TL-DCM-CO Policy Issuance-Thane

Aditya Birla Group

India

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Posted 12 days ago
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Job Description

Job Purpose

The role is responsible for vendor management related to Data Capture and manage the issuance process changes at Pending policy stage.
The role is also responsible for Electronic Clearing Services (ECS). Requirement management, Super Value Vertical (14 branches) - Banca /Citibank and Deutsche Bank Issuance processes within New Business at each activity and process level for Individual, Pension and Health life lines of business and be the primary supervisory reference point for operational matters of these processes across vendors and internal customers

Job Context & Major Challenges

Job Context: The role is responsible for vendor management related to Data Capture and manage the issuance process changes at Pending policy stage.

The role is also responsible for Electronic Clearing Services (ECS). Requirement management, Super Value Vertical (14 branches) - Banca /Citibank and Deutsche Bank Issuance processes within New Business at each activity and process level for Individual, Pension and Health life lines of business and be the primary supervisory reference point for operational matters of these processes across vendors and internal customers

Job Challenges: . Ensure optimum capacity building, monitoring resource management and allocation to deliver in an uncertain and unpredictable sales projections environment.

. Ensure 100% accuracy in data capture and issuance of policies despite sub-optimal IT systems thereby maximizing issuance without which the companies top line shall be impacted.

. Ensure pick up of applications from Branches for processing at the vendor's end at various

. geographical locations where the courier services are not available. To motivate the work force to provide the desired output at extended batch and continuous man hours.

. Ensure system readiness by employing technical compatibility of associated components. Liaison with internal departments, and vendors to ensure seamless product roll out and roll back in very short span of time.

. Ensuring the vendor deliverables are as per agreement & influencing them to seamless delivery as per business requirements in terms of volumes and holiday working.

. Managing sales expectations with regards to waivers or exceptions and maximising issuance.To analyse and forecast resource requirement at the unit level and with vendors to ensure smooth workflow across various operations to cope with changes in Business

. With the frequent change in the regulatory environment role is having a challenge to implement changes in Business rule at the vendor's end within a short time to meet the changed business/process requirements.

