Manager – Retail Product

Key Responsibilities

1. Product Knowledge & Development

Deposit Products

• Manage the full lifecycle of deposit products including Savings, Current, Fixed, and Recurring Deposits.
• Define and maintain competitive interest rate structures and customer-friendly product features.
• Ensure compliance with all regulatory requirements (KYC, AML, FATCA, CBO guidelines).
• Develop linked product features (e.g., overdraft facilities, bundled offers) to enhance customer value proposition.

Loan Products

• Oversee diverse lending products such as Personal Loans, Home Loans, Auto Loans, Education Loans, and Business Loans.
• Design and manage pricing models, interest rate structures (fixed/variable), APR calculations, and repayment terms.
• Develop policies for prepayment, restructuring, and special loan programs while ensuring compliance with lending caps and fair lending practices.

Bancassurance

• Collaborate with insurance partners to design, launch, and manage bancassurance products across life, health, and general insurance categories.
• Ensure alignment of insurance offerings with customer needs and bank's sales strategy.
• Monitor partner performance against agreed SLAs and revenue targets.

2. Strategic Initiative Management

• Lead product innovation and enhancements to strengthen the bank's competitive position in deposits, loans, and bancassurance.
• Develop product roadmaps, integrating market trends, customer feedback, and regulatory developments.
• Launch new products and process improvements to support sales teams in achieving revenue and profitability targets.
• Implement targeted campaigns for customer acquisition, retention, and cross-sell opportunities.

3. Market Analysis & Customer Insights

• Conduct competitor benchmarking to identify gaps and opportunities in the deposit, lending, and bancassurance markets.
• Segment customers to develop tailored propositions for retail, mass affluent, and priority banking clients.
• Leverage customer analytics to identify usage patterns and develop strategies for deeper engagement.
• Implement feedback loops to drive continuous improvement in product features and service delivery.

4. Sales Enablement & Marketing

• Develop
  Customer Lifecycle Management (CLM)
  strategies to increase product penetration and deepen wallet share.
• Support branch, direct sales, and digital teams with training, sales tools, and product knowledge.
• Collaborate with marketing teams to develop GTM strategies for new and revamped products, using digital, SMS, email, and branch-based campaigns.
• Create compelling product positioning, segmentation, and messaging aligned with the bank's brand strategy.

5. Financial Performance & Pricing

• Own the P&L for deposit, lending, and bancassurance portfolios, ensuring profitability targets are met.
• Develop competitive pricing and interest rate strategies balancing customer value with profitability.
• Monitor KPIs such as net interest margin, loan-to-deposit ratio, fee income, and product-level ROI.

6. Compliance & Governance

• Ensure products and processes comply with all relevant regulatory and internal policy requirements.
• Prepare and present product performance and compliance reports to internal committees and regulatory bodies.
• Maintain readiness for internal audits and regulatory inspections.

7. Digital & Process Innovation

• Collaborate with technology teams to improve digital onboarding for deposits, loans, and bancassurance.
• Enhance self-service and paperless processing capabilities to improve customer experience and reduce operational costs.
• Explore partnerships and fintech integrations to strengthen digital offerings.

Required Qualifications & Skills

• Education:
  Bachelor's degree in Business, Marketing, Finance, or related field (Master's preferred).
• Experience:
  Minimum 8–10 years in retail banking product management, with direct experience in deposits, loans, and bancassurance.
• Banking Knowledge:
  Strong understanding of retail banking operations, product structures, compliance requirements, and market trends.
• Strategic Skills:
  Ability to develop long-term product strategies and execute them effectively.
• Analytical Skills:
  Data-driven decision-making with strong problem-solving abilities.
• Collaboration:
  Experience working with cross-functional teams including sales, marketing, compliance, and technology.
• Communication:
  Excellent presentation, influencing, and stakeholder management skills.
• Digital Mindset:
  Familiarity with digital banking platforms, online onboarding, and customer engagement tools.