Product Manager - Escrow Account - Bank

Given below the position details with a Leading Bank :

Role/ Job Title: Product Manager- Escrow Account

Function/ Department: Wholesale Banking

Location - BKC Mumbai

Job Purpose:

To develop, structure and customize Escrow Service Deals alongside provide advisory services in line with internal processes and regulatory guidelines. Develop new products according to changing customer needs & conduct research on new product development & market with regards to Escrow Product & Services

Job Responsibilities:

- Working with Regional Sales/Coverage heads & Legal/Compliance teams internally for designing customized Escrow related deals (incl. CMS solutions) for sustained Escrow Account fee income and balances.

- Liaise with regulatory and internal audit teams and ensure nil regulatory/control deviations.

- Work with Product Lead & Product Head for Cost optimization and ensure profitability of Escrow mandates.

- Benchmarking product offerings with competition and work on new-age technology to provide differentiated Escrow solutions, focused efforts to increase digital footprint by increasing CIB usage for CMS/Escrow customers.

- Handling of day-to-day transaction approvals and issues across collection and payment products.

- Work closely with Ops and IT to ensure smooth execution of various product offerings.

- Work on system development initiatives and implementation.

- Process standardization and optimization along with Operations and other stakeholders.

- Cost saves, achieve product profitability in line with defined KPI/KRA and objectives.