Insurance Counselor - VRM

Insurance Counselor - VRM

03 Jan
DBS Bank

03 Jan

DBS Bank


Job Description

Insurance Counselor - VRM - ( WD42602 )

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.

Job Purpose:

A person in this role will ensure awareness of and adherence to processes,

policies and codes of conduct laid down for CBG frontline staff. He/she will also be responsible for continuously identifying new areas of focus requiring creation of controls/processes absent or inadequate, process strengthening and additional monitoring. This persons work will be used for monitoring health (compliance to regulatory and bank standards) and preparing for future risk perceived areas.

Key Accountabilities, KPIs and Job Responsibilities

Ensure achievement of Premium Volumes and Revenue objectives of the VRM Channel.

Ensure IRDAI composite certification of new joiners and existing team members and timely renewal of the same.

Impart effective training on Specified Person code of conduct, launch / refresher training on insurance products, AML / ULIP certification trainings and keep the record of attendance to comply with internal and regulatory guidelines.

Ensure implementation of insurance sales process and the investment profile suitability of clients to the products purchased.

Ensure persistency of insurance products through coordination with Central Product team and insurer partners to ensure timely renewals of policies.

Provide feedback from market and customers to Central Bancassurance Product team for continuous improvement / ideation for new product and processes.

Ensure timely dissemination of knowledge on products, market updates and fund fact sheets amongst Branch front line team members and Unit Heads.

Track the input activities of team members through client book analysis to ensure activation on insurance and align the activities to the desired premium volumes and revenue objectives.

Ensure customer-centricity at all times, adherence to fair dealing norms and compliance to IRDAI 2015 Corporate Agency guidelines at VRM Unit.

Ensure adequacy of product brochures,

addendums and proposal forms at Branches and check for replenishment of sales kit of RMs

Ensure complaint resolution within the approved TAT through coordination with Central Bancassurance product team and insurer partners.


Demonstrated track record in FLOD, managing regulatory and operational risk along with process adherence

Exposure to monitoring of sales processes & regulatory compliance will be highly advantageous

Intensive knowledge of Indian banking and regulatory guidelines

Equipped with knowledge of sales & client interface best practices/industry developments

Minimum 7 9 years experience in banking, first line of defence (FLOD), continuous audits and process controls

Experience of multi-tasking,

managing multiple stakeholders and independently having senior level interactions

Prior exposure to process writing, controls and governance.

Education/Preferred Qualification:

Bachelors degree from a recognized university

Post graduate qualifications are desirable but not necessary if suitably compensated by top notch exposure to above listed experience

Professional qualifications or certifications on process adherence, audits, etc. are desirable but not mandatory

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