HO spoc_Anal&Comm-MRA

Job Purpose

The purpose of the job is to perform financial analysis of the channel, including zonal and branch-level analysis, and track the expense gap along with giving suggestions for improvement. The role is responsible for setting sales targets based on the set defined logic and track them. It also plays a role to propose and implement any planned new initiatives for DSF Channel which helps in achieving planned channel objectives. Providing channel leadership with relevant support in other key activities like awards, driving initiatives and suggesting course corrective action

Job Context & Major Challenges

Job Context: The purpose of the job is to perform financial analysis of the channel, including zonal and branch-level analysis, and track the expense gap along with giving suggestions for improvement. The role is responsible for setting sales targets based on the set defined logic and track them. It also plays a role to propose and implement any planned new initiatives for DSF Channel which helps in achieving planned channel objectives. Providing channel leadership with relevant support in other key activities like awards, driving initiatives and suggesting course corrective action

Job Challenges:

• Getting a consensus on suggested corrective action for improvement in expense gap during the zones/region meets.
• Working out business target logic which is fair, logical, standard, realistic and acceptable due to availability of multi dimensions for defining targets and selecting the most appropriate which is acceptable across 632 branches
• Analysing the financial data is challenging as data at Branch and employee level is not easily accessible, which creates a hurdle in analysing the financial data. and defining the exact issues in different branches
• Facilitations especially in cross functional projects due to their stakes in projects being low but getting the work done / issues resolved on a timely basis and engaging them with interest in the project
• Zonal structure plotting of 650 branches, keeping in mind the span, distances between locations, road connectivity ensuring maximum coverage with minimal travel cost is a challenging exercise.
  
  

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)

KRA1 Perform Financial Analysis and carry out Budgeting to identify the expense gaps and take corrective action 1. Analyze Expense Gap / Gain by tracking the priced expenses and actual expenses

• Identification of the expenses heads for variance and analyze the cause and suggest remedial action
• Assess the need for new initiatives for optimal utilization of available resources and control the expenses
• Carry out dip stick analysis on business performance (financial) of the channel. Analyze performance of channel from multi-dimensional approach thereby giving a deeper insight through various self developed tools like Branch Stability Index & Branch Deciling tools
• Communicate Expense Gap analysis to zones suggesting corrective actions pertaining with zones/ regions for effective implementation and assessing impact
  
  

KRA2 Managing Projects pertaining to Expansion, Restructuring & Other Initiatives 1. Carry out a deep dive analysis to highlight the relevance of the project / initiative and its impact on channel

• Keeping the broader objective in mind involvement of multiple variables in consideration set, prepare the proposal for the management
• Considering the ground realities, devise the action plan which can be implemented fast & seamlessly
• Continuous review of all activities of the projects and assess its progress
• Implement changes (if required) in plan to meet the broader objective
  
  

KRA3 Gather and communicate Market & Industry Intelligence 1. Track the progress / development of the entire life insurance industry and the BSLI's competitors (by way of first hand information from field and desk research)

• Analyze the YOY and MOM business trends & Market shares of competition and benchmark with BSLI
• Track the movements on monthly basis
• Keep the management informed about the progress
  
  

KRA4 Creating and proposing a business plan for DSF Channel at Branch Level 1. Analyse past trends (industry behaviour, productivity, Vintage, product mix, various business health parameters, e.g. Attrition, Input Output Ratio, Average Policy Premium, active advisors, creation of segments as per their productivity and behaviour)

• Devise basic assumptions that form the foundation of target distribution exercise
• Strategically distribute the sales targets month on month basis the business seasonality. The determination of the seasonality is based on the available business levers, past business trend, etc
• Develop distribution base build-up plan
• Incorporate suggestions from senior sales team members.
• Timely communication to the stakeholders.
  
  

KRA5 Propose Branch allocation for Zonal & Regional clusters 1. Basis the planned manpower and presence of BSLI Branches within the different geographies of the country, carve out the regional / Zonal Spans and their respective clusters

• Finalize the spans in discussion with the Zonal Heads, HR and HOS for formal rollout and implementation in the field
• Suggest and incorporate mid-term changes in structure if required
• Keep all the stakeholders updated about the structural designs and changes if any (as structures have linkages with the allied departments)
  
  

KRA6 Preparation of presentations for reviews and other Financial Analytics and Senior Management Support 1. Financial Related (Incentives design, tracking) analysis of the impact of new incentive structure

• Partnering with Accounts and Planning in identifying areas and finalizing guidelines for cost optimizations
• Detailed R&R Analysis with CSP analysis
• Provide other Management support Requirements with New Analysis and Initiatives, Chairman Updates etc
• Support to HOS & Dist Development Head in driving various activities like Awards, driving Shatak Concalls and update on course corrective action and its implementation
  
  

KRA7 Team Development 1. Ensure continuous on-the-job training and skill enhancement of team members

• Through a structured rotation system, ensure that all team members get sufficient exposure on the various sub verticals to build knowledge base within the team.