Assistant Vice President, Group Agency & FA Development
Salary undisclosed
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About FWD Group
FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.
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PURPOSE
- Agency & FA Development – This role is responsible for driving and executing FWD’s group wide Agency & FA strategy with a focus on scaling up quality recruitment, increasing activation, productivity and delivering our ambitious business growth objectives.
- LBU support – The role is expected to go deep into partnering with LBUs in 3-4 key Agency and FA markets to execute local Agency & FA strategies to deliver an increasing contribution from these channels to overall business growth.
- Group & LBU Stakeholder management – This role is a core part of Group Agency & FA team and will need to partner closely with Group functions and LBU teams to support overall Group Distribution & Proposition business objectives.
- Group Distribution strategic planning and governance framework – support in the design of Group Distribution planning and governance and provide strong first line of defence to ensure quality and sustainability in Agency and FA development
- FWD Values: Demonstrate FWD values of Committed, Innovative, Proactive, Open and Caring
KEY ACCOUNTABILITIES
- Strategy & Business Planning - Conduct ongoing strategic reviews and support development of LBU Agency and FA Strategic Business Plans
- LBU Support - Partner with LBUs to identify and execute initiatives and programs to significantly increase Agency & FA channel APE & VNB through accelerating quality manpower scaling
- Stakeholder Management - Collaborate with Group Distribution & Propositions and other Group Office stakeholders to deliver groupwide strategic plans for Agency & FA channels
- Agency & FA Compensation & Financing - Guide LBUs to design and implement effective Agency & FA compensation and financing schemes (including both organic and inorganic) to attract and develop talents
- Recruitment & Manpower - Guide LBUs to design and implement Agency & IFA partner recruitment proposition and process (or models)
- Professional development & skills upgrade - Work with Learning & Development resources to guide LBUs to design and implement Agency onboard training strategy and roadmap
- Cross functional leadership - Lead cross-function initiatives to continuously design and implement digital solutions to increase agency and IFA partner productivity
- Agency analytics - Monitor and review Agency & FA channel performance, and provide timely analytics, business insights and strategic guidance and tactical support to deliver business targets
- On the ground support - Provide onsite business management and leadership to Agency & IFA channels upon LBUs’ request
- Best practice sharing - Facilitate best practices sharing across countries and build up leadership and performance management capabilities for LBUs
QUALIFICATIONS / EXPERIENCE
- University degree or above majoring in Business, Commerce, Actuarial, or equivalent
- At least 10 years' leadership experience and track record in life insurance sector; Leadership of an Agency or IFA channel in an Asian country level is a plus
- Experience in Agency and / or IFA strategic planning and Agency and IFA partner field management
- Competencies in Agency and IFA management with deep knowledge in agency recruitment propositions and processes, Agency and IFA compensation, Agent behavior, Agency Leader Career development, Agency training, etc.
- Experience and knowledge in industry digital trends, best practices and its associated agency and IFA models and economics
- High standard of business ethics
KNOWLEDGE & TECHNICAL SKILLS
- Understanding of the insurance industry, including current and emerging business models
- Excellent strategic thinking and problem-solving skills with strong business acumen
- Strong communication skill, influential e and persuasive, particularly with C-level stakeholders
- Demonstrate maturity and possesses transformational mindset and keen awareness of corporate dynamics and HQs environment.
- Able and willing to work independently and act as team lead in a cross-functional environment.
- Good understanding of project management methodologies, framework, and standards.
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