CSE – Aurangabad Full Time

Job Title

Branch Operations Executive

Function

Operations

Department

Zonal Operations

Reporting To

(Title)

Team Manager Operations & Finance

Superior’s Superior

(Title)

Zonal Manager Operations and Finance

Unit

Birla Sun Life Insurance Company Ltd

Location

Zone

Business

Life Insurance

Date

July 2012

• Job Purpose

Responsible for day to day operational, financial, commercial & administrative activities of the branch. Ensuring 100% compliance to regulatory and organizational guidelines.

• Dimensions

What are the areas (in quantitative terms) the job has an impact on?

Dimension

Remarks

Input Accuracy Target

90%

Inclusive of Medical and Non Medical cases

Petty Cash

15-25 (thousand)

Monthly

• Job Context & Major Challenges (What are the specific aspects of the job that provide a challenge to the jobholder in the context of the Unit/Zone?

Key Challenges For The Role

• Consistent delivery of 100% accuracy across wide range of activities amid rapidly changing processes, diverse organizational guidelines , adaptation to regular extended working hours, seasonal & un predictable spike in volumes with limited or no system validations.
• Maintaining confidentiality of information and documentation despite lack of infrastructure and support
• Operating multiple systems (in excess of 15) despite server band width and connectivity issues
• Handling Sales behavior effectively in order to ensure compliance to internal and external guidelines
• Principal Accountabilities

Accountability

Supporting Actions

Execute financial processes timely with 100% accuracy

• Execute the receipting, banking and reconciliation processes accurately for policy cash/Cheque/DD within timelines as per the set process.
• Detection of Fake note to avoid operational loss
• Cheque Dishonour Management.
• Safe custody of both sets of Safe and cash box Keys and one set of office keys.
• Timely reconciliation of assets of the branch.
• Ensure genuineness of petty cash spends, timely raising and recording.

Provide commercial support

• Identify local vendors and facilitate their registration as per procurement guidelines.
• Procurement of vendor bills, establishing genuineness and timely payment as per agreement.
• Encourage NEFT registrations of vendors.
• Support lease agreement registration and renewal process.
• New branch set up- coordination with various functions like IT/Infra/banking/ZOPS/DSF for smooth functions of branch.

Extend Legal , Compliance and Taxation support

• Timely remittance of professional and work contract tax.
• Represent company on behalf of compliance/HO for hearing matters in labour/consumer court.
• Timely updates to HO on receipt of any notice from Tax authorities/labour offices/employment exchange/Local municipal offices.
• Ensure statutory displays at branches.
• Ensure 100% compliance of AML guidelines, identification and reporting of suspicious & fraudulent operational and financial transactions.
• Adherence to BCP guidelines.

Handle Advisor commission process

• Timely Updation & handover of Commission chq to Advisors.
• Encourage NEFT with advisors and FLS.
• Resolve commission related queries of advisor.
• Ensure timely receipts and hand-over of TDS certificate to advisors.

Provide HR/IT/Admin support

• Manage joining and exit formalities for concerned employees at the branch, including full and final settlement process.
• Log calls in case of downtime/pursue with Corporate IT.
• Monitor and ensure housekeeping, security and dispatch services are rendered in an uninterrupted and cost effective manner.
• Handle physical resource booking like meeting rooms, projectors, etc.

Execute Underwriting and New Business processes

• Scrutinise New Business applications as per the SOPs to ensure 100% input accuracy to enhance straight through processing and issuance to submission ratio.
• Arrange speedy pick up of medical reports from medical labs and timely transmission of applications, medical reports, requirements via scanning and indexing with 100% accuracy.
• Collaborate with head office process owners/vendors to facilitate faster issuance.
• Ensure timely and accurate updation and delivery of policy documents/refund cheques in adherence to set standards.

