Job Purpose
Designing and implementation of sales strategy for business development through identified channel partners across product classes in order to enhance desired market share and profitable AUM from existing Sales Channels, empanelling new IFAs,ND and Banks.
Job Context & Major Challenges
Job Context
The IFA channel is primarily seen as retail part of the business. Each individual RM has a different business objective and one of the major challenges is to align their goals with the overall objective of the organisation in order to add to long-term profitability of the organisation.
Job Challenges
- Major challenge is to align the goals of our channel partners with the overall objective of the organisation.
- Increasing & sustaining market share in a highly competitive environment wherein we have to ensure both profitable and respectable growth.
- Motivating & coaching the team in order to ensure maximum productivity and retaining them in highly competitive environment.
- Identification of active advisors across financial sector and persuade them to add mutual funds to their kitty as a fresh line of income generation and as a tool for complete financial planning for their clients.
Key Result Areas
KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)
KRA1 To increase and sustain the overall Market share Ensure distributor engagement through regular workshops on products and soft skills.
Focus on expanding existing POS by organising AMFI Exams and refresher trainings
Enhance scope of contact management to in-active IFAs in order to get their participation in our business.
Share regular feedbacks with the management to ensure competitive pricing to provide a level playing field.
Implement co-branding exercises with identified channel partners, which are mutually beneficial.
Develop innovative strategies like lead generation, focussed group discussions with the end investors
KRA2 Ensure highest level of servicing to all the channel partners Database management & updation to ensure effective communication with the channel partner
Providing detailed MIS to the channel partners to support them in maintaining appropriate asset allocation and product mix for their clients.
Define a TAT for all distributor queries and requirements for prompt resolution.
Support distributors by arranging proactive discussion sessions with the fund managers to share our organisations view.
KRA3 Ensure business expansion in line with the overall organisation goal for enhancing market share and distributor participation Ensure reasonable no. of road shows
Ensure promotional activities like painting competitions etc along with various distributors.
Support distributors through various lead generation programmes to help them expand their client base.
Organize basics and advance level trainings to the categorised IFAs in order to help them source business from their respective investor classes.
KRA4 Ensure adequate sales reports and creation of internal MIS. Sales Report for individual relationship manager productivity.
Sales Report for specific IFA productivity.
Sales Report for Market Share.
Sales report for transactions share
KRA5 Provide team leadership for target achievement, talent retention and satisfaction Set goals and periodically review performance.
Identify training needs and equip with adequate developmental programs.
Identify future careers for exceptional performers.
