Relationship banking manager to insurance product manager
A relationship banking manager already meets 58% of what the insurance product manager role asks for. The move turns on 9 required skills not yet in the profile.
48.4/ 100
1 How much of what an insurance product manager is expected to do is already part of a relationship banking manager’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the insurance product manager role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
An insurance product manager role treats 17 of its required skills as things a relationship banking manager already does. You would walk in with these on day one.
- advise on financial matters
- analyse financial performance of a company
- analyse financial risk
- analyse market financial trends
- corporate social responsibility
- create a financial plan
What stands in the way is 9 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.
Table 2 · What you already bring
Of the 19 skills that carry over, these are the ones fewest other occupations ask for. An insurance product manager role needs them, and most people applying for one will not have them already. This is the part of a relationship banking manager background worth leading with.
- already held principles of insurance business, administration and law
- already held types of insurance business, administration and law
- already held enforce financial policies management skills
- already held financial analysis business, administration and law
- already held financial products business, administration and law
- already held analyse financial performance of a company information skills
All 19 carried skills, including the 17 the insurance product manager role treats as required.
Table 3 · What you may need to learn
The 20 missing skills fall into 5 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.
- still to learn sales strategies required
- still to learn insurance law required
- still to learn insurance market required
- still to learn marketing management required
- optional, not held modern portfolio theory optional
- still to learn develop financial products required
- still to learn supervise sales activities required
- still to learn plan marketing campaigns required
- optional, not held develop investment portfolio optional
- optional, not held manage staff optional
- optional, not held recruit employees optional
- still to learn promote financial products required
- still to learn create insurance policies required
- optional, not held deliver a sales pitch optional
- optional, not held sell insurance optional
- optional, not held create cooperation modalities optional
- optional, not held ensure cross-department cooperation optional
- optional, not held review investment portfolios optional
- optional, not held perform market research optional
- optional, not held statistics optional
Table 4 · Where to start
The 3 entries an insurance product manager role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 develop financial products practise this
- 02 promote financial products practise this
- 03 sales strategies study this
Each entry opens a course search for that skill. Career Overlap earns nothing from these links.
Appendix · The rest of the record
All 19 skills that carry over
- already held advise on financial matters skill
- already held analyse financial performance of a company skill
- already held analyse financial risk skill
- already held analyse market financial trends skill
- already held corporate social responsibility knowledge
- already held create a financial plan skill
- already held enforce financial policies skill
- already held financial analysis knowledge
- already held financial management knowledge
- already held financial products knowledge
- already held financial statements knowledge
- already held follow company standards skill
- already held liaise with managers skill
- already held manage financial risk skill
- already held principles of insurance knowledge
- already held strive for company growth skill
- already held types of insurance knowledge
- already held obtain financial information skill
- already held plan health and safety procedures skill
11 supplementary skills, helpful but not required
- optional, not held deliver a sales pitch optional
- optional, not held sell insurance optional
- optional, not held create cooperation modalities optional
- optional, not held develop investment portfolio optional
- optional, not held ensure cross-department cooperation optional
- optional, not held manage staff optional
- optional, not held modern portfolio theory optional
- optional, not held perform market research optional
- optional, not held recruit employees optional
- optional, not held review investment portfolios optional
- optional, not held statistics optional
37 held skills the insurance product manager role does not ask for
- not needed by the target role accounting techniques knowledge
- not needed by the target role advise on credit rating skill
- not needed by the target role advise on investment skill
- not needed by the target role analyse business plans skill
- not needed by the target role apply credit risk policy skill
- not needed by the target role apply technical communication skills skill
- not needed by the target role assist in loan applications skill
- not needed by the target role build business relationships skill
- not needed by the target role business loans knowledge
- not needed by the target role business management principles knowledge
- not needed by the target role communicate with banking professionals skill
- not needed by the target role conduct financial audits skill
- not needed by the target role consult credit score skill
- not needed by the target role core banking software knowledge
- not needed by the target role customer service knowledge
- not needed by the target role economics knowledge
- not needed by the target role ensure compliance with company regulations skill
- not needed by the target role examine credit ratings skill
- not needed by the target role financial jurisdiction knowledge
- not needed by the target role financial markets knowledge
- not needed by the target role foreign valuta knowledge
- not needed by the target role identify customer's needs skill
- not needed by the target role inform on interest rates skill
- not needed by the target role maintain relationship with customers skill
- not needed by the target role monitor loan portfolio skill
- not needed by the target role monitor stock market skill
- not needed by the target role mortgage loans knowledge
- not needed by the target role negotiate with stakeholders skill
- not needed by the target role offer financial services skill
- not needed by the target role operate financial instruments skill
- not needed by the target role present reports skill
- not needed by the target role prospect new customers skill
- not needed by the target role provide cost benefit analysis reports skill
- not needed by the target role provide financial product information skill
- not needed by the target role relationship marketing knowledge
- not needed by the target role securities knowledge
- not needed by the target role tax legislation knowledge
6 gaps that are knowledge rather than practice
Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.
- still to learn sales strategies required
- still to learn insurance law required
- still to learn insurance market required
- still to learn marketing management required
- optional, not held modern portfolio theory optional
- optional, not held statistics optional
Other moves recorded from relationship banking manager
Common questions about this move
Can a relationship banking manager become an insurance product manager?
Yes, and it is a moderate move. A relationship banking manager already covers 58% of what an insurance product manager is expected to do: 19 skills carry over, 17 of which the insurance product manager role treats as required.
What skills does a relationship banking manager need to become an insurance product manager?
9 required skills are missing, plus 11 optional ones. They fall into 5 areas of the ESCO skill hierarchy, led by business, administration and law. The single most important is develop financial products.
How hard is the move from relationship banking manager to insurance product manager?
Its learning distance is 48.4 out of 100, which is the moderate band. That accounts for both how much is missing and how specialised those skills are.
How this record was compiled
Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.