HDFC Life Insurance - Associate Vice President - Key Account Management

Job Title: Associate Vice President KAM (Key Account Management)

CTC: 20 to 30 Lakhs

Female candidates preferred

About the Department:

- Banca is a department managing multiple bank partners.

- The department contributes to organizational objective of having a diversified distribution making a significant contribution to the topline & bottom line of the organization.

Purpose of the Job:

- To achieve the organizational goal for the assigned channel relationship and meeting budgetary objectives on revenue, cost and profitability through retail vertical.

- Ensure healthy YOY business growth & secure market share leadership in LI business across retail verticals.

- Effective stakeholder expectation management - Internal / Partner / Customer.

- Ensuring Quality parameters in line with Management Objective.

- Build the partnership through identifying new areas of business and scaling the existing lines of business.

- Overall, the role will be responsible for channel relationship management, influencing & ensuring delivery of annual target.

Duties & Responsibilities:

Main duties, tasks and responsibilities of the role:

Business Planning & Strategy:

- Formulating the business plan for the channel meeting the meeting the organizational objectives.

- Annual / quarterly / monthly with Product Heads

- Planning to consider macro factors and past trend analysis

- Periodic review and course correction of sales plans to incorporate organizational / regulatory changes if any

- Forecasting channels target achievement and input management for achievement of business objectives

- Competition Tracking

- Best Practices

- Provide inputs to channel partner on improvement of productivity and development

- Resource planning of the region to the management as per the business plans and objectives

Business Delivery:

- Achieve / Over achieve the assigned top-line target

- Ensure target achievement on topline, profitability & business quality parameters like riders, ATS etc

- Achieve targets on key business levers like Productivity & Activation (internal, partner)

- Continuous interaction with stake holders to facilitate business

- Calendarise sales and marketing activities.

Business Development:

- Ensuring channel specific training requirement.

- Robust reviews and feedback sessions with channel leadership & Product teams for continuous business development

- Study competitor activities & formulate strategies to achieve maximum market share

- Evaluate and monitor the systems / process enablers for business and suggest improvements for operational efficiencies

- Designing and launch of reward & recognition programs (channel partner & internal) to increase sales and build distribution

Channel Partner Management:

- Interact with the channels partners at agreed levels & frequency to manage expectations, have a committed and a partnership based relationship

- Self & sales team SMP adherence to ensure appropriate channel engagement

- Enable smooth MIS & other information flow to channel on agreed key business parameters

- Drive business to ensure optimum potential utilization of the relationship/vertical

- Maintain appropriate channel partner satisfaction on support provided by our team to ensure zero escalations

- Execution of the various events / promotional tours for partner

- Partner commission management

People Management:

- Develop & guide sales team to avoid channel escalations

- Design training modules in collaboration with L&D to ensure necessary knowledge to aid achievement on various business parameters

- Calendarise training for the sales team to sell better quality & higher quantity

- Staff engagement activities to ensure low attrition

- Ensure intra & inter departmental collaboration to close issues related to proposal processing

Risk Management:

- Adhere to statutory and regulatory norms

- Ensure defined procedures / processes are followed to maintain compliant sales

- Ensure acceptable Turn-Around -Times (TAT) for channel grievance and customer related issues

Process & Quality Management:

- Responsible for ensuring compliance on various business fulfillment models in line with regulatory norms

- Ensuring persistency for the mapped channels as per management directive

- Ensuring implementation of product strategy

- Regular review of various processes & undertaking new projects for improving quality, business processes etc.

Essential Knowledge:

- Insurance product knowledge, basics of financial planning

Work Related Skills:

- Business Perspective / Strategic Thinking

- Collaboration

- Interpersonal Skills

- Assertiveness

- Problem Solving and Analytical Skills

- Effective verbal and written Communication and presentation Skills

- Flexible & adaptable

Professional Experience

- 8/10+ years of experience in sales / account management, with at least 2 years experience in life Insurance (preferably bancassurance)

Education / Professional Qualifications / Certifications:

- Graduate, Post Graduation

Geography Related:

- Willingness to travel across geographies

Additional Criteria:

- Ability to consistently deliver quality work with drive and energy on tight deadlines

- Needs to be mature to handle queries- stakeholder management is a critical part of the role