Relationship Manager

About the Financial Services Industry

India is today one of the most vibrant global economies on the back of robust banking and insurance sectors. It also is expected to be the fourth largest private wealth market globally by 2028. With an increased focus on wealth management and protection of assets, ABC is uniquely posed to reach the Indian population with a wide variety of trusted offerings under a single umbrella. The benefits of achieving a level of granularity in the business book and the opportunity to cater to these segments is immense and is increasing manifold year on year. The challenge here therefore remains as to how we capture a larger share of the opportunity by developing specific solutions to cater each segment of the business. Also by creating an inexpensive and standardized solution to increase the reach into the pockets of individuals across the country to harness on their captive business and explore new opportunities with them.

With a large customer base within ABC, there is an opportunity to cross-sell and upsell our products at an individual level. Increasingly Indian customers have started considering insurance and investment partners as extensions of wealth advisers. In this scenario it becomes extremely important to understand their psyche and then provide tailored solutions with wellness benefits which would help them meet their end objectives and bring in profitable revenue source for the company.

Select Business Context: Select Channel leads the distribution of ABC products through its network of Sales Partners called Select Distributors.

Job Context:

The incumbent is expected to acquire business partners, provide them with necessary trainings to help them understand financial products / online platform and then drive sales volume through them. An important goal for the RM is also to ensure the retention of the existing business partner. All these goals can only be achieved by significant amount of engagement with the BP to ensure that the latter perfects the art of Relationship Management with his / her clients and works with a focus on all aspects of a clients needs – liability as well as asset products. Every customer, during his / her lifecycle, has a need for multiple products. Making sure that the BP is well aware on scoping such needs as well as offering the same through us is the need of this business.

Key Result Areas: Write the key results expected from the job and the supporting actions for each of these key result areas (For a majority of jobs typically there could be 4- 7 key result areas)- Maximum 10 KRAs can be updated

Key Result Areas (Max 1325 Characters)

Supporting Actions (Max 1325 Characters)

Business Quadrant

1. To consistently acquire new business partners

2. To facilitate channel development

3. To achieve targeted sales volume

4. To identify and empanel business partners with relevant customer base

5. To manage Business partner activation & ensure adequate flow of leads to meet business targets.
6. To consistently organize product / sales trainings and knowledge sessions for business partners by involving research / product teams and other relevant teams.
7. To monitor the quality of business sourced through BPs and to ensure penetration of all products as well as help evaluate commercial viability
8. Devise campaigns to incentivize/rewards with proper approvals form stakeholders
9. To achieve the targets set by business head in terms of number of active partners acquired & retained, amounts mobilized, # of products sold, persistency of SIP etc.

Process Quadrant

1. Adherence to SOPs

2. Operations processes

3. Sales & performance Reports

4. To ensure effective risk management & policy adherence

5. Ensuring that all aspects of the SOP for the BPG team is managed in entirety.

6. Ensuring the offline and online processes are adhered to, to ensure that client mapping to RMs, etc are always protected.
7. Ensuring that the MIS are updated basis decided frequencies and shared with the Business Team
8. To help the risk team by ensuring process adherence like documentation, KYC & client profiling.
9. To ensure adherence of all regulatory compliances & critical policies of the organization

Customer Quadrant - Customer satisfaction management & measurement

• Focus on ensuring that Mission Happiness is executed across relevant client sets. Ensuring focus on complaints being recorded adequately & resolved within pre agreed TATs including escalation matrices being developed and adhered to.

Learning Quadrant

• Focusing on self-development to ensure relevance in business. Ensuring that all regulatory tests and standards including but not only the relevant certifications are adhered to, at all times.