PRINCIPAL OFFICER – BANCASSURANCE @ BANK OF BARODA (TANZANIA) LIMITED
Bank of Baroda (Tanzania) Limited, a wholly owned subsidiary of Bank of Baroda, is seeking a Principal Officer – Bancassurance to lead and expand its bancassurance business. This permanent role involves driving sales performance, ensuring strict regulatory compliance with the Tanzania Insurance Regulatory Authority (TIRA) and the Bank of Tanzania (BoT), and maintaining robust relationships with insurance partners. The position is critical for delivering high-quality, ethical financial solutions to a diverse clientele including individuals, SMEs, and corporate entities. Work locations include Dar es Salaam, Arusha, Kariakoo, and Mwanza, and the candidate must be willing to transfer within Tanzania as required.
The successful candidate will oversee both life and non-life insurance products, manage claims processing, and act as a primary liaison between the bank, insurance companies, and customers. Responsibilities also include coordinating financial, audit, and tax matters related to bancassurance, as well as training staff and supporting marketing initiatives to achieve performance targets. A competitive salary package is offered to successful candidates. Applicants must submit their updated CV, certified certificates, and references to the bank's human resources department for consideration.
The successful candidate will oversee both life and non-life insurance products, manage claims processing, and act as a primary liaison between the bank, insurance companies, and customers. Responsibilities also include coordinating financial, audit, and tax matters related to bancassurance, as well as training staff and supporting marketing initiatives to achieve performance targets. A competitive salary package is offered to successful candidates. Applicants must submit their updated CV, certified certificates, and references to the bank's human resources department for consideration.
Key Requirements
Bachelor’s Degree in Insurance and Risk Management
Minimum 2 years’ experience in the insurance sector in Tanzania
Certificate of proficiency in Insurance from a recognized institution
Strong knowledge of insurance laws and regulations in Tanzania
Must be a Tanzanian national
Proven ability to lead and manage bancassurance activities ethically
Experience in developing and implementing sales growth strategies
Ability to manage relationships with insurance partners and negotiate agreements
Skills in overseeing life and non-life insurance products and claims processing
Excellent communication skills for liaison between the Bank, insurers, and customers
Experience in a commercial bank setting is an added advantage
A Master’s degree in a relevant field is considered an added advantage
Ability to coordinate financial, audit, and tax matters related to insurance
Willingness to be transferred to different regions within Tanzania as required