Key Result Areas

	KRA (Accountabilities) (Max 1325 Characters)	Supporting Actions (Max 1325 Characters)
KRA1	Manage execution of standardized processes and measurement metrics across Data Capture, Requirement management, Issuance operations in New Business aimed at achieving client and Sales force satisfaction within prescribed standards.	1. Design and document processes pertaining to Data capture and Issuance and Requirements management within NB. 2. Ensure implementation of standard processes comprising of data capture and issuance and requirements as per set targets. 3. Identify, Define and periodically review service standards in terms of quality, speed, costs, regulatory compliance and operational risks to achieve the aforementioned objectives. 4. Scrutinize the processes to eliminate inefficiency and waste, thus controlling cost. 5. Key accountability for recommending the changes in the application form and signing off the same to be filed with IRDA. Also responsible for laying down new guidelines during product roll out to be implemented while filling the application form
KRA10	Participate and contribute in the departmental budgeting process and actively monitoring that the budget limits are always adhered to	1. Participate in preparation of New Business budget, co-ordination with planning department for approval of the same and monthly reconciliation of actual cost v/s budget. 2. Use performance statistics and infrastructure usage for planning future business plans. 3. Identify and plan resource requirements and availability of people, space, systems and budgets. 4. To participate and supervise Year end capacity building activity, this includes Planning, Budgeting, Execution and roll back of temporary resources engaged for the year end processing.
KRA11	Manage execution of standardized processes and measurement metrics across Data Capture, Requirement management, Issuance operations in New Business aimed at achieving client and Sales force satisfaction within prescribed standards.	1. Design and document processes pertaining to Data capture and Issuance and Requirements management within NB. 2. Ensure implementation of standard processes comprising of data capture and issuance and requirements as per set targets. 3. Identify, Define and periodically review service standards in terms of quality, speed, costs, regulatory compliance and operational risks to achieve the aforementioned objectives. 4. Scrutinize the processes to eliminate inefficiency and waste, thus controlling cost. 5. Key accountability for recommending the changes in the application form and signing off the same to be filed with IRDA. Also responsible for laying down new guidelines during product roll out to be implemented while filling the application form
KRA12	Lead and manage (recruit, motivate, develop and retain) a large team multi layered team.	1. Ensure timely, accurate implementation of HR practices such as code of conduct, mid term review, job description, appraisals, excellence awards and feed back. 2. Select appropriate people in consultation with HR. 3. Enable team work / improvements in interpersonal relationships through close personal interaction with the team 4. Motivate and utilize the resources efficiently and effectively to ensure maximum productivity is achieved. 5. Manage effectively the performance of the team members by proper coaching and counselling 6. Identify training needs of the team for their skill and process improvement and send them for the appropriate training programs. 7. Ensure that the manpower & other resources are properly planned for smoother, accurate processing of the team in a cost effective manner.
KRA13	Manage execution of standardized processes and measurement metrics across Data Capture, Requirement management, Issuance operations in New Business aimed at achieving client and Sales force satisfaction within prescribed standards.	6. Conceptualize and supervise periodic MIS generation like Company MA / MBR reports, NB monthly review dashboard presentation etc. to facilitate sharing of performance highlights and improvements areas with internal and external customers and also to help in decision making for upgrades in New Business deliverables. 7. Interact with other functions and identify means of improving processes to meet customer expectations 8. Achieve high audit points in internal/external audits 9. Ensure adherence to regulatory requirements and understand the implications on the New Business function in consultation with Compliance.
KRA14	Supervise, evaluate and authorize deviations from prescribed standards in Data Capture, requirement management, Issuance operations with specific focus on data capture and related functions with minimal impact existing risks and costs to accommodate special servicing requests from Client and sales force.	1. Record and appreciate the implications of exceptions on the function in coordination with Compliance/ Risk dept. Seek appropriate process corrections for implementation. 2. Analyse, appraise and justify where appropriate the benefit of accommodating the exception requests vis-a vis the risk and cost of adjusting deviations. 3. Record the risk in such deviations across the new business functions and authorise transaction as appropriate. 4. Do root cause analysis of Customer and Sales force dissatisfaction and put in place corrective/preventive measures. 5. Authorize deviations from prescribed standards/processes with minimal impact on existing risks and costs to accommodate special servicing requests from clients and sales force. 6. Identify regulatory requirements and appreciate the implications on NB in coordination with Compliance. 7. Recommend process modifications to reduce exception handling to improve customer experience. 8. Identify and Lead process modifications as required to improve accuracy, TAT's, costs and productivity in data capture and issuance processes.
