Product Manager - Rural Initiatives

Job Requirements Role Purpose

The Product Manager - Rural Initiatives will be responsible for conceptualizing, designing, and implementing strategic rural business programs aimed at driving overall business growth, increasing customer engagement, and maximizing cross-sell opportunities across the Rural Assets portfolio. The role will work closely with Rural Lending, Liabilities, Product, Sales, Analytics, Operations, and Technology teams to identify business opportunities, solve key business challenges, and execute scalable initiatives that enhance customer acquisition, portfolio growth, and profitability.

Key Responsibilities

Rural Business Growth & Strategic Initiatives

• Identify business challenges, opportunity areas, and growth levers across Rural Banking businesses.
• Analyze customer, portfolio, and sales data to derive actionable insights and recommend business improvement initiatives.
• Design and implement programs to increase disbursements, customer penetration, productivity, and overall business volume.
• Develop scalable initiatives to improve customer acquisition, activation, retention, and engagement.

Cross-Sell Program Development

• Design and drive cross-sell programs for existing Rural Asset customers.
• Increase penetration of Liability products such as:
• Current Accounts (CA)
• Savings Accounts (SA)
• Term Deposits (TD)
• Credit Cards
• Insurance
• Investment Products
• Other Bank Products
• Develop customer lifecycle-based campaigns to improve product holdings per customer.
• Work with channel and sales teams to ensure effective execution of cross-sell initiatives.

Internal Product Synergy & Portfolio Deepening

• Drive cross-sell of Rural Asset products across various lending businesses including:
• Microfinance (JLG)
• Affordable Mortgage Loans
• Loan Against Property (LAP)
• Unnati MBL Loans
• Other Rural Asset Products
• Identify opportunities for deeper customer engagement across product categories.
• Develop customer segmentation strategies to improve wallet share and customer profitability.

Stakeholder Management

• Work closely with Rural Assets Product Heads, Sales Teams, Liability Teams, Marketing, Analytics, Operations, Technology, and Strategy teams.
• Act as a central coordinator for implementation of rural growth initiatives.
• Drive alignment across business functions to ensure timely execution of projects.

Program Design & Execution

• Conceptualize and execute business campaigns, sales contests, customer engagement programs, referral initiatives, and activation drives.
• Define eligibility criteria, tracking mechanisms, and success metrics for each initiative.
• Monitor program performance and recommend corrective actions where required.

Analytics & Business Insights

• Conduct business analysis to identify trends, gaps, and improvement opportunities.
• Develop dashboards and MIS reports to monitor initiative outcomes.
• Track business performance across regions, branches, products, and customer segments.
• Present recommendations and business reviews to senior management.

Process Improvement & Digitization

• Collaborate with IT and Digital teams to automate processes and improve customer journeys.
• Develop technology-enabled solutions for lead management, customer engagement, cross-sell tracking, and sales productivity.
• Drive process simplification and operational efficiency initiatives.

Training & Change Management

• Support sales and business teams through training and awareness programs related to rural initiatives.
• Ensure effective communication and adoption of new programs across regions.
• Create sales toolkits, program guides, and implementation frameworks for field teams.

Key Performance Indicators (KPIs)

• Incremental Rural Business Growth
• Cross-Sell Revenue Contribution
• Asset-to-Liability Conversion Rate
• Liability Acquisition from Rural Asset Customers
• Product Per Customer Ratio
• Campaign ROI
• Customer Activation Rate
• Portfolio Deepening Metrics
• Number of Successful Rural Initiatives Launched
• Incremental Disbursement Volumes
• Active Cross-Sell Leads Generated
• Revenue and Profitability Impact of Initiatives

Desired Candidate Profile

Education

• MBA/PGDM from a reputed institute preferred.
• Bachelor's degree in Business, Finance, Economics, Engineering, or related field.

Experience

• 5 to 10 years of experience in Product Management, Rural Banking, Lending, Business Strategy, Cross-Sell Programs, Sales Excellence, Analytics, or Business Development.
• Experience in Retail Banking, Rural Banking, Microfinance, Agri Finance, or Financial Services preferred.
• Strong exposure to customer acquisition, portfolio growth, and business program management.

Skills Required

• Strong analytical and problem-solving skills.
• Expertise in business strategy and program management.
• Understanding of Rural Banking and Lending products.
• Knowledge of Liability products and customer deepening strategies.
• Data-driven decision-making capabilities.
• Excellent stakeholder management and communication skills.
• Ability to drive projects across multiple teams and functions.
• Advanced Excel, Power BI, MIS, and presentation skills preferred.

Preferred Background

Candidates from Banks, NBFCs, Microfinance Institutions, Rural Lending Organizations, Business Banking, Retail Banking Strategy, Sales Excellence, Product Management, or Analytics functions with a strong track record of driving rural business growth, customer deepening, and cross-sell programs will be preferred.