Relationship Manager - Kalyani

Job Purpose

Responsible for managing a team of premier IFAs and achievement of the sales target expected from those set of distributors.

To ensure attainment of maximum market share from these set of IFAs

Job Context & Major Challenges

Organisation Context

Birla Sunlife Asset Management Company is one of the early entrants into the market with a 15 year history of Asset Management in India. It is a joint venture between the Aditya Birla Group and the Sun Life Financial Services Inc. of Canada.

About The AMC Industry

The Indian MF Industry has grown on the back of some really strong performance of the Indian equity market. However, it remains to be seen whether the industry has matured enough to handle the downside as well, when the performance of the market tapers, as it has since January 2008.

The long term outlook for Indian equities continues to remain positive, and going forward, equity returns are expected to track the earnings growth.

There is an increased interest globally on Indias fast growing asset management business. This can also be witnessed with entry of new global players in the market and a number of other global players queuing up for licenses.

Other important developments have been that there has been a rise in the percentage invested in equity products as compared to debt products in the last year and decision by SEBI to waive the entry load for investors making applications for investments in existing mutual fund schemes directly.

AMC Market in India

The Indian mutual fund industry assets under management (AUM) settled at Rs. 7,62,502 Crores for October 2009. Including fund of funds, the total AUM stood at Rs. 7,63,362 Crores as on October 2009. The AUM as of March 2009 stood at Rs. 4,93,189 Crores.

Job Context

Retail is an equally important arm of the MF business as compared to institutional. It helps the AMC garner equity assets, which is the most profitable asset in this business. It also helps in increasing the reach and penetration of various products across various geographies. There are multiple channels involved in this set up namely IFA, ND, PCG & Banking.

Key challenges

• Activation One of the most important aspects of the IFA channel is to increase activation of the PoS i.e. maximum PoS selling our product. With every Relationship Manager managing a large number of relationships, to be able to reach out to them and to ensure that they remain consistently active with us is a challenge.
• High Market Share Creating top of the mind recall in the minds of the IFA is another important challenge in this role. With the presence of over 35 players in the industry, we need to have a high recall, which will lead to enhanced market share.
• Training & Updation To update the IFAs is a challenge in itself. Market dynamics keep changing on a daily basis and it is equally important to update the advisors frequently.
• Practices adopted by competition To be able to sell your products in an environment where stiff competition forces market players to adopt various pricing and incentive strategies, which we may not be able to match.
• Service issues Ensuring that all service related issues of IFAs and their investors are sorted out with a quick TAT. Servicing is a very critical aspect of the relationship and if issues are not sorted out in adequate time, it may lead to relationship turning sour with the IFA.
  
  

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)

KRA1 To achieve the allocated equity and debt sales target 1) Profiling of the IFAs and targeting them accordingly.

Ensuring timely communication of information and personally meeting them periodically.

KRA2 To achieve the allocated PMS sales target 1) Identify IFAs who have the requisite clientele for PMS and create awareness about our schemes and their performance among those distributors.

Accompany them on joint calls to meet their clients.

KRA3 To achieve the targeted number of new SIPs 1) Focus on the unique offering in this segment to maximise sales.

To communicate and educate the distributors about its advantages and potential as a tool for wealth creation.

KRA4 To ensure maximum POS activisation 1) To ensure widespread participation from all IFAs and monitor these numbers on a regular basis.

To conduct regular presentations and training sessions on a large scale to help increase participation

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