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Aditya Birla Capital Limited
Aditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 63,750 employees, the businesses of ABCL have a nationwide reach with over 1,712 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,712
No. of Employees
63,750+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.50 Lakh Cr
Active Customer Base
39 Million
Consolidated Lending Book
INR 1.78 Lakh CrCorporate Governance Policies
- Policy for appointment of Statutory Auditors
- ABCL NRC Policy
- Corporate Social Responsibility
- Fair Practices Code
- Internal Guidelines on Corporate Governance
- Familiarization Programme for Independent Directors
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- Ombudsman
- Privacy Policy
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- Regulatory Disclosure
Financial and Debt-Related Policies
Business and Partnership Policies
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- ABFL Terminated Collection and Recovery Agency List
- Importance of Following Repayment Schedule
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- Interest Rates & Service Charges
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- Terms & Conditions
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- Archival Policy
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Job Description
TM-Mgr-GO Central-Thane
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Job Description
Job Purpose
Responsible for Planning, Implementation & end to end Supervision of Operational activities for the new business and renewal including voluntary business Designing customised solutions as per client needs mitigating risks involved & ensuring delivery in adherence to all statutory, regulatory and internal guidelines
Job Context & Major Challenges
Job Context: Group life insurance covers the lives of multiple individuals such as some or all employees of a business, members of a labor union, or members of an association. Depending on the group life insurance policy, the insured person may receive life insurance coverage as an employee benefit, make a contribution to pay part of the cost, or may pay for the group life insurance policy on their own.
Group life insurance is based on the risk characteristics of the group as a whole, recognizing that some members of the group would be less of a risk than others. Most of the groups purchasing group life insurance are generally strongly cohesive with many common characteristics linking all members of the group.
About Group Operations
At Group Operations, we cater to corporate clients. Each corporate client has requirements specific to their group. Given the specific requirements, processes are customized to suit the client,s needs.
Moreso, the Group Operations team manages the entire policy life cycle i.e. New business, underwriting, Policy administration, Response to queries etc.
Due to the peculiarity of group business, the team needs to possess refined skill sets to support client,s dynamic requirements whilst adhering to various statutory, regulatory and internal norms.
Given the complexities involved, & the fact that knowledge of Group Insurance is a rare find, the incumbent period to train a resource in Group Ops is higher & as such training & mentoring of the team members is an ongoing & challenging task
Key Challenges for the role :
Given the dynamic & highly exceptional nature of group business, create & implement Custom made solutions as per each corporate client requirements by applying knowledge of fundamentals, technical know-how & past experience, whilst operating within budgetary, regulatory & statutory constraints.
Ensure 100% compliance to Service level agreements w.r.t Turnaround Times even in times of resource limitation & sub-optimal IT system performance.
Ensure process are executed with 100% accuracy & due diligence as even a single processing error could expose BSLI to major financial risk (the Sum Assured for each member is very significant i.e.in crores).
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Identify and Evaluate Risks affecting the business & devise processes to mitigate the same. Implement robust controls to eliminate any Financial/Data loss to the organisation as well as the clients. Organize appropriate risk reporting to all concerned authorities.
Inspite of the skewed nature of Business Volumes, ensure timely release of systems for month end/ year end batch processing without any delay, thus ensuring that business reports are submitted to internal stakeholders/ IRDA on a timely basis.
Ensure that 100% confidentiality w.r.t clients medical information & medical reports is maintained inspite of the multiple contacts points & member-wise specific instructions. The challenge is that in certain policies the count of members ranges till 12000.
Plan and implement administrative processes and system requirements for scheduled/unscheduled product launches/amendments. Ensure designing and implementation of Day 2 system requirements in consultation with product, pricing and system teams.
Effectively adapt to the constant regulatory & statutory changes & align processes in accordance with the guidelines within the expected timelines
Manage day-to-day operations, by efficiently utilizing the available system & human resources. Modify solutions in event of resource limitations, spikes & and sub-optimal IT system performance or system limitations.
Key Result Areas
| KRA (Accountabilities) (Max 1325 Characters) | Supporting Actions (Max 1325 Characters) | |
|---|---|---|
| KRA1 | Design, Manage, Control and implement Business Processes and ensure that the Service Levels are met at all times | Design and implement custom made processes to suit each Voluntary clients requirements ensuring compliance with company & regulatory norms, whilst working within budgetary limits Discussion with Internal stakeholders with regards to Launch of new products and plans. Planning and implementation of the new products / plan within the timelines. Design & Implement Key Business Projects & Initiatives. Track project milestones and deliverables. Ensure adherence to business processes maintaining 100% Turn Around Time( TAT) and Accuracy for New business, Renewal, Policy Administration and medical Underwriting transactions Approve exceptions post careful evaluation of risks involved, considering the impact on internal and external customers. Communicate approvals in a timely fashion. |
| KRA2 | Design, Manage, Control and implement Business Processes and ensure that the Service Levels are met at all times | Design processes to ensure 100% compliance to company & regulatory norms. Ensure high Customer retention to maintain healthy Persistency scores. Undertake negotiations with the pricing team for competitive rates to maintain a healthy book. Carry out Audit at regular intervals to ensure that all transactions processed are 100% accurate w.r.t processing and client communication Intervene to resolve any delays with internal and external agencies for early closure of pending cases. Monitor the team,s capacity utilization and accuracy matrix at regular intervals to ensure that the same are as per the set standards. Forecast business/transactions volumes & Ensure adequacy of staff for processing by recruiting skilled manpower. Review & Approve SOPs. Ensure that the same is updated at all times |
| KRA3 | Facilitation of Medical and Non medical Underwriting Identify, & evaluate Risks involved & build controls to mitigate the same | Identify and assess Risks affecting the business. Design & Implement processes with robust control mechanism to mitigate the same & eliminate any Financial/Data loss to the organisation as well as the clients. Periodically revisit processes to evaluate controls & amend the same as per need. minimum pendencies Organise appropriate risk reporting, to all the concerned stakeholders |
| KRA4 | Maintain Client Relationships by providing best in class services. | Understand customized client requirements & devise mechanism to ensure delivery of the same within the set timelines with 100% accuracy Periodically undertake industry benchmarking surveys & incorporate best industry practices thus assisting the sales & service team to gain competitive advantage through differentiated customer service. Conduct periodic feedback surveys to gauge & bridge any gap between service expectation & delivery. |
| KRA5 | Suggest & implement system automations & drive implementation of key business projects | Identify requirements for automation & enhancement & ensure development of the same by the IT team Review & Approve User Requirement Document (UR) & Functional specification document (FSD) prepared by the IT team, to ensure that the same is in line with User specifications & approve the same. Seek delivery timelines for project completion Pre-empt areas of concern & highlight the same with probable solutions Provide inputs in user testing phase and provide Sign-Offs for ,Go-live, i.e. production movement. Provide the necessary inputs and development requirements for any New Product Set-up. |
4 - 7 years
Under Graduate
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