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Aditya Birla Capital Limited
Aditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 63,750 employees, the businesses of ABCL have a nationwide reach with over 1,712 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,712
No. of Employees
63,750+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.50 Lakh Cr
Active Customer Base
39 Million
Consolidated Lending Book
INR 1.78 Lakh CrCorporate Governance Policies
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Job Description
Branch Manager - Erode
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Job Description
Job Purpose
The purpose of this job is ensure achievement of business targets and enhancement of profitability of the assigned branch by providing effective leadership, planning resources, monitoring people performance & market changes & ensuring timely operations support to ensure smooth functioning.
It also includes distribution building, retail development and recruitment of FLS and Advisors
Job Context & Major Challenges
Job Context/ Job Challenges:
About the Health Insurance Industry –
While the current market sees more than 15 non-life players in the private space and 5 exclusive private players in the health insurance space trying to capture a sizable market share, the nationalised service provider (6) remains a strong competitor. In addition to this the business dynamics are such that the overall market on an annual basis which is to the tune of roughly 10,000 Crs sees close to 85 % of the business renewing with the existing service provider itself. This narrows down the opportunity of the fresh business actually being seriously fought in the market to approximately 1500 odd Crs.
Opportunities – With the advent of medical advancements, lifestyle changes, change in Indian socio-economic scenario and Indian healthcare space the clients are facing challenges to cater to the needs of diverse workforce. Increasingly Indian clients have started considering group benefits as a lever to manage employee expectations, talent acquisition and retention. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions which would help them meet their end objectives and bring in profitable revenue source for the company.
Perspectives:
Distribution: To identify and develop a relationship with new partners to maximize reach. To strengthen relationships with partners to ensure greater mind-share and thereby higher market-share in a very short span of time.
To enable the teams to align with the organization objectives and processes to create an effective and motivated sales team which will lead to better productivity and quality of business. Implement long term and short term strategic plans to increase the market share and profitability in line with the company’s business objectives.
Identifying new segments and opportunities to structure offerings and cross sell in a very competitive market.
Key Challenges for the role –
• SMEs may not value the employee value proposition offered in a health insurance cover and therefore it is much more difficult to help them realise the need of Health Insurance
• Though the market was hitherto not fully tapped, competition has also realised the importance of SME segment and has turned aggressive in it, therefore the deals structured are more aggressive and at lower margins.
• Lack of historical data: Data based analytics is possible for players having historical data and in business for years. At the onset opportunity identification needs to be done basis feedback from partners, clients and experience. The decision to pursue an opportunity might not always be backed by data.
• Affinity channel has to be started ground-up with building a large base of partners. It is a highly segmented but profitable business.
• Inter departmental challenges: Offering and structuring a deal often involves working with various departments like operations, claims, actuarial etc. to see what best can be offered. There may be instances that actuarial may not be comfortable offering a particular price that has been made available to the customer and hence working with them to see how best can things be modulated is often a tough ask. Also getting various stakeholders and constituents to the process like operations to understand the sensitivities of the various partners involved and seeing the creation of a process which meets our objective without offending either the partner concerned or the internal norms gets to be a challenge that has to be fought on a daily basis.
Key Result Areas
| KRA (Accountabilities) (Max 1325 Characters) | Supporting Actions (Max 1325 Characters) | |
|---|---|---|
| KRA1 | Ensure budgeted capacitation at branches & achieve business targets assigned for the area through & with BM to meet the functional goals. | • Hire quality manpower BM • Assist & guide the Branch Managers in proper recruitment of the Front Line Sales Force • Ensure execution of an aggressive distribution creation strategy to acquire requisite number of productive agents from a crowded market to achieve targeted market penetration • Monitor the status of the budgeted capacity vis-à-vis the actual strength on board • Assist & guide on the profiles of the recruited candidates for insurance advisors • Carry out goal setting of each individual for month, quarter & year • Plan sales strategies by analyzing performance of various branches and deploying appropriate focus to enhance sales in all. • Create effective engagement interventions at the regional level to ensure high levels of activity & delivery • Conduct periodic reviews to monitor the key business levers and take corrective action where necessary • Review the progress of the Front Lines Sales team on the assigned goal sheet. |
| KRA2 | Drive implementation of agency initiatives aimed at improving sales productivity across the assigned branches. | • Ensure daily adherence of sales process by way of effective planning and review. • Ensuring sales progression of the regional sales by reviewing and Motivating team for setting higher performance standards • Driving activities leading to maximum incentive earners at FLS & BM levels |
| KRA3 | Ensure Training & Development for the Sales Force in the assigned territory to enhance skill development. | • Identify the training need & collaborate with the training team to ensure that the timely training of the Agency Managers • Identifying the training need & timely preparation of the training program for the advisors • Fulfill the training needs of the Branch Managers in collaboration with the sales training team. |
| KRA4 | Maintain relationship with the top advisors of the branches/area to enhance motivation levels. | • Regularly meet the top advisors of his branches/area. • Maintain good relations with the top performers/club members. |
| KRA5 | Track attrition and renewal to achieve business health for the area. | • Mentor; motivate value adding the Sales forces. • Ensure a high percentile of premium through analysis and product mix. • Ensure profitability by implementing new cost optimization initiatives rolled out by the Regional Manager or above. • To ensure delivery of unique consumer value proposition by ensuring enabling framework for the area sales force |
| KRA6 | Ensure that business is done in ethical manner and customer’s and organisation’s objectives are met. | • Ensure that the business activities are carried out as per the compliance & regulatory guidelines laid by the company • Put in place checks and balances to control the quality of business • Take corrective actions as and when any malpractice is found |
| KRA7 | Identify business opportunities through market intelligence & penetrate in underdeveloped market to enhance distribution reach and profitability for the assigned territory. | • Gain market intelligence • Put in place strategies to tap potential market. • Ensure recruitment of advisors in the areas having unexploited potential • Enhance brand awareness in underdeveloped areas for future business |
| KRA8 | Maintain harmony with other departments for smooth functioning & better productivity of the area & organisation. | • Have regular meetings/discussions with training / underwriting/client services/HR/Compliance /Planning & Finance to understand their expectations & share requirements. • Partner with other departments to ensure sales support. • Manage and resolve escalations. |
| KRA9 | Team Development | • Ensure skill enhancement of team members through continuous on the job training. • Coach and Develop team members • Develop a second line of leaders within the sales function. |
3 - 8 years
Graduate
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