FINANCIAL
PRODUCTS
GROUP 7
Priyanka Satija | Sowmya Suresh | Kuber Manhas |
Niyati Satoskar | Shubham Mishra | Shreya Naithani
SALES MANAGEMENT - SECTION A
1
INDUSTRY OVERVIEW
2
PRODUCT OFFERINGS
SEGMENTS TYPES OF PRODUCTS
Retail Wholesale Fund Based Non Fund Based
Product Offerings to the Corporate Sector:
SERVICES PROVIDED BY BANK
Transaction Banking Global Markets
Entity Incorporation Licenses & Registration
Advisory & Consulting Customized Banking Solutions Financial Institution &
Capital Markets & Project Finance
Custodial Services
3
MARKETING ORGANISATION
Lead Generation Awareness
Events
Email Marketing
Corporate
Cold Calling
Conferences
3rd Party Agents
Print Media
LinkedIn
Social Media
4
SALES ORGANISATION
Wholesale Banking Group
Capital
Global Services Large
MNCs PSUs Markets &
Clients Sector Clients
Custody
Client Specific
National Head - LCG
Zonal Head - North Zonal Head - East Zonal Head - West Zonal Head - South
Regional Head
Relationship Manager
Hybrid Structure: Customer
Specialised and Geographical sales force Assoc. Relationship
Manager Geographic
5
METHODOLOGY OF RESEARCH
How did we obtain the data?
Telephonic interview and Secondary
research
Business Manager Relationship Manager
Interviews with:
Branch Manager (Retail)
Relationship Manager (Both Retail and
corporate)
Business Manager (Corporate)
HR manager
HR Manager
Branch Manager
Secondary research data from the official
website
6
SALES MANAGER FUNCTIONS
Relationship Manager Regional Sales Manager
Zonal Manager
- Responsible for business - Focus on expansion and
-Recruitment of new channel performance of the defined acquisition of customers within the
partners, and agents region assigned zones
-Increase business volume, - Monitor territory sales target - Provide leadership direction to the
market share and penetration and track market trends, sales team
by acquiring new customers profitability
- Liaise with Regional managers to
- Maintain sound relationships - Explore new products, ideas, generate leads and increase sales
with existing customers and provide constant feedback on
retain them product performance - Track and report Zone
performance in terms of targeted
- Coordinate with the respective - Report the views of advisors revenues and business volume
stakeholders for product deals and consumers to the corporate
office - Train and monitor sales and
relationship managers
7
SALES JOURNEY
Prospecting Pre-Approach Needs Presentation Closing Sale Follow-ups
Identification
Internal Marketing Mapping Budget Cross-sell product & Internal
Specialised Pitchbook services Specialised
Division Customer Mapping Authority Division
Onboarding
Existing Accounts Competitor Mapping Need Process
Listen to client
requirements
Follow ups Timeline Project Report
Approach
Present Demos, if
CRM required Technical &
Promotor Economic
Email Prospecting Viability Report
Wealth Introducing
Management Third Party Provisional
New Leads Channels Sanction Letter
Private & Gov.
portals
Final Documentation
Third Party
Vendors
Referrals
8
CHANNEL STRUCTURE
● Legal services
● Tax Expert
01 Outsourcing
Services
●
●
ITO
BPO
● Fully-fledged Product Outsourcing
● Two-way business
02
Trusteeship ● We provide them with leads
Company ● They give us business
● Maintain records of investors & account
03
Registrar & Transfer balances
Agents (RTAs) ● Handling mutual funds & buying & Selling
shares
● Online marketplace catering exclusively to
SMEs
04 Cross Channel Marketing
Platform (SME Empower)
● Security of transactions on the SME
Empower platform are done through an
integrated ICICI Bank payment gateway
9
RECRUITING AND SELECTION PROCESS
Application Personality Profiler Interview Joining
Shortlisting Documentation Offer
ICICI Bank has been making good use of technology and has leveraged the same in their recruitment
process. Interviews can be given from the comfort of the applicant’s home with an internet connection
and a webcam through I-Studio, a video based platform developed internally by ICICI Bank.
