Product Manager

About the company

DCB Bank is a new generation private sector bank with 442 branches across India.It is a scheduled commercial bank regulated by the Reserve Bank of India. DCB Bank's business segments are Retail banking, Micro SME, SME, mid-Corporate, Agriculture, Government, Public Sector, Indian Banks, Co-operative Banks and Non-Banking Finance Companies.

Job Description

Role- Product Manager- Education Loans

Grade- Upto AVP

CTC- Upto 20 Lacs

Location- Lower Parel, Mumbai

We are seeking an experienced Product Manager to lead and manage our education loan products within the bank. This role involves shaping the strategy, development, and performance of our education loan offerings, ensuring they meet market needs while adhering to regulatory standards. The successful candidate will blend financial acumen with strategic vision to enhance our education loan portfolio and drive growth.

Key Responsibilities:

1. Product Strategy and Development:

- Define and implement the strategy for the education loans product line, aligning with the bank's overall strategic objectives.

- Develop new education loan products and features, enhancing existing offerings to better serve customers and remain competitive.

- Conduct market analysis to identify customer needs, industry trends, and competitive positioning.

2. Product Lifecycle Management:

- Oversee the entire product lifecycle, from ideation through to launch and ongoing management.

- Collaborate with cross-functional teams, including credit risk, compliance, marketing, and technology, to ensure successful product execution.

- Monitor product performance, manage updates and enhancements, and drive continuous improvement.

3. Customer and Market Insights:

- Gather and analyze feedback from customers, industry reports, and market research to drive product innovation and ensure customer satisfaction.

- Develop customer personas and journeys to better understand and anticipate their needs and pain points.

4.Regulatory and Compliance Oversight:

- Ensure that all education loan products adhere to banking regulations, compliance standards, and internal policies.

- Stay informed about changes in financial regulations and adjust product offerings accordingly.

5. Stakeholder Management:

- Work closely with internal stakeholders, including senior management, sales teams, and customer service, to align product strategies with business objectives.

- Manage relationships with external partners, such as educational institutions and regulatory bodies, to expand product reach and maintain compliance.

6. Performance Monitoring and Reporting:

- Track key performance indicators (KPIs) for education loan products, such as loan origination volumes, default rates, and customer satisfaction.

- Prepare and present performance reports and recommendations to senior management, highlighting achievements and areas for improvement.

7. Innovation and Market Adaptation:

- Drive innovation in education loan products by exploring new technologies, customer needs, and market opportunities.

- Adapt product strategies based on emerging trends and customer feedback to maintain a competitive edge.

Qualifications:

- Bachelor's degree in Finance, Business Administration, Economics, or a related field; MBA or advanced degree preferred.

- 4+ years of experience in product management within the banking or financial services industry, with a focus on loans or credit products.

- In-depth knowledge of the education finance sector, including loan types, regulatory environment, and market dynamics.

- Proven track record of successful product management and execution, with strong analytical and problem-solving skills.

- Excellent communication and interpersonal skills, with the ability to work effectively with diverse teams and stakeholders.