Salary: ₹7,00,000 - ₹8,00,000 a year

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We have an urgent opening with India’s leading NBFC for RM - Mortgages for loan against property in Mumbai (central or western). Please apply immediately if interested. Details are below:

- Must be handling ticket size of atleast Rs. 1 Crore per annum

- Should be currently in role of RM - Mortgages for lap (loan against property)

- Should have experience of dealing with channel partners and dsa (direct selling agents) independently

Job Type: Full-time

Salary: 700,000.00 - 800,000.00 per year

Company: One of India’s leading finance/capital companies in the business segment of loans

Position: Relationship Manager (Mortgages) for Loan Against Property

Location: Mumbai (Central/Western)

Salary: Upto maximum Rs. 8 Lakhs per annum (depending on current salary and experience)

1) Job Purpose: Write the purpose for which the job exists (in 2-3 lines)
The purpose of this job is:
oTo effectively contribute towards building the Mortgages line of business and loan book by marketing/ selling all products (LAP/LRD/HL) and solutions to potential and existing customers at targeted yields and fee through a strong distribution network
oTo strengthen the distribution network through the identification, empanelment and activation of able DSAs through knowledge sharing and capability building
oTo ensure client and channel acquisition through effective networking, organizing local area programs, direct builder network, cross-selling through group (ABG group companies)
oTo establish and nurture strong customer relationships through effective customer management and relationships building measures and techniques
oTo leverage an understanding of local markets and preferences and facilitate structuring of loans in accordance
oTo ensure all necessary due diligence is conducted to prevent fraudulent loans and ensure all sales processes are carried out in keeping with internal and regulatory guidelines

