TM-AM-Central Group Ops-Thane

Aditya Birla Group

Thane, India

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Posted 20 days ago
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Job Description

Job Purpose

The purpose of the role is managing Licensing of Channel partners, FOS & Specified persons. Providing support for IRDA audit on corporate agents for the TPD by providing relevant data and ensure channel partners are compliant and ready for audit. To provide innovative solutions to channel partners and arrange for necessary exceptions from internal departments in order to ensure closure of complaint in the stipulated TAT as per guidelines

Job Context & Major Challenges

Job Context: The purpose of the role is managing Licensing of Channel partners, FOS & Specified persons. Providing support for IRDA audit on corporate agents for the TPD by providing relevant data and ensure channel partners are compliant and ready for audit. To provide innovative solutions to channel partners and arrange for necessary exceptions from internal departments in order to ensure closure of complaint in the stipulated TAT as per guidelines

Job Challenges: TPD works with Banks, Corporate agents, Brokers and various other agency models including Direct marketing. Within each of the channel partner types there are different models of business viz Tellecalling, Wealth, Direct sales, Venue models, NRI, health etc. To meet this dynamic the TPD sales structure is made dynamic and complex. Understanding the multiple business models and dynamic business conditions in sales and distributions. Anticipating differential expectations of the different channel partners (5 Banca & over 800 CAB partner) and the 1500 strong TPD sales teams to provide customised solutions within TAT is the key challenge

Frequent changing rules and IRDA guidelines, Realigning the processes and business models to adapt to these changes, and quickly changing sales behaviour and implementing solutions which are general but customised to meet the business requirements of each model across these dynamic and varied business models.

Interdependency on other teams for speedy resolution of queries & immediate nature of escalations.

To overcome the pressure of highly demanding channel partners, who are large financial institutions with bargaining power in terms of demanding high levels of customisation and adaptation to their business needs.

Manage last minute IRDA training requirement without providing training in advance.

Handling Sales behaviour effectively in order to ensure compliance to internal and external guidelines and regulations.

Speed to market is the key in risk control, hence to continuously feel the pulse of the market and upgrade self knowledge on every aspect of business including product & processes to provide balanced solutions acceptable to all parties within the regulatory framework.

To gather enough mind share of the distributors and sales team towards resolution of complaints

Key Result Areas

	KRA (Accountabilities) (Max 1325 Characters)	Supporting Actions (Max 1325 Characters)
KRA1	Monitoring Day to Day Business activities pertaining to Licensing desk.	1 Monitoring of IRDA training & Licensing, Renewal of licence as per IRDA guidelines. 2 Ensure adherence to Compliance guidelines with respect to new Corporate Agent tie up, Renewal of Corporate Agents, etc. 3 Monitor overall quality with regards to MIS reporting and cost control of all training programs. 4 Review the Master database and identify the gaps related to training and compliance. 5 Handling of special projects as and when 6 assigned 7 Represent TPD with peer functions while finding ways to ensure and develop good empathy with the channel partners which would act as an enabler to draw business
KRA10	Audit and Compliance	1. Implementing Distributors audit as mandated by IRDA 2. Representing TPD in all Audit meetings and analysing scope of audit, authorising required base data for audits and ensuring a smooth audit. 3. Ensure successful completion of the audit within the stipulated time on a regular basis. 4. Tracking and analysing all audit requirements and ensuring closures within set deadlines. 5. Ensure past audit reports are completely analysed to avoid repetitive errors before any new audit scope is discussed. 6. Implement Alternate Site Testing, RCSA, and ID reviews from time to time as per Risk Management Guidelines.
KRA2	Managing the expectations of Internal and External Customers (Sales Stake Holders & Channel Partners)	Monitoring of Licensing for Internal customers (Sales) and Renewal of their licence as per IRDA guidelines. 2. Managing License status of TPD employees and ensure that the same is shared to Sr. Management 3, Monitor updation of the Faculty loading & Training calendar on a weekly basis to ensure appropriate flow of information to the sales
KRA3	External Licensing	. Monitoring of Licensing for external customers (Distributors) and Renewal of their licence as per IRDA guidelines 2. Ensure adherence to Compliance guidelines with respect to new Corporate Agent tie up, Renewal of Corporate Agents, etc. 3. Monitor updation of the Faculty loading & Training calendar on a weekly basis to ensure proper facilitation to the distributors
KRA4	Internal Customer (Sales) Examination	Monitoring examination schedules for internal customers (Sales) 2. Recommend, Plan and Manage class room training ensure continuous self up-gradation of Individuals about Products and Process knowledge.
KRA5	External Customer (Distributors) Examination	Monitoring examination schedules for external customers (Distributors) 2. Recommend, Plan and Manage class room training to ensure continuous self up-gradation of Individuals about Products and Process knowledge
KRA6	Vendor Payouts - Licensing / IRDA Training	Ensure timely vendor payouts and share cost analysis with on monthly / quarterly with senior management.
KRA7	Process Excellence	1. With change in regulation which has resulted in increased focus on complaint resolution within TAT set by the regulator, it's important that Channel Partner and sales team are made aware of this additional regulatory responsibility. Work closely with the channel partners and sales to ensure complaints are resolved within TAT's 2. Increase awareness amongst all stake holders with regards to IRDA guidelines regarding handling of customer grievances. 3. Identifying way's to curb the complaints by assessing trends with respect to complaints received and sharing the same with the concerned sales team / channel partners. 4. Implementing innovative method to share complaint analysis to create focus 5. Be part of the decision committee at PGRC 6. meeting and present cases for TPD received from channel partners . Interacting with internal departments (Compliance, Legal, Client Services, POLAD and Customer Services) for solutions to customer complaints received through various mediums.
KRA8	Process Excellence	6. Automate Complaint handling process completely, so as to have automated analysis and escalations processes in place thus saving time and man hours. 7. Reach out to Channel Partners for quicker resolution of Complaints. 8. Ensure various types of MIS / Trends are shared with the channel heads and channel partners within set time frame to have complete focus on type of complaints to analyse and improve Business Quality. 9. Guide, Intervene and Manage in case of critical issues / escalations to continue long term relationship with the channel partner and the client.
KRA9	Managing the expectations of the Channel Partners	1. Managing cordial relationship with External & Internal Customers by ensuring prompt & efficient service & resolution of queries. 2. Maintaining a high - end sales support team with user specific TAT's. 3. Liaise with Business & Relationship Heads to review quality of service & new opportunities