive marketing and communications materials.
Others
- Perform ad hoc tasks/projects as requested by Head of Department.
Our Ideal Candidate should:
- Proactive, self-motivated, and able to work independently to complete set tasks within agreed timeframe as well as collaboratively within a team.
- Strong analytical and problem-solving skills, with the ability to interpret data and translate insights into actionable strategies.
- Excellent communication, presentation, and interpersonal skills, capable of engaging effectively with internal stakeholders, Banca partners, and senior management.
- Adaptable and resilient, capable of thriving in a fast-paced and dynamic environment.
- Innovative thinker with a passion for identifying and capitalizing on new opportunities.
- Demonstrated ability to develop and execute effective marketing and sales strategies.
- Results-oriented individual with a strong drive to achieve and exceed business targets.
- Strong project management skills with the ability to manage multiple priorities and deadlines.
- Customer-centric mindset with a focus on delivering exceptional value and service.
- Sound understanding of regulatory requirements (e.g., BNM, LIAM, PIAM, PIDM) governing insurance products in Malaysia
Jobholder Requirements
Indicate the minimum requirements expected of a jobholder in order to perform the job satisfactorily
Education/Qualification
- Bachelor's Degree in Marketing, Business Administration, Communications, Finance, or a related field. A Master's Degree or MBA is a strong advantage.
Experience
- Proven experience within the Banking, Financial Services, or FinTech industry in Malaysia is highly preferred
- Proven track record of managing general insurance products in the Malaysian market (or similar highly regulated market).
- Experience in bancassurance is highly preferred, demonstrating an understanding of the bank's distribution channels and operational processes.
- Familiarity with the end-to-end product lifecycle management, from ideation to post-launch optimization.
Special Skills
Certification Requirements
- Preferably relevant Digital Marketing Certifications (e.g., Google Ads, Google Analytics, HubSpot Inbound Marketing)
About Hong Leong Bank
We are a leading financial institution in Malaysia backed by a century of entrepreneurial heritage. Providing comprehensive financial services guided by a Digital-at-the-Core ethos has earned us industry recognition and accolades for our innovative approach in making banking simpler and more effortless for our customers. Our digital and physical offerings span across a vast nationwide network in Malaysia, strengthened with an expanding regional presence in Singapore, Hong Kong, Vietnam, Cambodia, and China.
We seek to strike a balance between diversity, inclusion and merit to achieve our mission of infusing diversity in thinking and skillsets into our organisation. Candidates are assessed based on merit and potential, in line with our mission to attract and recruit the best talent available. Expanding on our “Digital at the Core” ethos, we are progressively digitising the employee journey and experience to provide a strong foundation for our people to drive life-long learning, achieve their career aspirations and grow talent from within our organisation.
Realise your full potential at Hong Leong Bank by applying now.