Strategy Manager - Distribution Development Management

Job Purpose

To provide inputs to develop distribution strategy for TPD and propose new TPD distribution models in line with the business agenda. The role would also involve taking new initiatives during the year which would either supplement the existing structure and/or create new distribution models and streamlining the TPD distribution back-end processes to ensure consistent support to the sales force.

Job Context & Major Challenges

Job Context: To provide inputs to develop distribution strategy for TPD and propose new TPD distribution models in line with the business agenda. The role would also involve taking new initiatives during the year which would either supplement the existing structure and/or create new distribution models and streamlining the TPD distribution back-end processes to ensure consistent support to the sales force.

Job Challenges:

• Dynamic business & regulatory environment leading to multiple changes in priorities and goals.
• Ensuring higher Retention and productivity of TPD sales force compared to competition operating in the same market.
• Scalability and integration of new business models along with the current existing business model in the field without any disturbance and with seamless transition
• High dependency & coordination with other functions for arriving at business solutions.
• Frequent course corrections basis market/sales team feedback to make the business models more robust & effective.
• Developing new initiatives balancing cost with attractiveness and ensuring success of the initiatives
  
  

Key Result Areas

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

KRA1 Propos new TPD distribution models within existing distribution setup and create new verticals. 1. Conducting market research/benchmarking on the business models prevalent among the competitors in India as well as abroad

• Developing business case and business model for new initiatives, new markets/ in-organic growth opportunities and developing technology platforms in coordination with operations & IT for defining service delivery guidelines & defining the operating framework.
• Apprise the TPD leadership on the new models and take inputs from them as well as field.
• Conduct financial analysis to assess financial viability prior to new distribution models by guiding the team to run simulations on the data to see the cost impact and its viability and do multiple modelling and building different scenarios for finalizing decision from the Top Management
• Drive inception of approved strategic models and update management on the progress and development of the models / initiatives and take corrective actions where required to ensure success as desired after the rollout
  
  

KRA2 Prepare, monitor & control distribution budgets and define business targets and span of control for the entire TPD sales hierarchy Budgets

• Liaison with the organization & sales leadership to understand business plans and accordingly help in creating a roadmap for the budget for the year.
• Conduct Impact Analysis of existing & new initiatives on the budget & creating provisions for the same. Discuss & prioritize items on budget basis discussion with sales leadership/sales vertical heads.
• Finalization of the Budget taking into account trends, existing or potential issues and opportunities in coordination with the sales leadership.
  
  

Targets/KPIs

• Analysis of data basis past trends, market /regulatory conditions on various business parameters and benchmark competition performance basis locations/vintage/FLS behaviour/market condition to arrive at business targets.
• Finalization of the KPIs for all TPD Sales roles across country with the help of Sales leadership.
• Publication of periodic dashboards and suggestions for corrective measures to the field force to cover up the gap on various business levers.
  
  

KRA3 Designing Sales Dashboards and analysis of performance across branches to provide for strategic inputs 1. Designing of a comprehensive TPD Sales Dashboard architecture in line with the business dynamics & market conditions.

• Analyse performance across channels on various sales and productivity parameters in order to identify concern areas
• Creating newer dimensions of looking at data by formulating differential dashboards to give a complete new perspective for evaluation.
• Ensure effective & accurate publication of dashboards to the field & suggest corrective actions basis the same.
  
  

KRA4 Develop new initiatives / distribution strategy roadmaps to improve productivity and enhance profitability 1. Identify key value drivers and develop action plan to influence these value drivers to enhance sales performance

• Propose action steps to minimize expense gap for the channel and make profitable by understanding the sales and non-sales parameters across all relationships.
• Develop & launch new initiatives to build up, enhance productivity and retention of the field force
• Tracking & monitoring progress of the initiatives taken on a regular basis.
  
  

KRA5 Designing & Development of Progression Plan & Variable compensation plan for TPD Verticals 1. Analyze the sales forces variable compensation based on different variables and compare it with the variable compensation plan of some of the leading players to be deployed as a benchmark

• To ascertain the most optimal compensation structure through Financial modelling and scenario building and be easy to understand by the field force
• Trade off priorities and gains in one area with those in another areas and to ensure the compensation is within the Plan and get the maximum participation and benefit of the compensation
• Monitor compensation pay-outs every month to track influence on following parameters:
• Retention
• Productivity
• Earning potential
• Number of people earning.
• Gestation period in commencement of earnings from the time of joining
• Ensure the compensation and career progression is such which has long lasting impact on the field force and acts as a retention tool