Role/Job Title: Channel Manager - Insurance Function/ Department: Wealth, Retail Banking Job Purpose: The role holder has the responsibility to own and drive the product life cycle (for General Insurance) from high level concept to design to delivery and beyond. It entails aligning business and technical components to deliver banking needs to the customers in the most cost efficient and technology effective manner. It includes managing teams, systems, process and culture amenable to the scale and ensuring consistency of delivery. Role will closely collaborate with Retail team - Product, Operations, Sales, Policies, Compliance for same. This role encapsulates the responsibility of providing a seamless and fulfilling customer experience and ensuring IDFC First becomes the primary bank for all banking needs. Roles & Responsibilities: ideate on new product specifications basis inputs received from customers, ideation posts. Manage product life cycle - Customer segmentation and assessment of their needs. Responsible for preparing and obtaining business case documents for distribution and internal approvals. Regular tracking of all channel performance and ensure adequate support is given to channels from the Vendor/support teams to ensure agreed plans are delivered. Improve the performance & quality of portfolio through regular monitoring and providing recommendations for course correction to the Product and Sales teams. Work with pricing actuaries for obtaining competitive new product pricing within pricing benchmarks. Work with unstructured data to arrive at key insights to drive product mix and sales initiatives through new concept development, training, product advocacy and field management support. Be ready with solutions for complex system workarounds and ensure readiness before launch. Create quarterly themes in collaboration with marketing and distribution to energize distribution and improve case size. Create and manage all product literature and marketing collaterals of new product which is consistent with Policy document. Assure adherence to the guidelines set by the bank. Ensure bank meets the audit, compliance & regulatory requirements. Gather latest Market intelligence and track and benchmark against best practices in competitor banks. Secondary Responsibilities: Recommend process changes in order to improve service efficiency and quality across the assigned area. Recommend improvements to processes and policies across the Retail Banking business to drive operational efficiencies and high-quality customer service. Leverage in-house synergies through collaboration with internal stakeholders. Managerial & Leadership Responsibilities: Attract and retain best-in-class talent for key roles in their reporting structure. Key Success Metrics: Increased Profitability, Portfolio Quality, Total No. of Customers, Number of Customer Acquisitions Education Qualification: Graduation: Any Experience : 2 to 5 years
