AVP Business Acquisitions

4 days ago

Mumbai, Maharashtra, India Mancraft Consulting Full time ₹ 12,00,000 - ₹ 24,00,000 per year


Job Description:

JOB SUMMARY: Responsible for Acquisition of New accounts from Banks - mainly in PSU, Private, Payments, SFBs, RRBs, Coops etc.

Business Development:

  • Building relationships with target list of banks in the Zone
  • Pro-actively engage with target organizations to identify partnership opportunities
  • Lead engagement activity for opportunities in the open architecture framework with competition Corporate Agents
  • Market scanning, competition tracking, understanding of regulatory landscape
  • Designing acquisition pitches, responding to Bank RFP and RFI documents, commercial structuring, compensation design, legal agreements etc

KEY RESPONSIBILITIES:

  • Business Development- Mapping, prospecting and acquisition
  • Responding to RFP/RFI/Tender documents independently
  • Creating value proposition for prospects and designing pitch presentations, commercial proposals
  • Publishing timely reports on prospect status
  • Build visibility for the compnay in Rural space

Other Key Activities

  • Work closely with the Product and Pricing team in designing an exclusive product for the Rural Partners
  • Coordinating with internal teams for Partner on-boarding
  • Design SLA with Business Partners and ensure adherence for new Accounts
  • Adherence to internal policies and procedures

Competition Mapping

  • Tracking competition strategies, understanding competition sales & acquisition strategies - type of sales models, compensation structure, support structure etc. in rural space
  • Publishing periodic reports on the channel, Suggest improvements, if any
  • Collate competition information on their fulfillment strategies for key accounts and help create the company counter strategies
  • Ensure Compliance with IRDAI guidelines on new account acquisitions

MINIMUM SPECIFIC EXPERIENCE:

  • MBA with 5-8  years of relevant  business  development experience  in  Life  insurance/General  insurance/Health insurance industry or into BFSI
  • Strong understanding of Acquisitions and excellent market network in this space
  • Experience in designing & selling complex solutions to target group of entities
  • Good understanding of financial tools / complexities and acquisition process
  • Analytical skills & process orientation
  • Strong presentation & communication skills
  • Strong relationship, networking & negotiation skills
  • Ability to think creatively
  • Project management & execution skills
  • Desirable - knowledge of IRDA regulations
  • Acquisition Process & Strategies
  • Business Development & Lead Engagement

KEY RELATIONSHIPS (INTERNAL/EXTERNAL)

  • Internal - Stakeholders, Bancassurance Team, Finance Team & Fulfillment teams
  • Target prospects & Industry Participants

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