10
TRAINING OF A SALESPERSON
Recruit Training
ICICI Bank hires young graduates for their sales ● Pedagogies: Classroom training, case studies, role
departments who join its dynamic front line Sales
Force. plays, e-learning, gaming modules & tablet
The selected applicants receive training at ICICI Sales
applications
Academy (ISA).
● Scope and Coverage: Selling skills, knowledge of
The programme is structured as follows: different banking deposit, systems, customer
service, banking regulations, basic grooming and
➢ Term 1 (15 days) - Classroom training at ICICI
knowledge of the English language
Sales Academy
● Graduation: On successful completion of the
➢ Term 2 (15 days) - Internship at ICICI Bank
programme, the students are absorbed in ICICI bank
The applicants have to pay the sales academy some
amount of fees along with applicable GST. The at Officer grade
mentioned training fee is towards the training expense ● Stipend: A monthly stipend is paid to the students
which would include lodging, boarding, food and
training expenses for the 15 days of classroom training. during the internship
11
QUOTAS & TARGET SETTING
Types of Target How are targets set?
Acquisition of new
Increase the current book ➢RETAIL BANKING
accounts
○ Includes both acquisition of new
● Easy to set target for ● Par for the course in clients as well as deepening our
retail banking, but not wholesale banking; share of their finances.
so boilerplate when it as there are lesser
comes to wholesale clients the more you ○ Frontline sales targets - based on
banking. enter higher circles. top down targets adjusted for
● Focus is on finding and ● Focus is on cross-
historical performance and
bringing new clients selling and increasing
the size of overall negotiations.
into your ecosystem.
transactions with
existing clientele. ➢WHOLESALE BANKING
○ Annual targets based on - clients
handled, income potential of each
client and the market potential.
Greatest Challenge
Clients don’t want to put all their eggs in one ○ This is impacted by the market
basket, they want to spread their financial research skills of the Associate
products’ liabilities across different providers.
Relationship Manager.
12
EVALUATION & COMPENSATION
Quantitative Qualitative
● Productivity Analysis: ● Behavioral and Soft Skills:
Productivity = Income generated / Unit cost ● Scoring Breakup:
● Time in Motion Study: Factor Weightage
Take all the responsibilities of a person, split
into short, component tasks and the see how Business Growth 35-40%
much time is spent at each, then take a
median. See how much a particular New Initiatives 20%
employees’ time deviates from this median.
New Learnings 10%
Compensation
Based on the above evaluation, three types of ratings are
given: 1- B1 2- B2 3- B3
Combined with Current Grading
This decides the scale of Performance Bonus
13
MAJOR ACCOUNTS
14
SALES SUPPORT
Sales Team
PITCHBOOK LEARNING MATRIX WOMEN SUPPORT UOTM & RM WORKBENCH
For Customers
KHAYAAL AAPKA InstaBIZ iXPRESS CONNECT Annual
PHILOSOPHY Maintenance contract
15
SALES AUTOMATION TOOL
How SIEBEL benefited the ICICI bank?
● First bank to deploy
ICICI revamped business software robotics.
strategies with unified ● RPA bought from
CRM allows for more OpenSpan.
banking CRM platform –
CRM Next
efficient communication ● Massive reduction in
customer response time
Help personalize customer relationships, Using a Customer centric business
360 degree customer view, profile model, CRM tool help anticipate the
capturing needs of customer
CRM enable banks to deliver the digital Can make marketing efforts more
first banking experience effective
16
COVID19 IMPACT
Easy Transition to virtual
Increase in sales efforts during
Increase in Reporting setup due to efficient BCP
virtual meetings
Team
Online Trainings and courses to enhance skills and knowledge regarding new
products
Market Research to identify Attention to clients from identified
profitable sectors sectors
Due to larger amount involved, clients are not
comfortable with digital interaction
17
18
SALES ORGANISATION
Wholesale Banking Group
Large Global Services
Clients Clients Sector MNCs
Group Group Group
Client Specific
Business/S Support Product Operations
ales Team
This is how every client segment is divided functionally and every sales team
works in collaboration with the Support, Product and Operations team
Please note: Based on the question after presentation, this section has been added
APPENDIX
Transcript 1: Interview With Sourajeet Kar - Business Manager, ICICI Bank (https://www.linkedin.com/in/sourajeetkar/)
What is the Sales Organisation of ICICI Corporate Banking
ICICI divided into Divided into Retail bank--for individuals & small business and corporate bank(Wholesale banking) for catering to large,
medium and small corporates
About the structure of Corporate Banking:
• At the core is Big Circle which is wholesale banking. Within big circle is Large client group- which caters to large clients as segment.
