Product Head - Current Account - Retail Banking

Job Description:

Product Head - Current Account

Location: Chennai

Department: Retail Banking - Liabilities

Grade: Based on Experience

Role Purpose:

The Product Head - Current Account will be responsible for driving the overall Current Account product strategy, portfolio growth, profitability, and customer acquisition. The role involves developing innovative liability products, enhancing value propositions for business banking customers, managing product lifecycle, and working closely with Sales, Digital, Operations, Risk, Compliance, and Technology teams to achieve business objectives.

Key Responsibilities:

Product Strategy & Management:

- Define and execute the Current Account product roadmap aligned with the bank's liability growth strategy.

- Develop customer-centric Current Account products for Retail, SME, Business Banking, and Corporate segments.

- Manage the complete product lifecycle from ideation to launch and continuous enhancement.

- Monitor product performance and implement initiatives to improve portfolio profitability.

Business Growth:

- Drive Current Account acquisition, balances, and fee income.

- Develop pricing, bundling, and value propositions to increase customer engagement.

- Identify new market opportunities and partnerships for business expansion.

- Work closely with sales teams to achieve CASA and liability targets.

Product Innovation:

- Launch innovative digital Current Account offerings.

- Introduce value-added services such as payment solutions, collections, cash management, merchant solutions, and API banking.

- Benchmark products against competitors and identify market gaps.

Financial Management:

- Own product P&L and ensure sustainable profitability.

- Monitor product KPIs including Current Account acquisition, Average balances, CASA growth, Fee income, Customer activation, and Portfolio profitability.

- Recommend pricing revisions and business strategies based on market dynamics.

Stakeholder Management:

- Collaborate with Sales, Operations, Technology, Digital Banking, Risk, Compliance, Marketing, and Finance teams.

- Coordinate product launches and implementation across channels.

- Work with external fintech partners and payment ecosystem players.

Regulatory & Compliance:

- Ensure adherence to RBI regulations and internal governance standards.

- Implement product controls and risk mitigation measures.

- Manage audit observations and regulatory requirements.

Customer Experience:

- Improve onboarding journeys and digital account opening processes.

- Enhance customer engagement through product features and service offerings.

- Drive customer retention initiatives using analytics and feedback.

Desired Candidate Profile:

Education:

- MBA / PGDM in Finance or Marketing

- CA preferred (optional)

Experience:

- 10-15 years of experience in Retail Banking, Liability Products, or Product Management.

- Minimum 5 years of experience managing Current Account or CASA products.

- Experience in digital banking products and liability portfolio management is highly preferred