Private Wealth Manager - Axis Bank Relationship

About the Role

We are seeking a Private Wealth Manager to join Aditya Birla Capital, working closely with Axis Bank's affluent clientele including NRI, High Net Worth, and Ultra High Net Worth customers. This role demands extensive financial industry expertise and an understanding of diverse financial products.

Key Responsibilities

• Collaborate with Axis Bank Burgundy Relationship Managers to offer comprehensive products and investment solutions to HNI and Ultra HNI clients.
• Deliver expert financial, insurance, and wealth management advice to safeguard assets and grow client portfolios.
• Maintain high business quality and ensure persistence in client relationships.
• Drive increased selling points activation and promote distribution of ABSLI products through a Field Leadership team.
• Sell product mixes aligned with organizational targets for business growth and profitability.
• Identify and pursue new business avenues to deepen market penetration within assigned regions.
• Execute organizational programs to boost brand visibility and strengthen partnerships with the bank.
• Train and evaluate Relationship Managers on ABSLI products to enhance product awareness and recall.
• Ensure ethical business acquisition with zero tolerance for mis-selling.

Service and Support

• Provide comprehensive support before and after sales to bank partners and customers.
• Monitor and address customer complaints promptly to minimize grievances.
• Develop strong relationships with bank partners to become their top insurance provider.
• Demonstrate thorough knowledge of life insurance and other financial products to build credibility with Relationship Managers.
• Set and meet targets for premium collection, Relationship Manager engagement, and market share growth.
• Implement efficient customer query handling processes and ensure high persistency in client portfolios.

Partner Relationship Management

• Understand and communicate Axis Bank's product suite alongside ABSLI offerings.
• Conduct regular branch visits and engage with bank partners.
• Develop tailored strategies based on branch potential to enhance product mix and customer mindshare.
• Support branches in expanding their life insurance market share.
• Coordinate with Regional and Zonal Training teams to deliver regular product training and branding.
• Organize contests and recognition programs for bank staff to boost engagement and performance.

Business Quality and Profitability

• Achieve profitability targets by focusing on renewals, business quality, and cost management.
• Ensure renewals management and maintain persistency standards through the sales team.
• Keep business leakage under control within predefined limits.
• Monitor and optimize product mix at the circle level to meet channel targets.

Job Context and Challenges

This role operates within a bancassurance model where an insurance company distributes products through a bank’s network. Since ABSLI partnered with Axis Bank in March 2024, this position requires navigating an open architecture framework that offers customers choices from multiple insurers regulated by RBI and IRDAI, reducing mis-selling risks.

Relationships and Reporting

This position reports to the Circle Head of Axis Bank and is overseen by the Zonal Head. It represents ABSLI at designated branches, focusing on sales, new business acquisition, and relationship management.

Internally, this role collaborates frequently with branches, training teams, operations, and HR for support and execution. Externally, frequent interaction with Relationship Managers, Branch Managers, and Cluster Heads is essential for driving business growth and resolving customer concerns.