• Within large client group is capital market(brokers, private equity funds ).Within capital market is custodary group.
• Custodial is a product- large funds, like mutual funds. Custodial group take care of all the client which caters to private equity, venture
capital funds, mutual funds, PMS -Portfolio Management services, AIF - Alternative investment Fund, SPI etc
• 3 bifurcation within custodial group : Domestic, foreign and institution
✔ Domestic - AIF, PMS, Family offices, Private Equity
✔ Institution - Mutual fund companies, Insurance companies
✔ Foreign : SPI, FDI, DR(Depository receipt)
• Four main pillars of bank : business team, product team, operations team and support team
✔ Business Team : Sales
✔ Product Team : Designs the product and take ownership, innovate the product
✔ Operations Team : Take care of the backend functioning.
✔ Support group: Treasury, credit risks. Support the business and operations team
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APPENDIX
Transcript 1: Interview With Sourajeet Kar - Business Manager, ICICI Bank
What is the channel structure/3rd party involvement in ICICI bank Corporate Banking
• Trusteeship company : It is a two way business. We also provide them with leads and they also provide us with business .
• RTA company: eg Sundaram. AIF are purchased by investors whose ticket size is 1 cr. So they themselves will not go to give the
cheque. Collection of cheque etc. done by small companies called RTA. We introduce RTA to other funds. So give and take kind of
thing. Benefit to both.
What are quotas/targets set?
• Target to increase market share by 25 percent in next 3 yrs which is quite steep
• Talk in terms of market share
What kind of sales support is provided to sales team ?
• Pitch book given to sales team. Pitch books define who we are, what we do. What are our offerings?
• Also Universal app and Learning matrix helps to provide support
What are the sales automation tool used ?
• CRM tools mainly used in Retail
• For corporate it is the existing relationship with the bank that matters the most.
• Can refer a corporate client to a retail guy because of the tool. Because of CRM tool can see salary , no of accounts, purchasing
pattern, no of credit cards and its usage
21
APPENDIX
Transcript 1: Interview With Sourajeet Kar - Business Manager, ICICI Bank
Could you please explain the Sales Journey (From prospect to lead conversion)
• Different channels through which ICICI promote the products like internet and mobile banking. Imobile - app that customize basis AI
Basis on spending pattern, app will tell you this is the ICICI product you should have.
• Steps For Corporate/wholesale banking :
✔ Introduce the specialised division
✔ Discuss proposals, give presentations using pitch book. Explain different product offering and service which we provide.
✔ Client gets back with their requirement. For eg In AIF one of the important requirements is fund accounting .
✔ Organise for demos with fund accounting teams
✔ Customers back to us
✔ Decide tariffs we propose, basis that onboarding process.
✔ Onboarding process comprises documentation and getting everything in order
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APPENDIX
Transcript 2: Interview With Surya Vivek Yagnamurthi (Kotak Bank )(https://www.linkedin.com/in/surya-vivek-yagnamurthi-178ba4120/)
What is the Sales Organisation of ICICI Corporate Banking
At the direct customer level, there are product specialists and clients specialist with the product specialists there for any product related
help that is required by the client
The sales organization is divided on a geographic basis with each geography having a product specialist.
The hierarchy from top to bottom is:
Team Head(Territory Wise) Area Sales Manager Regional Sales Manager(Multiple) Zonal Manager(4) National Head(Business Head)
Is their 3rd party involvement in the channel ICICI
•There is 3rd party involvement and here the use of third party consultants is made.