KRA15	Responsible for accurate Registration of ECS Mandate forms with the Banks and third party vendor.	1. Ensuring QC is done for the entire ECS document and in case any discrepancy requirement raised for the same to ensure rejections are not done at a later stage from the banks. 2. Ensuring issuance of policies post receipt of completed Mandate form at HO. 3. Monitor that each issued mandate is tracked and sent to TPSL ( third party vendor for registration) 4. Ensuring successful registration of mandate form. 5. Follow up with branches for ecs failed registration cases by the banks and ensuring fresh mandates are collected and registration for the newly submitted mandate is successful.
KRA16	Identify, define and periodically review service standards to customers in terms of quality , speed, cost, regulatory compliance and risk pertaining to Issuance, Data capture and SVV to achieve the aforementioned objectives	1. Monitor WIP on a continuous basis so as to keep the pipeline of cases within prescribed limits. 2. Ensure through adequate Supervision on the units performance to ensure that applications are data captured within TATs. 3. Ensure that the issuance TATs for Medical and Non Medical policies are maintained to achieve functional goals. 4. Ensure Issuance to submission ratio is met as per Company MA standards. 5. Implement process corrections and automations to eliminate manual interventions and error free processes which shall reduce cost as well. 6. Ensure BCP plan readiness for smooth flow of processes due to any adverse incidents on the system / vendor / process / branch end.
KRA17	Manage vendor relationships in order to ensure that their SLA with BSLI are met	1. Regularly conduct vendor site visits 2. Track and monitor vendor performance basis the agreed SLAs 3. Train the vendor staff on the required processes. 4. Ensure SLA and process quality is adhered to by the vendors 5. Lead vendor migration activity for the unit. 6. Define service /product requirements from vendors and suppliers with maximum objectivity during migration and in steady-state process. 7. Participate in evaluation and discussions as required, during new vendor hiring. 8. Provide feedback to vendors and take appropriate corrective action wherever needed 9. Prescribe business rules for vendors and continuously upgrade the same basis change in process/systems/redulation. 10. Signing off the revision in agreement and informing the changes required to meet business standards.
KRA18	Identify, plan and manage projects within Issuance, requirement management and Data capture for improvements in process, systems, client and sales force satisfaction.	1. Identify and Lead projects from past performance, feedback from customers, sales force or industry benchmarking 2. Contribute to approval of projects by participating on the cost benefit reviews. 3. Implement the project by contributing through the project life cycle stages of planning execution and steady-state. 4. Identify, participate and contribute towards various cross functional initiatives. 5. Review and implement the Business requirements pertaining to the New Business actionable of the projects.
KRA19	Participate and contribute in the departmental budgeting process and actively monitoring that the budget limits are always adhered to	1. Participate in preparation of New Business budget, co-ordination with planning department for approval of the same and monthly reconciliation of actual cost v/s budget. 2. Use performance statistics and infrastructure usage for planning future business plans. 3. Identify and plan resource requirements and availability of people, space, systems and budgets. 4. To participate and supervise Year end capacity building activity, this includes Planning, Budgeting, Execution and roll back of temporary resources engaged for the year end processing.
KRA2	Establish and Influence and manage senior and middle level intra organisational, external customer relationship and vendor relationships to establish enhanced working relationships.	1. Appreciate the role of each function, the enabling factors of the relationships. 2. Ensure detailed definition and smooth implementation of processes and joint supervision of such interfaces. 3. Lead and/or participate in the working of cross-functional teams. Depute for the immediate manager in senior management meetings, when necessary. 4. Address and resolve customer queries and complaints within the prescribed timelines. 5. Identify measure and review day to day operational interactions at NB department that are determinants of customer and sales satisfaction
KRA20	Establish and Influence and manage senior and middle level intra organisational, external customer relationship and vendor relationships to establish enhanced working relationships.	1. Appreciate the role of each function, the enabling factors of the relationships. 2. Ensure detailed definition and smooth implementation of processes and joint supervision of such interfaces. 3. Lead and/or participate in the working of cross-functional teams. Depute for the immediate manager in senior management meetings, when necessary. 4. Address and resolve customer queries and complaints within the prescribed timelines. 5. Identify measure and review day to day operational interactions at NB department that are determinants of customer and sales satisfaction
