Head - Product - Easy Buy Cards

Our Client:

The Client is a leading Financial Institution in India focused on providing debt financing to MSMEs and Indian consumers. It was founded in its current form in 2012 by securing an equity backing of Rs. 8.10 bn from global Private Equity player, by way of buyout of an existing listed NBFC, and in the process the company got new shareholders, reconstituted a new board, started new business lines, and created a new brand and entity.

The Private Equity Player which acquired a controlling stake of 70% in our Client is a Private Equity Fund with more than 45 years of history and more than $50 billion investment experience in 720 companies. This has been the largest management buyout of a listed finan-cial services company in India by a Private Equity Fund.

The founding theme of our Client is that financing India's 50 million MSMEs and its emerging middle class, with a differentiated model, based on new technologies provides a large and unique opportunity. Its services provided to retail customers include secured loans to small and medium enterprises, consumer durables loans, two-wheelers loans. Services to corporates are in the form of loans, securities / collaterals. It also provides debt financing and working capital financing to corporates against identified projects, security of receivables and inventories of the company. Unlike traditional models of financing, It has successfully created new models of financing MSMEs and Indian consumers in hitherto unbanked and under-penetrated segments by using a differentiated model based on new technologies and deep analytics.

The company provides financing for various purposes like business expansion, loans for Plant and Machinery, Office furniture, display panels, office automation like PCs, laptops and printers. With this differentiated approach, Our client has financed over 2.25 million customers including more than 1.5 million self-employed individuals and MSMEs and built loan assets of Rs. 160.41 billion (USD 2.4 bn) (March 31st, 2016). Within a short time, It has has built a large network and provides financing in 222 locations across the length and breadth of the country. The loan book of the company is of high quality as compared to the industry, with Gross and Net NPA 1.07% and 0.55% re-spectively. The company enjoys a high credit rating of AA+ which has been achieved by very select financial institutions in India. Our Client is focused on building an institution on strong pillars of ethics, values and high corporate governance.

PRODUCT PORTFOLIO:

The product portfolio and its offering from our Client is as below:

Retail Loan Products:

- Personal Loan

- Consumer Durable Loan

- Two Wheeler Loan

- Pre Owned Car Loan

- Business Loan

- Loan Against Property

- Easy Buy Card (EBC) - Don- t Swipe it, just flash it!

The Easy Buy Card gives you the power to own a new Air-Conditioner, LED TV, Refrigerator, Latest Smartphone or any other durable from various retail across India

The Easy Buy Card is provided to existing Consumer Durable and Two Wheeler Loan customers of our Client basis good repayment behavior

The card comes with a pre-approved limit. This limit will keep increasing on repayment of your existing Consumer Durable Loan.

It requires NIL documentation

ACCOUNTABILITIES:

PRODUCT OWNERSHIP

- Develop and initiate portfolio management strategy to drive increase in activation rates, limit utilization and revenue on Easy Buy Cards (EBC) portfolio

- Assume responsibility for entire life cycle of product development including business strategy, product strategy and customer value proposition

- Conduct regular portfolio performance analysis on the Easy Buy Cards (EBC) portfolio to identify profitable products and segments

- Identify untapped growth segments and develop targeted offerings to increase level of engagement across all customer segment and loan offerings

- Develop the Analytics and business modelling to enhance penetration and use

- Own the Product strategy, Product road map, and Product Development & management

- Understanding of the revenue and credit risk models to identify right target segment and profitability

- Conduct regular competitor analysis, identify and implement new products and services to drive interest and fee revenues, in partnership with centers of excellence

- Find new channels to drive acquisition of new Easy Buy Cards (EBC)

- Manage retention and develop proactive and reactive retention /win back programs

COORDINATION WITH SALES & MARKETING / ALLIANCES / CUSTOMER SERVICE

- Conduct business Intelligence data analysis to develop on-going marketing, positioning and communications strategy for customers and partners that differentiate the offering

- Develop business tracking reports across customer segments and sales channels to achieve business targets

- Work with the multi-disciplinary teams to refine customer value proposition, translating it to the Market Requirement

- Roll out loyalty program on card base - work with customer service team to change processes for faster query resolution, and customer service issues on Easy Buy Cards (EBC) cards

- Work with Sales and with Marketing to analyze market requirements, plot competitor landscape and define product positioning

- Work in a team with shared responsibilities and work within given deadlines

- Experience of developing and managing strategic alliances

POSITION SPECIFICATION

Position: Product Head - Easy Busy Cards

Location: Mumbai

Reports To: Business Head - Consumer Durable Loans

- Experience of handling product development/product management in cards is a must