The purpose of this job is to deliver on area/ local strategy for the Unsecured Business segment in terms of target segments, strengthening existing relationships and setting up new channels for market penetration, and work towards achievement of sales targets and operational plans. To proactively address customer/ DSA issues and escalate cases (e.g. fraud alerts, customer complaints or exception handling) as required for smooth operations; work on removal of bottlenecks for the achievement of targets for Unsecured Business segment at the area/ local level. To grow the penetration of the business by actively partnering, negotiating and building relationships with the DSA network. To take ownership for end to end Unsecured business transactions in assigned area of coverage ensuring efficient internal operations
To execute superior product delivery and ensure credit quality of new acquisitions with compliant sales operations & coordination with Risk team
Job Context
Key Aspects:
The Unsecured Business segment products line caters to funding short term and medium term working capital needs of Small Businesses and individuals, via a suite of customized short and long tenured products, without any security/ collateral.
Offerings comprise unsecured loans to salaried individuals/ self-employed individuals/ non-individual entities, with end use of funds (Medical emergency, Marriage, working capital requirement, business expansion etc.) to be ascertained during the loan appraisal process
The business is highly retail in nature, characterized by high transaction volumes, smaller ticket sizes, and significantly higher spread and profit margins (up to four times that of Secured Lending products)
Given the unsecured nature of loans disbursed, the business also entails stringent controls and monitoring to ensure portfolio health and quality at all times
While unit of sizing up the business is its loan book size, profitability and minimized delinquency are key business objectives.
Lending in the Unsecured segment takes 2 forms – Personal Loans and Business Loans, both of which leverage the ABG ecosystem and channel partners for the major share of business.
Higher cost of funding impacts profitability as well as competitiveness of loan rates that can be offered to customers
Understanding of product market characteristics such as channel relationship management, region specific occupations/trade, local financial preferences and practices are important to gain competitive advantage while structuring loans and identifying leads.
The Sales Manager-Unsecured Business is responsible for operationalizing business transactions and liaises with DSAs and/ or end customers in his/her zone to maximize disbursals, profit, growth & customer service objectives.
Key Challenges
To deliver on operational plan in the assigned coverage area in a differentiated manner considering local factors, channel dynamics and consumer preferences, that can withstand competitive pressures on the ground
To meet business volume/ value targets while keeping abreast with and overcoming competitor product offerings and customer schemes
To increase market share in assigned coverage area against stiff competition, overcoming competitive pressures borne out of better established networks, price undercutting, etc.
To establish a strong local network and leverage the same to generate business leads, and also identify opportunities for cross sell with existing customers
To proactively build new and nurture existing DSA relationships keeping in mind immediate and longer term business interests, and considering the phased manner of team size expansion
To constantly upgrade financial & operational know how on efficient loan processing, effective negotiation and relationship building for maintaining credibility with DSA network and profitable target achievement
To keep abreast with the latest market trends and local market preferences and needs
To ensure loan conversion/ sanction/ utilization percentages are high and a broad enough sourcing funnel is built to meet targets
To ensure credit quality and effective portfolio selection/pre screening thereby minimizing potential NPAs
To ensure compliant sales operations despite sales pressures and market cycles
Enabling Skill Sets & Qualifications
Critical skill sets required to meet these challenges include execution excellence, business & commercial acumen, sound product understanding, strong communication and influencing skills.
Education & experience required to fulfill this profile are a postgraduate with minimum 4-6 yrs of total sales experience/ graduate with minimum 6 - 8 yrs of total sales experience of which at least recent 2-3 yrs experience should be in Small Ticket Secured lending.
KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)KRA1Sales Growth & Client AcquisitionIdentify and execute sales growth opportunities at a local/ area level, driving channel expansion and new account acquisition
Deliver on sales targets by building strong relationships in the DSA network and influencing DSA outcomes
Segment the market and identify potential direct clients, approach them and generate business through customized loan structure offerings that meet client requirements and also generate good margins for business
Carry out regular meetings and sales calls with prospective clients on a regular basis to source businessKRA2Sales Growth & Client AcquisitionAugment the sales volumes of Small Ticket Secured lending, manage channel databases and tap them tactically to ensure healthy sales pipeline
Drive faster TATs through effective loan sanctioning by building strong relationships with internal stakeholders in order to expand channel presence and customer base
Track and report on sales operations and productivity metrics, and work towards building a high-performance sales culture
Actively participate in initiatives and contests driven by Business Development teamsKRA3Operational EffectivenessWork with dual focus on sales volume and value (IRR)
Track & ensure SLA adherence, sales efficiencies and RoI
Adopt prescribed improvements in processes and best practices in order to enhance operational productivity and suggest improvements as wellKRA4Operational EffectivenessAnalyze and communicate operational information periodically as per agreed timelines and MIS formats for disbursements, profits, NPAs, channel expansion, new product launches, new branches, new channel development, etc. and communicate to ZSM/ ASM as well as down the line