Provide prompt, accurate and courteous Customer Service

• Ensure 1 st contact resolution at the branch for all internal & external customers’ & track requests through prescribed systems ensuring 100% accuracy and timely closure.
• Scrutinise claims documentation as per set guidelines and coordination with sales force and claimant for speedy fulfilment of claim requirements.
• Ensure 100% accurate and timely scrutiny & processing of reinstatement, fund switch, financial payout requests & other customer requests on the same day to avoid Gain/Loss. Customer identity & signature to be verified to establish genuineness of the transaction.
• Proactively participate in data cleansing exercise for both internal & external customers in respect of Bank details, PAN card Information, contact details & undelivered communications, .

Contribute to Revenue Generation & conservation at every single opportunity & instance.

• Encourage NEFT enrolment for internal & external customers
• Participating in Persistency drive by sharing data with sales force & contacting customers for the allocated data base.
• Encourage use of self help tools like Go Green, ECS activation, alternate payment options by customers.
• Enhance contactability of the customers by collecting contact details.
• Participate in cost savings initiatives.
• Actively endeavour towards containing Freelook/ Surrender / withdrawal at branches by convincing customers.
• Actively engage with visiting customers to enhance revenue generation for the business by way of promoting Riders & top up adding to incremental premium on the existing policies for the Co.
• Intimate & pursue cheque dishonour cases with the respective sales team members / customer both at new business & renewal stage & strive for repayment to conserve the revenue.
• Identify & report fraudulent claims by providing proof / information to Claims team and get involved with the investigation as much required and sought.
• Prevent Fraudulent / Fake Policies from issuance by Branches by controlling the document verification and reporting to Compliance & UW
• Save cost (on controllable expenses) at Branches on Electricity, Stationery, Photocopying, Staff Welfare, Other Miscellaneous Expenses etc

Execute

Advisor Licensing process & extend Sales Support

• First time right application processing for New advisor and license renewal
• Support BM on Recruitment plan is executed properly and the candidates are nominated for Pre Licensed training
• Prepare & distribute sales management MIS including data maintenance from Receipt Writer and Sales Portal to the concerned.
• Coordinating for execution of reward & recognition programs for sales force through MIS & communications to branch sales force as required by the Branch Head.
• Assist Branch Head to follow up for New Business Application requirements with the sales force of the branch
• Control Pool laptops for agency managers
• Managing sales promotion material & activities at the branch level including stock management.
• Inventory Management of marketing collateral
• Assist HO in fraud and compliance investigation pertaining to FLS and advisors
• Assist Branch Head to follow up for New Agent licensing requirements at new business and renewal stage with the sales force of the branch
• Coordinate FLS coding and FLS tagging with HO
• Coordinate for advisor / FLS Reward and Recognitions and for domestic & overseas sales conference with HO
• Contact updation in BSLI online of Advisors and FLS
• Contactability enhancement at NB stage,post welcome call followed by CRT.
• Preparation of Various MIS related to BSLI Way and updation of Various Dash Boards.
• Coordination with various institutes, approved by Training Head, for the training of new Insurance Applicant.
• Re exam scheduling of failed candidates in coordination with BH/AMs
• Coordination with RHR for offer letter generation for FLS
• Arrangement of Various training programmes in Branches coordinating with Training manager and BM/BH.
• Downloading various process to Sales team during morning huddle (BSLI Way).
• Ensure timely opening and closing of office premises
• Job Purpose of Direct Reports

NA

• Relationships (If Applicable)

Internal Frequency Nature

Zonal & Head Office Operations & Finance, HR, Infra and procurement, Admin , Sales, Legal and Compliance, IT

Frequency: Regular

Nature: To coordinate for all branch operational and accounting deliverables.

External Frequency Nature

Customers

Vendors

Banks

Advisors

Frequency: Transaction Based

Transaction Based / Need based

Need Based

Regular

Nature: To carry out receipting, service customer requests, respond to queries and complaints, convince for retention of business in case of surrender / withdrawal / freelook requests, upsell riders & top ups with visiting customers.

Ensuring vendor deliver as per the SLA

Deposits and follow ups on payment.

Commission Pay Outs, Requirement follow up, process downloads, etc.

• Organizational Relationships (Separate Annexure to be attached)

Head HR & Admin

Chief Mgr – HR

Perf, Comp & Ben.

SIGN-OFF

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Date

Job Analyst

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