JD Channel Head Business Development Organized Wealth Mumbai

Purpose:

The purpose of the Channel Head is to strategically build incremental market share, drive sales and create new business opportunities in the foreign and private banking and the wealth management space by deepening existing partnerships with them.

Client Overview:

Foreign Banks, Private Banks and Wealth Management.

This entails engaging with them to build incremental market share measured in terms of AUM, Customer Acquisition, Gross and Net Sales in all asset categories (Equity, Debt, Alternates and PMS) and SIP, while being the internal nerve center linking investments, products, legal, finance compliance and sales in order to capture and capitalize the new business opportunities in a changing landscape.

Roles & Responsibilities:

a) Writing business proposals to drive the organizational business plans and set up the roadmap for the year. Develop frameworks for engagement plans and deepening of organizational relationships with distribution partners.

b) Actively work with the investment management and product teams to ensure that distribution partners have absolute clarity and comfort on different products so as to confidently approve and/or retain the on-boarding of products on their distribution platforms.

c) Negotiate a win-win pricing that is competitive for the distribution partners while at the same time keeping a balance of potential channel conflicts scenarios and AMC profitability.

d) Program management and project management to ensure successful launch, track and drive campaigns by effectively coordinating internal and external teams to maximize business output.

e) Share guidance with sales team across regions and hierarchy to ensure sales strategy and distribution tie-ups are executed as intended.

f) Enthusiastically communicate and defend house views with research and product teams of all assigned relationships for AuM retention and growth, to gain their feedback, and understand their requirements in detail.

g) Monitor overall distribution landscape and specific partner performance so as to identify and deliver corrective or improved actions to achieve target sales outcomes.

h) Work closely with and drive multiple distribution verticals including retail sales, institutional sales, Alternates (PMS, AIF, RE) and offshore.

Accountability Supporting Actions:

Develop and drive channel strategy:

- Develops the channel strategy by scanning the environment, interacting with key distribution teams, tracking competitors and identifying trends or areas of opportunity.

- Drive the sales team in a manner that is most suited to company's goals in the near and long term by understanding the nuances, strengths and weaknesses of every distributor in detail and creating a relevant action plan.

- Defines and drives the implementation of the communication plan to distribution partners and internal sales team which includes focusing on certain key product categories from time to time based on Fund house view and exclusive drives executed with distribution partners.

- Identifying and placing the right product with the right channel in a manner that will make sales closures easier for the sales teams across the regions.

Own and drive the channel targets:

- While the regional teams are responsible for the targets in their respective locations, the BD Channel Head is responsible for the channels targets across all locations.

- There is a dual responsibility of owning the channel targets and supporting the regional targets. As part of that it is critical to monitor sales on a daily, weekly, monthly and quarterly basis to track progress towards agreed sales targets with distributors.

- Plan and execute central interventions after constant consultations with regional sales teams and distributors to further support achievement of sales numbers.

- Be responsible for the marketing initiatives undertaken by the channel to support sales activities.

Optimize pricing negotiations with partners:

- Understand the distributors internal revenue sharing structures to negotiate the most optimal pricing strategies that will lead to incremental sales.

- Negotiating claw backs and recoveries (if any) in an amicable and acceptable manner for both the distributor and company.

- Negotiations with partners also entails making the most of their platforms in lieu of the pricing for instance, exclusive drives or allowing company to address their customers and RMs across different segments or creating visibility or access on their online portals.

- Ensuring that assets are acquired profitably for company either through ongoing sales, NFOs or deal specific pricing.

- Implementing the agreed pricing on the brokerage tie-up system - DICE.

Program and Project Management:

- During regular work of deepening the relationship with the channel partners, there could be several projects that emerge due to joint exploration of a specific opportunity.

- These projects could be long-term in nature, like jointly building capabilities in a specific area like ETFs, PMS or SIP book building or could also short term in nature like developing a certain legal agreement, creating a detailed engagement plan or developing and implementing a marketing plan to support one particular product.

To strengthen and nurture ties with every Banking and wealth management relationship formally and informally:

- Regular interaction with the research teams of the banks and connect with our investment team for the market outlook and relevant product inputs.

- Defend or show case the fund performance to research, product and central sales teams of the distributors.

- Timely approval and recommendation of the focused funds in the banks.

- Driving central level engagements that are meaningful to the distribution partners and creates opportunities for the sales teams across the country.

Facilitate Seamless communication flow between internal and external stakeholders to improve sales productivity:

- Understanding the thought process of the distributor and their sales plans to align internal activities along the same lines.

- Planning regular interactions with the Zonal and central business teams to review channel performance, share guidance and inputs on initiatives and activities across the country, offer feedback and address region specific issues if any.

- The information sharing is necessary to improve the productivity of the sales team. Productivity is measured at the channel, partner and regional level.

- This entails maintaining a central database of distributors that has every information of the distributor that can help the sales team. For instance, the different segments, branches, products, internal revenue sharing mechanism, regional focus etc of every distributor.

Manage, guide, develop and groom the team:

- Oversees on-boarding, capability development and retention of team members to drive channel productivity.

- Sets high performance standards and drives accountability for results.

- Recognizes team efforts in a timely manner and provides opportunities for learning.

- Contributes to building an environment of trust and respect for individuals.