The Managing Director has profit and loss responsibility of VFS India (“VFSI”) legal entity. This position manages the development and execution of the business plans for VFSI to serve Business Areas (VCE, Volvo Trucks and Volvo Bus) and also our truck JV, VECV in line with agreed targets and budgets and within Volvo Group guidelines. This includes achieving sales and profitability targets through strategic cooperation with VECV and Volvo Group BAs.
This position directly reports to President, VFS Region Asia Pacific and act as a member of VFS Asia Pacific Executive Management Team.
Develop VFSI strategies / plans by taking into consideration Business Area strategies / plans and in line with AB Volvo, VFS Asia Pacific / HQ strategies
Develop and steer the execution of the VFSI strategies and business plans
Achieve profitability and sales targets as well as drive continuous improvements in the competitive cost structures and productivity
Maximize growth and new business development with a strong focus on interest spread, fee income and After Tax Return on Equity (ATROE) while increase / maintain the quality of the portfolio
Systematically manage deliveries, penetration, managed assets, overdue and write-off ratios, operating income, selling expenses and headcounts to ensure business performance
Effectively manage the complete business cycle to ensure stable performance of the portfolio of VFSI
Submit business and operational plans in line with VFS Asia Pacific / HQ objectives
Execute the Personal Business Plan (“PBP”) process in full alignment with VFS objectives and AB Volvo policies
Represent VFSI in Volvo Group India Country Management Team (“CMT”) with Business Areas and manage the business relationship with them.
Proactively identify and drive initiatives to meet customer / business needs and requirements and manage relationships with customers on an on going basis
Commercialize new financial products and services for Business Area customers
Ensure implementation and execution / utilization of VFSI initiatives, campaigns, projects and tools
Assess and ensure the competency of the his direct reports who head key functions (Sales, Risk, Operations, Collections, Finance, Legal and HR) and reinforce accountability through defining objectives and managing / monitoring results
Drive and monitor continuous improvement in service levels
Foster high performing culture utilizing various tools and programs (e.g. incentives, VGAS)
Recruit, develop and retain talented people according to competence screening
Manage and coordinate internal and external communications for VFS in India
Drive customer focus and optimize customer satisfaction.
Education & Professional experience
M.B.A. or equivalent professional. Post-graduate degree as a plus
Minimum 5 years of management experience with direct responsibility for a key function such as sales, risk or operations, and at least 15 years of financial services / banking experience
Experience of working in the commercial vehicle, construction equipment or finance industry is desirable
Experience of working in an international and multi-cultural environment
Strong key account management skills
Excellent spoken and written English and Hindi
Proficient in PC skills, especially MS Office
Competencies & skills
Expert knowledge of financial services in India, especially commercial vehicles and construction equipment
Good knowledge / understanding of industries and markets, especially commercial vehicles and construction equipment
Ability to understand, develop and implement VFSI strategy
Demonstrates managerial effectiveness (doing the right things) and efficiency (doing things right)
Highly target-driven, self-motivated and willing to take responsibility
Results-orientated and commercially driven, while building foundations for long term business relations
Strong strategic planning and analytical skills as well as holistic thinking
Strong key account management and communication skills
Exceptional interpersonal skills and ability to interact and influence at all levels both internally and externally
High standard of professionalism and operates with integrity (The Volvo Way)
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