Level/ Designation : DVP - Liability Product Head

Reports To : VP - Retail Liability Product and Portfolio Head

Job Description :

- Leading a 15-member Product Team in managing a diversified Retail Liability product portfolio catering to differing consumer segments/needs which includes 15 Savings Products, Salary and Trust accounts, Term Deposits, Demat Accounts, Lockers and Small Savings Products (PPF, NPS, APY, SSS)

- Primarily responsibilities include Delivery of Product Strategy and Life Cycle management (New launches/ Improvements/Maintenance/Processes/Communication), Product Innovation, achieving Product Fee Income Targets, ensuring overall Product Mix & Acquisition Quality and Improvement in Product Customer Satisfaction scores

- Lead up the New Product Development team to manage insight generation, translating the insight into product concept, taking the insight through the stage gate innovation model, working on feasibility, capability & launch of the approved product

1. Responsible for innovation & new product launches with the key focus on digital for retail liabilities

2. Tracking the innovation landscape in the banking industry

3. Managing the innovation funnel i.e. fuelling the funnel with new ideas through consumer insight generation as well moving the approved ideas through feasibility, capability and launch

Own the Acquisition Quality performance :

1. Design product policy to ensure improvements in sourcing quality

2. Design and Execute a Product Acquisition campaigns which focuses on increasing the sales for key focus products to meet the revenue objectives. Enablers like Customer On boarding gifts, customized Internal/External communication, tactical Sales Incentives, Channel activation activities are used to meet the designed Sales Plans

3. Create Channel specific information tools to monitor the Product Acquisition quality performance

4. Introduce Tactical Product Pricing offers - Lower Initial Funding, Limited Period Free products, to affect short term sales spikes

Retail Term Deposits Business :

1. S/he will be expected to manage all key product activities for Retail Term Deposit: Product Benefit suite, Sales Quality and processes, Fee Income and Profitability, Sales Volumes and customer satisfaction over the entire product life cycle

2. Responsible for driving the RTD budgetary goals for the bank through product initiatives and anchor channel activities for the same

3. Project management of all product integration/launches changes throughout implementation

Fee Income :

1. Identification of revenue earning and cost saving opportunities across product lines

2. Streamlining - Effective Review and Monitoring of Channel Discounts and Re-engineering of Pricing and Price Discount Processes/Systems

Major Competencies Required :

- Strategic Thinking : Business Acumen, Vision and ability to deal with Ambiguity

- Influencing skills : Communication skills, Team management, Interpersonal skills, cross functional team work, Leading and Motivating

- Analytical skills : Advanced spreadsheet and numerical analysis skills, Project management and Time Management skills

- Design Skills : Ability to analyze processes and re-engineer them.

Candidate Profile :

- Ideal candidate will be an MBA in marketing from a reputed business school

- Overall 7-8 years- experience with 3-4 years preferably in Product-Portfolio Management / Digital Innovation / NPD/ Consumer Insights in BFSI, e Commerce & telecom

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