Product Manager - Retail Trade & Forex

Job Name - PA (Retail Trade and Forex) :

Business Unit (PA) :Retail Trade and Forex

Job Purpose :

To own and manage the Product, Process, Portfolio and Compliance functions for all imports-related transactions for non-borrower retail clients, viz., Outward Remittances towards Advance Payment for Imports, Import Bills under Collection, Remittance towards payment of Direct Import Bills, Forward Covers, Refund of Import Advances, Write-off of import bills, paperless import remittances etc.

Job Responsibilities(JR) Actionables

1. Product Development

- To understand the customer requirements for specific products/ services in specific customer segments/markets based on feedback from Sales team and/or Branches, alongwith other sources of information/published data, and designing appropriate solutions to satisfy the customer requirements within the framework of regulatory guidelines.

- To conceptualise, design and execute new projects for development of new utilities/systems that to enable digitization of processes related to import transactions.

- To keep track of and remain continuously updated with the ever-chaning regulations, processes and market practices related to import business, viz., FEMA notifications, RBI regulations and processes, DGFT and Customs regulations and processes, FEDAI regulations, Shipping industry practices, as well as International regulations such as ICC publications, FATF and OFAC regulations, UN sanctions, banking regulations in different jurisdictions as well as Bank's tieup arrangements with different international banks etc.

- To closely examine, on an ongoing basis, all changes in regulatory guidelines and processes, as well as market developments. related to import business, assess their impact on RTFX business, and work out appropriate solutions, in coordination with Trade Operations and Compliance, with a view to ensuring constant business growth, without any compromise on compliance requirements.

- Closely working with WBO teams and suggesting required changes in the circulars to ensure weedout of redundant processes and improvement in others with a view to improve delivery of the products to customers.

- Maintain liaision with other channels to ensure cross sell Export-related products to customers managed by respective channels, and providing of appropriate solutions based on channel specific requirements.