Regional Sales Manager - HDFC Securities - Mumbai

Job Description

1) Job PurposeDrive business and achieve targets through allocated region/area. Nurture and maintain the relationship with the channel partner for the incremental development of the business contributing by the relation and help/supervise them for the smooth function of the business process flow. Manage a team of Sales Managers to maintain the proper process of doing valued business for the organisation.2) DimensionsWhat are the areas (in quantitative terms) the job has an impact on DimensionRemarks1.Manpower (Nos.)4-5 depending on the relationshipIndirect – could range from 20 to 252.Business ImpactXxxTarget - (Individual )Annualized Premium (AVG)–5 to 10 CrComplete accountability of the Sales Target of the Vertical which has a direct impact on the Relationship’s top-line target.Customer Complaints0 Customer ComplaintsAt HDFC Customer Complaints are critical and hence every vertical head will look personallyPersistency80%Premium Persistency80%Policy PersistencyDrive 13 month Rolling Premium Persistency3) Job Context & Major Challenges(What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone Key Challenges for the role –High dependency on HDFC Bank relationships who may have their own priorities so alignment is the key.Balancing between the process requirement and expectations of the Channel partners4) Principal AccountabilitiesAccountabilitySupporting ActionsEnsure achievement of Targets (Premium & Revenue) in order to contribute in overall growth of the companyContinuous interaction ( as per RH / ZH's defined grid ) with the channel partnersMapping all the key decision makers & build review mechanism per mapping basis decided IntervalsAggressively downloading all the RnR activities to be run by BSLIEnsure smooth function of the sales and other processes in order to maximise business potential.Communicating any product changes, process change or change in any rules and regulations (internal / IRDA) with the help of different training module.Supporting in the actual sales and service aspects including sales calls, issuance and complaint handlingMaintain the expense gap in order to reduce the costUnderstanding the need of the expenseTaking commitment from the channel before any spending or allocation of the budgetMaintain a SM wise expense trackerEnsure relevant people in the right place right time in order to maximise the productivityPeople Retention@ 90% levels to be maintainedUnderstanding the strength of the resource and depending on that allocating job responsibilityEvaluating the opportunity of each business unit and allocating targets as per thatRecruit, develop and train team members to maximize productivityPosition gaps / Vacancy to be filled within a TAT of T+15 DaysEnsure the right method of business acquisition in order get the profitable mix for the organisationScrutinise the business on regular basisMaintain quality checks. Monitor Customer Complaints and adhere to defined resolution TATs - T + 72 HrsTake necessary documented actions against defaulting employees on quality / conduct parameters Ensure Persistency targets ( from 2nd year ) as per the company norms so that renewals take place on timeRegular MIS flow and Communication with Channel Partners on T-30 Basis ( T Being the renewal date )Resolve queries as and when required to ensure that renewal takes place on timeFortnightly renewal status review mechanism to be followed internallyBuilding new business opportunities within the allocated area/relationships in order to maximise the productivity / Top LineIdentify innovative methods working with the relationship to enhance penetration of the databaseSM Review Mechanism to have 40% Activation with 2 Case / Active @ 50K ATS to be focusedEnsure Product Mix - Trad 50% : ULIP 40% : Term 10%15% Business More than TATAProvide inputs for new products & Sales Pitch, basis an in-depth understanding of Channel needsIdentify training needs for the in-house and channel partner teamsRegular Product Updates and Comparative Analysis should be sharedwith Bank Leadership / Hierarchy

Keyskills :
SalesRelationship BuildingTeam HandlingLife InsuranceBank Relationship ManagementSecuritiesCapital MarketsInfluencingPersuasion