Role purpose:
Own the day-to-day management, enhancement, and growth of the retail savings account portfolio, working under the Product Head to execute strategy across metro, urban, semi-urban, and rural branches. The role covers product design, digital journeys, analytics, frontline enablement, and compliance to drive sustainable balance growth, account quality, regulatory compliance, and customer experience across metro, urban, semi-urban, and rural branches.
Key responsibilities
Product development and lifecycle management
- Execute the savings account product roadmap defined by the Product Head, including new variants and enhancements to existing propositions.
- Conduct competition benchmarking and customer research to refine features, pricing, and packaging for different segments and branch archetypes.
- Draft and maintain product notes, BRDs, PRDs, and internal policy documents for all savings account offerings.
- Own product-level business cases, pricing assumptions, and ROI tracking for new variants and major enhancements.
- Periodically review fees, interest constructs, and feature economics to balance competitiveness with portfolio profitability.
Digital journeys and onboarding
- Work with technology and design teams to build and continuously improve digital and phygital onboarding journeys (branch, digibank, video-KYC, e-KYC), targeting best-in-class TAT and drop-off reduction.
- Define and test enhancements to in-app and online savings account experiences (account opening, service requests, cross-sell surfaces, activation nudges).
- Collaborate with data and CX teams to A/B test journey changes and roll out successful variants across channels.
- Drive automation and STP initiatives in onboarding and servicing to reduce manual intervention, cost-to-serve, and error rates.
- Partner with Operations and Tech to progressively reduce dependency on branch-led processes for eligible savings journeys
Sales enablement and channel support
- Drive targeted acquisition and balance growth through defined segment-led strategies and continuously track agreed business excellence metrics
- Equip branches and frontline teams with clear product pitches, segment-specific scripts, and objection-handling guides for savings accounts (mass, emerging affluent, NR, youth, senior).
- Design and run acquisition and balance-build campaigns with Branch Banking, Contact Centre, and Digital Sales, including offers, bundles, and themed drives.
- Track channel-level performance (branch, digital, DSA, corporate tie-ups) and coordinate targeted interventions with regional teams.
Portfolio analytics and insights
- Monitor key portfolio metrics: CASA balances, average balance per account, activation rates, dormancy, product-wise performance, and customer profitability.
- Build and refine dashboards and MIS for the Product Head and business leadership, highlighting trends, risks, and opportunities across customer segments and branch tiers.
- Use data to recommend micro-segmentation initiatives (e.g., salary upgradation, family banking, balance-deepening campaigns).
- Proactively flag early-warning signals (balance decay, rising dormancy, low activation cohorts) and propose corrective actions.
- Measure and track the impact of campaigns, journey changes, and feature launches versus baseline.
Compliance, risk, and governance
- Ensure all savings products, features, charges, and campaigns adhere to RBI guidelines and internal policies on KYC, AML, fair pricing, and customer communication.
- Partner with Legal, Compliance, Risk, and Operations to review new product constructs, process changes, and marketing materials.
- Support periodic audits, regulatory reviews, and remediation actions related to savings accounts.
- Ensure readiness for regulatory changes and industry transitions (e.g., KYC refresh norms, digital consent frameworks, video KYC updates)
Process improvement and customer experience
- Map end-to-end savings account customer journeys (open, fund, use, service, grow) and identify pain points from branch and digital perspectives.
- Propose and drive process simplifications that reduce TAT, errors, rework, and customer complaints (e.g., documentation, KYC refresh, account upgrades, closure).
- Coordinate with Service, Operations, and CX to implement feedback loops (NPS, VOC) and translate insights into product/process changes.
- Track reductions in customer complaints, rework rates, and repeat service requests post-process changes
Cross-functional collaboration
- Work closely with:
- Technology & Design – for digital journeys and platform builds
- Marketing – for campaigns, communication, and brand positioning of savings products
- Wealth/Insurance/Cards – to design and execute bundled propositions and cross-sell journeys
- Data & Analytics – for segmentation, targeting, and performance tracking
- Prepare periodic product reviews and decision papers for senior management and governance forums.
Qualifications and competencies
Education and experience
- Graduate with MBA or equivalent preferred.
- 5 to 8 years of experience in retail banking product management, preferably in savings accounts, liabilities, or consumer banking.
- Exposure to branch banking or frontline-facing roles is a strong plus.
Technical and functional skills
- Strong understanding of retail savings products, CASA metrics, and branch banking operations.
- Comfort with digital banking platforms, online and mobile journeys, and basic API concepts.
- Proficiency in MS Excel, PowerPoint, and analytics tools for portfolio analysis and business cases.
Behavioral competencies
- Execution-focused : Comfortable handling detailed, hands-on work across product, process, and analytics.
- Analytical : Able to interpret data and convert insights into concrete actions.
- Collaborative : Works effectively with branches and cross-functional teams, with strong stakeholder management.
- Customer-centric : Consistently thinks from the end-customer and frontline perspective when shaping solutions.
- Detail-oriented and compliant : High attention to detail on regulatory, documentation, and process aspects.
Location:
Regional Office Mumbai
Job:
Product Management
Schedule:
Regular
Employee Status:
Full time
