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Trivandrum_Deputy Retention Role Purpose (overall high level summary of the role) The primary responsibility of the jobholder will be to manage the Surrender Retention Process and support the BRCM for the Customer and Surrender Retention team. The role requires extensive cross functional liaisoning within the Company viz. CHOICe Sales, Business Development, Risk, Policy Servicing, Audit and with the partner banks. Adherence to all internal and regulatory TATs would be another significant aspect of this profile. The jobholder will also act as a retention lead managing the needs of internal processes such as Surrender Retention in terms of team and targets as and when required. The role also requires to liasion with the Business partner (outsourced call center) for the Lapse Recovery and Engagement calling campaigns. The Job holder should have an eye for detail and will also be responsible to monitor pre-defined success parameters and goals (HO & Partner location )in terms of Services Levels, Quality (customers retained & satisfaction level) and Efficiency (TATs & first time resolutions). Creating action logs and tracking timelines will also be an important expectation from the person managing this role. The person will have to put in place a quality management process both from internal operational and customer satisfaction perspectives.

Creating Process

Notes , Power-point presentations and managing high data volumes to effectively document and display important areas of processes will be a key aspect of this role. The Job holder will be a part of the CRM model for performance management and payouts.

Principal Accountabilities: Key activities and decision making areas Typical Targets and Measures Impact on the Business / Function • Identifying Process Risks and supporting the BRCM on mitigations • Track Service Levels and daily/weekly/monthly activity dashboards • Regular Dashboarding and Process Note/PPT creation • Action log and timeline follow up • Manage Process Audits and track key audit findings.

- Manage Cross Function Relationships and liasioning • Manage Regulatory TATs and Agreed Compliance guidelines • Maintain service standards and meet targets for achievement in processes such as Surrender Retention & Lapse Recovery with Engagement calling.
- Work on MIS & analytics to formulate emerging trends.
- Ensure the team is equipped to address topical issues like market fluctuations, etc.
- Ensure to meet the agreed performance level as per the objective setting form.
- Vendor Relationship management & Tracking • Manage Proactive Surrender Retention model • Meeting daily calling targets while maintaining prescribed quality standards • Achievement of individual and functional surrender retention targets • Adherence to internal and regulatory TATs Customers / Stakeholders • Enhance customer experience by ensuring that the team follows highest standard of service • Regular tracking of key actionables and highlighting status/deviations to functional heads.
- Acts as a support system for the Functional BRCM • Ensure that the customers make informed decision about surrendering their policy and reinforce the advantages of staying invested.
- Timely dissemination of information to Field Team ,Sales and bank staff to ensure better collaboration.
- Managing customer escalations within stipulated timelines • MIS and Reports to be shared with all stakeholders as per the agreed frequency Leadership & Teamwork • Proactively work with the team to provide customer centric services and solutions • Work closely with the Business Planning team to drive strategic imperatives.
- Partner with all relevant cross functions to provide a hassle free experience to the customers • Co-ordinate and work closely with HUBs, field team and HO for effective retention of surrender requests.
- Identify the Training/Skills development need of individual • Enhance capabilities of the team through their regular participation in training & coaching programs • Foster positive attitude & high levels of enthusiasm to deliver higher productivity Operational Effectiveness & Control • Ensure that the agreed TATs with relevant departments such as Policy Servicing are met to adhere to IRDA mandated .
- Ensure regulatory and internal business compliance guidelines in all internal processes and external dealings to protect CHOICe and Share Holder interests • Be able to identify control deficiencies and develop or revise policies and procedures to mitigate potential loss and deliver business results efficiently within approved budgets • Be able to utilize appropriate CHOICe systems to facilitate faster processing and increase productivity • Ensure controls and audit are in place as required by IRDA & Compliance • Foster a compliance culture • Act as a change agent to uncover issues and implement innovative solutions to manage risk actively Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities) • The major challenge for the jobholder will be to manage high volumes of calling while maintaining internal and regulatory TATs.
- Identifying Risks and its mitigations • Cross Functional Liasioning • Retention of lapsed cases will entail the calling team to convince the customers to reinstate their policies.
- Sudden increase in calling load due to external factors is a possibility and hence may require the team to at-times work during the weekends or late hours. Role Context (The environment and operating conditions of the role including the extent of guidance and authority)



• CHOIC is one of the largest and fastest growing insurance companies in India and pre-dominantly follows a Bancassurance business model. The Company has a strong distribution network of close to 8,000 partner bank branches and over 60 million customer base • With increased weightage of Persistency in Company’s overall KPI from FY15-16, the focus is clearly on retaining customers for longer period of time and to ensure that the policyholder avails of full benefits of the products.
- Hence, to address the concern of Surrenders a model is required is required to ensure that the department functions under a regulated environment and control process is available.
- The incumbent will act as an operations lead as well facilitating the Surrender Retention and Lapse recover process as and when required. Management of Risk (Operational Risk / FIM requirements) 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 (Compliance Policy / FIM requirements) Maintain and observe HSBC internal control standards, implement and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators. Foster a compliance culture and implement Group Compliance Policy by managing compliance risk in liaison with the Head of Group Compliance, Regional Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources are in place and training is provided, and optimizing relations with regulators. Role Dimensions (e.g. balance sheet size, lending/expenditure limits, size/volume of transactions, budget. in USD’000) • Targets & measures as planned • Expenditure limits as per defined guidelines by Finance and HR Headcount reporting to this role Direct: 3 Indirect: Total: 0 Dotted/functional reports to this role, if any (state title of the job): Knowledge &

Experience / Qualifications (For the role – not the role holder. Minimum requirements of the role.) 0 A.

Secondary

School 0 B. University (BA) or (BS) 0 C. Post Graduate (Masters) 0 A. Two years or less 0 B. Two to five years 0 C. Five to ten years 0 D. Over ten years 1. Familiarity with Insurance & Investment products and services. 2.

Experience with Process notes, PPTs and Dashboarding 3.

Experience in managing various life cycle touch point teams under customer retention such as Engagement/ Renewal/Deep Lapse/Surrender/Customer Segmentations etc. 4.

Vendor Management

Experience

📌 Deputy Manager (India)
🏢 Canara HSBC Life Insurance
📍 India