Job Purpose
- To engage with, focus ND's from Tier I ND's, central teams in order to achieve customers, AUM, Market Share and profit objectives of the organization. Tier I ND's are ABMM, N.J.India Invest ltd, Bajaj Capital, Karvy stock broking , ICICI Securities & Prudent corporate advisory
- To drive sales and work with channel manger ND tier I to increase customer base, net sales & market share.
- To support and service central & sales team
- To support the Channel Manger ND tier I in due diligences and all other necessary process to ensure presences in all tier I ND's.
- To work with these distributors to, get mutual fund, privileged account service, real estate fund and other product of Aditya Birla Financial Services Group (ABFSG) empanelled.
- To help the channel manager bank tier I in monitoring and driving of activity for tier I ND's, in addition to above mentioned relationship.
Job Context & Major Challenges
Job Context: Organisation Context –
Birla Sunlife Asset Management Company is one of the early entrants into the market with a 15 year plus history of Asset Management in India. It is a joint venture between the Aditya Birla Group and the Sun Life Financial Services Inc. of Canada.
Job Context
Business Development team plays a vital role between the sales team and channel partner to facilitate sales in a smooth and efficient manner. Within the existing set up ND's contribute a significant portion in terms of sales and the key ND's amount to a significant share within this pie. The national distributors are very well entrenched in mutual fund distribution and have either large branch network with huge customer base or have access to HNI customers or have partner driven network or a business which is combined of all the set ups mentioned. Given the size and the depth of these channels a dedicated & focused approach can help us in increase market share with these focus Tier I ND partners. This role requires through understanding of products and markets. Most important this role requires
- Someone who is able to understand these large setups and ensure we are connected at all level.
- Understand which markets/verticals are important & who will drive sales.
- Understanding the approval process and ensure we are present on the platform.
- A good understanding of MIS & timely passing of these information to channel manger ND's tier I & in that specific channel to get the desired share.
- Regular product communication & relevant information to the channel to ensure top of mind for BSLAMC.
- Regular planning of events & other activities to ensure we get share
Key challenges –
- To get approval & maintain the products on the recommendation list of the tier I ND's, in addition to focus ND's.
- Need for customization & a focused approach to work means that we need to have speed & for the same internal alignment with external turnaround time is extremely important and a key challenge.
- Ensure a timely update every month or at any contingency point becomes even more critical and challenging in order to ensure that your funds remain a part of key recommendations
- The challenge is to be proactive and present before anyone else to identify your distributor's product requirement with respect to changing market trends &client's needs. Also the bigger challenge is to execute the idea in the justified TAT for the distributor and that involves driving the same internally across departments.
Key Result Areas
KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)
KRA1 To engage with central teams of focus ND's and manage relationship along with channel manager tier I ND's 1. Ensuring timely approvals of products across key relationships and thus facilitating sales Pan India.
- Arranging con call with fund managers with the product teams of these ND's for update on portfolio and investment strategy .
- Ensuring new tie-ups with proper agreements and due diligences complied with as need by the channel partners.
- Driving specific initiatives to ensure growth in net sales.
- Disseminating timely information to the product teams of the various channel partners and getting approvals.
KRA2 To maximize market share with focus ND's. 1. Understanding the structure of the ND's and ensuring that the alignment of the same is done internally for ensuring appropriate coverage and sales.
- Driving specific contest and special initiatives to boost up sales from the central teams having a top down approach.
- Strengthening the key relationships for getting the desired market share by providing useful information at central levels.
KRA3 To monitor tie up and cost benefit 1. Designing contest at minimal cost and ensuring maximum output for select schemes as decided.
- By putting proper systems in place and Regular Monitoring helps in reducing the cost.
KRA4 To maintain product communication & help in Training & Development of distribution channel 1. Basic Needs Like AMFI training
- Product presentations & Literatures.
- Training specific to equity, debt market and other training needs that are identified with partner from time to time..
KRA5 To ensure legal documentation and Due diligence are in place 1. Timely clearance of online and offline agreements
- Ensure proper co-ordination with various functions to facilitate due diligence
KRA6 To plan & monitor activities & sales centrally 1. Work with channel manager ND's tier I & focus ND's central teams to plan on joint activities to drive sales
- Put in place a process by which the same is monitored & corrective action taken real time
KRA7 To maintain competitive intelligence 1. To track information on sales & emerging trend
- To track distributor activity & plan to align our self's to them
- To track pricing & new product launches
