Product Manager- Retail Forex

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]

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

• BDTS team

1. 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
2. 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