Canara HSBC OBC Life Insurance - Assistant Vice President - New Business - Group Operations

Manage New Business resources and processes effectively to meet strategic objectives.

1.1 Monitoring and analyzing periodic Management Information directing the recruitment, retention and development of staff.

1.2 Ensuring that the Service Level Agreements (SLAs) are met by New Business & Collections Team.

1.3 Ensuring that all New Business processes (Production Support, Refunds, Policy Printing & Dispatch, and Vendor Management.) are handled in accordance with procedures and that the team fully understands the operational and financial risks associated with New Business.

1.4 Handling Process Transition on account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology

1.5 By initiating new ideas related to process and ensuring the effective implementation as soon as possible with the support of team members

To obtain a satisfactory rating in all internal & external audits.

2.1 To ensure that all high risk audit items get actioned in time scales committed to audit committee.

2.2 To ensure that all audits and controls are in place as required by regulator and internal compliance.

2.3 To ensure that all vendors are audited for process compliance and training needs at least once a quarter.

Manage and fulfill partner banks requirements.

3.1 Interact and work closely with the staff of partner public sector banks and liaison for an effective and sleek finance system.

Maintain on overall Policy Issuance TAT of - 11 days.

4.1 Complete workflow implementation for processing of new business applications.

4.2 To play a vital role in getting the STP rules made and implemented.

4.3 To redesign the data entry model under New Business and look for a process that is more cost effective, encourages optimum utilization of resources without compromising on quality.

Process Integration within Service Delivery.

5.1 Group, Policy Servicing and New Business refunds desk to be unified.

5.2 All vendor management under service delivery to be integrated.

5.3 Requirement management desk for retail and Group to be unified.

5.4 Data entry for Group cases to be moved on transaction basis under one shop.

5.5 Money reconciliation reconciliation for Group cases that will get routed through Hubs need to be managed by Billing & Collections Process Efficiency

6.1 Help achieve STP throughput of 60%

6.2 To enhance the scope of Tele requirement management.

6.3 To introduce offline data entry system for retail cases.