Canara HSBC OBC Life Insurance - Vice President - Sales Training & Governance

Role Purpose (overall high-level summary of the role)

- To formulate and implement the Company's training strategy through training plans, training calendars, programs and assessments aligned to Strategic imperatives for CHOICe.

- To develop and enhance the knowledge and skill levels of the sales force in line with business requirements and measured against specific improvements in productivity, conversions and assessment scores

- To develop and manage training content across IRDA, knowledge and skill training

- To continuously implement initiatives to improve the quality of training according to changing business requirements

- To develop and manage a strong team of specialist trainers (training managers) to develop and deliver periodic training to the sales force

- To ensure compliance with norms and rules laid down by IRDA with regard to training and licensing of the Company's sales force

- Conceptualize & Institutionalize a Sales Governance strategy to ensure that conduct risk is minimized across sales channels and CHOICe sales team.

- Facilitate the licensing process for seamless recruitment of SPs across channels

Principal Accountabilities: Key activities and decision-making areas :

1. Impact on the Business / Function :

- To work with sales and business development teams to ensure the achievement of defined AOP objectives for CHOICe

- Optimize the training cost by leveraging Mobile LMS

- Trainer Productivity and Project Management

- Meet Staff related metrics

Typical Targets and Measures :

- Channelwise AOP Targets agreed with partner banks - Board approved

- SP Activization rates by partner bank - Board approved

- Branch Activization rates by partner bank - Board approved

- Persistency score for CHOICe

- Optimize training batch sizes & Leverage LMS for all Knowledge initiatives

- Ensure all costs and capital expenditure are within budgets

- Achieve 10 Training Man-days per month including Training Delivery & Field Training Support activities for Channel Heads - Training & ZTMs & 15 Training Man-days per month including Training Delivery & Field Training Support activities from the S/ATMs in the Team.

- Ensure all S/ATMs in the Team are trained and certified on all the Training Modules to be delivered by them.

2. Customers / Stakeholders :

- Customer Satisfaction - positively impact the knowledge and skill levels of the partner bank sales teams aimed at improving overall customer satisfaction through needs-based selling approach

- Arrange Quarterly Steering Council with Partner Banks, National Sales Manager and Head of Business Development for quality review of training initiatives and their impact.

- Deliver Target number of Training Activities

- Positive Training Feedback

- Launch customized LMS modules for reinforcing learning

Typical Targets and Measures :

- CSS Survey results & Customer Complaints to meet the defined benchmark approved by the Board

- Sales knowledge and skills reinforced for SPs and CHOICe sales team across partner banks with defined training path aimed at enhancing Need-Based Selling

- Quarterly Steering Councils across partner banks and CHOICe Sales teams

- Ensure the Channel Heads, ZTMs & S/ATMs achieve FTS (Field Training Support) activities based on defined benchmarks with targeted new/underperforming/ identified RMs/SPs.

- Ensure Training Feedback score of > or = 4

- Launch customized LMS modules at least once every quarter

3. Leadership & Teamwork

- Connection to field and staff - gain insight into a business by conducting monthly team meetings, quarterly skip meeting and visit at least one hub office/partner bank branch every month.

- Leverage the identified synergies across functions aimed at enhancing training effectiveness.

- Training Certifications for meeting the organizational learning & development objectives

- Maintain all Training Related Records/ Reports in specified formats

- Conduct a monthly review of the performance of DRs in the team

Typical Targets and Measures :

- Completion of defined meetings and field visits

- Joint initiatives launched together with cross-functional team aimed at positively impacting the business in

- Continue to cascade values & vision through various communication forums across the organization to ensure culture alignment jointly with HR

- Successfully complete all mandatory training modules on CHOICe Academy and assigned TTT workshops for self and team members.

- Monthly review with Channel Heads - Training, ZTMs, AVP - Digital Learning & Instruction Design, AVP - Sales Governance & Licensing

4. Operational Effectiveness & Control :

- Develop an Annual Training Budget, aligned to the defined business objectives for CHOICe

- Drive a behavior of following the defined processes and ensuring Training process compliance

- Ensuring roll out of focused initiatives to drive Sales Quality with targeted certification for SMs, SOs, ASMs and RSMs where the importance of Persistency is highlighted for enhancing renewal collection. A consistent message throughout the year with field-aligned initiatives, together with Sales, Marketing, Business Development and Customer Retention.

- Ensuring proactive monitoring of the ZSMs, RSMs, ASMs, SMs and SOs with Sales Monitoring Tool - based on defined Sales Quality and Sales Process parameters. The emerging trends to be presented in the SQSCs and Governing Boards of the banks. All the actionables of the Governing Boards to be reviewed with BD team for successful completion

- Ensuring meeting all regulatory compliance norms for successful conduct of life insurance sales across channels -including actionables emerging from Board, Governing Boards, PPSQG and SQSC

- Ensure deployment of SFM score docking based on SMT parameters for institutionalizing Sales Quality focus in collaboration with the risk function

- Ensure RCAs and BRCM controls as per the plan to ensure CHOICe Sales and Partner banks are compliant as per the
New Corporate Agency Guidelines and emerging policy changes by the regulator

- Validate all agreements being signed for new partnerships and establish a proactive Sales Quality framework

- Ensure sharing of Monthly Training MIS for the bank channels with the stakeholders

Typical Targets and Measures :

- Annual Sales Training budget signed off with finance

- Adherence to the process with regards to Pre-Certification training for all new nominated SPs

- Monthly review of the training processes and adherance in Sales Training team concall and in person audits through the Channel Heads - Training, ZTMs & BRCM and self during hub visits

- Ensure 100% of any Audit flagged actions and obtain a Satisfactory Rating

- Share Monthly Sales Training MIS with each of the Partner Banks as part of Bank MI

- As per agreed plans with monthly publishing of defined dashboards

Major Challenges :

- Managing the expectations of the diverse set of partner banks.

- Ensuring defined roll out of training calendar across the partner banks based on agreed timelines

Role Context :

- The VP - Sales Training & Sales Governance has to interact across partner banks and CHOICe Sales teams to ensure that all the training and development initiatives are aligned to the Strategic Initiatives of CHOICe & rolled out in a timely manner

- Successfully manage underperformance across partner banks and CHOICe Sales team

- Demonstrate measurable change in productivity with people development initiatives across partner banks

- Build a Leadership position for CHOICe in the Learning and Development domain & find opportunities to showcase the same in Industry forums

- Ensure institutionalizing strong sales governance processes at CHOICe to ensure conduct risks is minimized

Management & Leadership of Regulatory, Compliance & Operational Risk:

Report any operational risk or operational risk loss to the line manager immediately (who is required to timely report to Operational Risk Coordinator) if the jobholder becomes aware of emerging or inadequately controlled operational risk or identify an operational risk loss in accordance with section B.1.2 of the Group Operations FIM.

Observation of Internal Controls:

To timely report any emerging or inadequately controlled risks and operational risk losses to their line management and the Risk management function