Head of Credit Card Product Department

OBJECTIVES

The incumbent under the supervision of Credit Card Center Director has a large responsibility to effectively manage all core credit card products and acquisition. In this critical role, the incumbent is responsible to build and grow the core card portfolio through actions including Plastic Activation, Early Spend activation, increase the use of product features, managing customer service from product perspective etc. The incumbent also has the responsibility to devise & augment the value proposition for all core card segment & accordingly develop new product for the identified target segments and then work across multiple functions to mainstream it. The job holder is also expected to coordinate with Sales for ongoing product benefit communication in the calling scripts/ sales pitch. The role holder has to regularly scan the competition, monitor the emerging trends in consumer behavior and then distill those insights to launch a new card proposition for an identified segment. The role also includes managing the overall Core card fee income and expense lines aiming to maintain overall profitability of the card portfolio.

RESPONSIBILITIES

• Owner of CORE Cards P&L. Responsible for new card sourcing, cost of Acquisition, TOI, ENR for card products.
• Drive the new acquisitions of credit cards by liaising with all relevant departments within FEC. Responsible for maintaining customer acquisition quality and sales acquisition cost through strategic interventions and achieving new acquisition target.
• Launch of new products, new schemes, new benefits and improvements of existing products and processes aim to cater to first time card users and category entrants.
• For overall card portfolio, track and improve Plastic Activation and Early spend activation rates through improving existing processes, incentives, pricing, introducing promotions etc. Also improve the share of digital channels for Plastic Activation and Spend Activation.
• Achievement of new acquisition targets and managing cost of acquisition through strategic and tactical interventions
• Responsible for tracking all the cost and revenue lines in Credit Card P&L as per Plan.
• Launch of PL, CDL and TWL Bundled cards, improvement of processes, addition of value proposition and promotions.
• Monitoring competition activities locally and best practices/products globally to adopt the right strategies for FEC's customer segments.
• Lead, motivate and effectively manage the card product team.

REQUIREMENTS

Education

Bachelor Degree in Business with a strong track record. Prioritize for Post graduate.

Experience

A minimum of 8-10 years of relevant experience in Banking and Financial industry with a strong background in cards and payment industry.

Prior experience in managing cobranded card portfolio and partnerships is very highly desirable.

Prior experience in large MNC banks such as Citibank, HSBC, Standard Chartered, ANZ etc is a real advantage.

Skills

Very good knowledge of payments and cards business, have a very good understanding of card business financials, cobranded card dynamics (both in terms of customer behavior and cobrand partner behavior), should have experience in working with cross functional teams.

Other requirements (if any)

Strong business acumen, a skilled people manager, highly skilled in relationship management.