Provincial Executive | Life & Investments | Pretoria
Role Purpose:
- Contribute to the creation of the annual provincial distribution strategy
- Create, execute and be accountable for the geographical Agency Distribution vision and strategy/plan of
Individual Life Distribution annually - Demonstrate inspirational leadership for Area Managers
- Drive business innovation through partnerships with identified partners
- Implement the Provincial strategic plan of the Senior Implementation and Relationship Executive
- Represent the ambassadorial ‘face of the province’ in terms of events, recognition
- Ensure collaboration and synergy between all channels across segments in the province to drive sales
and market share growth - Accountable for achievement of profitability (VNB and expense management) for the province
- Ensure adherence to compliance and risk management for the province
- Ensure operational excellence within the province
- Develop talent and drive transformation
- Lead with courage
- Serve with pride
- Care because we respect each other
- Act with integrity & accountability
- Grow value through innovation & superior performance
Undertake strategic leadership
Form part of the Agency Mancom that takes collective accountability for the decision making and leadership of the Agency Distribution
Analyse market changes, competitors, risks, opportunities and threats and create contingency plans for these in order to protect and grow market share
- Be overall accountable for the profitability and success of the province with respect to strategic attainment of business plans, decision making, operations, sales, compliance and customer service
- Understand the overarching SKY Individual Life strategy and vision in order to co-create (with the Area Managers and provincial team) an aligned national distribution strategy that incorporates all 5 channels across the different segments
- Lead a culture of high performance within the province through present and courageous leadership and ensuring that the region;
- is structured and set up correctly in order to function effectively
- is adequately resourced to meet goals/targets
- is trained, developed and up-skilled
- is clear on their business goals and share a common sense of purpose
- is motivated, encouraged and supported in their jobs
- is disciplined, performance managed and rewarded appropriately
Strategically drive the execution of the provincial sales strategy through sales management
• In conjunction with the Area Managers, communicate the channel distribution strategy at a provincial level and work with the Provincial Team to formulate the provincial business plan including;
o sales targets
o expense budgets
o manpower growth
o tactics, projects and marketing plans for penetration and growth o create provincial value propositions and strategies
o broaden existing intermediary base and market share
- By working closely with the Area Managers to ensure that there is a sound understanding of how the different channels need to work collaboratively to achieve the strategy and that processes and communication within the province and between teams support this
- Ensure Area Managers generate tactically aligned plans within the sales teams to effectively penetrate new and existing markets within the region
- Get regular feedback and updates from the Area Managers and provincial teams on sales performance against target. Report these back to Agency Mancom
Undertake the regional ambassador role- Be the face of the province (Cross Channel), an ambassador for clients, stakeholders and intermediaries in the province (relationship building, events, recognition conferences, networking, opening doors, influencing etc.)
- Positioning of company as a brand and business on provincial level in the market with key public and private market stakeholders
- Engage with industry bodies (i.e. 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
- Forge close relationships and influence with Product Houses and key HO functions on behalf of the
province in order to partner with the province for support and collaboration
Be accountable for the provincial expense budgets and profitability
The Provincial Executive has strategic accountability and oversight of the items below, however not direct operational responsibility.
Budgets and expense management:
Work closely with Channel Finance Manager to;
Ensure that clear and robust expense budgets are created and managed, and that expense management processes are undertaken
Be overall accountable for the achievement of the provincial budget
Constantly look for cost saving initiatives and create a cost awareness culture within the province
Profitability:
- Understand and implement practices to ensure viability and profitability of the province
- Have accountable oversight of;
- VNB
- Product mix.
- Create and direct opportunities to increase new business streams
Be accountable for risk management and compliance within the province (including Key Individual)
Work closely with Area Managers and Compliance Officer to ensure accountability for;
- Demonstrate the knowledge and understanding of all relevant regulatory and legislative laws/rules/
frameworks applicable to doing business compliantly - Be able to adapt quickly to changes to remain competitive and compliant
- Demonstrate the knowledge and understanding of all relevant regulatory and legislative laws/rules/
- Drive ongoing awareness and education of compliance within the province
- Knowledge, accountability and ability to be accredited for and undertake the 16 duties of a Key
Individual (KI) requirements for the province
- Knowledge, accountability and ability to be accredited for and undertake the 16 duties of a Key
- Identify areas of risk within the province and ensure there are appropriate management processes,
monitoring, reporting and corrective actions in place to minimise or eliminate these
Drive change and business innovation within the province
- Identify areas of risk within the province and ensure there are appropriate management processes,
- Drive and support the SKY Individual Life and Agency Distribution strategy
- Act as sponsor for all major internal change initiatives (i.e. restructuring) within the province
communication/visibility, change management and support activities
- Act as sponsor for all major internal change initiatives (i.e. restructuring) within the province
- Identify areas within the provincial operation that need to be made more effective, cost efficient or
client centred; and create actions and projects to improve these through innovation
- Identify areas within the provincial operation that need to be made more effective, cost efficient or
- Create a culture of innovation within the province
- Encourage and reward staff for business innovation ideas that save costs, increase value add or
make processes more effective
Build and develop relationships, networks and new markets
- Encourage and reward staff for business innovation ideas that save costs, increase value add or
- Cost to Income ratio.
Work closely with the Senior Implementation and Relationship Executive, Key Accounts Specialists, and other Individual Life Distribution partners and different distribution support resources to identify high impact clients, associations and worksites/ companies (public and private sector) to approach and build relationships with
People Management
Recruitment and Selection:
Ensure that high potential talent is sourced and selected into the province to support the vision and talent succession needs
Diversity and transformation:
- Embrace transformation in the province. Promote and communicate transformation as a key strategy within the region and support initiatives to achieve DTI and EE targets
- Align HR practices and decisions within the province, with respect to recruitment and promotion of staff, to support transformation targets
Train, coach and mentor staff
- Ensure all direct reports have development plans, discussions and are suitably trained for their positions
- Ensure there is ongoing and robust vesting and development of Advisors within the province (through SM’s)
- Ensure that direct reports are coached, developed and motivated to become productive and vested as soon as possible
- Act as mentor to key staff within the province
- Performance contracting and management
- Undertake effective performance contracting with all direct reports (Scorecards)
- Undertake performance management and performance discussions with all direct reports
- Ensure updated job profiles, competency models and KPA documents for all staff
- Update and manage annual and sick leave
- Achieve EE appointment/promotion ratios
- Undertake staff career development and talent retention strategies
Qualification & experience - Grade 12
- Business, Legal or Commercial Degree/MBA
- CFP an advantage
- Key Individual (KI)
- It is expected that the successful candidate meet the requirements of Class of Business (COB) at the date
of appointment
Knowledge and skills - Sound Financial Services experience at a senior level within the corporate environment
- At least 2 years Sales and Distribution exposure
- At least 5 years management and leadership experience
Personal qualities - Strategic thinking abilities
- Leadership abilities (vision, courage, values, ethics, connecting with people)
- High energy levels and action orientation with tenacity
- Sound political acumen
- Able to operate, challenge and influence at a strategic/executive level
- Socially confident and skilled to communicate well
- Able to inspire and motivate others into action
- Results orientation (sales/target focussed)
- Influencing abilities
- Networking and natural relationship builder
- Stress tolerance and ability to work with ambiguity
