Product Manager- Policy Issuance
Aditya Birla Group · Mumbai · onsite · Posted 47d ago
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About this role
Job Description
Job Purpose
This incumbent acts as a technology partner to the Operations (Central Operations, Branch Operations, Underwriting & Claims) and Actuarial functions to identify, design, procure & implement technology solutions to meet the business needs and overall objectives.
The various aspects for this job role involve:
1. Collaborating with function heads to identify opportunities to enhance customer experience and improve efficiency
2. Helping the users to answer their pain points and uncover unsaid needs
3. Exploring latest technology solutions & setting up new products in the system
4. Owning end to end implementation of projects withing the defined timelines
5. Stakeholder and Vendor management.
Job Context & Major Challenges
.Conceptualising, designing & directing business requirements despite inadequate clarity of thought from the stakeholders and delivering to meet the expectation of multiple and diverse stakeholders and delivery timelines with limited resources.
.Constantly look out for latest technology trends and be aware of the systems and tools used in the financial services sector
.Prioritising projects, addressing various iterations and delivery with limited resources, time, cost and to the expectations of diversified stakeholders.
.Downloading the business needs/criticalities to the vendors who lack the required domain expertise to address ABSLI system requirements.
.Influencing the vendors to assign higher priority to ABSLI change request over other clients request to the satisfaction of diverse stakeholders expectations with limited time, resource and budget.
.Organising the workload of the team in an environment prone to frequent and dynamic regulatory changes which needs to be accorded higher priority in order to achieve timely closure of regulatory requirements flawlessly.
.Design accurate, scalable and sustainable system architecture, which is adaptable to business dynamics, keeping pace with frequent regulatory changes and to meet the diverse expectations of the stakeholders and organization.
.There is no proactive mechanism of tracking policy transactions data inconsistencies hence issues are identified either in audits or in the form of a customer complaints. Such data inconsistencies cause to non-adherence of regulatory guidelines and product File and Use, revenue leakages and loss to organization in terms of paying penal interest and excess payments and reputational risk to organisation.
Key Result Areas
| KRA (Accountabilities) (Max 1325 Characters) | Supporting Actions (Max 1325 Characters) | |
|---|---|---|
| KRA1 | Identify & implement new technology solutions to improve customer experience & operational efficiency | 1. Understand, analyse & recommend system solutions to setup new products so that customer experience can be enhanced, and Sales & Operational efficiency can be increased.5. Ensure product setup requirement documents are finalised and approved by all respective stakeholders for system development. 6. Review the system architecture and suggest improvements. 7. Ensure all required systems for product launch are ready and functionalities are approved by respective stakeholders before product launch. 8. Ensure system changes are tested considering all possible scenarios 9. Ensure that end users are trained on new product system changes and required process notes/training document is shared with them. 10. Ensure production monitoring of systems in initial days post product go-live. 11. Ensure post go-live issues if any are resolved on top priority 2. Negotiate with vendors for project delivery timelines 3. Participate in product working group meetings. 4. Finalise the new product system setup priorities in coordination with product management team and plan for product setup activities accordingly. |
| KRA2 | Understand the regulatory guidelines, analyse the impact on business and recommend system solutions | Understand the regulatory guidelines, analyse the impact on business and recommend system solutions 1. Understand the regulatory guidelines and analyse the impact on business and recommend system solutions. 2. Ensure that requirements are finalised and approved by respective stakeholders within given timeframe. 3. Ensure that senior management and respective stakeholders are updated on the progress of regulatory projects on a regular basis |
| KRA3 | Lead the Data Quality Cell for continuous monitoring of policy transactions and data quality | 1. Ensure critical transactions are identified and prioritised for data quality monitoring and analysis 2. Ensure system bug fixes as per RCA and control reports are developed for future monitoring 3. Ensure error transaction data is corrected in the system with sign-off from stakeholders 4. Ensure that senior management and respective function heads are updated on the progress of data quality activity on a regular basis. |
| KRA4 | Decide project priorities & action basis intensity of impact on organization to meet strategic and business objectives | 1. Coordinate with respective function heads for project priorities for the quarter.2. Decide the priorities basis the quantitative and qualitative benefits, management mandate and regulatory needs. 3. Arrange regular meetings with department heads on a regular basis and fix up final priorities. 4. Participate in the IT-working committee and influence project delivery timelines. 5. Ensure that the disputes if any are resolved and amicable solution is reached. Communicate the same to all stakeholders. Escalate any unresolved issues to senior management. 6. Reprioritize projects basis unforeseen business / regulatory / management need / FSD impact analysis. 7. Finalise the project priorities within given timeframe to avoid delay in project implementation. |
| KRA5 | Implement and maintain end to end BPM solution across operations to improve operational efficiency | 1. Collaborate with Ops sub functions in identifying opportunities for automation 2. Provide systemic solution to reduce TATs, improve efficiency and productivity of the respective Ops verticals 3. Ensure end to end delivery of projects |
| KRA6 | Investigate audit related queries and recommend technology solutions | 1. Ensure that all audit related queries are investigated and answered within given time frame. 2. Ensure Audit recommended projects are taken up on priority and recommend solutions to build functionality |
| KRA7 | Oversee the performance of team members to ensure the objectives of the department are accomplished | 1. Define the road map and set short term and long-term goals for team and monitor the progress ensuring that all the required resources are in place to achieve the set goals. 2. Allocation of projects according to the competencies and areas of expertise and ensure appropriate workload balancing within team members 3. Identify training needs and ensure team members are adequately trained to execute their assignments |
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About Aditya Birla Group
Aditya Birla Group
Metals & Mining
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169 years old
Mumbai, Maharashtra
India
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