About This Opportunity

Nigeria's insurance industry represents one of the most underpenetrated markets on the African continent, with insurance penetration below 0.5% of GDP despite being Africa's largest economy. This gap represents an enormous commercial opportunity — and Bancassurance, the distribution of insurance products through existing bank customer relationships and digital channels, is widely viewed as the most scalable route to closing it. Ecobank Nigeria's Bancassurance business is positioned to capture a meaningful share of this opportunity as embedded insurance propositions reach the mass market.

This Head of Bancassurance role carries full P&L accountability for Ecobank Nigeria's insurance distribution business. You will drive strategy, manage regulatory relationships with NAICOM and the CBN, build and optimise distribution through branch and digital channels, and oversee partnerships with insurance underwriters. The role has direct reporting lines to the Managing Director of Ecobank Nigeria and is expected to be a visible, commercially credible voice in both the insurance and banking markets.

Bancassurance leadership at this level in Nigeria is genuinely rare — professionals who succeed in this role typically advance to COO, MD, or Group insurance leadership positions.

JOB PURPOSE

The Head of Bancassurance – Nigeria is responsible for end-to-end leadership, growth, and profitability of the Bancassurance business within Ecobank Nigeria. The role will drive the execution of Ecobank's Bancassurance strategy, embedding insurance across all customer segments and journeys, scaling both embedded and standalone insurance propositions, and delivering strong commercial outcomes through effective partnerships, distribution excellence, and disciplined governance.

KEY RESPONSIBILITIES

Strategic Leadership

• Define and execute the Bancassurance strategy for Ecobank Nigeria, aligned with the Group's broader insurance and financial services objectives.

• Develop, launch, and scale embedded and standalone insurance products across retail, SME, and corporate segments.

• Build and manage strategic relationships with insurance underwriters and brokers to secure competitive product propositions.

• Drive revenue growth by identifying opportunities to deepen insurance penetration within the existing customer base.

Commercial Performance

• Own and deliver P&L targets for the Bancassurance business, ensuring profitability, growth, and efficiency metrics are met.

• Monitor sales performance, conversion rates, and portfolio quality; intervene where required to correct underperformance.

• Collaborate with Retail, Corporate, and Digital Banking teams to embed insurance within the wider customer value proposition.

Distribution & Channel Management

• Design and implement effective distribution strategies across branch, digital, and direct channels.

• Build and maintain a motivated, high-performing distribution force capable of cross-selling insurance products at scale.

• Drive adoption of digital insurance solutions to expand reach and reduce cost-to-serve.

Governance & Compliance

• Ensure all Bancassurance activities comply with NAICOM, CBN, and internal regulatory requirements.

• Maintain robust governance frameworks for product approval, claims handling, and partner oversight.

• Manage risk effectively, ensuring customer suitability and ethical conduct in all sales activities.

JOB PROFILE

Qualifications & Experience

• Bachelor's degree in Finance, Business Administration, Insurance, or a related field; MBA preferred.

• Minimum 8–10 years of experience in financial services, with at least 5 years in Bancassurance, insurance, or a closely related field.

• Demonstrated experience managing P&L and leading cross-functional teams.

• Deep knowledge of Nigerian insurance market dynamics, products, and regulatory landscape.

• Proven track record of growing a Bancassurance or financial services business.

Skills & Competencies

• Strategic thinking and business planning capabilities.

• Strong commercial acumen and financial literacy.

• Excellent stakeholder management and negotiation skills.

• Leadership presence with the ability to inspire and manage large, diverse teams.

• Strong understanding of digital distribution and customer journey design.

Applying for This Role

• NAICOM regulatory knowledge is non-negotiable: Familiarise yourself thoroughly with the National Insurance Commission's Bancassurance guidelines before your interview. Regulatory compliance is a core part of the role.
• Lead with a commercial vision: Prepare a clear perspective on the Nigerian Bancassurance opportunity — addressable market, product priorities, channel strategy. Show that you have thought about the business, not just the function.
• Prior P&L ownership is required: Applications without demonstrable Bancassurance or insurance P&L experience will not be competitive at this level.
• Digital distribution experience is a differentiator: Familiarity with micro-insurance, embedded insurance APIs, and digital insurance distribution platforms will distinguish your application in an increasingly tech-driven market.