SECTION I: BASIC INFORMATION

Job Title Product Manager- Retail Forex

Functional Title-Product Manager

Business Unit - Fee Based Business

Division - Central Office

Department - Retail Forex

Location - Mumbai

SECTION II: ROLE SUMMARY

The role holder is responsible for managing product/ process development for Forex products (both digital and offline) across the spectrum of Bank's Retail Individual customer base. This includes understanding of Forex product suite, Non-Resident business as well as the regulations concerning the same. Responsible for implementing and executing the product / process strategy from research, benchmarking, development to testing, launch and proliferation along with complete business responsibilities.

SECTION III: KEY RESPONSIBILITIES/ ACCOUNTABILITIES

Strategic/ Managerial Responsibilities

Responsible for the development of products / process for the retail business including: product strategy, product definition, launch and commercialization along with internal teams, aligning it with the Bank's strategic and regional imperatives, communicating the same to sales channel
Reduce processing bottlenecks in products and process with a strong focus on Turn Around Time (TAT) as per Service Level Agreements and productivity standards.
Identify opportunities for productivity saves through process automation by closely working with the Internal Teams and Technology partners.
Effective stakeholder management for timely execution of the actionable for digital products

Core Responsibilities

Develop & drive process / product / policies for various segments as per branch catchment in line with customer requirements and for improvement in customer experience
Understanding and identification of opportunities in market segments and develop new products for identified segments / concepts in line with the needs.
Competition Benchmark in accordance with market practice & regulatory guidelines on product/process/policies/pricing
Design customer life cycle strategy – for co-originated product bundles from Onboarding the new customers to engaging existing customers for up sell and x sell through calendared approach
Driving digital product proliferation and enhancing adoption across the branch banking unit to enhance adoption and maximize utilization
Responsible for P&L for RFx products managed and ownership of in training / capability building in front line channels
Work with multiple stakeholders, including the Relationship Managers, Branch banking, Operations, Legal, Compliance, Quality and technology in executing business process re-engineering and product customization
Ability to work on number of initiatives simultaneously with equal priority and vigor

People Management or Self Management Responsibilities

Knowledge Management – Training material, Driving Training / skill development initiatives in consultation with stakeholders & Branch Banking Leadership for Relationship team and PSM team
Spend time on self-learning through emphasis of on-the-job training and learning
Ensure performance goals are defined in discussion with reporting manager and are monitored/achieved during the year
Ability of handling Regulators and audit observations / representations and asks Risk and Internal Control Responsibilities Ensuring relevant operational/procedural risks are taken care & sufficiently addressed while redefining existing processes/policies / product development
Training of PSMs on Forex product/processes from regulatory guidelines & risk perspective.

SECTION IV: KEY INTERACTIONS

RFX Product Sales Manager / RPSMs / ZHs: Periodic con-calls for structuring product/process/pricing requirements for their respective catchments / customer segments for product development and proliferation
Digital Banking Group: Co-ordination for product innovation, development and structuring from retail / branch perspective including Product UAT, testing and launch.
Trade NOC & CSD: Periodic interaction with NOC/CSD for discussion on documentation/process/policies related simplification and TAT improvements
MCC [Marketing & Corporate Communication]

Coordination for product / process development and proliferation / adoption through marketing activities.
Targeted marketing initiatives for online and offline adoption
Understanding regulatory changes and accordingly publishing the changes through periodic advisory releases

BDTS team

Regular interaction with the BDTS SPOCs test scenarios, UAT testing, CUG testing and deployment, Demand requests through DMT business cases and final deployment / go -live
Troubleshooting the bugs/ issues with regular huddles and war room calls focused on retail client requirements

Branch Banking
Coordination with branch banking teams for product research and marketing activations Key External Interactions Purpose of Interaction

SECTION V: KNOWLEDGE & EXPERIENCE KNOWLEDGE

Minimum Qualifications

Bachelor's degree in any field
MBA / CA from a recognized premier institute Professional Certifications

Skills

Understanding of Forex products
Banking & relevant industry experience
Experience in digital product UAT, development & trial
Strong fundamentals in data analytics
Strong fundamentals in effective stakeholder management
Excellent presentation & communication skills

EXPERIENCE

Years of Experience Preferably 5-6 years of relevant work Experience

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Product Manager- Retail Forex