Job Description

AB Sun Life Insurance Co Ltd

Assistant Regional Manager - DSF - Ludhiana

Location: Ludhiana, Punjab

Job Description

Job Purpose

The purpose of the job is to ensure execution of the sales distribution strategy for the allotted region through achievement of the allocated sales targets by effectively leading the complete sales force for the region while ensuring quality of business sourced and market conduct is as per defined guidelines.

Job Context & Major Challenges

Job Context: The purpose of the job is to ensure execution of the sales distribution strategy for the allotted region through achievement of the allocated sales targets by effectively leading the complete sales force for the region while ensuring quality of business sourced and market conduct is as per defined guidelines.

Job Challenges: • Unavailability of skilled manpower in small towns

• Short gestation time to develop people because of fast business demand.

• Managing Attrition at the frontline due to immense competition

• Getting adequate infrastructure in place in small locations

• Highly competitive and aggressive industry, especially in the Direct Sales Force channel

• Ensuring a fine balance between the multiple demands placed on the sales force by multiple channels.

Key Result Areas

	KRA (Accountabilities) (Max 1325 Characters)	Supporting Actions (Max 1325 Characters)
KRA1	Ensure effective execution of the business strategy in the Region	1. Devise and execute branch-level plans based on market analysis to ensure achievement of targets 2. Ensure effective communication and awareness of targets by each team member 3. Conduct periodic reviews and recommend corrective action where required 4. Drive and motivate team members to achieve business targets 5. Ensure branches allocated are manned adequately with quality manpower
KRA2	Identify incremental business opportunities in the region through market intelligence & penetrate in underdeveloped market to enhance distribution reach	1. Gain market intelligence in allocated geography 2. Devise and execute in place strategies to tap potential market. 3. Ensure recruitment of advisors in the areas having unexploited potential 4. Enhance brand awareness in underdeveloped areas for future business
KRA3	Ensure profitable and sustainable business by driving sourcing of high quality business sourced, market conduct in line with organizational and legal requirements as well as managing cost effectively	1. Ensure that the business activities are carried out as per the compliance & regulatory guidelines laid by the company 2. Put in place checks and balances to control the quality of business 3. Take corrective actions as and when any malpractice or market misconduct is found 4. Drive awareness and adherence to persistency targets 5. Monitor each branch’s actual expenditure against budget 6. Initiate measures to curb the less important expenses & drive profitability at the branches 7. Drive branch profitability by taking new cost optimization initiatives
KRA4	Ensure high levels of motivation and productivity in the team by effective implementation of sales promotion & R & R programs and implementation of sales tools and processes	1. Implementing Sales progression across the levels wherein people are more assured of career enhancement on delivery of the expectations 2. Drive periodic zonal and organizational R&R initiatives and motivate team towards peak achievements 3. Effectively communicate the promotional program to the entire sales team. 4. Ensure branches plan the incremental revenues through these programs. 5. Ensure the delivery of results during the program period 6. Give feedback on the results of the promotional program. 7. Identify opportunities, drive and monitor productivity enhancement initiatives 8. Communicate the effective use of sales process to the entire sales team 9. Plan and review the process at the BM/BH/ReM. FLS and the Advisor level and obtain the feedback for further enhancement. 10. Facilitate the maintenance of proper database on day to day activities to monitor performance
KRA5	Ensure streamlined teamwork with support functions such as Operations, Sales Training, Marketing, Compliance and HR to ensure achievement of regional business goals	1. Giving proper support to the Operations team to improve the login to completion ratios for new business sourced as well as servicing to existing clients. 2. Ensure team members are a part of planned Training initiatives so as to ensure they are adequately equipped in terms of knowledge and skill. 3. Work with the HR team for manpower hiring, engagement and retention across region 4. Work with the Zonal Compliance team to ensure awareness of prevailing guidelines, and taking proactive and corrective measures to ensure proper market conduct as stipulated 5. Provide inputs for improvement of processes across all support functions
KRA6	Team Development	1. Ensure through continuous on the job training, skill enhancement of team members