Senior Officer- Bancassurance OPS Emiratized Role - Part Time

JOB PURPOSE:

• The role holder is responsible for ensuring that client onboarding to FAB books (Bancassurance) are of good quality and are in compliance with the UAE Central Bank and Banks Policies and Procedures. The role leads a team in ensuring that the customer details are captured in a professional, accurate, and meaningful manner to the relevant system.
• In line with set KPI and performance objective maintain 100% accuracy and error-free work.

• Follow all relevant departmental policies, processes, standard operating procedures, and instructions so that work is carried out in a controlled and consistent manner.
• Demonstrate compliance with the organization's values and ethics at all times to support the establishment of a value-driven culture within the bank.

• Contribute to the identification of opportunities for continuous improvement and sustainability of systems, processes, and practices considering global standards, productivity improvement, and cost reduction.

• Accepting and processing of all provider documentation pertaining to Bancassurance Ops.
• Suitability checking of all the Bancassurance provider applications for completion and accuracy as per the risk & compliance checklist.
• Despatching all the provider documents to the provider on a daily basis.
• Setting up of Standing Instructions for the debit of the premiums in BA System.
• Reporting of the collected premiums to the Service Providers on a regular basis.
• Processing of Adhoc Debit instructions from customers for failed premiums.
• Securing of funds for the Banca logged in cases if applicable and initiating transfer of the funds to the respective providers.
• Updating any changes in the Standing Instructions as per the customers' or providers' request.
• Cancellation of the Standing instructions as per the customers' RMs or compliance request and intimation of the same to the provider.
• Processing of Staff Free premium as per the policy (campaign time).
• Funds transfer to Nostro A/Cs/CB Accounts and provider accounts via TBO & follow up.
• Processing of reversal of funds due to cancellation and coordinating with the relevant team for processing the same.
• POS manual debits for SI/Adhoc and reconciliation against NI report and transferring of the same to respective insurance providers.
• Processing of Reinstatement Decrement and Top-Up.
• Processing of Not Taken up (NTU) and cancelled from effective date cases and intimating the same to the provider.
• Checking and action on Banca helpdesk emails and forwarding the same to the concerned sales/providers/Banca ops/servicing unit and inter-depts.
• Banca Helpdesk for query management related to Banca Ops.
• Account Reconciliation of internal insurance providers subscription/suspense account and insurance providers FAB accounts.
• Checking of the Standing Instruction Schedules for premium collection.
• Follow up & coordination with sales Support/Retention Team for any pending documents pertaining to the Banca applications and maintenance documents.
• Generate Call Back Reports.
• To format Call Back Scripts for different products and to obtain approval prior to introducing a new script.
• Call Back Check will involve calling the customer and checking that the customer understands the basic features of the product purchased and also understands the risks associated with the product.
• Call back for verification of policy document delivery.
• Coordinate with RM to activate the Inactive accounts in case of live policies attached to the account.
• Coordinate with RM for closure of Dormant Account in case there is no live policy attached to the account.
• Proofing for RMU and KRI on a monthly basis (Banca).
• Processing General Insurance policy issuance and renewals.
• Processing General Insurance policy cancellations and reversals.
• Policy Endorsement OTC.
• Processing Monthly Banca bookings for OTC and SIP.
• Banca commission Reconciliation for SIP and OTC.
• Accounts/ Transactions reconciliation SIP and OTC.
• Ensure adequate training is provided to all sales & sales support staff and improve the quality of documentation.
• Any other duties designated by the Department Supervisor/Manager.
• Prepare scenarios and UAT test cases for all system improvements on BA System.
• Provides inputs in the preparation of timely and accurate sub-departmental statements and reports to meet FAB's and departmental requirements, policies, and standards.

• Ensure escalation of any identified risk and suggest and implement mitigating actions and controls to safeguard the Bank.
• Ensure timely and effective communication is maintained with internal customers taking utmost care in protecting the reputation of the bank.
• Identify risk and nature of issues and inquiries arising repeatedly. Ensure to escalate these identified risks to the Supervisor / Line Manager / Department Head within the Unit and be a part of the team designing the mitigating factors.

• Review periodically the staff job functions and ensure that all staff within the unit are fully aware of all the processes which would facilitate job rotation.
• Maintain professionalism and effective communication with colleagues within the Unit and all other Departments.
• Adhere to your individual duties and responsibilities and support the team to deliver service excellence.
• Ensure all staff are able to deliver the tasks assigned including on-the-job technical & soft skill training and development.

• Manage the work flows efficiently with the resources available without compromising on the risk and services. Provide improvement suggestions to enhance the quality and efficiency in our work resulting in the best customer service.
• Maintain highly efficient turnaround time.

• Bachelor Degree Preferable in Commerce, Banking, Finance, or Economics.
• 12 years relevant experience in the Banking sector.