Applications are invited from eligible Indian Citizens with a flair for marketing for engagement as Senior Marketing Executives on contract basis for a period of three years in one of the following areas:
The number of positions of Senior Marketing Executives shall be 100 (one hundred only).
Apportionment of vacancies for candidates belonging to Scheduled Castes, Scheduled Tribes and Other Backward Classes shall be as under:
Reservation for Persons with Disabilities shall be 3%. Only the Orthopaedically Handicapped and Visually Impaired candidates are eligible to apply.
Further, in respect of Visually Impaired category, persons with Category I impairment (40-74%) only need apply. Reservation for Persons with Disabilities shall be on horizontal basis.
Reservation for Ex-Servicemen, Emergency Commissioned Officers/Short Service Retrenched Commissioned Officers shall be provided as per Government Rules.
The total number of engagements, Including the engagements for the reserved categories, may increase or decrease, depending upon the actual need of the Corporation at the time of final selection and availability of successful candidates after the Group Discussion/ Interview/or written test, if need arise.
| Age | Minimum Age for engaging shall be 24 (completed) years and Maximum Age shall be 40 years as on 1st August, 2009. |
| Age Relaxation | Relaxations in upper age limit for different categories shall be as under:
| SC/ST | 5 Years |
| OBC | 3 Years |
| PH (Gen) | 10 Years |
| PH (SC/ST) | 15 Years |
| PH (OBC) | 13 Years |
| ECO / SSRCO / XSM (GEN) | 5 Years |
| ECO / SSRCO / XSM (SC/ST) | 10 Years |
| ECO / SSRCO / XSM (OBC) | 8 Years |
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| Educational Qualifications | Graduate/Postgraduate in any discipline from a recognized University as on 1.8.2009. Preference will be given to candidates having professional qualification like Certified Financial Analyst/Company Secretary/Fellow of Indian Institute of Risk Management/Master of Business Administration from a recognized University/Bachelors or Diploma Holders in Marketing Management. Knowledge in computers is essential. |
| Experience | Candidates should have a marketing experience of at least three years with proven track record in similar position in Financial Services or Fast Moving Consumer Goods Segment, Pharmaceuticals or in the Services Sector. |
| Place of Engagement | Place of engagement will be informed at the time of selection. To the extent possible, preferences given by the candidate will be considered. |
| Period of Contractual Engagement | The assignment shall be full time, for a period of three years purely on contractual basis. The services of selected candidates should be available full time and should not have any other work related engagements with any other organization. The contract may be further renewed for a period of three years thereafter depending upon the performance, suitability of the person during the contractual period and the needs of the Corporation. In no case the contractual engagement shall be for more than three terms (including the initial term of Engagement). However, in no case the engagement shall be extended beyond age 60. Performance criteria shall be fixed by the Corporation from time to time and performance of the person shall be reviewed periodically to decide termination/continuation and/or extension of contractual engagement. |
| Termination of Contract | The contractual engagement can be terminated by either party by giving 30 days' notice in writing or remuneration in lieu thereof without assigning any reasons whatsoever. |
| Job Profile | The contractual engagement shall be purely a marketing assignment and the person shall be responsible for development of business of the channel in which he/she is engaged. Engagement may be to any of the existing alternate channels (P&GS / CLIA / B & AC / Direct Marketing) or to any new alternate channel which may be introduced in future. Senior Marketing Executives engaged in Pension & Group Schemes (P&GS) shall be responsible for the growth of new business under various P&GS schemes and achieve business goals as agreed from time to time. Senior Marketing Executives engaged in Bancassurance & Alternate Channels (B & AC) shall
- Prepare map of existing/proposed channel partners,
- Have close liaison with existing channel partners for planning, marketing, review, etc,
- Acquire new channel partners especially on referral basis,
- Manage leads generated and closure of sales,
- Provide post sales service to Policy Holders/Channel Partners,
- Develop the channel in area of operation,
- Achieve business goals as agreed from time to time.
Senior Marketing Executives engaged in Chief Life Insurance Advisor (CLIA) Channel Shall:
- Motivate and guide the CLIAs and supervise agents to achieve business objectives,
- Develop the channel and increase the production of business in a planned manner,
- Train the CLIA and take joint calls,
- Achieve business goals as agreed from time to time.
Senior Marketing Executives engaged in Direct Marketing will be responsible for recruiting, training and operationalising Direct Sales Executives to tap the untapped market segments and position specific products. They will also be required to approach High Networth Customers and other specified customers for high end business and have overall responsibility of expanding the Corporation's business in their area. |
| Remuneration | Remuneration package shall be Rs.600,000/- per annum (Rupees Six Lacs Only) which includes Employee & Employer's contribution to Provident Fund & contribution to Gratuity, wherever applicable. The package components shall be 70% fixed and 30% variable. Variable components shall be based on the performance criteria. Annual reset of remuneration may be considered based on annual appraisal of performance up to a maximum of 10% of the previous year's remuneration. |
| Selection Procedure | Selection of candidates will be based on performance in Group Discussion / Interview and or written test, if need arise. Candidates will be tested for their knowledge in General Awareness, Financial Products, Marketing Skills, Aptitude, Flair for interaction with customers, etc. Candidates qualifying in the Group Discussion/Interview and/or written test shall appear for a preselection medical examination. Candidates found medically fit in the preselection medical examination will be engaged as Senior Marketing Executives. |
| Application Fee | A crossed Bank Demand Draft for Rs.300/- valid for six months drawn in favour of 'Life Insurance Corporation of India' payable at Mumbai should be enclosed with the application form. Scheduled Caste/Scheduled Tribe/Physically Handicapped Candidates are exempted from payment of fees. Application with defective demand drafts are liable for rejection. |
| Working Hours | There shall be no fixed working hours as they may be required to work as per the directions of the reporting officer, subject to a minimum of eight hours per day. |
| Leave | During the period of contractual engagement, the Senior Marketing Executives are eligible for Casual Leave at the rate of one day for each completed month. Not more than 6 days casual leave can be availed at a stretch. They are also entitled to 30 days earned leave in- a year at the rate of 2.5 days leave for each completed month. However, leave cannot be claimed as a matter of right and may be granted subject to convenience of office. In no case, short duration earned leave of less than three days shall be sanctioned. Under special circumstances, Extra Ordinary Leave without remuneration can be granted for the period subject to a maximum of 30 days during the engagement period of three years. Remuneration shall be reduced proportionately depending upon the number of days extra ordinary leave is availed. No other leave shall be admissible and any absence not covered by leave shall be on loss of remuneration and shall have effect on continuation of the contract. Leave cannot be claimed as a matter of right. |
| Training | Candidates selected as Senior Marketing Executives shall be imparted specific job related training which shall be decided by the engaging authority. |
| Conduct & Discipline | A Senior Marketing Executive who displays inefficiency or indolence or who knowingly does anything detrimental to the interests of the Corporation, or causes financial loss to the Corporation by his acts or who commits a breach of discipline, or is guilty of any other act prejudicial to good conduct be imposed any of the following penalties: - Recovery from remuneration or such other amount due to him and /or loss caused to the Corporation.
- Reduction in Remuneration
- Termination of Contractual Engagement.
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