Product Officer | HNI Banking

Role Objective

Product Officer- HNI shall be primarily responsible for developing various products and proposition for the high net-worth individual segment. The HNI proposition would cover liabilities (SA and Deposits), mortgages and third-party proposition. The emphasis would be for resident and non- resident customers covering the entire spectrum and variants under the liability and asset proposition. Familiarity with Non-Resident Indian product proposition would also be required.

The role shall require developing an end-to-end solution and entire policies and procedures for launch of any product. The role shall also be responsible for driving revenue stream through sale of products in India and overseas markets and develop strategies for maximum build ups.

The incumbent would also be required to augment the existing liabilities products and proposition and introduce new variants/features through partnerships and in-house development. Coordinating with partners and sales team for sale of third-party products like Mutual Funds, Insurance and Wealth Management.

The role is quite vast and covers the entire gamut of retail banking (including asset and liabilities) proposition that is expected to be driven by the job profile. The product manager shall be responsible for developing products under guidance from Head-HNI Banking and in line with local/global requirements. The role shall involve a review of the existing product and making changes as per regulatory guidelines and market requirements. Solutions provided to the customer should be within the policy and prescribed security and credit controls.

Role and Responsibilities
• Develop and drive the HNI Banking proposition covering liabilities, mortgages and managing third party relationships.
• Drive NRI proposition in the HNI segment for overseas branches
• Engage with overseas locations for maximizing business and volumes through new product developments and review the existing.
• Responsible for implementing innovative strategies by a detailed analysis of market opportunities, customer segmentation, competition analysis in line with overall business objectives and customer requirements.
• Develop system-based solutions through direct banking channels.
• Works closely with the Department Head for review of products launched and to be launched and work on the cost and profitability budgets.
• Develop entire end to end process for new product launch and review and make process for existing product lines.
• Work in close coordination with Operations team, IT, Front office team on developing proposition including testing the proposition before a launch.
• Ensure a complete engagement with RMs, ROs and Overseas Teams on a regular basis. Track performance on business objectives & drive intervention strategies for achievement of objectives.
• Work in close coordination with Department Head and other units in case of innovative product launch as per customer requirement. Tie-up with other divisions, external companies to bundle assets proposition.

Education, Experience and Skills Required
• University degree with 5 – 8 years of related experience with a minimum of 3 years in a similar position, MBA or professional qualification viz. CA, ICWAI, CFA, CS preferred.
• Should be well versed with regulatory guidelines (RBI/IBA and related regulators).
• Knowledge of NRI proposition is a must and would prefer some experience in the NRI team with a reputed bank.
• Needs to have good understanding of broad spectrum of Liabilities and Assets
• Candidate must have fair knowledge of third-party products to drive alliance relationships and grow the business.
• Candidate must be willing and capable of working as an individual contributor developing proposition with an understanding of the markets.
• Good interpersonal skills, communication skills both written and oral and a pleasing personality.
• Should be well versed with basic computer skills.