Product Head

Job Objective

To lead product development activities, develop and implement training modules, help establish collaborations & partnerships, do market analysis and monitor business growth to enhance the profitability and quality of the product portfolio and to ensure alignment with overall business strategy and vision of the Bank.

A. Primary responsibilities

Strategic and planning
• Assist the Head Retail Assets in developing loan product including pricing in line with the overall strategy of the Bank.
• Provide inputs to the division budget and regularly monitor performance against plans.
• Conduct market research, including competitor analysis,

Functional

Product Roadmap
• Identify customer needs through market data
• Development of new products which are suitable for the market
• To come up with Product vision & strategy to create benefits and value for a customer
• Create a plan for the product team to achieve desired market penetration
• Conduct Periodic product reviews based on customer experiences
• Observe the competition closely so that we can inculcate the best features from them.
• Responsible for Elimination Decisions - Modification of the existing product in line with the needs of the organization and business environment.

Quality
• Monitor & ensure portfolio quality
• Keeping delinquency within the limits stipulated in the product approval notes
• Ensuring PDD collections
• Ensuring no audit items are open for more than 30 days

Market share
• Increase customer engagement to improve market share in the respective product category.
• Aim for geographical expansion

Financials
• Maintain average yield of the portfolio
• Fee income to be achieved.
• Ensure Cost optimization
• Responsible for P & L Management by contributing to the bottom line

Innovation & Initiatives
• Come up with Unique marketing initiatives
• Reduce end to end TAT

Internal process
• Ensure that all activities are carried out as per standard operating procedures

People development
• Ensure productivity of teammates
• Have a Career Plan for teammates
• Ensure adherence to timelines for completion of performance appraisal for self & team.
• Take responsibility for identification of training needs and completion of mandatory training programs/certifications for self & Team