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DEPUTY AREA MANAGER - IMF CHANNEL

Amrit Consultancy

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0-2 Years
a month ago
33 Viewed
1 Applied

Job Description

About IMF Channel

IRDA Regulation on IMF was released on Jan 2015, where companies which are LLP / Pvt limited / cooperative societies

were allowed to distribute financial products. IMFs are allowed to deals in Insurance of 6 companies (2LI , 2GI , 2 HI),

mutual funds, banking products, post etc. this opportunity to attract established financial distributors

from the market to engage and distribute life products PEARL ACQUISITION. A dedicated team of 50 CDMs were

recruited in two phases and trained to hire & farm these relationships. Currently we have 95 licensed IMFs on board and

expected to touch 150 which are work in progress. The pool of IMF s primarily comprises of top Agents in Insurance,

Wealth Managers, Loan DSA, CA, Ex - employees from financial services with an existing customer base customer base.

Present IMF carries avg. 2500 customers and big turnover book. As a later part of Pearl acquisition strategy, Insurance

Managers is a career option provided to establish financial distributors who are not able to meet the requirements of

forming an IMF. This has also proven to be an exciting opportunity. Insurance Manager is part time employee model

which provides a platform to the pearl to associate with MLI and improve their earnings , flexible working hours and

better choices to their customers. IM will be different from an ADM/APC as he will not be recruiting and mentoring

Agents and will only source business by penetrating into his existing client base. Avg book size with them is also 750

customers.

Job Description

  • You will play a key role in driving strategic initiatives and managing operations within your assigned area
  • You will be responsible for identifying new growth opportunities, developing business plans, and overseeing the implementation of initiatives to achieve organizational objectives
  • This position requires strong leadership skills, business acumen, and the ability to drive innovation and change

Responsibilities

  • Strategic planning: Develop and implement strategic plans to drive growth and expansion in the assigned area
  • Analyze market trends, competitive landscape, and customer needs to identify new business opportunities and potential growth areas
  • Collaborate with senior management to define strategic priorities and align initiatives with the overall organizational strategy
  • New growth initiatives: Identify, evaluate, and prioritize new growth initiatives, such as new products, markets, partnerships, or acquisitions
  • Conduct market research, feasibility studies, and financial analysis to assess the viability and potential impact of new initiatives
  • Develop business cases, including financial projections, risk assessments, and implementation plans
  • Business development: Lead business development efforts to secure new IMF projects, contracts, and partnerships within the assigned area
  • Build and maintain relationships with key stakeholders, including government agencies, international organizations, and private sector entities
  • Represent the organization in meetings, conferences, and networking events to promote the organization's services and capabilities
  • Project management: Oversee the implementation of IMF projects and initiatives within the assigned area
  • Develop project plans, set milestones, and allocate resources to ensure timely and successful project execution
  • Monitor project progress, identify and mitigate risks, and resolve issues to ensure project deliverables are achieved within budget and quality standards
  • Performance monitoring and reporting: Establish performance metrics and targets for the assigned area
  • Monitor and analyze key performance indicators (KPIs) to track the progress of initiatives and projects
  • Prepare regular reports and presentations for senior management, highlighting achievements, challenges, and recommendations for improvement
  • Stakeholder engagement: Collaborate with internal and external stakeholders to foster effective communication, collaboration, and alignment of objectives
  • Engage with government officials, regulatory bodies, and industry associations to stay informed of policy changes, industry trends, and potential opportunities or risks

Qualifications

  • Bachelor's degree in Business Administration, Economics, Finance, or a related field
  • A master's degree or MBA is preferred
  • Proven experience in strategic planning, business development, or project management, preferably in the financial sector or international organizations
  • Strong knowledge of financial markets, IMF operations, and economic trends
  • Demonstrated experience in driving new growth initiatives, including market analysis, business case development, and project implementation
  • Excellent leadership and management skills, with the ability to inspire and lead a team
  • Strong analytical and problem-solving abilities, with the capacity to make data-driven decisions
  • Effective communication and presentation skills, with the ability to influence and engage stakeholders at all levels
  • Ability to work collaboratively and build relationships with diverse stakeholders
  • Proficiency in financial analysis, including financial modeling and forecasting
  • Ability to travel domestically and internationally as required

Skills: insurance,life insurance,agency coordination,agency development,insurance agency management,insurance marketing,distribution agreements,distribution management,distributors,sales & distribution,sales acquisition,agent recruitment,agent development,signing agent,agency leadership,agency selection,agency relationship management,insurance background,high net worth insurance,whole life insurance,sales channel development,sap sales & distribution,business development,permanent life insurance,financial advisory,financial background,financial product development,management
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