Chola – Management Trainee

Job Description

About Chola:

Cholamandalam Investment and Finance Company Limited (Chola), incorporated in 1978 as the financial services arm of the Murugappa Group. Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider offering vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking and a variety of other financial services to customers.

Chola operates from 885 branches across India with assets under management above INR 47,700 Crores. The subsidiaries of Chola are Cholamandalam Securities Limited (CSEC) and Cholamandalam Home Finance Limited (CHFL).

The vision of Chola is to enable customers enter a better life. Chola has a growing clientele of over 8 lakh happy customers across the nation. Ever since its inception and all through its growth, the company has kept a clear sight of its values. The basic tenet of these values is a strict adherence to ethics and a responsibility to all those who come within its corporate ambit – customers, shareholders, employees and society.

Overview of the Vehicle Finance Business:

Inspiring drivers to become fleet owners

For the past 20 years, Chola has created value for its customers by supporting them in becoming entrepreneurs in the field of commercial transportation. Chola has financed over 750,000 customers, and increasing by over 15,000 new customers every month. Chola enjoys a valued and stable relationship with manufacturers and dealers, one of the key reasons, why it is a leader in the commercial vehicle segment.

 Our Products: Two Wheeler loans, Commercial Vehicle loans, Tractor loans, Car & MUV loans, Construction Equipment loans.

Key Features:

• Loans from INR 1 lakh onwards.
• Loans for both new and used vehicles.
• Motor Insurance, life insurance and personal accident cover.
• Relationship managers to assist you in all your loan needs.
• Presence in over 879 branches across the country.

Purpose:

The Management Trainee(MT) position is responsible for working alongside the Area/Branch Managers and accepting delegated responsibilities and duties with the goal of eventually becoming an Area/Branch Manager. The management trainee program will be for a period of 1 year with assignments in Sales, Credit and Collections domains. On successful completion of the assignments,  further deployment will be planned in the specified function.

Qualification: Fresher/ Less than 1 year of professional work experience.

Job location: Anywhere in Orissa

Position Reports to: Area/Branch Business Manager.

Grade after completion of MT: MG 2

Designation: Assistant Manager

Job Responsibilities:

• Track and analyse market trends, competitor rates, competitor offerings and positioning in the Branch/Area location.
• Support the Area Business Manager/Branch Business Manager to monitor product line sales performance in the branch vis-à-vis market potential and opportunity.
• Support the Area Business Manager/Branch Business Manager to monitor product line productivity of Sales Field Executive & Collections Field Executive in the Area/Branch.
• Develop initiatives to increase sales and customer base.
• Support the Area Business Manager/Branch Business Manager to maintain a high quality portfolio by minimizing the Early Defaulters (EDs) and Non Starters (NS).
• Support the Area Credit Manager/Branch Credit Manager to assess customers’ credit worthiness, in terms of ability and willingness to pay.
• Support the Area Business Manager/Branch Business Manager to drive sales to achieve Front End Fee Income (FEFI) and cross-sell targets.
• Support the Area Business Manager/Branch Business Manager to build, manage and promote relationship with various channels to generate new business and to solicit referrals.

• Support the Area Business Manager/Branch Business Manager to liaise with Manufacturers and Retail heads for enhancing sales through dealerships.
• Support the Area Business Manager/Branch Business Manager to ensure continuous generation of business through efficient dealer/broker relationship management.
• Support the Area Business Manager/Branch Business Manager to ensure adherence to SOPs and other procedural documentation.
• Assist dealers / customers in completing all documentation required for credit approval, such as Feasibility Report, Fitness Permit, Insurance documents, etc.
• Support the Area Credit Manager/Branch Credit Manager to ensure that dealers / customers submit all documents as per the Company checklist.
• Accompany Field Sales Executives on Dealer / Customer visits, particularly large ticket sizes or difficult negotiations.
• Support the Area Business Manager/Branch Business Manager to source and hire CBSL employees as Field Sales Executives/Team Leads, as per Chola policy.

Technical Competencies:

• Excellent Analytical skills.
• Business Acumen.
• Conversant with the local language.

Non-Technical Competencies:

• Excellent communication skills both written and verbal.
• High Learning Orientation.
• High Task Orientation.
• Team Player.
• Persuasiveness/ Sales ability.

Prefer: MBA – (Finance / Marketing) Specialization

CTC will be 5 Lakhs/per annum.

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