Specialist, Product Management - Bancassurance, Consumer Banking

Business Function

As the leading bank in Asia, DBS Consumer Banking Group is in a unique position to help our customers realise their dreams and ambitions. As a market leader in the consumer banking business, DBS has a full spectrum of products and services, including deposits, investments, insurance, mortgages, credit cards and personal loans, to help our customers realise their dreams and aspirations at every life stage. Our financial solutions are not only the best in the business – they were made just right for you.

Accountabilities

• •Achieve the joint business plan for both life & GI
• •Formulate the strategy for sales / customers marketing initiatives and secure segment buy-in, lead the execution
• •Formulate the strategy for online life & GI business, lead the execution
• •Penetration of 50k card base customers with micro GI insurance

Responsibilities

Channel Marketing

Sales Promotion & Marketing Events

• •Based on agreed strategy, lead the channel marketing team to launch / execute the various sales incentive programs, events, convention etc. for each segment, ensure the programs fulfil the regulatory requirements as well as company guidelines, obtain the proper sign off before launch
• •Proper and effective communication to frontline, monitor results from these sales incentive programs to assess effectiveness and identify areas of improvements for future
• •Proper estimation of funding required and ensure this can be covered by sales & marketing allowance budget (S&MA) from Manulife
• •Manage Manulife expectation and seek proper approvals from Manulife on the usage of S&MA
• •Responsible for the overall control, governance, reconciliation and management of S&MA

Customer Promotion & Marketing Events

• •Based on agreed strategy, lead the channel marketing team to launch / execute the agreed customer promotion, discount offers, appointment gifts, customer events etc. for each segment, ensure the above fulfil the regulatory requirements as well as company guidelines, obtain the proper sign off before launch
• •Ensure proper budget, manage Manulife expectation and overall governance of S&MA similar to sales promotion & marketing events above

Insurance Proposition / Need Based Marketing

• •Formulate the strategy on presenting the various insurance propositions to customers – retirement savings, legacy planning, education, managing wealth, protection, health to further strengthen need based / emotional marketing to the customers
• •Enhance sales tools, customers promotions, marketing tools, marketing messages to facilitate need based / emotional marketing to our customers
• •Leverage on Manulife or external training programs to further enhance our frontline’s need based / emotional selling skills
• •Position DBS as a trusted insurance advisor that have the right solution to fulfill the customer’s goals at different life stages

Digital Marketing

Online Development for GI & Life Products

• •Formulate the strategy on digital GI and life by collaboration with insurance partners, internal digital and marketing team to maximize the opportunity either by online or hybrid online/offline model
• •Explore the utilization of micro-insurance to penetrate existing card and loan customers and increase insurance penetration. Utilization of these leads to cross-sell other higher ticket size insurance products that meets the customer’s need.
• •Explore with life provider on accident & health or short-term endowment products that could be offered to card and loan customers via online / hybrid model
• •Need based / emotional online marketing and promotion strategy
• •Represent banca team on all group digital / online initiatives
• •Lead the digital marketing team to launch various initiatives to support online development

Data Driven Operating Model / Data Analytics

• •As the banca lead to work with CBG data analytics team and formulate strategy on how to leverage on customer profile / transaction data to identify opportunity and come up with propensity model to maximize insurance sales both in face to face and digital channels
• •Maximize the use of data and AI to drive scalable banca income growth and as the key lead to help support CBG’s Hunt-In-A-Pack initiative

Eco-System Partnership Development

• •Supports the overall CBG eco-system partnership development and represent banca to maximize the opportunity for GI & life penetration into partner’s eco-system by leveraging on partner’s customer data and online capability
• •Effective marketing strategy to maximize the exposure and business opportunity in the partnership
• •Lead the digital marketing team to launch various initiatives to support eco-system development

Requirements

• •-A minimum of 10-20 years of professional experience, with significant exposure to product and/or loan documentation within the banking or insurance sectors.
• •Demonstrable experience in navigating complex regulatory landscapes, preferably with a focus on bancassurance and premium financing.
• •Prior experience working in a legal firm, consulting firm, or within the Legal & Compliance or product teams of a bank or insurer.

• •Deep understanding of compliance and legal frameworks relevant to financial products, particularly bancassurance.
• •Excellent analytical and problem-solving skills, with the ability to interpret intricate regulations and translate them into actionable business processes.
• •Strong cross-functional liaison and communication skills, with the ability to influence and collaborate effectively with diverse stakeholders at all levels.
• •Impeccable attention to detail and a commitment to accuracy in all documentation.

Apply Now

We offer a competitive salary and benefits package and the professional advantages of a dynamic environment that supports your development and recognises your achievements.

Location:

One Island East

Job:

Product Management

Schedule:

Regular

Employee Status:

Full time