Job Description - Product Manager (NRI Private Banking - Banking Products)

Business Unit: Private Banking - NRI

Role: Product Manager - Banking Products (NRI Segment)

Location: Mumbai

Grade: VP

Reporting To: Sales Head - NRI Private Banking

Role Overview

The Product Manager - NRI Private Banking (Banking Products) will be responsible for designing, managing, and enhancing the banking product suite customized for HNI/UHNI NRI clients. The focus is on exclusive banking offerings such as NRE/NRO/FCNR deposits, premium account programs, cross-border remittances, global access solutions, and high-touch service journeys.

This role requires strong product knowledge, deep understanding of NRI regulatory frameworks, and experience working with private banking or affluent client propositions.

Key Responsibilities:

1. Product Development & Proposition Design:

- Build and refine the NRI Private Banking banking product suite (NRE/NRO/FCNR deposits, elite accounts, debit/credit card privileges, global access solutions).

- Develop differentiated value propositions for NRI Private Banking clients (privilege bundles, fee waivers, concierge banking, premium experiences).

- Identify and develop enhancements in onboarding, account opening, KYC/FATCA/CRS journeys for NRIs.

2. Portfolio & Business Management:

- Monitor product performance across deposit book, CASA ratios, account activation, and customer usage metrics.

- Drive improvements in remittance flows, transaction throughput, and service penetration for NRI Private Banking clients.

- Conduct profitability analysis, pricing review, segmentation, and strategic product interventions.

3. Regulatory & Compliance Oversight:

- Ensure strict compliance with FEMA, RBI regulations, FATCA/CRS, AML/KYC requirements for NRI banking.

- Work with Legal & Compliance to update product documentation, forms, disclosures, and process guidelines.

- Ensure zero-error adherence in Private Banking client processes.

4. Franchise & RM Enablement:

- Create product notes, process guides, and RM training modules to support Private Banking Relationship Managers.

- Provide support for high-value NRI client requirements, exception cases, and complex cross-border transactions.

- Drive adoption of banking product features through sales campaigns, internal contests, and targeted communication.

5. Digital & Process Enhancements:

- Work with Digital Banking/IT to enhance NRI Private Banking journeys (digital onboarding, service requests, cross-border capabilities, global card features).

- Simplify and optimize NRI client processes, particularly KYC updates, remittances, and account servicing flows.

Qualifications & Experience:

Educational Qualifications:

- MBA/PGDM preferred

- Graduate in Finance, Economics, Business or related fields

- Certifications in International Banking, FEMA, or NRI compliance (good to have)

Experience:

- 5-10 years of experience in Banking Product Management, NRI Banking, or Private Banking.

- Strong understanding of NRE/NRO/FCNR deposit products, remittances, payments, and premium accounts.

- Prior experience working with affluent/HNI customer segments within a bank.

- Proven experience collaborating with RMs, Operations, Compliance, and Digital teams.

Skills & Competencies

Functional:

- Strong knowledge of NRI banking regulations (FEMA, RBI, FATCA/CRS).

- Expertise in liability products: NRE/NRO/FCNR, premium accounts, remittances, cards.

- Analytical capability for product performance and customer behaviour.

- Experience with premium client servicing models.

Behavioural:

- Strong stakeholder management & communication skills.

- Customer-centric thinking and solution orientation.

- Ability to handle complex client scenarios and exceptions.

- High ownership, detail orientation, and execution focus.

KPIs (Banking Products Focused):

- Growth in NRE/NRO/FCNR book

- Increase in NRI Private Banking CASA & balances

- Growth in remittance throughput & fees

- NTB acquisition supported through improved products

- RM adoption and product penetration in the PB segment

- Reduction in onboarding/servicing friction for NRI clients