Assistant Vice President - Renewals

Job Description

Job Description

Position

AVP - Distribution Management & Transformation

Incumbent

NA

Department

Customer Retention team (CRT)

Function

Operations

Reporting to

VP - CRT

Band

3A

Location

HO - Gurgaon

1. 7 FTE + NFTE's

• The incumbent will be responsible for defining and designing policies and process for enhancing persistency.
• Design and roll out of PMS changes needed in distribution. Perform qualitative & quantitative analysis to firm up strategy for driving outcomes.
• Expectations include assisting in developing, maintaining & improving programs MIS, processes & procedures. Driving change behavior to successfully implement the changes.
• Need strong project management skills - have a well-organized & structured approach with ability to achieve tight timelines & prioritize effectively.
• Responsible for creating a framework for improving the quality of sales through onboarding controls.
• Assigned person role would need to work with key stakeholders (SVP & VP) of Bank for driving various projects.
• This job has a single point accountability for Centralized Project management with Banks, Automation and simplification of Processes in Bank, Audit & Regulatory data management, MIS and regular updates to Banks.
• The key responsibility for incumbent would be to drive Initiatives to meet the business key performance indicators along with Bank, cross functional teams and Bank central team.
• The profile also includes Data management, reporting for business and audit/regulatory requirements involving simplification and automation of processes.

• - Create strategy for each segment of the portfolio based on risk model to drive collection efficiency & drive initiatives in line with laid strategies to empower various interdepartmental teams life FCT, call center, distribution spocs, CET & other relevant teams.
• - Monitor portfolio to study pattern based on portfolio triggers & identify early warning signals to take corrective actions.
• - Bring industry benchmarked insights & market intel to understand and implement best practices.
• - Develop strategic presentations for leadership.
• - Create a strong framework for driving onboarding controls and ensure quality of sale.
• - Work with business teams and external vendors to bring new ideas and create strategies for renewal collections.
• - Collaborate with various stake holders to ensure timely delivery & completion of initiatives.
• - Develop/onboard technology to drive renewal & persistency through market leading technology.

• - Develop team members to perform effectively and efficiently
• Ensure coaching, role rotation and training interventions to help team for new assignments
• Driving Employee engagement and implement strategic initiatives to achieve high ESAT scores (90%+)

• - Project Management - Achievement of desired project outcomes within agreed timelines, monitoring and automation of process/project implemented, cross functional integration
• - Regular governance/engagement with segment head (Axis) and distribution segment head
• - Automation and availability of all business-related reports/MIS/Dashboard/Scorecard for the Channel/Segment driving all business parameters
• - Driving Operational efficiencies with Bank and distribution team to achieve OPS KPI's
• - Achieve Renewal/persistency targets
• Persistency - 88%+
• RI - 100% of target
• Audit Rating of 2 or less, No repeat observation
• Talent retention and Employee Engagement

• Graduate / Post Graduate qualification.
• Must have a minimum of 12-15+ years of experience. Preferably in renewal & retention.
• Sound Knowledge of Bancassurance or Banking Operations Model.

Job Description

Position

AVP - Distribution Management & Transformation

Incumbent

NA

Department

Customer Retention team (CRT)

Function

Operations

Reporting to

VP - CRT

Band

3A

Location

HO - Gurgaon

1. 7 FTE + NFTE's

• The incumbent will be responsible for defining and designing policies and process for enhancing persistency.
• Design and roll out of PMS changes needed in distribution. Perform qualitative & quantitative analysis to firm up strategy for driving outcomes.
• Expectations include assisting in developing, maintaining & improving programs MIS, processes & procedures. Driving change behavior to successfully implement the changes.
• Need strong project management skills - have a well-organized & structured approach with ability to achieve tight timelines & prioritize effectively.
• Responsible for creating a framework for improving the quality of sales through onboarding controls.
• Assigned person role would need to work with key stakeholders (SVP & VP) of Bank for driving various projects.
• This job has a single point accountability for Centralized Project management with Banks, Automation and simplification of Processes in Bank, Audit & Regulatory data management, MIS and regular updates to Banks.
• The key responsibility for incumbent would be to drive Initiatives to meet the business key performance indicators along with Bank, cross functional teams and Bank central team.
• The profile also includes Data management, reporting for business and audit/regulatory requirements involving simplification and automation of processes.

• - Create strategy for each segment of the portfolio based on risk model to drive collection efficiency & drive initiatives in line with laid strategies to empower various interdepartmental teams life FCT, call center, distribution spocs, CET & other relevant teams.
• - Monitor portfolio to study pattern based on portfolio triggers & identify early warning signals to take corrective actions.
• - Bring industry benchmarked insights & market intel to understand and implement best practices.
• - Develop strategic presentations for leadership.
• - Create a strong framework for driving onboarding controls and ensure quality of sale.
• - Work with business teams and external vendors to bring new ideas and create strategies for renewal collections.
• - Collaborate with various stake holders to ensure timely delivery & completion of initiatives.
• - Develop/onboard technology to drive renewal & persistency through market leading technology.

• - Develop team members to perform effectively and efficiently
• Ensure coaching, role rotation and training interventions to help team for new assignments
• Driving Employee engagement and implement strategic initiatives to achieve high ESAT scores (90%+)

• - Project Management - Achievement of desired project outcomes within agreed timelines, monitoring and automation of process/project implemented, cross functional integration
• - Regular governance/engagement with segment head (Axis) and distribution segment head
• - Automation and availability of all business-related reports/MIS/Dashboard/Scorecard for the Channel/Segment driving all business parameters
• - Driving Operational efficiencies with Bank and distribution team to achieve OPS KPI's
• - Achieve Renewal/persistency targets
• Persistency - 88%+
• RI - 100% of target
• Audit Rating of 2 or less, No repeat observation
• Talent retention and Employee Engagement

• Graduate / Post Graduate qualification.
• Must have a minimum of 12-15+ years of experience. Preferably in renewal & retention.
• Sound Knowledge of Bancassurance or Banking Operations Model.