Portfolio Manager - Household

Job Title: Portfolio Manager- Household

Location: Mumbai
Department: Retail Banking / Product Management

Job Summary:

We are seeking a results-driven Savings Account Portfolio Manager with a strong Digital mindset & knowledge required to manage, retain, and grow the bank's existing savings account book.

The ideal candidate will be responsible for reducing account dormancy and attrition, improving average balance per customer, driving digital activation and engagement with a digital focus, managing customer experience, and cross-selling relevant products. The role involves managing and driving the retention of large deposit listings and leakage reports, while improving overall portfolio health.

Key Responsibilities:

Portfolio Health & Retention

• Monitor the existing savings account book for early warning signs declining balances, inactivity, and attrition risk.
• Flag accounts moving towards inactivity (no transactions for 3–12 months) and implement proactive outreach campaigns to prevent dormancy.
• Drive reactivation of dormant accounts by coordinating with branches and customers through deposits, withdrawals, or bill payment mandates.
• Reduce account closures by identifying triggers and designing targeted retention interventions.
• Maintain a monthly tracker on inactive/dormant account count and report portfolio health metrics to senior management.

Balance Growth & Engagement

• Drive increase in Average Monthly Balance (AMB) across the existing savings portfolio.
• Design and execute data led propensity based D2C campaigns on identified customer cohorts to encourage deepening, attrition control & digital activation.
• Build ongoing relationships and increase cross-sell opportunities — FDs, insurance, mutual funds, and credit products.
• Identify high-value customer segments and create tailored engagement strategies to deepen wallet share.

Digital Activation

• Drive digital onboarding of existing savings customers — internet banking, mobile banking, UPI, and debit card usage.
• Oversee rollout of digital banking improvements, driving uptick in online banking adoption and reducing in-branch visits.
• Collaborate with digital/tech teams to identify friction points in the digital journey and recommend improvements.

KYC & Compliance

• Ensure all activities follow KYC, AML, and regulatory protocols and maintain accurate records of interactions and transactions.
• Coordinate with branches for timely KYC refresh and documentation completion across the portfolio.
• Timely response to RBI, Board, CSC and Audit.

Knowledge Management

• Release regular knowledge series on product updates and regulatory changes for internal teams.
• Realtime Portfolio Mis and Dashboard to drive business.

Qualifications:

• Bachelor’s degree in business, Finance, or related field (MBA preferred).
• 4–6 years of experience in retail banking, preferably in deposit products or liability management.
• Strong understanding of savings account lifecycle — onboarding, activation, engagement, dormancy, and attrition.
• Excellent interpersonal skills, compliance discipline, and financial literacy.
• Proficiency in CRM tools, Excel, and MIS reporting; familiarity with Power BI is a plus.
• Strong analytical, communication, and project management skills.
• Knowledge of RBI guidelines on inoperative/dormant accounts and KYC norms.

Key Performance Indicators (KPIs):

• Reduction in dormant and inactive account count (month-on-month).
• Growth in Average Monthly Balance (AMB) & RV of existing book by digital engagement.
• Digital activation rate — mobile/internet banking and UPI adoption.
• Cross-sell revenue from existing savings customers (FDs, insurance, credit products).
• KYC compliance rate and documentation accuracy across the portfolio.
• Channel Engagement to drive hygiene & business.
• Reduction in customer attrition.
• Stakeholder management to collaborate and drive business parameters for growth of portfolio.