Vice President - Strategic Initiatives

A. Position Overview

Position Title

Vice President - Strategy

Department

Strategy

Level/ Band

Vice President 1

B. Role Summary

The Vice President - Strategy will play a pivotal role in formulating and executing the company s strategic goals. The role requires a high level of analytical rigor, market insight and cross-functional collaboration to ensure the company achieves its long-term objectives in a competitive insurance market. The candidate will also be instrumental in identifying growth opportunities, enhancing profitability and driving organizational alignment.

C. Organizational Relationships

Reports To

Executive Vice President - Strategy, Alliances and Chief of Staff

Supervises

1 AVP, 1 SM & 1 Manager

D. Job Dimensions

Internal Stakeholders

1) MD & CEO

2) ManCom members

3) Shareholders (Tata Sons and AIA)

4) Functional Heads

External

Consultants, IRDAI, Life Council

E. Key Result Areas (Roles & Responsibilities)

Market and Competitive Analysis

+ Conduct in-depth research and analysis of market trends, customer behaviour, and competitor strategies to identify opportunities and threats.

+ Provide actionable insights to improve the company s market positioning

Business growth expansion (Organic and Inorganic)

+ Identify and evaluate new business opportunities, partnerships and product offering to drive growth

+ Develop and present business cases for diversification or investment initiatives

Stakeholder Management

+ Work closely with cross-functional teams (e.g. Distribution, Marketing, Products, Finance and Actuarial) to ensure alignment on strategic priorities.

+ Collaborate with the stakeholders on strategic discussions and decision making

Performance Monitoring and Reporting

+ Design and monitor key performance indicators (KPIs) to measure the effectiveness of strategic initiatives

+ Ensure timely and accurate reporting of strategic outcomes to executive leadership and course correction

Innovation and Digital Transformation

+ Drive innovation by leveraging technology and digital solutions to enhance customer experience and operational efficiency

+ Stay abreast of emerging technologies and trends in the insurance and financial services industries

Agile response to external changes (regulatory / market)

+ Keep abreast about market and regulatory environment

+ End-to-end strategic planning for upcoming opportunities right from detailed evaluation, business cases to action planning and overseeing implementation

+ Detailed impact analysis of various risks and develop mitigation strategies to address identified risks

Support new partner acquisition

+ Provide strategic inputs and support on business cases to the Alliance team for tie-ups with banks and credit life partners

Ad hoc projects / initiatives

+ Create reserve bandwidth for unforeseen / ad hoc initiatives / projects

Skills Required

Technical

Strong business understanding of consumer segments / propositions, distribution dynamics, strong analytical capabilities, project management, etc.

Behavioral

Essential

Desired

Interpersonal skills

P

Communication skills

P

Creative thinking skills

P

Supervising/Leadership skills

P

Teamwork Skills

P

Influencing skills

P

Relationship Building skills

P

Decision making skills

P

Incumbent Characteristics

Essential

Desired

Qualification

Postgraduate

MBA

Experience

12-15 years (Minimum)