Business Development Manager

National Business Development Manager

1. Business planning

• Work closely with the product and underwriting team to create unique offerings as per the current market trends to suit the channel partner's requirements and requisite approvals for the same from the Bank Head Office
• Work with the Brand team to create collateral designs for campaigns and products
• Understand what competitors are doing, liaison with the third party product distribution department to formulate business planning for increasing penetration at the Bank of India branches
• Analyze data related to customer mix, segmentation, identify opportunities and then propose products accordingly
• Study the PSU Banassurance competitive landscape, customer segmentation, loss ratios and implement the correct sales strategies, product mix, processing and backend support to increase sales from the partnership

2. Driving topline

• Help drive the P&L for Bank of India Bancassurance business to deliver topline (gross premium) targets on a monthly basis while keeping a healthy claims ratios and achieving profitability by converting loan book business into policies
• Prepare and recommend campaign designs, proposals and plans for bank to National Head PSU Banks to maximize sales from existing and new branches.
• Helping the BAGIC Zonal teams drive topline in the geographies by giving inputs and insights on sales
• Maintain Productivity of each resource assign to relationship
• Recommend manpower requisitioning and positioning as per the requirement

3. Relationship Management

• Maintaining and growing relationship with the key stakeholders – senior officials at the partner head office, zonal and regional heads of the Bank of India branches
• Work closely with the finance team for campaign budget approvals
• Manage and address any escalations coming from the partner head office, zonal or regional office
• Specify targets for team as per the channel partner's potential and capability and provide the requisite training and support in achieving the same
• Identify new products requirements/ customization required for bundling and create a new product as well as ensure smooth processing of all aspects leading up to the product's market roll-out
• Coordinate with internal teams to develop, implement, integrate and ensure smooth processing of all new and existing products

4. Functional Review

• Quarterly business review with Country Head Bancassurance and CTO – Institutional Sales
• Monthly reviews with the team to monitor achievement of individual targets, discuss business issues and design action plans to course correct, if required
• Conduct periodic reviews with the GM of the channel partner and BAGIC National Head PSU Banks/Country Head/CDO to drive business numbers, identify opportunities and address any escalations/concerns
• Periodic discussions with the product development and other internal teams to determine product performance and enhancements
• Review on the various strategy periodically as and when required and changes to be made as per the external factors of bank and competitors behaviour

5. Team Management

• Participate in recruitment process to identify right talent for various positions within the team
• Support team members in delivering their responsibilities in business as usual by keeping them motivated, resolving their concerns/ challenges, if any and maintaining a positive team spirit
• Build and enhance capabilities within the team by providing required trainings on new products as well as building process efficiencies

Industry Understanding & Competitive Awareness; Banking Product Knowledge; Sales Execution; Customer Relations; Stakeholder Management

Graduation

None