AVP - Bancassurance Sales & Business Development

3 Aces Koncepts
  • Mumbai
  • 8-10 years
  • Confidential
  • Sales/ Business Development/ Account Management
  • Financial Services/ Capital Markets
  • Assistant Vice President/ AVP
  • 28 Feb 2014

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Job Description

Job Purpose:

Business Development and Channel Management:
Identify potential banks and partners for Corp Agency and tie ups
Develop Go to Market strategy for the Corp Agency and Bancassurance.
To engage with the top management of the banks/partners to build market.
To evolve and develop suitable sales model based on the strength of the acquired partner.
Internal alignment of processes as per the partners process
Define strategic roadmap on Product Penetration across bank customer segments
Work towards seamless bank integration at Operational & Technological level
Distributor Level P&L Responsibility and Top Line Business Production.
To engage with Distributor &Shareholder and internal stakeholders and
To engage with Distributor &Shareholder and internal stakeholders and drive the business with periodic Governing Boards and Steering Committees
To identify new customer segment opportunities, thereby conceptualizing, designing and implementation of focused Marketing/ Branding /below the line campaigns nationally.
To engage with internal stakeholders and analyze existing business processes and design new and more efficient/ cost-effective and customer friendly business processes, depending upon respective Distributor needs and requirements.
Internalise the Management philosophy of the company and take input from the market and channel and then devise the business strategy for the channel and region.
Ensure that the existing business partners are engaged , motivated and productive by forging a strong relationship with them.
Ensure that new Business Partners are constantly inducted, activated and productive.
Drive the incentive schemes to ensure that the income of the Relationship managers and business partners income exceed benchmark.

b. Driving AOP in the Zone:
Recruit Area Managers/ Relationship Managers to handle various partners
Drive targets across relationships for his region
Engage with Circle Heads to drive strategies and initiatives.
Local level incentives /initiatives to be spearheaded.
Maintain activisation and productivity of the CIF
Maintain productivity of our Area Managers/RMs.
Drive persistency at Circle level.
Goal setting of all Relationship Managers in the region
Regular and periodic review, monitoring and mentoring of the Relationship Managers to ensure that they are on track to achieve their goals.
Regular classroom and on the field training of the team to equip them h t he necessary skill sets to perform optimally.
Ensure that the defined sales process of the company is adhered to by the team.
Identify and groom future leaders in the team.

c. Business Expansion:
Identify potential locations in the region
Appoint business partner in these locations to procure business.
Identify training needs and map the training team to enhance productivity.

d. Liaison with Home Office:
Own the resource and expense budget for the region.
Plan budgeting of resources for the region.
Drive the Ci R&R schemes floated by HO from time to time.
Design own regional level R & Rs, marketing activities and implement them.
Support the business partners in liaison with the HO for addressing their requirements/ concerns.
Percolate the management guidelines to the entire team.
Being fully compliant to all the norms laid down by the regulators and the company.
Keeping the expense ratio of the region well within the defined budget.
Manage channel conflicts in the region.

Accountabilities :

Business Targets:
Exceed the business plan for the region on all key parameters within the defined time frame

Resource Management:
Recruit and retain the complete module of Relationship Managers and business partners.

Expense Management:
Monitor the P&L account of the region to keep it profitable.

Adherence to all compliance requirements laid down by the regulators and the company.

Qualifications and Experience:
Minimum a graduate.
Preferably Post Graduate Degree/Diploma in Management.

8-10 years of relevant work experience preferably in financial services distribution.
Experience in dealing with Senior Management of banks
At least 6 years in team handling .
Preferably having prior experience in handling business partners like corporate agents , brokers etc.


Analytical Skills:
Ability to analyse the strengths and weakness of the channel partner to align our strategies.
Designing Sales Strategies to achieve the business goals.
Analytical skills to read , interpret MIS
Skill sets to negotiate and forge relationship with various business partners.

Domain Knowledge:
Deep understanding of Banking framework
Well networked in the insurance industry
Sound domain knowledge of the insurance/health insurance policies and practices in India.
Good knowledge of the legal and regulatory requirements and compliances

Leadership Attributes:
Strong written and verbal communication skills
Ability to manage a team, keep it motivated and handle conflicts in a mature and tactical way.
Result orientation.
Ability to spot and utilise opportunities
Energetic and enthusiastic personality.

Dimensions : This is a start up company and hence likely to grow many fold in the next 3 to 5 years.

Environment : The environment is fast paced, it is a start up and as a result the team leaders are relied upon to make reactive/quick decisions as experience levels amongst advisors can vary. The market is extremely competitive and we expect increasing flexibility from both the distribution partners and team managers.

About Organisation

3 Aces Koncepts

Nitin Bansal