Vice President & National Sales Head - NBFCs & Other Banks - South

Function Summary

Introduction: Group Credit Life insurance is a specialized product offered by life insurance companies designed to cover the outstanding loan amount in case the borrower passes away during the loan tenure. This insurance is typically purchased by financial institutions like banks and NBFCs to protect their loan portfolios and reduce credit risk.

Job Summary

The National Relationship Head for NBFCs & Other Banks (South) will be responsible for managing and expanding strategic relationships with Non-Banking Financial Companies (NBFCs) and banks across the South region. The role focuses on driving business growth by promoting Group Credit Life insurance products ensuring strong partnerships and coordinating with internal stakeholders for seamless product delivery and service excellence.

Formulation of business strategy and long-term Business Plan for Group Credit Life (GCL) Business through NBFCs & Banks P&L Management for assigned GCL portfolio with topline ranging 500-1000 crs over next three years; drive implementation of Business Plan; Lead Relationship Management with Sr. leaders of key accounts such as Mahindra Finance PNB Housing Finance Axis Finance and others through effective partner engagement Management of internal and external stakeholders

Key Responsibilities

1. Relationship Management & Business Development

• Build nurture and strengthen relationships with key decision-makers in NBFCs and banks in the South region.
• Manage the complexity of Open Architecture within key partnerships such as PNB HFC Axis Finance Mahindra Finance etc. to ensure that Max Life maintains dominant counter share. Drive sales team to counter stiff competition in open-architecture scenario through innovation change management & strategic initiatives.
• Identify new business opportunities and partnerships within the financial ecosystem relevant to Group Credit Life insurance.
• Develop and implement strategies to grow premium volumes and market share through NBFCs and banks.
• Formulation of credit life business strategy for key partnerships assigned in line with GCL Business & Organizations over-all strategy. Deployment of strategy and attainment of top-line & bottom line goals
• End-to-End Management of business partner relationships Strategy Business Plan Product & Marketing strategy for product Drive field engagement initiatives and ensuring end-to-end customer service delivery

2. Portfolio Management

• Manage the existing portfolio of NBFC and bank partnerships to maximize business growth and retention.
• Monitor partner performance ensure adherence to service standards and resolve any issues impacting partnership satisfaction.
• Drive renewals and expansion of credit life insurance schemes within partner portfolios.

3. Sales Enablement & Coordination

• Collaborate with internal teams such as underwriting product operations and claims to ensure smooth onboarding and servicing of partners.
• Facilitate partner training sessions to improve product understanding and sales capabilities.
• Coordinate cross-functional efforts to support partner requirements and problem resolution.
• Create lead and present in external governance forums with key partners for periodic business reviews for driving key performance vectors - Attachment Ratio Value Penetration Level Cover Share Rider Attachment etc. Internally driving Zone Heads & sales team. Effective usage of Analytics for driving key vectors & productivity
• Deepening relationship - increasing Share of Wallet from key partnerships through activation of new channels/business segments

4. Market Intelligence & Strategy

• Stay updated with regulatory changes market trends and competitor activities affecting NBFCs and banks in the South region.
• Create lead and present in external governance forums with key partners for periodic business reviews for driving key performance vectors - Attachment Ratio Value Penetration Level Cover Share Rider Attachment etc. Internally driving Zone Heads & sales team. Effective usage of Analytics for driving key vectors & productivity
• Co-create with HR an optimum org structure for GCL-Key Partnerships identify the right talent for various positions within the function. Enable training needs identification and drive employee training & development agenda. Oversee rewards and recognition policies for GCL business to ensure reinforcement of right behaviors among employees
• Scan external environment to keep abreast with advances in technology product process and talent capability and lead their implementation in own team. Proactively identify gaps and implement improvement initiatives & digitalization and deploy best practices to help drive productivity sales model optimization
• Provide insights and feedback to product and marketing teams for continuous product improvement and market fit.
• Develop region-specific plans aligned with national business objectives.

5. Compliance & Risk Management

• Ensure compliance with internal policies regulatory guidelines and risk management protocols in all partnership dealings.
• Maintain accurate documentation and reporting related to partner engagements.

6. Reporting & Analytics

• Provide regular reports on business performance pipeline and partner health to senior management.
• Use data analytics to identify growth opportunities and risks within the portfolio. Analyze sales trend to take decisions for product refreshments / new product opportunities
• Analyze sales trend to take decisions for product refreshments / new product opportunities

Key skills required

• Relationship Building & Networking
• Strategic Sales & Business Development
• Negotiation & Influencing
• Market Awareness & Competitor Analysis
• Customer Centricity
• Communication & Presentation Skills
• Team Collaboration
• Result Orientation
• Working with & through others - Coordination skills to manage interactions between various departments
• Superior MS Excel & MS PowerPoint skills
• Networking abilities and contacts in the local market an added benefit

Key Relationships Management (Internal /External)

External: New group credit life insurance partnerships

Internal:

• CDO Max Life
• EVP & Head Group Business & New Growth Verticals
• SVP & Business Head Credit Life
• Head & Zonal Heads of BD/Alliances team
• Head Program Mgt. GCL Business
• Head Group Operations U/w & Claims
• Head-Training/DCC & Head-BPMA
• Head-Channel HR
• Legal & Compliance
• President/EVP & Business Heads of Business Partners (Eg: EVP & Head- LAP Loan Axis Finance
• Head-Insurance/Head-TPP of business partners
• Underwriting Product Operations Claims Marketing teams

Function Summary

Introduction: Group Credit Life insurance is a specialized product offered by life insurance companies designed to cover the outstanding loan amount in case the borrower passes away during the loan tenure. This insurance is typically purchased by financial institutions like banks and NBFCs to protect their loan portfolios and reduce credit risk.

