About the Bank

Bank of Baroda (Tanzania) Limited is wholly owned subsidiary of Bank of Baroda. Presently the Bank has branches in Dar es Salaam, Arusha, Kariakoo and Mwanza.

The Bank is providing full-fledged banking operations and serving the people in all walks of life. The bank is financing businessman, traders, manufacturers, retailers, individuals, employees of well-established companies, institutions, government departments, SMEs etc. in addition to other Banking Services.

Bank of Baroda Tanzania Limited is hereby inviting applications from suitably qualified candidates to fill the following vacancy.

Position title

Designation: Principal Officer Bancassurance

Job purpose

To lead and grow the bank’s bancassurance business by driving sales, ensuring regulatory compliance, and maintaining strong relationships with insurance partners while delivering high-quality and ethical customer service.

Key duties and responsibilities

• Lead and manage all bancassurance activities, ensuring compliance with regulations and ethical standards.
• Implement strategies to achieve sales targets and grow the bancassurance business.
• Oversee agency agreements, negotiate commissions, and manage relationships with insurance partners.
• Manage life and non-life products, including claims processing within agreed timelines.
• Act as the main link between the bank, insurance companies, and customers.
• Support and drive sales across branches, including client onboarding and retention.
• Ensure high-quality customer service and ethical business practices.
• Maintain compliance with regulatory bodies (TIRA and Bank of Tanzania) and submit required reports.
• Coordinate financial, audit, and tax matters related to bancassurance.
• Train staff, identify knowledge gaps, and support marketing initiatives.
• Build strong relationships with regulators and stay updated on industry changes.
• Perform any additional duties assigned by management.
• To ensure that assigned target is achieved.

Qualifications and experience required

• Bachelor’s degree in Insurance and Risk Management.
• Candidate shall have minimum of 2 years of working experience in insurance operating in Tanzania.
• Candidates having Master’s or higher degree and having required or higher experience with any commercial bank operating in Tanzania will be given preference.
• Working knowledge of insurance legislation and regulations.
• Certificate of proficiency in Insurance from recognized college or Institution.

Who can apply

Candidates holding Local Citizenship i.e., Tanzanian Nationality only can apply for the requested Job opportunity.

All above positions will be transferrable in nature within Tanzania as per requirement of our Bank.

Remuneration

Successful candidates shall receive a competitive salary.

• Lead and manage all bancassurance activities, ensuring compliance with regulations and ethical standards.
• Implement strategies to achieve sales targets and grow the bancassurance business.
• Oversee agency agreements, negotiate commissions, and manage relationships with insurance partners.
• Manage life and non-life products, including claims processing within agreed timelines.
• Act as the main link between the bank, insurance companies, and customers.
• Support and drive sales across branches, including client onboarding and retention.
• Ensure high-quality customer service and ethical business practices.
• Maintain compliance with regulatory bodies (TIRA and Bank of Tanzania) and submit required reports.
• Coordinate financial, audit, and tax matters related to bancassurance.
• Train staff, identify knowledge gaps, and support marketing initiatives.
• Build strong relationships with regulators and stay updated on industry changes.
• Perform any additional duties assigned by management.
• To ensure that assigned target is achieved.

• Working knowledge of insurance legislation and regulations.
• Strong relationship management skills.
• Sales and marketing skills.
• Customer service skills.
• Compliance and reporting skills.
• Training and development skills.

• Bachelor’s degree in Insurance and Risk Management.
• Certificate of proficiency in Insurance from recognized college or Institution.
• Master’s or higher degree (preferred).