Product Lead, Bancassurance at Trust Bank

Trust is the first of a new breed of banks in Singapore – digitally native and focused on delivering a delightful customer experience.  You will work in a fast-paced and collaborative environment to solve new and interesting challenges each day. Together with our Trust team, you will help shape the future of our bank.  

As a Bancassurance Product Lead, Life Insurance you'd be able to work on and solve many interesting challenges which we are facing, learn new ways of working, and help build delightful high-quality products for our customers.  

Job Description 

Reporting to the Head of Bancassurance, you as a Product Lead will be responsible for end-to-end development and management of primarily Life Insurance products. You will need to define the customer value proposition, customer journeys and processes that are customer focused as well as sales management and governance framework. You will need to manage the Bancassurance partnership effectively to deliver the agreed Bancassurance strategies and sales targets. You will be a key member of our agile cross-functional teams across Product, Technology, Operations, Compliance, Legal, Marketing, Risk and Finance, iterating for 10x better as both our customer and business needs change.

You are a digital native with a natural intuition for design and technology, coupled with a strategic mindset. You are comfortable working in a fast-paced environment with high degrees of ambiguity and are happy to roll your sleeves up to get things done. Your success is critically dependent on a positive and progressive attitude as well as your ability to communicate and collaborate effectively with both internal and external stakeholders. 

The Role Responsibility: 

• Own and deliver the OKRs and P&L for Life Insurance
• Manage the partnership between the Bancassurance partner and the Bank to create a mutually beneficial relationship.
• Develop and execute the Bancassurance strategy that drives growth and profitability.
• Define customer value proposition, product roadmap, go to market strategy, business plan, SLAs and operational processes and strive for market leadership in customer experience
• Define and deliver sales targets, sales plans and business development initiatives.
• Develop and execute effective cross-sell and up-sell strategies via digital and Bancassurance Specialists.
• Define the E2E customer journeys, processes and be able to write clear and detailed user stories and acceptance criteria.
• Track and analyse pre and post marketing campaign evaluations to measure the ROI of all marketing campaigns and effectiveness of Bancassurance products.
• Lead product innovation by developing Life Insurance products tailored to the Bank’s customers, with the Bancassurance partner.
• Perform risk assessment of the Bancassurance products that are being offered through the Bank to ensure that they align with the customer needs and compliance standards.
• Oversee sales management and governance and ensure compliance with all applicable laws and regulations, internal standards and policies in both Banking and Insurance industries.
• Oversee customer service quality and service levels for both direct and intermediary enquiries.
• Work closely and manage relationships with key stakeholders, including but not limited to Technology, Legal, Compliance, People Team, Design and Customer Experience, Risk, Finance, Operations, Customer Service, Growth and Marketing.
• Perform market research, competitor analysis and analyse market developments and product sales data to identify trends and new business opportunities
• Define the design of solution and system requirements to ensure a seamless customer experience by integrating insurance products with the Bank’s service delivery platforms
• Ensure governance of product through ongoing business reviews.
• Define, manage and track budgets and product KPIs and ensure the timely preparation and delivery of its reports to respective stakeholders and Management.

 

Role Specific Technical Competencies:

Skill	Target proficiency level
Life Insurance product development & management	Expert
Life Insurance sales process & management	Core
Life Insurance underwriting & claims knowledge	Core
Insurance legal & regulatory compliance knowledge	Advanced
Insurance risks assessment & knowledge	Advanced
Data analytics	Core
Technology integration	Core

   

You’ll Fit Right In If You Are

• Someone who can see the big picture while driving perfection down to the last pixel.
• A creative problem solver.
• Have an eye for turning complex problems into beautiful, elegant experiences.
• Highly collaborative and can communicate openly and respectfully.
• Comfortable in fast paced environments, and highly adaptable.
• A strong voice for the customer/user.
• You’ve worked in multi-discipline teams across the design process – research, and UX design.
• Proactive and self-motivated learner.
• You can be pragmatic and balance the needs of user, business and technology.

Our Ideal Candidate: 

• Bachelor’s degree in a technical discipline (Finance, Business, Marketing, etc.) and holding Insurance qualifications will be positive, especially Life Insurance certifications.
• 15 years of experience in Bancassurance / Life Insurance Product Management experience, leading a business unit responsible for achieving financial sales and service performance objectives
• 5 years of Product Ownership experience, preferably in Life Insurance, with proven record in proposition development and project implementation
• Solid knowledge in Life Insurance products, latest market developments and regulations
• Possess a strong customer focus
• Practical experience in Agile/SCRUM methodologies alike
• Practical experience in product and marketing program designs and implementation, especially via digital/mobile channels
• Proficiency in the usage of the underpinning frameworks and tools for business analysis documentation such as Confluence, Jira etc
• Ability to think strategically and creatively
• Exceptional stakeholder management, interpersonal, negotiation and communication skills
• Exceptional attention to details and strong technical intuition
• The ability to manage time and schedules to meet aggressive deadlines and influence through persuasive written and verbal communication

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Come as you are! Trust is an inclusive and open-minded workplace. If you are smart and good at what you do, that’s what we care about. So come as you are. 😊

Trust is an equal opportunity employer. We prohibit discrimination and harassment of any kind. We are committed to the principle of equal employment opportunity for all employees and to providing employees with a work environment free of discrimination and harassment. All employment decisions at Trust are based on business needs, job requirements and individual qualifications, without regard to age, gender, physical ability, race, religion or belief, family or parental status, sexuality, or any other status protected by laws or regulations. We will not tolerate discrimination or harassment based on any of these characteristics. We encourage applicants of all ages.