Senior Role - Wealth Operations - NBFC

The purpose of this job is to manage accurate and timely processing of operational activities supporting Wealth Management. This involves managing client enrolment into the system and regular communication of transactions portfolio to the client, revenue calculation and reporting, and revenue collection. This role includes conducting reconciliation of transactions and revenue projected by the team with own portfolio and that of the respective authority (also called product portfolio management services) and timely and accurately compute RM incentives. The individual will also share MIS/ Reports with the Head ops-wealth management and distributor management and call out discrepancies in reporting in a proactive manner.

Principal Accountabilities:

1) Strategy and Budgeting for Wealth Operations:

- Define strategic roadmap for Wealth Operations outlining operational activities, process improvements, system updates and activities for efficiency enhancement, etc.

- Carry out a budgeting exercise with respect to operations manpower, infrastructure and systems and build in measures for effective cost management

- Set and define processes, and standards for level of service and delivery expected from the team

2) DSA onboarding/payout and incentive:

- Channel partner life cycle management

- Implementation of common IT system for processing all types of CP request like onboarding, payout and incentives

- Process mapping across all LOB's (Wealth, Unsecured, Mortgage, Digital, CMG &CFG)

3) Operations Management:

- Build a robust tracking mechanism to monitor operational performance parameters to analyze productivity. Provide monthly analysis of movement of key parameters by identifying the key KPI

- Mentoring team members driving towards achieving one aim/goal thought and Acquiring new skills/Training leading towards team enhancement

- With the objective of creating standardise/formal and logical operations environment, Review existing and Build new processes/policies

- Develop/Implement technology system/tools driving towards automating Operations aiming towards making it accurate, faster & easier

- Act as point of escalation for discrepancies identified

- Define and document detailed process notes / operation guidelines and implement quality initiatives. Institute risk and controls measures to enable smooth and compliant business operations

4) Revenue Tracking and Management:

- Oversee timely and accurate reporting on all aspects of revenue management

- Analysis of the cost trends

- Logical Distribution/utilization of the budget sanctioned within the departments

- Brokerage payout reports

- RM incentive payout monitoring and trend analysis

5) Audit and Risk Management:

- Get regular Internal /IFCR Audits done for critical processes and help in quarterly statutory audits pertaining to revenue provisions.

- Ensure satisfactory Audit Reports and implement recommendations as per agreed timelines.

- Identify process and revenue risk, track regulatory changes, automate processes and build systems to mitigate risk

6) Operations Reporting and Analytics:

- Oversee reconciliation activities and ensure alignment in data reported across various stakeholder groups

- Oversee timely and accurate generation of reconciliation MIS and ensure the same is shared with business and product manufacturers

- Oversee timely circulation of revenue data& insights, if any,to relevant internal stakeholders within Finance and Business

- Oversee end - to - end sales incentive computation activity for internal Relationship Managers and external Independent Financial Advisors

- Ensure all regulatory reporting is completed on time

- Ensure TAT for onboarding/payout and incentive for all business lines are met accurately

- Comprehensive CP dashboard and reporting with revenue and comparison report, ageing report, reminders, visibility in each type of brokerage at the partner and aggregated level

7) Stakeholder Management:

- Manage external stakeholders including product manufacturers to enable alignment with system requirements of the company

- Manage relationships with internal stakeholders from the business, functional across LOB's to ensure smooth functioning of operations

8) Team Management:

- Attract and retain high-quality talent for Wealth Operations ensuring standards of service and delivery

- Set performance standards for the team and ensure critical roles have successors

- Coach and provide technical guidance to team members on an ongoing basis

- Ensure regular development activities are undertaken by team members to enhance critical skill sets required on the job