Provincial Executive - Cape Town, South Africa - Sanlam
Description
Who are we?
Sanlam Developing Markets [SDM] (a wholly-owned subsidiary of Sanlam Life Limited) is one of the top financial services providers in the South African entry-level and emerging middle market. It aims to understand the unique requirements of clients and offers a wide range of simple and affordable financial solutions that cover needs such as funeral insurance, savings for education, life cover and personal accident plans. In terms of the Sanlam Group Governance Policy, SDM is managed by the SA Retail Mass cluster, which is part of the Sanlam Life and Savings cluster within the Sanlam Group. The cluster focusses on retail products, as well as group schemes.
Purpose of the role
•To assume responsibility for increased market share in, and profitability for the province through:
• Setting and driving the provincial distribution strategy
• Driving business metrics, innovation, performance, and partnerships for the province
• Ensuring the alignment, integration and effective functioning of all functions, areas, and channels across the province
• Connecting the business with key stakeholders through partnerships and business relationships
Direct Reports
This role has direct reports.
Key Responsibilities
1. Strategy development and business planning
1.1 Strategic Leadership
• Understand the overarching distribution strategy and vision to co-create an aligned regional/provincial distribution strategy and drive the aggressive growth of the Western Cape province.
• Deliver monthly, quarterly, and annual business planning for the province. This includes formulating sales targets, expense budgets, workforce growth, tactics, projects and marketing plans for penetration and growth, provincial value propositions and strategies.
• Analyse market changes, competitors, risks, opportunities, and threats and create contingency plans for these to protect and grow market share
1.2 Budget and expense management
• Accountable for the operational execution of the budget and cost management for the province:
• Work with Channel Financial Manager to ensure that clear and robust expense budgets are managed, and that expense management processes are in place.
• Identify cost saving initiatives and create a cost awareness culture within the province.
• Understand and implement practices to ensure viability and profitability of the province.
• Have accountable oversight of the product mix across the province – working with business analysts to determine profitability drivers.
• Create and direct opportunities to increase new business streams in the Area.
• Drive the ongoing measurement of campaigns, initiatives, and training practices to ensure return on investment across the province.
2. Drive the execution of the provincial sales strategy through sales management
• Translate the provincial distribution strategy and business plan into key objectives and targets and ensure these objectives are communicated and cascaded into the different areas across the province.
• Lead the conceptualisation and implementation of tactics, projects and marketing plans for penetration and growth across all areas in the province.
• Map, plan and drive the cost-effective and profitable integration of the different channels in the province.
• Guide Area Managers in generating tactically aligned plans across branches to effectively penetrate new and existing markets within the province.
• Monitor sales performance against targets based on feedback obtained from the Area Management Committee. Identify areas of poor sales performance and guide Area Managers in formulating and implementing action plans.
• Lead a culture of high performance across all areas in the province:
• Structure and align area operating models across the province to ensure effective functioning. Drive capacity in the province, identifying mission critical roles and ensuring resources are in place.
• Drive training and upskilling in line with products and business goals.
• Align systems and processes across all areas and drive the improvement and enhancement thereof.
• Set structures in place and drive query resolution best practice across the province.
• Drive a consistent and optimal customer experience.
• Assume ownership for operational cost management and control.
• Accountable for compiling and delivering relevant management reporting on a provincial level
What will make you successful in this role?
Drive change and business innovation across the province.
• Put mechanisms in place to communicate and cascade regulatory and policy changes across the areas. Where relevant, provide regional input towards policy development and maintenance.
• Build a change management capability in the province that will support and navigate teams effectively and efficiently through changes relating to systems, processes, and organisational structures.
• Establish and drive a culture of innovation across the province.
Compliance, quality, and risk management
• Keep up to date with all relevant regulatory and legislative laws/rules/ frameworks applicable to doing business compliantly.
• Work closely with the Compliance Department to put mechanisms and frameworks in place that will ensure compliant business conduct.
• Identify areas of risk within the Area and ensure there are appropriate management processes, monitoring, reporting and corrective actions in place to minimise or eliminate these.
• Keep up to date with fraud modus operandi and work with Forensics Department to:
• Identify possibilities or potential weaknesses that can expose the business.
• Proactively put mechanisms in place to identify and resolve internal and external fraud.
People management
• Work with Human Resources and Talent Acquisition to source and select high potential talent for mission critical roles in the province.
• Embrace transformation across the province. Promote and communicate transformation as a key strategy within the area and support initiatives to achieve DTI targets and EE Targets.
• Align HR practices, with respect to recruitment and promotion of staff, to support transformation targets.
• Achieve EE appointment/promotion ratios.
• Ensure good people practices in the province are implemented and maintained (performance management, succession planning, personal development, .
• Responsible for all operational people practices relating to direct reports, in collaboration with the Human
Resource Function (talent management, performance management, individual development and growth, resolving grievances, leave allocation, capacity management, .
• Put frameworks in place to enable the accreditation and continuous professional growth of staff in the province.
• Ensure coaching and development programmes / frameworks are in place to provide work exposure and ensure personal and career growth for the staff in the province.
• Drive retention of staff to ensure a consistent service delivery to customers. Work with Human Resources to craft Employee Value Proposition and retention strategies.
Stakeholder management
• Be the face of the province (Cross Channel), and an ambassador for customers, stakeholders, and intermediaries in the province. Position Sanlam as a brand and business on provincial level in the market with key public and private market stakeholders.
• Engage in relationship building to network opportunities and influence customers.
• Engage with industry bodies (., business and community forums).
• Develop and maintain provincial business partnerships within the financial services community (including competitor liaison when required).
• Identify and engage high impact intermediary opportunities.
• Host events and functions that drive recognition and awareness.
Qualifications
• Grade 12
• Business, Legal or Commercial Degree/MBA an advantage
• CFP an advantage
• Key Individual (KI)
• It is expected that the successful candidate meets the requirements of Class of Business (COB) at the
date of appointment
Knowledge and Experience
Knowledge:
• Sales tactics and approaches
• Commercial knowledge
• Stakeholder influence, engagement, and management
• Customer service and engagement
• Customer experience principles
• Relevant Regulatory frameworks, policies, and standards
• Sanlam insurance products (ideal)
• People management practices and principles
• Utilising data and analytics to drive and measure performance
Experience:
• At least 8 years industry related experience.
• Sound Financial Services experience at a senior level within a corporate environment
• At least 5 years Sales and Distribution exposure
• At least 5 years sound management and leadership experience
Conditions of Emloyment
• Clear criminal and credit check
• Smart phone
• Own transportation
• Ability to travel frequently
The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.