Broker and Open Market Channel Manager - Santander Seguros

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Broker and Open Market Channel Manager - Santander SegurosCountry: Spain

Santander (www.santander.com) is evolving from a high-impact global brand into a technology-driven organization, and people are at the heart of this journey. Together, we are leading a customer-focused transformation that values disruptive thinking, the courage to challenge what is possible, and the ability to innovate.

This is more than a strategic shift: it's an opportunity to grow, learn, and make a real impact.

Our mission is to help more people and businesses prosper. We embrace a strong risk culture and expect all our teams to take a proactive and responsible approach to risk management.

Wealth Management & Insurance spans three businesses across all Santander countries: Insurance, Asset Management, and Private Banking. We work to deliver the best solutions to our clients in these three areas across the 10 countries where we operate.

Santander Seguros is looking for a Broker and Open Market Channel Manager based in Juan Ignacio Luca de Tena.

As Broker Channel Manager, your mission will be to lead the insurance distribution strategy in the open market by developing the broker channel and building new commercial models external to the traditional banking network.

The candidate will be responsible for designing, developing, and scaling an alternative distribution ecosystem that allows for capturing customers outside of the bank's base, increasing penetration in new segments, diversifying the insurance business's revenue sources, and strengthening the company's competitive positioning in the insurance market.

You will act as a strategic link between the banking organization, insurance companies, insurance brokers, and other distribution partners, ensuring the profitable growth of the channel under the highest regulatory and governance standards.

• Define the open market distribution vision and strategy aligned with the insurance business growth objectives.
• Design the operating and commercial model of the broker channel.
• Develop the Open Market strategy, defining the participation of external insurers and the access criteria for third-party products.
• Identify growth opportunities, market trends, and relevant competitive movements.
• Design and implement business acquisition plans outside of the bank's customer base.
• Define the specific value proposition for brokers, professional associations, consolidators, and independent distribution networks.
• Drive new commercial alliances that accelerate the expansion of the channel.
• Lead the institutional and commercial relationship with strategic brokers, brokerage firms, and mediation groups.
• Negotiate distribution agreements, commissions, collaboration models, and production commitments.
• Develop loyalty and growth programs for distribution partners.
• Identify and acquire new strategic brokers.
• Ensure a differentiated experience for mediators through tools, support, training, and value-added services.
• Supervise the commercial performance of the channel and the profitability of established relationships.
• Evaluate the strategic, financial, and regulatory feasibility of a brokerage firm partially owned by the bank.
• Define the business model, operating structure, and necessary capabilities for its implementation.
• Lead the design and implementation projects of the brokerage model.
• Coordinate the legal, regulatory, financial, technological, and commercial areas involved in the project.
• Ensure the correct management of potential conflicts of interest arising from the coexistence of banking, insurance, and mediation activities.
• Identify and develop new distribution routes beyond the traditional broker channel.
• Explore agreements with professional associations, collectives, digital platforms, affinity groups, and other strategic partners.
• Lead negotiation processes with external insurance companies.
• Actively participate in commercial innovation initiatives and the transformation of the distribution model.
• Guarantee compliance with all applicable regulations regarding insurance distribution.
• Supervise the correct application of product governance policies.
• Guarantee customer protection and transparency in commercial activities.
• Manage the reputational risk associated with the channel.
• Establish control and monitoring mechanisms for commercial activity.
• Create and develop a high-performance team specialized in mediation and external distribution.
• Define individual and collective objectives aligned with the strategic plan.
• Promote a culture oriented toward results, collaboration, and innovation.
• Lead multidisciplinary teams in matrix structures.