Ujjivan Small Finance Bank - National Product Manager - Retail Liabilities/Branch Banking

I. POSITION DESCRIPTION

JOB TITLE - National Product Manager - Retail Liabilities

GRADE - SVP

DEPARTMENT - Branch Banking

LOCATION - HO

SUB-DEPARTMENT - Products

TYPE OF POSITION - Full-time

REPORTS TO - Business Head - BB REPORTING INTO Leads/ Managers of Retail Liabilities

II. ROLE PURPOSE & OBJECTIVE

This role is responsible for overseeing the strategic development, management and enhancement of all products related to branch banking operations across the country. This role involves focusing on business growth, drive innovation while adhering to the compliance standards, optimizing customer experiences, refining internal processes, digital initiatives and fostering a culture of continuous learning within the branch banking domain.

III. SIZE OF THE ROLE

FINANCIAL SIZE NON-FINANCIAL SIZE

- As per the yearly business budget of the function - Number of vendors - minimum vendors each across regions.

- Number of portfolio products minimum 7 products with their sub-variants along with variable pay.

- Quantity of projects Minimum 4 to 5 projects every month which could also increase basis requirement.

- Volume of new hires onboarded Addition of 3 to 4 resources every year based on the requirement of the function and attrition.

IV. KEY DUTIES & RESPONSIBILITIES OF THE ROLE

1. Business

- Develop and execute comprehensive product strategy aligned with the banks business objectives, ensuring Retail Liabilities products contribute to overall growth of the bank.

- Define product roadmap from ideation to launch to upkeep, set clear goals, and establish KPIs to measure product performance and success at every stage of the product.

- Drive product profitability and manage product lifecycle by optimizing pricing strategies, managing costs, and assessing risks.

- Maintain a proper product mix at all times.

- Conduct market research, identify trends, and analyze competitor offerings to drive product innovation and maintain a competitive advantage.

- Ensure Digital scale up, market mapping of digital initiatives of various Banks and implementing comprehensive digital solutions relevant to our customers with minimum time to market is implemented.

- Forge strategic partnerships and collaborate with stakeholders to explore opportunities for product diversification as and when required and contribute to market growth. Customer

- Champion customer-centric approaches in product development, aiming to enhance customer experiences across all touchpoints.

- Utilize customer feedback, behavior analysis, and market research to identify customer needs and preferences to develop or course correct product strategies.

- Collaborate with marketing and customer service teams to create educational materials and campaigns that effectively communicate product benefits and features to customers.

- Accountable for achieving the defined C-SAT Scores at all times

Internal process

- Collaborate with the Digital banking team to develop suitable data analytic strategies for the products and to make informed decisions

- Work with the technology teams to identify opportunities of developing new or streamline existing systems to cater to digital goals of the bank

- Work closely with compliance, risk and operations to ensure seamless coordination throughout the product lifecycle.

- Ensure product meets quality standards and complies with regulations

- Work with marketing team to ensure smooth product launches and ongoing management

- Continuously evaluate and enhance internal processes related to product management, aiming for increased efficiency and agility in responding to market changes.

Learning & Performance

- Facilitate forums, workshops, or training sessions to share industry insights, best practices, and new learning experiences among team members and across departments.

- Encourage a culture of continuous learning and skill development among the product team, fostering professional growth and innovation

- Ensure awareness of products and features across the organziation

- Ensure adherence to training man-days/ mandatory training programs for self

V. MINIMUM REQUIREMENTS OF KNOWLEDGE & SKILLS

Educational Qualifications - MBA/PGDM

Experience - 18+ years of experience with 5+ years of experience in core Branch Banking Products

- Deep understanding of retail banking industry

Certifications - Optional

Functional Skills - Strategic Planning

- Market Research

- Product Management

- Business Analysis

Behavioral Skills - Solution focus

- Listening skills and understanding business needs

- Critical thinking and problem-solving skills

- Project Management skills

- Ability to manage teams

- Collaboration skills

- Strong analytical skills and data-driven thinking

VI. KEY INTERACTIONS

INTERNAL EXTERNAL

- Business

- MIS & Data Analytics

- Operation & Service Quality

- Financial Planning & Strategy

- Information Technology

- Internal & External Audits

- Credit & collections

- Risk & Compliance

- Media Agencies

- Advertising & Marketing Consultants

- External Vendors

- External Auditors