CEO at Exceed Consulting
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Head - Product - Current Accounts - Bank (15-18 yrs)
Our Client, a Leading Bank is looking out for a Head of Product - Current Accounts to be based at Mumbai.
- The ideal candidate should be having 15+ years of experience, of which at least 3yrs as a Product Management lead for Current Accounts in a reputed bank.
- The individual should have an experience of managing the entire Product Management Lifecycle and customer journey for the current account product.
- Development of new products by identifying new opportunities & requirements for Current Account Portfolio.
- Regular Interaction with business units for understanding customer requirements, gathering market intelligence and providing solution to meet customer needs
- Responsible for the CA portfolio, all existing Product variants including FCY current account variants
- Constant Review and benchmarking of the existing products with the market needs as well as competition banks so that the product offering is as per the market requirement
- Driving the growth of Current Account Book size for the bank.
- Monitoring Current Numbers /NAV/Product Mix /Change in Base at region/ zone / cluster / branch / channel level.
- Devising Branch level action plan / strategy jointly with the branch managers / cluster heads for achieving current account business plans and monitoring progress.
- Roll Out various Promotional Offers/ Contests / Campaigns to help branches and increasing market share.
- Process improvements to improve efficiency for the product delivery across branch banking.
- Driving key Management initiatives on Current account.
- Review of product level charges in line with the competition and existing pricing.
- Analyse the controllable costs incurred and run initiatives to reduce cost.
- Activity to improve Product holding thereby increase customer stickiness to the bank.
- Track the growth of competition Bank deposit movement as well as Market on a regular basis and highlight the same to the Senior management w.r.t. comparing our deposit growth vis- vis competition as well as market.
- Digital Migration of Current Account Portfolio and identify appropriate Digital Platform basis customer profile & transaction behaviour.
- Development / Enhancement of Digital Products / Platforms in line with Current Account Customer requirements.
- Improvement of Product Proposition, add features, streamline processes, reduce TAT to ensure higher penetration / improved digital activation in CA Portfolio
- Work jointly with Digital Teams & Branch Line Managers to monitor branch / channel engagement with pre identified base to ensure meeting of transaction migration target.
- Initiating campaigns via Email / SMS to ensure migration of transactions to STP platform.
- Providing customised product offering and digital solutions to Ecommerce / Payment Gateway customers in terms Nodal Account / Escrow offerings etc which has really helped the acquisition team to built up their Ecommerce portfolio.
- Identify and drive opportunities for cross sell current account product in different verticals of business with in the bank.
- Market scoping / identifying opportunities for current account business in coordination with the Cluster Heads and address product gaps.
- Conduct Regular performance reviews with the Line Management in Branch Banking to highlight trends / performance vs benchmarks / progress on various initiatives / opportunities / reasons of underperformance etc.
- Driving business in line with key parameters such as (a) Productivity monitoring in diverse demographics (b) High Product Mix (c) Quality initiatives (d) Customer engagement programs (e) Branch wise Achievement Focus : Scientific Catchment based mapping and business (f) Tight control on cost of acquisition (g) Process initiatives (h) Team Training.
- Designing Branch Sales Management Working Model
- Monitoring Channel Performance on set benchmarks for customer engagement / profiling to ensure effective on boarding and maximize wallet share
- Ensuring compliance of Branch Sales Processes through Interim Reporting, regular reviews, sample checks and branch visits.
- Ensuring effective on boarding and timely engagement with newly acquired current accounts by sharing monthly customer engagement plan with Channel team.
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