Associate Director, Product Specialist
Salary undisclosed
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Job Summary
The Product Sales Specialist reports to the Bancassurance Department and is responsible for executing business strategies, providing daily sales support to the frontlines, and achieving life insurance sales volume and revenue targets for the Priority Banking segment. The role involves performing holistic wealth advisory and needs-based selling to customers and addressing customer queries about insurance products. The specialist develops the technical and selling skills of frontline staff, assists in planning sales activities with sales managers, upholds sales and service professionalism, and ensures compliance with all relevant policies and regulations.
Key Responsibilities
Strategy
- Be aware of and understand the Bank’s business model and strategy and implement it accordingly.
Business
- Perform daily sales activities, including joint sales calls with relationship managers, client engagements, policy reviews, and addressing product queries.
- Assist the frontline in addressing any insurance sales-related issues.
- Be involved in sales activity planning and execution with sales managers.
- Perform direct closure of Universal Life Insurance sales.
- Achieve life insurance sales volume and revenue targets for the Priority Banking segment.
Processes
- Understand and keep abreast of the latest sales process guidelines, supervising the frontline team to ensure adherence.
- Collaborate with internal stakeholders, including product managers and process owners, to drive product and process improvements and enhancements.
- Work closely with insurance service providers to ensure smooth sales production and a seamless customer experience.
- Regularly attend training sessions to stay updated on industry knowledge and developments and fulfil required licensing learning hours.
Risk Management
- Ensure all sales activities comply with internal policies and external regulations, thereby mitigating legal and regulatory risks.
- Ensure that the insurance products offered are suitable for clients’ needs and financial situations, thus minimizing the risk of mis-selling and potential customer disputes.
- Provide continuous training to frontline staff on risk management best practices, ensuring they are well-equipped to handle potential risks during sales and advisory processes.
- Maintain vigilance during customer engagements to ensure the legitimacy of clients and transactions, reducing risk of fraud and financial crimes.
- Collaborate with product managers and process owners to identify and implement improvements that enhance risk management.
- Report identified risk incidents, including customer complaints, regulatory breaches, and operational failures, to the relevant risk department or line manager to mitigate their impact on the business.
Governance
Maintain awareness and understanding of the regulatory framework within which the Bank operates, ensuring compliance with relevant regulatory requirements and expectations. Regulatory & Business Conduct
- Display exemplary conduct and live by the Group’s Values and Code of Conduct.
- Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures
Key stakeholders
- Priority Banking Distribution (sales leaders and relationship managers)
- Bancassurance Product Team
- Wealth Solutions Policies & Process Team
- Wealth Solutions Department
- Insurance Service Providers
Skills and Experience
- Insurance product knowledge
- Insurance advisory skill
- Data analytics
- Excel
- PowerPoint
Qualifications
- Must possess at least a bachelor’s degree in Finance, Banking, Business Studies, or a related field, along with the necessary and relevant licenses.
- Min 4 to 5 years of working experience in the insurance, banking, or investment industries.
- Strong proficiency in sales, organisational, problem-solving, communication, motivational, and interpersonal skills to work effectively across functions.
- Proficient in public speaking and presentation skills.
- A disciplined team player who is self-motivated and able to work independently.
- Willingness to travel within Klang Valley and other locations within Malaysia as required.
- Wealth management or investment knowledge or experience is an added advantage.
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.
Together we:
- Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
- Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
- Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
What we offer
In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
- Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
- Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
- Flexible working options based around home and office locations, with flexible working patterns.
- Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
- A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
- Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.
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