Head of Bancassurance & Principal Officer

National Bank Bancassurance Intermediary Ltd (NBIL), a subsidiary of National Bank of Kenya, is seeking an accomplished and visionary professional to serve as Head of Bancassurance & Principal Officer. This senior leadership role is responsible for overseeing the full breadth of bancassurance operations, business development, compliance, and stakeholder management. The successful candidate will drive strategic initiatives that support growth across both captive (bank customer base) and non-captive markets, ensuring the business achieves its revenue and service excellence goals.

Key Job Information

• Position: Head of Bancassurance & Principal Officer
• Location: Head Office – Nairobi, Kenya
• Employment Type: Full-Time
• Experience Level: Senior Management
• Division: National Bank Bancassurance Intermediary Ltd (NBIL)
• Grade: MG5

About National Bank of Kenya

National Bank of Kenya (NBK), a wholly owned subsidiary of KCB Group PLC, is one of Kenya’s leading commercial banks with a rich legacy spanning over five decades. As a top-tier financial institution, NBK provides comprehensive banking solutions to individual, SME, corporate, and institutional clients nationwide. Through its robust banking channels and customer-focused innovations, the bank has continued to be at the forefront of transforming lives through financial empowerment.

NBIL, the Bancassurance arm of NBK, is fully licensed by the Insurance Regulatory Authority (IRA) and is mandated to distribute insurance products to bank customers and external clients. The firm leverages NBK’s vast distribution network and technological capabilities to offer insurance solutions that address the evolving risks of today’s businesses and individuals.

Job Description

This is a high-impact role that demands strong strategic vision, operational excellence, and a results-driven mindset. The Head of Bancassurance & Principal Officer will be tasked with setting and executing the Bancassurance business plan, ensuring compliance with IRA and CBK guidelines, strengthening stakeholder relationships, and growing the bank’s insurance footprint across all customer segments. The role will require close coordination with internal departments such as Retail, SME, and Corporate Banking, as well as external partners including insurance underwriters and regulatory bodies.

Key Responsibilities

Strategic Planning & Execution

• Lead the formulation and execution of NBIL’s long-term strategy aligned with the bank’s overarching vision and revenue goals.
• Design and manage annual business plans, including budgeting, forecasting, and performance monitoring frameworks.
• Ensure delivery of strategic objectives through effective planning, coordination, and oversight of operations.

Business Development & Growth Management

• Develop aggressive sales strategies targeting both captive and non-captive clients to grow premiums and customer base.
• Drive market expansion through partnerships, cross-selling, and bundled financial services across the bank’s customer ecosystem.
• Lead market analysis efforts to identify new opportunities and recommend product-market fit enhancements.

Product Innovation & Customer Segmentation

• Collaborate with underwriters and internal stakeholders to identify customer needs and develop fit-for-purpose insurance solutions.
• Enhance product portfolios to address retail, SME, and corporate segment needs in life, general, and specialty insurance lines.

Compliance, Risk & Governance

• Act as the Principal Officer in line with IRA requirements, ensuring NBIL’s full compliance with regulatory expectations.
• Maintain proper internal control systems, audit trails, and compliance checklists in line with banking and insurance laws.
• Oversee risk management initiatives and align operational procedures to meet CBK and IRA prudential standards.

Stakeholder & Partner Relationship Management

• Build long-term relationships with key stakeholders including underwriters, agents, and regulators to strengthen the company’s market position.
• Negotiate and manage partnership agreements to ensure service level excellence and mutual value delivery.

Branding & Market Presence

• Champion NBIL’s brand and visibility through targeted marketing campaigns, PR engagements, and strategic partnerships.
• Work with the marketing team to position NBIL as a trusted provider of insurance solutions across digital and offline platforms.

Leadership & Team Development

• Provide vision and direction to the Bancassurance team, ensuring accountability and high performance.
• Foster a culture of innovation, customer-centricity, and continuous improvement within the department.

Required Qualifications

• Bachelor’s degree in Insurance, Business Administration, or a related field.
• Certificate of Proficiency (COP) in Insurance – Mandatory.
• Minimum 10 years of progressive experience in the financial services or insurance sector, at least 5 years of which should be in a senior management role.
• Strong experience in bancassurance operations, underwriting, or insurance sales strategy.

Preferred Qualifications

• Master’s degree in a relevant discipline such as Business, Finance, or Risk Management.
• Postgraduate qualifications or certifications in banking, insurance law, or risk management.
• Demonstrated ability to lead cross-functional teams in a regulated environment.
• Familiarity with insurance software platforms and digital transformation strategies.

Benefits and Compensation

• Competitive executive compensation package aligned with market benchmarks.
• Performance-based bonus and incentive programs.
• Comprehensive medical insurance for employee and dependents.
• Pension plan and retirement benefits.
• Opportunities for professional development, training, and leadership coaching.
• Dynamic, inclusive, and supportive work environment committed to innovation and growth.

How to Apply

Qualified candidates who meet the criteria outlined above are encouraged to apply by submitting their detailed resume and cover letter. All applications must be submitted before the specified deadline. Please note that only shortlisted applicants will be contacted for further stages of the recruitment process.

Important: Applications submitted after the deadline will not be considered. Ensure all required documents are included at the time of submission.

Careers at National Bank – Why Join Us?

National Bank of Kenya is more than a place to work—it’s a place to grow. As a subsidiary of KCB Group, the bank is committed to excellence in customer service, innovation, and talent development. Joining NBIL means working at the intersection of finance and insurance, empowering you to make meaningful impact in the lives of customers and the financial ecosystem.

Whether you are passionate about financial inclusion, insurance innovation, or strategic leadership, NBK provides the right platform for growth and transformation. If you’re looking for top bancassurance jobs in Kenya and want to play a part in shaping the future of financial protection, this opportunity is for you.