Product Manager- Inclusive Banking Initiatives Grp - Mumbai

Job Purpose

The role of Product Manager - IBIG will need to drive business to achieve the mandated targets, manage the business activity end-to-end, channel management, stakeholder management, regulatory reporting, compliance, process management and delivery, portfolio quality and maintenance, etc. It will involve a limited interaction with regulators (DFS / UIDAI / NPCI / PFRDA / IBA / RBI) and channel partners (vendors / insurance partners).

Each product manager will be responsible for all aspects of the product and process management and will handle one or more of these product segments :

1. Aadhaar Enrolment Centres
2. Aadhaar enrolment centre UIDAI Key Projects & Compliance
3. Regulatory Reporting, SLBC / LDM interactions and MIS, PMJJBY and PMSBY
4. National Pension System (NPS) product and channel management 
5. NPS process and compliance to regulatory requirements and audits
6. Financial Literacy Initiatives
7. Aadhaar Applications, Micro-ATM, e-KYC and Aadhaar Compliance
8. Aadhaar product and processes, digital channels
9. Atal Pension Yojana (APY)
10. Mudra ,Stand Up India and GSP

Job Responsibilities(JR)

• Business Initiative and Channel Management and activation
• Branches / Channel Management: Allocate target to the branches and channels and; drive its achievement through intense and periodic interactions at all levels to ensure total ownership and involvement. Support and update on the drive through regular MIS. Facilitate the target achievement for channels through seamless processes and digital methods to minimize cost and maximize revenue. Ensure achievement of regulatory targets to put the Bank in a leading position vis--vis competition. These targets are on all critical DFS initiatives i.e. PMJDY / FI / PMJJBY / PMSBY / APY / NPS / Mudra / Aadhaar Enrolment Centres, etc.
• Institutional Sales: Identify avenues for bulk sourcing like corporate specific campaigns, camps, focused methods to capitalise on high footfall areas with the right catchment identification, etc.
• Aggregators / Innovations: Explore the opportunity to source business through external aggregators and use innovative strategies to achieve targets.
• Contests / Events: Ensure all the business drives and events announced by Regulators are communicated to sourcing channels and momentum is tracked. Propose and implement Sales contests for the channels to encourage sourcing / customer enrolment.
• Incentives for SOs / Channel partners: Devise incentive schemes for SOs / Channel partners of various channels to ensure a push / drive.

Digital Promotions

• Campaigns on Digital Channels: Promotional campaigns and enrollment drives to be run on Digital Channels like NetBanking, response e-mailer to touch base with large audience and ensure incremental subscriptions
• New Digital Channels: With the ever evolving digital avenues, options to be explored for reaching out to larger and larger base for getting incremental enrollments.

Marketing and Visibility

• Branches - Create high visibility for the product in the branches through support of collaterals from the marketing team.
• Digital Explore digital avenues like scroll on website, NetBanking, Social Media, screen savers, ATM screens, etc to highlight the products  to ensure high recall
• Campaigns Initiate campaigns like Product of the Month, Did You Know to popularize the scheme and the associated processes

Compliance 

• External Audit: Handle regulatory audits conducted annually and ensure no critical exceptions / demerits are highlighted.
• Process monitoring: Monitor the various processes for adherence to the signed off note or regulatory guidelines. New process required for any new initiative, model introduced by Regulators to be prepared and closed with the stake holders.
• TAT Monitoring: Various activities have a TAT defined by the regulators and is also audited by them. Hence the TAT to be checked very closely and any gap to be investigated and process improvement as required to be put in place.
• Monthly / Quarterly / Half-yearly / Annual Compliance Reports: Preparation of specific compliance reports including analysis of TAT of account opening, remittances, resolution of grievances and processing of non-financial transaction requests made by the customers. 

Quality and Critical Parameters Monitoring

• Rollout of processes for daily operations / seamless processing of products / initiatives across all channels.
• Ensuring branch / channel compliance as per the regulatory guidelines time to time
• Display of notices / posters / IEC material as per DFS/UIDAI/PFRDA guidelines
• Releasing of summary reports and MIS to all channel holders.
• Training-ELearning/Audio Bridge/Personal visits to branches and meetings with stake holders
• Limited Interface with regulators at intervals.
• Audit compliance/Quality control
• Performance monitoring and facilitating increase in daily enrolments through weekly Audio Bridge and concalls with the teams.

Complaints and Queries

• TAT: Ensure all the complaints and queries are attended and resolved within TAT
• Analysis – Study the nature of complaints to find root cause and highlight to BTG / Operations for any system / process related gaps which have lead to the complaint
• Regulatory portal Complaints - Ensure all the grievances on Regulators website are resolved and updated on daily basis.

System Enhancements

• Product features - Understand various new product features, processes and customer options / facilities introduced by Regulators and; initiate enhancement requirement with BTG / IT along with buy-in from other stake holders like Branch, Operations,  Audit, ISG, etc.
• Process Improvement - Identify system enhancements which can refine the process, User/ customer experience and initiate development in discussion with all stake holders like Branch, Operations and BTG

Knowledge Sharing and Training :

• Design e-learning modules for initiatives handled to provide 24X7 access to branches / channels.
• Arrange training for Pan India locations in liaison with HR.
• Ensure continuous training to all stakeholders including nomination for regulatory trainings.
• Knowledge sharing and success stories sharing – Pan India.
• Supporting teams Pan India on material/ knowledge.
• To ensure that knowledge sharing is promoted digitally through Banks website / email / SMS etc.