Zonal Sales Manager

3 days ago

Mumbai, India Aditya Birla Group Full time
Job TitleZonal Head – BOM

Function

SalesDepartmentTPD Bank RelationshipReporting To(Title)Relationship Head –BOMSuperior’s Superior(Title)Channel Head – BancaUnitAditya Birla Sun Life Insurance LtdLocationPAN IndiaBusinessAditya Birla CapitalDate1st March 2024

1) Job Purpose

To lead bancassurance partner relationship in the assigned Zone and achieve business objectives through cost efficiencies, meeting revenue targets and enhancing profitability. To strategize and direct efforts into Business development and Zonal Team Engagement thereby widening and strengthening the partnership contributing to overall business growth.2) DimensionsWhat are the areas (in quantitative terms) the job has an impact on?DimensionRemarks1.ManpowerZone –Direct : 4-6Indirect : 250-350RetailProduct MixULIP : As per Channel TargetsProtection : As per Channel targets.PersistencyAs per org norms of new channelMindshareIncremental Mindshare & being preferred partnerSpan of Partner BranchesStarting with 300

3) 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?Job Context:Bancassurance

is the insurance distribution

model

wherein the bank allows an insurance company to sell its products to the bank’s client base. ABSLI tied up with Bank of Maharashtra Bank in March 2023 to sell its insurance products through the Non-Branch Banking Channels and Bharat Banking.Open Architecture

model empowers the customers now to select their Life insurance plans from more than one insurer as per their choice at competitive prices. It also lowers chances of Mis selling, with the intervention of multiple regulators like Reserve Bank of India (RBI) and Insurance Regulatory and Development Authority of India (IRDAI).

4) Principal Accountabilities

AccountabilitySupporting ActionsBusiness Development and Strategy –

To pursue strategic opportunities in cultivating relationship with the bank partner to promote Business growthIdentify business opportunities to achieve business growth and distributionProvide inputs and insights while devising sales strategies, incentive designs, performance matrices, new products, new technologies and systems that promote Channel growth and market presence.Educate bank partner on the various RnR programs to drive desired support from themIdentify enablers which will help to promote business growth, better market penetration and increased mindshare in the assigned geographyDesign customised strategies and plans for different circles, basis their environment and market needs. Share and onboard Circle Relationship Heads in the Team and drive execution.Business Targets –

Design and ensure execution of Sales strategies through bank partner and ABSLI Team members to achieve Zonal targets, attain maximum mindshare and desired persistency levels thereby contributing to the overall Business Growth and profitability.To liaison with senior leaders of the bank partner and build strong business relationshipsTo collaborate and align with various functional Teams internally at ABSLI for seamless business executionEnsure and approve of the various Business activities designed are carried out as per the compliance and regulatory guidelines to promote business growth.To provide speedy resolutions of the high-level escalations by influencing key stakeholders, problem solving and ensuring a quick fix to the same.Strategize and continuously monitor the achievement of Zonal Targets through the team of Cluster Managers and their respective Teams.Communicate and Educate Team on the launch of ABSLI New products, processes and align them to new regulations laid by IRDA and expectations from the partner bank.Review and Analyse new Products in Market and do a comparison studyPeople Management:

To hire, onboard, motivate and inspire the Team Members and create an efficient workforce within the Zone.Strategize, Plan and deploy CH and CMs within allocated budgets to ensure maximum potential utilisationAttract, Recruit and Retain Talent in the market, ensure proper handholding and support is provided to the Team.Review and Monitor Circle Head’s performance and ensure Business targets are met and Team’s attrition is under control.Conduct regular team meetings, share organisation’s goal, and align them to business plan and strategyEnsure to provide constructive and efficient feedback to the Team and boost their morale for salesDevise strategies with the CH to tap the potential in the market and make them participate in the strategic initiatives for the zone.Channel Management –

To optimise the Zonal performance by forecasting the Zonal requirements, preparing annual budget, controlling expenses and taking corrective measuresMonitoring Sales promotion Expenses incurred by the Zone and ensure that they are within the budget.Conduct periodic audits and take corrective actions for any malpractice found.Support Organisation’s vision and mission, by driving desired behaviours of the Team within the zoneOversee judicious expenditure on sales promotion activitiesWork to effectively use R&R programs to drive desired behavioursFocus on Business Quality and Profitability –

Achieve Business profitability by focusing on renewals, quality of business and managing costsEnsure achievement of profitability and persistency targets for the relationship in the designated zonesManage expenses within allowable expense gapPlan and manage the renewals and ensure adequate focus is maintained by the sales Team on persistencyEnsure Business Leakage is within allowable limits.Focus and Monitor Product Mix within the Zone, to achieve Channel Targets

5) Job Purpose of Direct Reports

To build and maintain strong progressive partnership with the Bank in the assigned Zone, by supporting and contributing to bank partner’s strategy, adhering to the bank’s norms and agreed guidelines, achieving best mindshare of the bank and being the preferred Partner, thereby achieving ABSLI’s business targets and promoting business growth.

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