Head of Product Management

4 weeks ago


Thiruvananthapuram, India Muthoot Fincorp Ltd. Full time

National Product Head - Wealth

Function/Department: Wealth Management LOCATION: Trivandrum, Kerala


ROLE SUMMARY

The National Product Head of Wealth Channel at Muthoot Fincorp Limited (MFL) is responsible for developing, implementing, and managing the product strategy for the wealth management division of the NBFC. This role involves overseeing the entire product lifecycle, from conception and development to marketing and performance monitoring. The position requires collaboration with various internal teams, external partners, and stakeholders to drive growth and ensure the product offerings align with market demands and regulatory requirements.


KEY RESPONSIBILITIES

Product Strategy Development

  1. Define and execute the product strategy for the wealth management division
  2. Identify market trends, customer needs, and competitive landscape to shape product offerings.
  3. Develop and implement product roadmaps and go-to-market strategies.
  4. Oversee the development of new wealth management products, including mutual funds, portfolio management services, structured products, and insurance-linked investment products.
  5. Manage the existing product portfolio, ensuring it meets the evolving needs of clients and complies with regulatory requirements.
  6. Conduct market research and competitive analysis to identify opportunities and threats.
  7. Gather and analyze customer feedback to improve product features and service quality.
  8. Work closely with the sales and marketing teams to understand customer needs and preferences

Performance Monitoring and Reporting

  1. Monitor product performance metrics, including sales, profitability, and customer satisfaction.
  2. Prepare and present detailed product performance reports to senior management.
  3. Implement necessary adjustments based on performance data and market feedback.

Regulatory Compliance

  1. Ensure all products comply with regulatory requirements and industry standards
  2. Stay updated with changes in regulations and implement necessary changes to product offerings.
  3. Coordinate with legal and compliance teams to address any compliance issues.

Stakeholder Management

  1. Lead and mentor a team of product managers and analysts.
  2. Foster a collaborative environment within the wealth management division.
  3. Coordinate with various departments, including sales, marketing, operations, and IT, to ensure smooth product execution and support.
  4. Build and maintain relationships with key clients, partners, and stakeholders.
  5. Engage with high-net-worth individuals (HNWIs) and institutional clients to gather feedback and identify new opportunities.
  6. Represent the company at industry events, conferences, and seminars


KEY DECISIONS TAKEN

*Streamlining the organizational structure, investing in digital platforms and tools, and enhancing the client experience and satisfaction.

*Implement a performance-based compensation system for all wealth managers, based on their revenue generation, client retention, and compliance standards.

*Reward the top performers with higher bonuses and incentives, while also holding the underperformers accountable for their results.


EDUCATION / EXPERIENCE

  1. MBA from Tier-1/Tier-2 Institutes
  2. Experience: At least 15 years of relevant experience in wealth management or financial services, with a proven track record of managing large teams and growing businesses.



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