Assistant Vice President - Key Account Manager

JOB SUMMARY:

The individual has to operate in a market facing business environment and work to develop and maintain long term high impact & trusted relationship with the key decision makers in the BroCA fraternity. Primary responsibility is to drive the growth and expansion of the channel by identifying business opportunities, developing strategic partnerships, and implementing effective sales strategies.

Candidate should be results-driven, innovative, and able to think strategically. Should be able to develop business expansion plans, cascade and monitor achievement of objectives; Engage with prospect and existing clients in Broking and corporate agency fraternity to meet business volumes and revenues targets within the overall business strategy and objectives.

KEY RESPONSIBILITIES:

1. Sales planning

Scan market potential and overall industry performance, and analyze past performance and input from team to forecast business growth potential

Prepare annual sales plan and propose forecasts for across targeted partners and geographies

Generate ideas for long term growth/ expansion plans in terms of addition to industry segments, key accounts, markets/ geography and team size

Continuously review sales performance across clients and focus markets/ geographies as against the set targets in the business plan

Provide performance feedback and inputs for course correction to the team to ensure on-target performance

Guide the team to identify/ expand prospect partner base by analyzing and filtering key players in the market

Present the sales performance across metrics to the superior and SLT on a monthly basis, seek input on course corrections

Periodically interact with key client stakeholders at the SLT level for both existing and potential clients to build relationships and identify new business opportunities

Conduct final negotiations with clients on commercial terms, service levels, etc. and guide the team to conduct initial rounds of negotiations

Take up matters with partners that team is not able to close and strike an appropriate compromise to close the deals

Discuss and influence cross-functional leaders and teams to seek support for achieving overall sales objectives of the organization

Resolve escalated issues with the customer service teams for speedy resolution of outstanding and complex customer issues

Provide competitor and market intelligence to the product development team for customizing own products in line with competition products and customer needs

Participate in the product and pricing committee to contribute to establishing and determining product pricing

Leverage various industry forums, social media avenues, etc. to ensure communication of First step Product s distinct market positioning in the industry

Participate in various industry forums to exchange ideas, discuss common issues and develop an understanding of latest industry trends, practices and movements

Represent the organization in forums to gain the needed brand recognition for the company

Participate in selection process to identify the right talent for positions within the sales team

Determine individual training needs and development plans to build expertise and enhance sales skills in the team

Set objectives, conduct reviews and close appraisal processes for the team as per timelines

Measures of Success:

Annualized premium achievement vs targets

Growth in active broker partners

Persistency & business quality

Partner NPS/Relationship scores

Process TAT & issue resolution metrics

Contribution to new initiatives and strategic projects

Key Competencies:

Strategic relationship management

Business & Financial Acumen

Negotiation & Influencing Skills

Leadership & People Development

Stakeholder Management

DESIRED QUALIFICATION AND EXPERIENCE:

Post Graduate degree in Business Management or equivalent.

12-18 years of experience in insurance/broking/financial services, with at least 5 years in senior account management or distribution leadership roles.

Proven track record of handling large partners/accounts with significant revenue contribution.

Strong understanding of the broking ecosystem, open architecture models, and emerging distribution trends.