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Job Purpose
This role is responsible for managing Sampark queries & escalations for the Zone, who will be actively involved in the Distributor engagement, distributor servicing over phone and achievement of the sales target.
Job Context & Major Challenges
Job Context/Job Challenges
Established in 1994, Aditya Birla Sun Life Asset Management Company, (ABSLAMC) is a joint venture between Aditya Birla Group and Sunlife Financial Inc., a leading international financial services company in Canada. ABSLAMC is a fund manager for Birla Sunlife Mutual Funds and currently ranks as the fourth largest fund Management houses in India with a total Average AUM base of over INR 2 Lakh 45 Thousand crores (as on Nov 2017). Out of the 42 fund houses in the country, ABSLAMC ranked 1st in Fixed Income AUM and 5th in Equity AUM category respectively. As of November 2017, the Average AUM market Share of the organisation was approx 10.73%. The company grew its investor client base by 44% to about 5.2 Mn from 3.6 Mn from the previous year, thereby bagging a second position in this category.
One Of The Key Challenges For ABSLAMC Has Been To Maintain a Balance Between Moving With Dynamic And Constantly Changing Regulatory Norms Of The Country And Maintaining Growth And Profitability In The Extremely Competitive Market. And Some Of Key Strengths Of The Organization That Have Helped It To Sustain And Grow Are
Focus on Technology-The organization has been in the forefront in implementing technological innovation to foster innovation and also to improve efficiency for its stakeholders, whether it is employees, clients or distributors
Product Innovation-ABSLAMC has been known to be a pioneer in terms of products and has a history of launching innovative, category defining products like Birla Cash plus, etc.
Research based approach-ABSLAMC has one of the largest team of research analyst dedicated to tracking down the best companies to invest in
Strong Distributor Delivery Mechanism-The Company has developed a 4 -pronged sales/delivery mechanism to ensure maximum reach and penetration to the end customers. This mechanism includes Companys direct Channels (branches/online), Independent Financial Advisors (IFAs), National Distributors (ND) and Banks.
Job Context-
Retail business is an important arm of the MF business. It helps the AMC garner equity assets, which is the most profitable asset in this business. It also helps in increasing the reach and penetration of various products across various geographies. There are multiple channels involved in this set up; namely-MFD (Mutual fund distributors), ND, PCG & Banking.
MFD Channel is the most critical channel for retail sales, majority bulk business is garnered from this channel. The channel helps us to increase our distribution and ensures our presence across the length and breadth of the country.
PPD-VRM will be responsible for servicing the distributors virtually-(Emails/Call).
PPD-VRM also provides virtual support to Sales RM on call
MF Distributors will be mapped to each VRM and they will be the one-point contact for generating business from them virtually.
VRM would need to connect with the distributors using the existing PPD IVR numbers and e-mail ID.
Since this is a virtual model, no meeting in-person is required as of now. As such, a VRM will be functioning from their existing branches.
All necessary trainings of products, selling skills and soft skills will be provided to help them become the virtual relationship manager.
Key Result Areas
KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)
KRA1 Virtual Relationship Sales Management Tracks market share and gross sales (to ensure that the Zone delivers the targets. Drives activation of MFDs to achieve higher sales volumes. Drives ongoing sales from the defined relationships and contribute towards sales achievements. Obtains and analyzes information from market to increase the Activation liaises to increase sales. Profiles distributors and caters to their requirements to ensure ongoing business from them. Daily track the VRM Productivity and business converted
KRA2 Managing Distributor Engagement Conducts joint meetings and contact with the distributors along with the VRMs. Disseminates updates and other product related information in timely manner to the VRMs (via email & connect with distributor). Organizes and executes trainings for the VRMS and engagements for partners in collaboration with Investor Education. Updates VYMO with requisite information to facilitate information collation and analysis.
KRA3 Reporting and compliance Ensures 100% compliance with internal reporting & audit systems. Provides weekly reports, to the VRM Head
KRA4 Manage the distributor servicing process Ensure all the distributor queries are handle and reverted on time. Identify gap areas and prioritize them based on the distributor expectations. Help developing systems to monitor adherence along with Manager. Identify & Implement the existing processes to improve the level of service. Share / adopt best practices across channels and share new ideas to enhance service offerings. Promote cross selling and upselling of the products. Pass on the Leads to the Sales RM
KRA5 Feedback action planning & Digital adoption Define action plans for implementing the proposed changes. Improve performance metrics like-Process Efficiency (eg-TAT), productivity, cost saving, customer satisfaction, etc. Use of technology (CRM, Right fax, IT infrastructure to move the manual interactions in to automated channels). Enhance distributor experience, increasing efficiency and productivity and overall cost reduction. Implement the digital adoptions
KRA6 Continuous review of VRM Distributor servicing processes Liaise with CRM team for development. Liaise with Contact centre operations team for implementation. Check with the Training and Quality team for standardization and quality of delivery
KRA7 Complaint and Escalation Management Detailed RCA of Distributor complaints for resolving it. Follow up with CAMS/Customer service team for resolution to resolve the escalation. Final resolution call to customer for closing the escalation.
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