Regional Business Head - Hyderabad

Designation: Senior Manager

Location: India Andhra Pradesh Jagdish Market Abids,Hyderabad

Organization: Financial Services

Job Description:

1) Job Purpose

To plan and drive sales through a team of BDMs for procuring retirement funds business from Corporate clients including MNCs and Indian companies within segments of his/her specific region in the city. The role is responsible for increasing the new client acquisitions in the Key Accounts and SME space, thereby increasing the profitability of the group business. The role involves travel to locations within the respective regions for business development opportunities not just for group fund business, but to ensure such relevant opportunities are handed over to the other relevant channels within BSLI and ABFSG. The role is also responsible for timely MIS reporting, sales forecasting, investment advisory and business development activity in the micro markets.

2) Dimensions

What are the areas (in quantitative terms) the job has an impact on?

Dimension

Remarks

1.

Manpower (Nos.)

Direct: 9

2.

Fund business sourced

25 cr pa

Acquisition to number of policies and account management for existing relationships.

3.

Asset Under Management

100 cr.

Gratuity ,superannuation

4.

Existing Customer Base

75 fund-based policies

Gratuity, superannuation and leave encashment

3) Job Context & Major Challenges

(What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone?

Key Challenges for the role –

Huge untapped potential but smaller ticket size with cut-throat competition.

Client segment does not prefer diversifying its corpus between more than one insurer hence it becomes it is huge challenge for the sales team to change the mindset of prospective clients towards giving their fund management mandate

Limited manpower covering a vast geographical area

Employee Benefit and retirement funding still not high on priority for prospects since business growth is more important hence parking fund separately delays time for decision making.

Building the team mindset towards using consultative selling technique for procuring business procurement in this segment

As per government data there are 2.3 crores MSME across the country hence the multiple distribution channel is a must and necessity.

Resource location from a P&L perspective so as to balance opportunities vs. revenues

Dependency on financial markets and sentiments play important role.

4) Principal Accountabilities

Accountability

Supporting Actions

Ensure achievement of business goals for the vertical

Strategies and plan with team of BDMs to procure business to boost the top-line as per targets set and ensure increase in customer base

Ensure the team carries out identification & mapping of right opportunities, build relationship with key influencers and work on developing new markets.

Key account management for existing relationship to ensure continuous flow of monies

Empower the team to identify cross sell opportunities for business

Ensure healthy business mix by getting customer under standard term and conditions

Define and ensure implementation of an effective sales strategy for his/her respective segment and geography

Track and mentor the team to maintain healthy business records, client information to build a long drawn sustainable client and prospect information base to be useful for sustainable cross-sell opportunities

Relationship building to ensure the team identifies and builds relationships with key influencers & decision makers, influencers etc

Ensure adherence by the team to sales management processes for business procurement by guiding the team in identifying priorities to achieve set goals

Ensure appropriate use of Sales Management Sytem and periodic review with team

Define and ensure implementation of effective relationship management and market development initiatives for his/her respective segment and geography

Ensure building of a business and client pipeline for achievement short term and long term goals.

Define and implement initiatives for creation and expanding the market to various customer segments and clusters.

Ensure initiatives are taken to and improve the existing client relationship by building an effective communication platform.

Ensure business processes defined are followed by the team with regular reviews with self and superiors

Lay down clear sales stage development plan for every customer with the respective sales resource by ensuring every minute details being adhered to. This helps in sales stage progression right from pipeline, relating, discovery, advocating, supporting to closure with consultation and regular reviews with NSM

Each of the above stages requires fulfillment of a set of pre decided requirements before the prospect can be categorized into sales progression. The RBM jointly categorizes this with inputs from the NSM

Timely identification of any issues that may need to be addressed to ensure mandate from a customer

Team Management and development

Continuous team mentoring and development to have a self motivated team there by creating a healthy human capital base

Identify training and development needs of the team through continuous interactions to ensure the team has overall development and on-job training requirements

Provide or arrange for segmented learning interventions for each level of team

Conduct periodic reviews and feedback

5) Job Purpose of Direct Reports

Business Development Manager – Key & SME: To drive sales for procuring retirement funds business from corporates including MNC’s, Indian companies, segments of his/her specific region in the city. The role is the acquisitions of new clients in the Key Accounts and SME space and maintaining current customer base, thereby increasing the profitability of the group business. The role also involves lead generation activity with direct and indirect channels like DSF, ABFSG, etc.