Job Purpose
To contribute to the business growth of the wealth management division in the designated area by efficient business planning, sales monitoring, revenue generation, team creation & subsequent management & client relationship management.
Job Context & Major Challenges
Job Context Job Challenges
The Wealth management division is engaged in providing strong research backed financial services advisory to the HNI clients and managing their ongoing financial advisory and Portfolio Management needs. The product portfolio includes Mutual funds, Life insurance, Bonds, Structured products, Real estate advisory, Company fixed deposits & Equity Commodity Broking services etc.
The Regional Head is responsible for the overall performance of their team in wealth management products in a particular area by managing their sales teams, business budgets, client acquisitions & customer satisfaction initiatives. The main challenges faced by this profile include keeping updated with the latest market scenario and ensuring the same for the local team, getting market intelligence of competitor moves and managing growth amidst stiff competition & meeting high customer expectations. The critical skill sets that this profile requires are an in-depth knowledge of all wealth management products & services, strong communication, proactiveness and high customer & target orientation.
The key job is to provide continous & superior guidance to the team members to focus on (1) Client acquisition (2) Client retention & deepening (3) positioning the brand effectively to attract talent.
Key Result Areas
KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)
KRA1 To meet the budgeted targets and monitor them To achieve defined sales targets of assigned portfolios and analyze performance periodically
- To constantly focus on fee generating service offerings to meet the projected fee income
KRA2 To review area level MIS To prepare periodic MIS of region-wise, client-wise & product-wise sales
- To report sales vs. budget variations & review trends
KRA3 To work towards skill enhancement and team building To ensure ongoing self development and attend trainings & certifications that enhance the skills in the wealth management services
- To enable retention through planned recruitment, career progression & performance linked incentives
KRA4 To analyze client portfolio & product positioning To analyze the customer profiles & the financial analysis / investment advice provided by various RMs and provide feedback
- To effectively recommend that are relevant to clients.
KRA5 To monitor service standards and metrics of client satisfaction To keep abreast with the research generated internally and ensure that they are shared with the HNIs; also pass feedback of customer requirements to the research team
- To ensure RMs display highest levels of client servicing standards
- To monitor the TATs & customer servicing metrics of client servicing teams & highlight necessary actions if any