KRA3	Lead and manage (recruit, motivate, develop and retain) a large team multi layered team.	1. Ensure timely, accurate implementation of HR practices such as code of conduct, mid term review, job description, appraisals, excellence awards and feed back. 2. Select appropriate people in consultation with HR. 3. Enable team work / improvements in interpersonal relationships through close personal interaction with the team 4. Motivate and utilize the resources efficiently and effectively to ensure maximum productivity is achieved. 5. Manage effectively the performance of the team members by proper coaching and counselling 6. Identify training needs of the team for their skill and process improvement and send them for the appropriate training programs. 7. Ensure that the manpower & other resources are properly planned for smoother, accurate processing of the team in a cost effective manner.
KRA4	Manage execution of standardized processes and measurement metrics across Data Capture, Requirement management, Issuance operations in New Business aimed at achieving client and Sales force satisfaction within prescribed standards.	6. Conceptualize and supervise periodic MIS generation like Company MA / MBR reports, NB monthly review dashboard presentation etc. to facilitate sharing of performance highlights and improvements areas with internal and external customers and also to help in decision making for upgrades in New Business deliverables. 7. Interact with other functions and identify means of improving processes to meet customer expectations 8. Achieve high audit points in internal/external audits 9. Ensure adherence to regulatory requirements and understand the implications on the New Business function in consultation with Compliance.
KRA5	Supervise, evaluate and authorize deviations from prescribed standards in Data Capture, requirement management, Issuance operations with specific focus on data capture and related functions with minimal impact existing risks and costs to accommodate special servicing requests from Client and sales force.	1. Record and appreciate the implications of exceptions on the function in coordination with Compliance/ Risk dept. Seek appropriate process corrections for implementation. 2. Analyse, appraise and justify where appropriate the benefit of accommodating the exception requests vis-a vis the risk and cost of adjusting deviations. 3. Record the risk in such deviations across the new business functions and authorise transaction as appropriate. 4. Do root cause analysis of Customer and Sales force dissatisfaction and put in place corrective/preventive measures. 5. Authorize deviations from prescribed standards/processes with minimal impact on existing risks and costs to accommodate special servicing requests from clients and sales force. 6. Identify regulatory requirements and appreciate the implications on NB in coordination with Compliance. 7. Recommend process modifications to reduce exception handling to improve customer experience. 8. Identify and Lead process modifications as required to improve accuracy, TAT's, costs and productivity in data capture and issuance processes.
KRA6	Responsible for accurate Registration of ECS Mandate forms with the Banks and third party vendor.	1. Ensuring QC is done for the entire ECS document and in case any discrepancy requirement raised for the same to ensure rejections are not done at a later stage from the banks. 2. Ensuring issuance of policies post receipt of completed Mandate form at HO. 3. Monitor that each issued mandate is tracked and sent to TPSL ( third party vendor for registration) 4. Ensuring successful registration of mandate form. 5. Follow up with branches for ecs failed registration cases by the banks and ensuring fresh mandates are collected and registration for the newly submitted mandate is successful.
KRA7	Identify, define and periodically review service standards to customers in terms of quality , speed, cost, regulatory compliance and risk pertaining to Issuance, Data capture and SVV to achieve the aforementioned objectives	1. Monitor WIP on a continuous basis so as to keep the pipeline of cases within prescribed limits. 2. Ensure through adequate Supervision on the units performance to ensure that applications are data captured within TATs. 3. Ensure that the issuance TATs for Medical and Non Medical policies are maintained to achieve functional goals. 4. Ensure Issuance to submission ratio is met as per Company MA standards. 5. Implement process corrections and automations to eliminate manual interventions and error free processes which shall reduce cost as well. 6. Ensure BCP plan readiness for smooth flow of processes due to any adverse incidents on the system / vendor / process / branch end.
KRA8	Manage vendor relationships in order to ensure that their SLA with BSLI are met	1. Regularly conduct vendor site visits 2. Track and monitor vendor performance basis the agreed SLAs 3. Train the vendor staff on the required processes. 4. Ensure SLA and process quality is adhered to by the vendors 5. Lead vendor migration activity for the unit. 6. Define service /product requirements from vendors and suppliers with maximum objectivity during migration and in steady-state process. 7. Participate in evaluation and discussions as required, during new vendor hiring. 8. Provide feedback to vendors and take appropriate corrective action wherever needed 9. Prescribe business rules for vendors and continuously upgrade the same basis change in process/systems/redulation. 10. Signing off the revision in agreement and informing the changes required to meet business standards.
KRA9	Identify, plan and manage projects within Issuance, requirement management and Data capture for improvements in process, systems, client and sales force satisfaction.	1. Identify and Lead projects from past performance, feedback from customers, sales force or industry benchmarking 2. Contribute to approval of projects by participating on the cost benefit reviews. 3. Implement the project by contributing through the project life cycle stages of planning execution and steady-state. 4. Identify, participate and contribute towards various cross functional initiatives. 5. Review and implement the Business requirements pertaining to the New Business actionable of the projects.