Job Description

a About Max Life Insurance: Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third party distribution partners. Max Life has built its operations over almost two decades through need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per public disclosures, during the financial year 2019-20, Max Life achieved gross written premium of Rs. 16,184 crore. As on 31st March 2020, the Company had Rs. 68,471 crore of assets under management (AUM) and a Sum Assured in Force of Rs. 913,660 crore. For more information, please visit the Company\'s website a t We Stand for: Caring A compassionate leader who demonstrates appreciation for diversity in thoughts and approach towards people as well initiatives, eliminates biases to promote meritocracy. A coach who inspires people to excel and sets a culture of high performance. Collaboration A boundary-less leader who is capable of identifying & leveraging expertise of team members for superlative outcomes, thus, delivers to the organization\'s ask. A leader who addresses challenges with a solution oriented approach to create \'win-win\' partnerships within & outside teams through inspired cooperation and teamwork. Customer Obession A leader who embodies Customer and keeps him at the core of all deliverables. Proactively anticipate customer needs and implement strategies to provide best in class customer experience. Growth Mindset An ambitious leader who can sponsor game changing ideas and rally the team to turn them into a reality. A leader who challenges the status quo, takes bold & creative actions to manage complex issues & achieve high impact goals by pushing self and others and raise the bar on performance. People Leadership A people\'s leader who inspires their teams to stretch themselves and achieve their true potential. A leader who create leaders by coaching, empowering & motivating them to deliver superior business outcomes. \'Max Life Insurance is an Equal Opportunity Employer and promotes inclusion and diversity.\' Position AVP - Key Account Manager -Broking Department Broking Business Function Broking Reporting to CVP & Head of Broking Band 3 Location Delhi JOB SUMMARY: Contribute to the development of the strategy and implementation of the Business Plan for the Broca partnership. Define directions and objectives considering both internal and external scenarios to maximize revenue and profitability from the relationship. Sustain a successful relationship with the partner, characterized by a high level of strategic alignment & tactical engagement in the life insurance business. KEY RESPONSIBILITIES: Relationship Management Engagement with the key stakeholders of the Broca at the HO and in their zones, regions etc to build the business plan, key priorities and objectives of the relationship Create and align the Broca leadership on the annual and long term business plan, operating model maximize the revenue and profitability from the relationship. Achievement of sales and profitability plan for the relationship Achieving monthly, quarterly and annual sales plan Meeting product mix as agreed to ensure VNB targets are met Building the team and People management Completing the module to ensure last mile support to the relationship Hiring, inducting, and deploying staff at the Broca branches in consultation with the Broca central teams. Hiring of supervisory staff and their enablement Creating the PMS and Compensation philosophy along with the HR teams Creating the learning strategy for the team along with the Training Team Lead the deployment of business plan to the internal team as well as partnership. Lead the engagement with the partner. Develop measures and dashboards to measure the effectiveness of the relationship. Liaise with other functional and departmental heads (training, finance, HR) and negotiate availability of required resources and commitment to maximize customer service. Conduct monthly reviews by channel. Support team in discussing and finalizing remedial action, as required with partner in order to ensure that the relationship has the requisite capability to deliver business strategies and goals Allocate manpower resources to different teams / geographies. Approve training plans and negotiate availability with Broca Training team. Seek approval of R&R programs developed by designated reportees from Department Heads. Counsel and mentor reportees. Lead the rating and normalization discussion involving skip level subordinates based on inputs received from HR in order to ensure that the assigned teams are capable and motivated to achieve targets Provide inputs to the training team on the nature of partnerships, protocols agreed, service level agreements etc. to develop appropriate training content. Approve the content developed by subordinates in coordination with the Training team in order to ensure the development of requisite skills and understanding in reporting teams Seek approval from Department heads on the design parameters and budgets of Sales promotions as proposed by subordinates and get it implemented. Approve and allocate budgets. Review performance and develop fresh guidelines based on learning\'s in order to assist the teams in meeting targets within stipulated profitability norms Validate product specifications proposed by subordinates. Review and seek approval on the business case for relationship specific products. Lead liaison with other functions like marketing in order to maximize revenue, profits and customer delight by providing customized products and services Interpret audit guidelines as applicable to partnership. Prepare audit framework and share with team and Auditors. Review audit results and support teams in closure of discrepancies in order to ensure that operations meet the required risk guideline (regulatory and internal) Negotiate and monitor costs and commissions. Set standards and guidelines for the team. Periodically review actual spends vs. standards and takes appropriate action in order to maintain expense ratios to ensure sustainability of operations. Manage Broca, by Relationship Building and enabling the Broca Management, including the CEO/Ins. Head to develop the Business and take the Partnership to higher levels of excellence . DESIRED QUALIFICATIONS and EXPERIENCE: 12-15 years of experience in intensive Broca Relationship Result Orientation, working with & Through Others, Innovation, Customer Centricity, Technical Expertise, Managerial Expertise, Problem Solving & Decision Making, Business Acumen, Role Modelling Core Values, Strategic Planning & Execution Measure of Success: Mindshare at partner counter AFYP Objective vs. plan Partnership review scores Productivity Measures (Case Rate, Case Size, AFYP per FTE, Seller Activisation, Persistency etc.) Headcount vs. plan No. of training interventions vs. plan No. of Sales Promotions Promotion wise success criteria New product sales VS the objective No. of discrepancies in Audits Opex to revenue ratio for the relationship Key Relationships (Internal /External) CVP & Head of Broca Business planning & Analytics Team HR and Sales Training Team Compliance Team Broca Management Key competencies/skills required Result Orientation Strong relationship, networking & negotiation skills Working with & through others Problem Solving & Decision Making Role Modeling Core Values Strategic Planning & Execution Analytical skills & process orientation Strong presentation & communication skills In-depth understanding of the Broca model Ability to think creatively

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