Product Mix Council: Develop and oversee the product mix strategy to ensure a balanced and competitive portfolio, collaborate on product deployment, and monitor product performance.
Sales Governance and Channel Support: Ensure field governance and engage with stakeholders.
Key Responsibilities
Business Planning
Strategic Planning: Developing and implementing long-term business strategies and annual operating plan to achieve company goals and objectives.
Financial Forecasting: Overseeing business forecasting to ensure targets are met.Develop and build controls across key business measures.
Market Analysis: Conducting market research to identify trends, opportunities, and competitive threats.
Performance Monitoring: Tracking and analysing business performance metrics to inform decision-making
Benchmarking of competition practices in the Bank Open Architecture counter and build our practices to win the Lions share
Collaborate across functions including Finance, Products, Operations, Training, Marketing, BPMA, etc
Performance Management System (PMS)
Conceptualize, design and implement all the levers of Performance Management System including the compensation strategy, KRAs, Reward and Recognition framework
Goal Setting: Establishing clear performance goals and objectives for employees aligned with the company's strategic goals.
Performance Metrics: Defining and tracking key performance indicators (KPIs) to measure employee performance
Hierarchy Management System
Organizational Structure: Designing / maintaining an effective structure to support business.
Role Definition: Clearly defining roles and responsibilities at all levels.
Succession Planning: Developing and implementing succession plans along with HR to ensure leadership continuity.
System Management: Working with Business and Technology teams to define and manage the hierarchy in system.
Product Mix Council
Product Strategy: Developing and overseeing the product mix strategy to ensure a balanced and competitive portfolio.
Product Deployment: Collaborating with product teams to launch new insurance products / new variants / revisions.
Performance Monitoring: Regularly reviewing the performance of existing products and adjusting as needed
Sales Governance and Channel Support
Create and enforce sales / business policies
Ensure regulatory compliance
Track performance metrics
Key Competencies / skill required
Strategic thinking and analytical skills
Ability to understand big picture
Sound knowledge of Bancassurance or Banking operations model
Very strong communication skills: Ability to express ideas clearly and persuasively
Planning and Organization: Effectiveness in planning and organizing activities of himself/herself and team members
Intra Organization skills: Ability to work together with all stakeholders involved, flexibility in taking feedback and modifying approach
Desired qualification and experience
Management graduate / post-graduate with 6-8 years of experience
Minimum 3-5 years’ experience in the BFSI / preferably life insurance industry and relevant experience (preferable)