•These 3rd party consultants have a large pool of clients who need loans. They are the ones who get the bank in touch with the said group
of clients
What are quotas/targets set?
•The targets are set by the level of exposure the client has in the company, here exposure is the total amount of business that a client has
across divisions on a whole with the bank.
•These are targets are generally set for 6 months for the B2B selling
During covid times, these targets have become half of what they would be in normal times.
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APPENDIX
Transcript 2: Interview With Surya Vivek Yagnamurthi
Could you please explain the Sales Journey (From prospect to lead conversion)
•Government or private portals where financials of companies are publicly available are checked and on the basis of a criteria the list is
whittled down to prospects who should be pursued. Cold calls are then made to companies.
•The sales journey is longer de to their being a credit team and sales team with the credit team vetting the client sales team bring.
•The aim here is to get in touch with a promoter(Major Decision makers like MD for example).
•Another way to check for prospects is through collaboration with other department where one department provides the other department
with details of a client they feel is worth pursuing. They also share the contact details of the client and any promoter as well.
•6 to 7 months after the client has been acquired they are passed over to account managers.
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APPENDIX
Transcript 3: Interview With Saaniya Aurangabadkar (Summer Intern, ICICI Bank)
Wholesale Banking
✔Products to big corporates and businesses (Turnover >250 cr)
✔Structure – divided into 12 parts depending upon type of client
o MNC clients
o Corporate clients (TO 250-500 crs)
o Large clients , LCG (500 – 650 crs) Tata, Birla, Reliance, Adani
o Global Clients (Parent is outside India, subs here)
o E-commerce, IT forms, nbfcs
Explanation loans are an asset for bank; what is liability income (income from fee-related services)
•There is difference in consideration offered while extending loans – trouble in document travel etc
•Credit worthiness is checked before extending
•Loans are our risky products, so while doing this bank cross-sells other less risky/zero risk products such as FDs, insurance
✔Especially COVID scenario, focu is more on liability income generating products. Less loaning out, more of selling FDs and insurance –
✔THIS IS GOOD NOW because e-commerce companies have a lot of idle cash they want to invest
✔Easier to give loans to banks. Also LOAN GUARANTEE FEES – liability income avenue FROM banks
✔Entities with account Have extra services such as share brokerage and commission, market advisory fees
✔Wholesales – bill of reading, shipment bill, pre shipment post shipment, loans, FDs, guarantees, advisories, syndication (1700)
•Two types of products every bank deals in –
✔Fund based – Cash credit, Overdraft, Bill discounting, LC BD, receivable discounting, export company – export processing products, pre
shipment, post shipment finance, loans in foreign currency non resident loan
✔Non-Fund based – Bank guarantee, letter of credit.
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APPENDIX
Transcript 3: Interview With Saaniya Aurangabadkar (Summer Intern, ICICI Bank)
Evaluation of employee performance
•What is productivity analysis? It is Employee performance measurement.
✔Prod. Analysis: Productivity = Income generated / Unit cost
✔Time in Motion study: Take all the responsibilities of a person, split into short, component tasks and the see how much time
is spent at each, then take a median. See how much this deviates from the median.
✔RM Workbench, released in March 2020 [https://appadvice.com/app/rm-workbench/1234508333] – portal where employees
put customer data, meeting briefs - AUTOMATION of PROCESSES – They checked the adoption rate and time spent on
app by employees to see if it was a successful and impactful initiative - THIS WAS A UNIQUE STEP NOT TAKEN BY MOST
COMPANIES (Needs verification, seems biased)
•Training to employees – COVID Lockdown – trainings and courses on l&d, knowledge of some new products – online courses and video
meetings – internal instructors – everything was sponsored by company
•This is because Depth of knowledge is important during virtual meetings, have to make up for the lack of soft contact
•Recruitment – Not much, anecdotal re. internship placement – not very technical interview, look for willingness to learn
COVID impact on day - to – day life – More reporting, everyday every evening. Transition was easier because business continuity
planning (BCP) as strong – provided hardware and connectivity support.
