Here is an opportunity to build a career with a truly international market leader in the Life market. This is a challenging role for a professional who would like to be a key member of the team that drives the company’s success into new distribution opportunities. With a strong regional presence, this role requires an individual who understands the industry, processes and challenges of developing strategic partnerships in the insurance market. Working with an energetic and open minded team, this role will allow the right candidate with the headroom to develop ideas, develop the teams, both internally and externally, to take this world leading Life Company to the forefront of the market in Thailand.
Our client is a leading international financial services group with an international network of 34,000 employees and 63,000 agents worldwide. Operating in North America and Asia, the Company offers clients a diverse range of financial protection products and wealth management services through this extensive network of employees, agents and distribution partners.
Located in 10 Asian markets, their history in Asia dates back more than 100 years and have expanded their distribution capabilities to include more than 100 bank partnerships and more than 500 dealers, independent agents and brokers.
Our Client Requires
The Chief Corporate Partnership Officer will provide overall leadership in developing sales of insurance and wealth management products from all non-tied agency distribution channels (i.e., Bancassurance, Independent Financial Advisors, Affinity Marketing, Work-site Marketing, Telemarketing, Direct Marketing, Digital Channels, etc.).
The role mandate is to develop the strategy, set performance objectives and lead the execution to develop strategic partnerships across Thailand. This will involve leading the establishment and deepening of relationships with distribution partners and ensuring resources from other parts of the organisation are properly leveraged to achieve business targets.
- Develop the strategic direction and growth strategy for all non-tied agency distribution channels (including Bancassurance, Direct Marketing, Telemarketing, Work-site Marketing, Digital Channels, etc.) and then determine and put in place resources and work with peers in other parts of the organisation to ensure that strategic and financial goals for the business units are met
- In conjunction with regional colleagues and other members of the executive team, define the strategy to, negotiate and execute the establishment of business relationships with leading banks and other organisations in Thailand offering distribution opportunities, and strike an appropriate balance between product competitiveness, the Company’s profitability and the distributors’ revenue requirements
- Formulate and lead execution of a business development strategy for each new bank based on the distribution relationship, the Bank’s core Bancassurance strategy and the current product portfolio provided/planned including targeting to:
- Develop our existing key relationships to build certainty in duration of the relationship and planned volume of sales, in return for potential enhanced marketing allowance and/or possible share of statutory profits on the sales made
- Identify and execute Bank business opportunities for deepened strategic relationships (i.e. Exclusivity or Preferred Provider)
- Identify, agree and source future product needs, including new product development and delivery
- Manage the sales and servicing and operational support for partnership business to agreed service standards and internal efficiency and expense targets
- Develop additional business distribution channels (e.g. DM/TM, Retail, Work-site Marketing and Digital Channels) and incorporate into future partnership discussions to further deepen our strategic position with our partners
- To work with the partners to build and coach the sales leadership team and establish a professional, high performing sales force through continued improvement in sales force planning, recruitment, compensation practices, performance management and development
- Work with partners to ensure compliance with the relevant legislation, guidelines and codes of the regulators and the compliance guidelines of the Company’s corporate and regional offices, including ensuring that proper segregation of duties and operational controls are in place
- Lead and develop a fully engaged team of high-quality, well-trained employees with strong industry and domain experience
- Continue to build the internal capability of local teams with in-depth understanding and competence in the business
- Bachelor’s or Master’s Degree in Business Administration or related fields
- At least 10-15 years of distribution management experience (agency and non-agency related), preferably including at least 10 years of management experience in each form
- Strong communication skill and the ability to bring across ideas succinctly to business partners, Senior Management and Board of Directors
- Expert knowledge of the Financial Services industry, especially in Thailand or other Asian markets, and an understanding of the marketing, customer service and financial management aspects of insurance and wealth management operations
- Strong understanding of Banking and Insurance regulations, processes, customer behaviours and business environment
- Exceptional interpersonal and people leadership ability, to achieve objectives through others not in a direct chain of command
- A strong business orientation and determination to achieve challenging objectives
- Strong track record in planning and executing strategy
- Managing internal and external relationships
- Effective leadership skills, ability to motivate and develop staff
- Initiative and achievement orientation