Head of Bancassurance

Head of Bancassurance (Digital Focus, experience in applying broker license) This is a confidential search for a digital bank in Hong Kong, committed to revolutionizing the financial services landscape. They leverage cutting‑edge technology to provide seamless, accessible, and innovative banking solutions to our customers. As part of our strategic expansion, we are launching a digital bancassurance channel to offer a comprehensive suite of insurance products. Role Summary They are seeking a dynamic and results‑driven Head of Bancassurance to pioneer their insurance distribution vertical. This is a foundational leadership role with two primary, sequential objectives: To secure a Broker License from the Hong Kong Insurance Authority (IA). Following licensure, to build, lead, and scale a high‑performing digital sales team to distribute insurance products through their digital platforms. The ideal candidate is an expert in Hong Kong's insurance regulatory environment, a proven leader in bancassurance or insurance sales, and possesses a strong vision for digital distribution. Key Responsibilities Phase 1: Securing the Broker License License Application Leadership : Serve as the primary project lead and Responsible Officer (RO) candidate for the Insurance Broker License application with the Hong Kong IA. Regulatory Compliance : Develop and implement all policies, procedures, and control frameworks required by the IA, including those for AML/CFT, “Fit & Proper” assessments, client privacy, and complaint handling. Governance Framework : Establish the governance structure for the bancassurance unit, ensuring it meets all regulatory requirements for licensing and ongoing operations. Stakeholder Management : Liaise directly with the Insurance Authority, legal counsel, and internal compliance teams to shepherd the application process to a successful conclusion. Product & Partner Strategy : Begin initial scouting and negotiations with potential insurance carrier partners, aligning product offerings with our digital bank's customer base and strategic goals. Phase 2: Building and Leading the Digital Sales Team Team Building : Recruit, train, and mentor a team of digital insurance specialists, team leaders, and support staff. Foster a high-performance, compliant, and customer‑centric culture. Digital Sales Strategy : Design and execute the end-to-end digital sales and distribution strategy. Integrate insurance offerings seamlessly into the bank's mobile app and online banking ecosystem. Performance Management : Set clear KPIs (e.g., sales targets, conversion rates, customer satisfaction) and implement performance management systems to drive team productivity and growth. Training & Development : Develop ongoing training programs to ensure the team maintains high levels of product knowledge, digital sales skills, and strict regulatory compliance. Channel Management : Optimize the customer journey for insurance discovery, education, and purchase across all digital touchpoints. Qualifications and Experience Minimum 10 years of experience in bancassurance, insurance sales, or distribution, with at least 5 years in a senior leadership capacity within Hong Kong. Proven, hands‑on experience in successfully applying for and securing a broker or insurance intermediary license from the Hong Kong Insurance Authority. Candidates without this specific experience will not be considered. Must meet, or be able to meet, the IA's “Fit and Proper” criteria to be approved as a Responsible Officer (RO). Extensive knowledge of the Hong Kong Insurance Ordinance (Cap. 41), GN16, and all other relevant IA guidelines. Demonstrated experience in building and scaling a sales team, preferably within a digital or direct‑to‑consumer environment. Strong existing relationships with major insurance carriers in Hong Kong. Bachelor's degree in Business, Finance, Law, or a related field. An advanced degree or professional qualifications (e.g., FLMI, CFP) is highly desirable. Location: Sheung Wan, Central and Western District, HK #J-18808-Ljbffr