Job Summary

The National Relationship Head for NBFCs & Other Banks (South) will be responsible for managing and expanding strategic relationships with Non-Banking Financial Companies (NBFCs) and banks across the South region. The role focuses on driving business growth by promoting Group Credit Life insurance products ensuring strong partnerships and coordinating with internal stakeholders for seamless product delivery and service excellence.

Formulation of business strategy and long-term Business Plan for Group Credit Life (GCL) Business through NBFCs & Banks P&L Management for assigned GCL portfolio with topline ranging 500-1000 crs over next three years; drive implementation of Business Plan; Lead Relationship Management with Sr. leaders of key accounts such as Mahindra Finance PNB Housing Finance Axis Finance and others through effective partner engagement Management of internal and external stakeholders

Key Responsibilities

1. Relationship Management & Business Development

• Build nurture and strengthen relationships with key decision-makers in NBFCs and banks in the South region.
• Manage the complexity of Open Architecture within key partnerships such as PNB HFC Axis Finance Mahindra Finance etc. to ensure that Max Life maintains dominant counter share. Drive sales team to counter stiff competition in open-architecture scenario through innovation change management & strategic initiatives.
• Identify new business opportunities and partnerships within the financial ecosystem relevant to Group Credit Life insurance.
• Develop and implement strategies to grow premium volumes and market share through NBFCs and banks.
• Formulation of credit life business strategy for key partnerships assigned in line with GCL Business & Organizations over-all strategy. Deployment of strategy and attainment of top-line & bottom line goals
• End-to-End Management of business partner relationships Strategy Business Plan Product & Marketing strategy for product Drive field engagement initiatives and ensuring end-to-end customer service delivery

2. Portfolio Management

• Manage the existing portfolio of NBFC and bank partnerships to maximize business growth and retention.
• Monitor partner performance ensure adherence to service standards and resolve any issues impacting partnership satisfaction.
• Drive renewals and expansion of credit life insurance schemes within partner portfolios.

3. Sales Enablement & Coordination

• Collaborate with internal teams such as underwriting product operations and claims to ensure smooth onboarding and servicing of partners.
• Facilitate partner training sessions to improve product understanding and sales capabilities.
• Coordinate cross-functional efforts to support partner requirements and problem resolution.
• Create lead and present in external governance forums with key partners for periodic business reviews for driving key performance vectors - Attachment Ratio Value Penetration Level Cover Share Rider Attachment etc. Internally driving Zone Heads & sales team. Effective usage of Analytics for driving key vectors & productivity
• Deepening relationship - increasing Share of Wallet from key partnerships through activation of new channels/business segments

4. Market Intelligence & Strategy

• Stay updated with regulatory changes market trends and competitor activities affecting NBFCs and banks in the South region.
• Create lead and present in external governance forums with key partners for periodic business reviews for driving key performance vectors - Attachment Ratio Value Penetration Level Cover Share Rider Attachment etc. Internally driving Zone Heads & sales team. Effective usage of Analytics for driving key vectors & productivity
• Co-create with HR an optimum org structure for GCL-Key Partnerships identify the right talent for various positions within the function. Enable training needs identification and drive employee training & development agenda. Oversee rewards and recognition policies for GCL business to ensure reinforcement of right behaviors among employees
• Scan external environment to keep abreast with advances in technology product process and talent capability and lead their implementation in own team. Proactively identify gaps and implement improvement initiatives & digitalization and deploy best practices to help drive productivity sales model optimization
• Provide insights and feedback to product and marketing teams for continuous product improvement and market fit.
• Develop region-specific plans aligned with national business objectives.

5. Compliance & Risk Management

• Ensure compliance with internal policies regulatory guidelines and risk management protocols in all partnership dealings.
• Maintain accurate documentation and reporting related to partner engagements.

6. Reporting & Analytics

• Provide regular reports on business performance pipeline and partner health to senior management.
• Use data analytics to identify growth opportunities and risks within the portfolio. Analyze sales trend to take decisions for product refreshments / new product opportunities
• Analyze sales trend to take decisions for product refreshments / new product opportunities

Key skills required

• Relationship Building & Networking
• Strategic Sales & Business Development
• Negotiation & Influencing
• Market Awareness & Competitor Analysis
• Customer Centricity
• Communication & Presentation Skills
• Team Collaboration
• Result Orientation
• Working with & through others - Coordination skills to manage interactions between various departments
• Superior MS Excel & MS PowerPoint skills
• Networking abilities and contacts in the local market an added benefit

Key Relationships Management (Internal /External)

External: New group credit life insurance partnerships

Internal:

• CDO Max Life
• EVP & Head Group Business & New Growth Verticals
• SVP & Business Head Credit Life
• Head & Zonal Heads of BD/Alliances team
• Head Program Mgt. GCL Business
• Head Group Operations U/w & Claims
• Head-Training/DCC & Head-BPMA
• Head-Channel HR
• Legal & Compliance
• President/EVP & Business Heads of Business Partners (Eg: EVP & Head- LAP Loan Axis Finance
• Head-Insurance/Head-TPP of business partners
• Underwriting Product Operations Claims Marketing teams