26
APPENDIX
Transcript 3: Interview With Saaniya Aurangabadkar (Summer Intern, ICICI Bank)
How are targets set ?
•Easy to set for retail – standardised products to standard ppl – easy and more scope of clients
•Wholesale – less scope for new clients – focus is on cross-selling and increasing the size of overall transactions with them
This is impacted by the market research of the sales guy (ARM) – find new activities and actions undertaken by the business and then
slide into their DMs, show them what you have that could help them in their new task
But companies don’t want to put all their eggs in one basket, want to spread their financial products across different providers – this is the
challenge
Sales support
•ICICI has a support system for women who travel for work
Hierarchy
Wholesale – Associate relationship manager -> RM -> Zonal Head -> Business head
27
APPENDIX
Transcript 4: Interview With (Nidhi Malik, Deputy Branch Manager, ICICI Bank) https://www.linkedin.com/in/nidhi-malik-8874ab3b/
Could you please tell us about the sales organisation structure?
At entry level there is a Associate Relationship Manager who reports to Relationship manager. The RM reports to Regional sales head
who then reports to the zonal head. The Zonal head finally reports to the National Head of Wholesale banking group. We hire good
quality managers from b-school for Relationship manager post.
How is the hiring performed? Is there any criteria?
We do not hire freshers for the post of Relationship manager. We value previous work experience for our roles.
How is the sales journey?
As per every department or client segment there is a PPT. Whenever we approach a client, we make the PPT as per the client company
and show it with benefits, services etc.
How are the targets defined for the sales manager?
Targets are assigned as per the role and area the sales manager is in. For example: per month, one relationship /new client. The client
target varies as per the grade and seniority of the sales manager. It is generally in terms of new acquisition or increase book size. In
comparison with retail banking, the wholesale banking has a larger amount target set.
28
APPENDIX
Transcript 4: Interview With (Nidhi Malik, Deputy Branch Manager, ICICI Bank)
How are these sales managers evaluated?
Each sales manager is evaluated as per KPI which is tracked under Business scorecard
For eg: % of Profitability on portfolio, growth of the book size as per the target, No. of accounts, Product offerings, etc. This helps to
make a scorecard which also contains ratings based upon the score and the promotion criteria. The compensation or Year end Bonus is
based on these ratings in scorecard.
Could you please tell us about the sales support provided to them?
Yes, we provide pitch book as per the client segment the salesperson is a part of because each pitchbook will be different as per the
product offering.As for ease everyone is provided with CRM tools
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REFERENCES
▪ https://www.ibef.org/industry/banking-india/infographic
▪ https://www.icicibank.com/managed-assets/docs/investor/investor-presentations/2020/icici-stack.pdf
▪ https://www.icicibank.com/aboutus/annual.page?#toptitle
▪ https://www.icicicareers.com/website/Jobs/Hot-Jobs/1720909.html
▪ https://www.icicicareers.com/website/Jobs/Hot-Jobs/1721244.html
▪ https://www.proschoolonline.com/blog/social-media-strategy-review-icici-bank
▪ https://www.icicibank.com/aboutus/article.page?identifier=news-icici-bank-launches-novel-women-centric-initiatives-on-i
nternational-womens-day-20160803114005841
▪ https://www.icicibank.com/managed-assets/docs/investor/investor-presentations/2017/20
▪ https://www.salesforce.com/solutions/industries/financial-services/resources/banking-crm/
▪ https://www.icicibank.com/corporate/product-index.page?
▪ https://www.icicibank.com/managed-assets/docs/investor/annual-reports/2020/ICICI-Bank-Annual-Report-FY2020.pdf
▪ https://paralleldesk.com/job-details/icici-bank-assistant-relationship-manager-corporate-banking-group-ylt0
▪ https://www.icicibank.com/aboutus/article.page?identifier=news-icici-bank-launches-novel-women-centric-initiatives-on-i
nternational-womens-day-20160803114005841
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THANK YOU
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