3) Job Context & Major Challenges: Write the specific aspects of the job that provide a challenge (internal and external) to the jobholder in the context of the Business/Unit/Function/Department/Section
As the debt arm of Aditya Birla Financial Services Group (ABFSG), Aditya Birla Finance Limited (ABFL) offers specialized lending and financing solutions in the areas of Capital Markets, Corporate/ Trade Finance, Commercial Real Estate and Mortgages. Currently ranked within the top 25 NBFCs of India, we have made significant progress and our balance sheet at INR 15,000 Cr plus exceeds that of several mid-sized Banks and NBFCs.
A well established brand and top 3 player in the Capital Markets space, today our product suite comprises of a well-diversified look, with equal weightage and focus given to the 3 lines of business. Having seen a y.o.y cumulative growth of 50% in both top-line and bottom line, sustainable profitability continues to be the key management agenda.
The company has a well-defined vision of being one of the most reputed and material financiers within the lending space spread across both retail HNI and corporate clientele. We have made significant investments in our process and system infrastructure towards preparing for the next level of growth and are one of the only financial entities certified for ISO 9001:2008 across all our business processes. Spread across 18 cities, we plan on further diversifying our risk and revenue mix through expansion into new geographies and new product segments allowing our customers a one-window shop for all their financing needs.
Mortgage lending encompasses a wide variety of financing solutions for clients, ranging from vanilla Home Loans and Loan against property, to more complex Lease Rental discounting, Commercial Purchase and Construction Finance lending. Financing solutions are provided to Self-Employed [professionals/ non-professionals/ salaried] against a wide array of lending programs, each of which aims to estimate the clients repayment capability accurately before the company to take an exposure. The lending program requires assessing clients on various dimensions, including income, repayment behaviour, stability of income/ residence, profile, collateral [valuation, marketability], ownership structure of business and the property and many others.
Loan approvals entail a good mix of profile checks, balance sheet lending and collateral assessment. An in-depth understanding of the customers business model, customers & suppliers, success factors and dependencies needs to be taken into account given these are long term exposures [ranging upto 15 20 years]. The financials are assessed to understand the repayment capability in the near and long term. Collateral assessment is another complex part of the underwriting process involving checking the structural stability, marketability, valuation, regulatory / local body compliance and legal veracity all to ensure the property can be liquidated to repay the loan if required in case of customer default.
Lending is often structured to meet the client needs by deriving comfort through the hard collateral [can be a ready or under-construction property / project] and cash flows [in form of rentals, or project cash-flows both against sold/ unsold receivables].
In construction finance, underwriting focuses not on the balance sheet but significantly on the project and the promoter group. Assessment here involves understanding the previous track record of the builder in terms of quality and timeliness of completion, saleability of projects, track record with other lenders and no. of projects delivered in the past. Project monitoring and end use of funds disbursed are critical here given risks around funds being used elsewhere, sale receivables not coming to the lender as a repayment and so on. Prudent customer selection is critical and is highly dependent on a relationship managers market awareness and client background information.
Being one of the most preferred asset classes in the lending space today lends this business the immense challenge of competing with all FIs / banks in a highly price sensitive target segment.
Job Context
Key Aspects:
oMortgage function added as most recent line of business to ABFL in 2011, caters to the short term and long term funding needs of the Institutional as well as retail clients across the country. The product portfolio includes Loan against property, Lease rental discounting, home loans disbursements, etc
oLate entry into a highly competitive and commoditized market
oWhile unit of sizing up the business is its loan book size, the mortgage function has been tasked with profitability and zero delinquency as key objectives
oMarket has displayed a high dependence on distributors historically for sales. Distributors not tied agents.
oTarget customers largely from the self employed category, making regional/ local variables central to customers decision making
oProduct associated with high emotional value [property]. Relationship management key to procuring business and post sanction surveillance of loans.
oBusiness cycles follow real estate market fluctuations, although Tier 1 cities are least impacted as a result
oStrong understanding of business finance, loan structuring methods and credit administration key to building credibility with customers and gaining competitive advantage
oUnderstanding of local regional market characteristics such as region specific occupations/trade, local financial and investment preferences and practices important to gain competitive advantage while structuring loans.
Key Challenges
oTo keep abreast with the latest market trends and local market preferences and needs
oTo ensure conversion percentages are high despite a highly competitive and commoditized market
oTo employ effective selling skills keeping in mind the demographic profile of the target customer
oTo ensure product mix generates adequate interest income margins
oTo constantly upgrade financial know how on loan structuring methods and business financials in order to build credibility with customers
oTo establish a strong local network and leverage the same to generate business leads
oTo identify opportunities for cross sell with existing customers
oTo enable DSAs to increase product sales while simultaneously maintaining control of the sales distribution outcomes with self
oTarget customers largely from the self employed category, making regional/ local variables central to customers decision making
oProduct associated with high emotional value [property]. Relationship management key to procuring business and post sanction surveillance of loans.
oBusiness cycles follow real estate market fluctuations, although Tier 1 cities are least impacted as a result
oStrong understanding of business finance, loan structuring methods and credit administration key to building credibility with customers and gaining competitive advantage
oUnderstanding of local regional market characteristics such as region specific occupations/trade, local financial and investment preferences and practices important to gain competitive advantage while structuring loans.
Key Challenges
oTo keep abreast with the latest market trends and local market preferences and needs
oTo ensure conversion percentages are high despite a highly competitive and commoditized market
oTo employ effective selling skills keeping in mind the demographic profile of the target customer
oTo ensure product mix generates adequate interest income margins
oTo constantly upgrade financial know how on loan structuring methods and business financials in order to build credibility with customers
oTo establish a strong local network and leverage the same to generate business leads
oTo identify opportunities for cross sell with existing customers
oTo enable DSAs to increase product sales while simultaneously maintaining control of the sales distribution outcomes with self

Please apply immediately if interested.

Job Type: Full-time

Salary: ₹700,000.00 - ₹800,000.00 per year

Schedule:

  • Day shift

COVID-19 considerations:
yes

Ability to Commute/Relocate:

  • Mumbai, Maharashtra: Reliably commute or planning to relocate before starting work (Required)

Education:

  • Bachelor’s (Required)

Experience:

  • dealing with channel or dsa (direct selling agents): 2 years (Required)
  • RM mortgages lap (loan against property): 2 years (Required)

Work Remotely:

  • No
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