Job Title

Private Wealth Manager - AXIS

Function

Sales

Department

AXIS Bank Relationship

Reporting To

(Title)

Circle Head - AXIS

Superior's Superior

(Title)

Zonal Head - AXIS

Unit

Aditya Birla Sun Life Insurance Ltd

Location

PAN India

Business

Aditya Birla Capital

Date

1^stMarch 2024

1) Job Purpose

Axis Bank's affluent business offers a range of financial investment products and provides customised solutions to create and manage the wealth of their niche segment clients, who are NRI, HNW and Ultra HNW individuals, groups and establishments. Hence it requires higher order knowledge of the financial industry and other financial products.

2) Dimensions

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

Dimension

Remarks

1.

Manpower

Individual Contribution role

2.

Branch Spread

Retail

Job Context:

Bancassuranceis the insurance distribution model wherein the bank allows an insurance company to sell its products to the bank's client base. ABSLI tied up with AXIS Bank in March 2024 to sell its insurance products through the Branch Banking.

Open Architecturemodel empowers the customers now to select their Life insurance plans from more than one insurer as per their choice at competitive prices. It also lowers chances of Mis selling, with the intervention of multiple regulators like Reserve Bank of India (RBI) and Insurance Regulatory and Development Authority of India (IRDAI).

4) Principal Accountabilities

Business Targets - To achieve Business Targets on focused Business parameters like premium, SP/branch activisation, product mix and Persistency thereby contributing to the overall Business Growth and profitability.

1. Work closely with AXIS Bank Burgundy Relationship Managers to provide a bouquet of products and investments to their HNI and Ultra HNI client base.
2. Provide sound financial, insurance and wealth-management services to protect client assets and grow the net worth of their respective portfolios.
3. Ensure quality of business and persistence.
4. Ensure to increase SP Activisation and selling of greater NOPs through the Team of FLS for greater distribution of ABSLI products
5. Ensure selling of right Product Mix as defined by the organisation to achieve overall business growth and profits.
6. Identify and implement new business opportunities within the allocated area to enhance penetration
7. Implement activities / programs designed at the organisational level to build great visibility, promote branding, and strengthen our relationship with the bank.
8. Train and appraise the RM's on ABSLI products thereby creating a mind space and easy recall for them.
9. Ensure right method of business acquisition and absolutely 0 % mis selling

Pre and Post-Sales Support and Service: To provide efficient and best in class, competitive products and services to both the Bank partner and customers

1. Provide pre and post-sales support.
2. Regularly review any customer complaints, plug gaps & ensure reduction in complaints
3. Build effective relationship with the bank partner and become their first preferred insurer
4. Create visibility and obtain credibility amongst the RMs, by presenting a strong knowledge base of not only the Life insurance products but also all other financial products and offerings.
5. Plan and achieve business targets in terms of premium, RM activation and market share
6. Establish efficient methods to respond to customer queries and maintain persistency levels.

Partner relationship Management: To build and strengthen the relationship with the partner bank and become their preferred partner

1. To be equipped with Bank's product ranges and their key features along with the ABSLI products
2. Pay regular visits to bank branches and meet bank partners.
3. Design differential strategies to gain mindshare and product mix basis the potential of the branch
4. Help the Bank branches to increase their overall LI pie
5. Liaison with our Regional and Zonal Training Team and ensure periodic product training and branding within the branch for bank staff
6. Design and launch various contests and appreciation platforms for the bank staff to achieve higher engagement

Focus on Business Quality and Profitability- Achieve Business profitability by focusing on renewals, quality of business and managing costs

1. Ensure achievement of profitability and persistency targets for the relationship in the designated zones

1. Manage expenses within allowable expense gap
   1. Plan and manage the renewals and ensure adequate focus is maintained by the sales Team on persistency
   2. Ensure Business Leakage is within allowable limits.

1. Focus and Monitor Product Mix within the Circle, to achieve Channel Targets

5) Job Purpose of Direct Reports

To represent ABSLI at the designated branches and is responsible for sales performance, acquisition of new business and relationship management in the assigned area / branches.

Internal

Frequency

Nature

Retail Branch Banking Team

Training Team

Operations

HR

Daily

As and when required

Daily

Regularly

Discuss potential customer base and provide support wherever required

Discuss training and counselling needs for the Cluster and co-create interventions

Collaborate for policy log in and issuance

Hire, Retain, Counsel Team Members on issues

External

Frequency

Nature

RM's

Branch manager

Cluster Head

Regularly

Regularly

Regularly

Connect & Encourage

Relationship Building, Discuss new products and their features

Collaborate to meet Business Targets, solve any issues, respond to any escalations by the bank

7) Organizational Relationships

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Date