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Assistant General Manager (Sales & Marketing)

Employer
LIC Pension Fund Ltd.
Location
Mumbai
Salary
Equivalent of Scale II in PSU Banks
Closing date
Jul 28, 2024

View more

Job Function
Credit Analysis
Industry Sector
Asset Management
Employment Type
Full Time

About LIC PFL

LIC PFL is a Pension Fund Manager (PFM) appointed by Pension Fund Regulatory and Development Authority (PFRDA) in 2017 under NPS to manage pension contributions of Government & Private Sector employees

As on 31-Mar-2023, LIC PFL’s assets under management (AUM) were Rs 253,250 Crores, a 28% share in addressable market. LIC PFL has been achieving year-on-year growth of about 25% in the AUM

LIC PFL’s business is competitive while being tightly regulated; therefore, LIC PFL has taken a lead to devise employee-friendly and performance-enabling HR Policies and is keen to hire and retain performing  professionals to avail business growth and offer career growth

Purpose of the Role

  • Influence Corporate Clients (directly or through POPs) to pick LIC PFL as their PFM
  • Increase market share of LIC PFL in Corporate CG Scheme and in All Citizens Scheme (to increase subscribers base) of NPS System
  • Influence LIC’s Associate and Subsidiary Companies to join NPS System and empanel LIC PFL as their PFM
  • Build a blueprint or a road map along with mechanisms for gathering market intelligence to achieve above targets (market share; AUM; share-of-wallet etc)
  • Establish a digital Marketing outreach to Corporate and retail NPS Subscribers 
  • Establish corporate communications function and manage all media interfaces
  • In addition, role holder shall take up responsibilities as directed by MD & CEO

Demographic Profile of Candidate

  • Age profile (years): 35 to 45
  • Gender Preference: Equal opportunity
  • Language: Read, Write, Speak in English and Hindi

Qualification profile

  • Graduation: Any Graduate
  • Post-Graduation: MBA (Sales & Marketing); CFA will be an added advantage

Profile of prior experience

  • Overall Min: 10 years 

Relevant experience definition

  • should have acquired new corporate or institutional Clients (for financial products &
    services)
  • should have improved share-of-wallet from existing corporate Clients
  • should have (preferably) established a distribution channel for reaching out to retail Clients

Relevant prior Role experience profile (years) as Functional Head

  • Min 2 years

Source-map sectors

  • investment banks selling treasury services
  • banks selling cash management services selling CASA; life insurance; MF products;
  • wealth management services;
  • selling annuities; (*) bancassurance channel (for POP)

Source-map roles

  • Client acquisition, B2B; distribution of financial products, B2C (on a later date); roles for generating fee income and deposits

Compensation payable

  • Annual fixed compensation is Rs 19.53 Lakhs. Together with variable compensation (best individual performance against agreed KPIs PLUS Company performance), maximum annual compensation Professional can potentially earn is Rs 28.20 Lakhs.
  • Benefits extra as per LIC PFL’s HR Policies.
  • In addition, reimbursement of petrol expenses upto 200 liters per month

 

Competency Profile of Candidate

Functional Competencies

  • B2B sales process; Client acquisition
  • Setting up a B2C distribution (for setting up POP channel)
  • Research skills for mapping market opportunities
  • Business intelligence about competitor’s performance and weaknesses
  • Domain knowledge; asset classes; associated risks & opportunities; returns; competitor  performance; regulator PFRDA and its directives for wealth management
  • Digital Marketing

Behavioral Competencies

  • Skills in building relationships
  • Persuasion in winning over new Clients; influencing skills
  • Presentation and communication skills [for engaging with CEOs, CFOs, CHROs of corporations and Government Authorities like regulators, PSUs etc]
  • Ambitious and target-oriented

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