Citi GCG - Regional Head of Insurance, Retail Bank (APAC) in Singapore, Singapore

  • Primary Location: Singapore,Singapore,Singapore

  • Education: Master's Degree

  • Job Function: Product Management

  • Schedule: Full-time

  • Shift: Day Job

  • Employee Status: Regular

  • Travel Time: Yes, 25 % of the Time

  • Job ID: 17057994


Job Purpose:

  • Lead Citi’s Life and General Insurance Distribution PandL business across Asia (ex Japan) and EMEA. The business spans across 17 markets, $500MM in revenues, including a distribution force of 2,800 Relationship Managers, 350+ Insurance Specialists, and 2,900+ Telesales agents serving both a regionally leading Affluent Retail Bank and Credit Card business. The role spans across all client segments and distribution channels (e.g., digital, branches, telemarketing, etc.)

  • Craft and lead execution of a transformational insurance distribution growth strategy for Citi, by customer segment, need, product and distribution channel. This should lead to significant and sustainable growth, outstanding customer experience, and high quality earnings within a strong control environment

  • Lead AIA Strategic Partnership (11 markets, 15 years exclusivity) relationship at the Senior Executive level successfully building and accelerating the business growth path. Lead Regional Steering Committee

  • Manage other partner relationships (e.g. MetLife for Credit Protection regionally, Zurich in Middle East, or other locals for specific markets or products)

  • Maintain a strong control environment that is client-centric (Treating Customers Fairly) with special focus on robust Sales Practices, and provider/product due diligence

Key Responsibilities:

Insurance Business Operating Management

  • Create a compelling strategy and executable action plan for insurance transformation. Deliver on the agreed value targets in this plan (sales, profitability, sustainability, quality of customer experience)

  • Lead the requisite model evolution as Citi moves to focus on selling Protection across, standardized products, technology, and sales operating models

  • Collaborate with Asia Wealth Management to better integrate wealth and insurance products (from a design, positioning, sales and service perspective)

  • Across Asia, actively build productive relationships with senior stakeholders within Citi, regulators, industry bodies, our insurance partners and reinsurers, and industry peers

  • Lead, in partnership with local markets, talent attraction, retention, development and upgrade programs

  • Drive business Digitization strategy execution with end to end instant straight-through processing objective

Regional Scalability

  • Proactively develop a scalable and replicable branch based insurance distribution business model regionally across the Consumer Bank (across all design, execution and embedding)

  • Craft and implement a digital distribution strategy for the business across markets

  • Develop a strong insurance advisory practice that is well integrated with core Wealth Management needs

Citi-AIA Strategic Relationship Management:

  • Citi commercial leadership, and building the business alongside AIA’s counterpart

  • Drive the design and set-up of regional product palettes, platform, tools, sale capacity and training programs

  • Ensure the Target Operating Model is operationalized and properly executed

Strong Control Environment:

  • Lead a strong governance and control framework for the business in partnership with key control functions (product risk, compliance, legal, etc.)

  • Define and monitor key performance indicators


The ideal Candidate will meet the following requirements:-

  • Insurance distribution sales experience across bancassurance, direct marketing, and digital including:

  • Sales and productivity model definition

  • Propensity model cross-sell

  • Campaign management

  • Incentive design

  • Digital experience and Digital sales

  • Insurance Product Management expertise (suitability, value for money, etc.)

  • Wealth management experience

  • Corporate/Strategic Partnership relationship management

  • Multi-market experience in a multi-national organization preferred

  • Transaction management and execution skills (distribution or M&A) valued

  • Strong insurance network talent network across the region

  • Control environment and governance management

  • Financial forecasting

Personal Skills:

  • Impeccable leadership credentials, and a demonstrated track record in delivery of complex change to a financial services operating model, coupled with acceleration in sales growth and profitability over a sustained period

  • Robust strategic, analytic and problem solving skills

  • Proven ability to deliver change and budget targets in a multi-national, matrix or direct management organization

  • Passion for design and delivery of outstanding customer experiences with a strong understanding of how digital technology can enable this

  • Great communicator (verbal, written, presentation), with strong relationship management and influencing skills at local/regional and senior/junior levels

  • Strong execution and disciplined implementation skills

  • Talent management skills

  • Strong ethics and integrity