Assistant Vice President , Remit Product Lead, Consumer Banking Group

Business Functions

As the leading bank in Asia, DBS Consumer Banking Group is in a unique position to help our customers realise their dreams and ambitions. As a market leader in the consumer banking business, DBS has a full spectrum of products and services, including deposits, investments, insurance, mortgages, credit cards and personal loans, to help our customers realise their dreams and aspirations at every life stage. Our financial solutions are not only the best in the business they were made just right for you.

Job Purpose

• Major task will be to drive fx business in TR segment through branch and digital channel. Analyzes a combination of product usage and product performance data to derive meaningful insights that would serve as a guide to better product and decision making for our business leaders.

Key Accountabilities

• Drive remit business for all the segments
• Develop platform for inbound remittances
• Partnership with fintech for outbound remittances under Para 10 of Master Direction Miscellaneous
• New product launches : Forex Travel Card, Physical currency at key metro branches
• Optimizing the User Experience
• Adhere to financial regulations and compliance standards.

Job Duties & responsibilities

• Product development: Collaborate with cross-functional teams to conceptualize, design, and develop innovative foreign remittance products that meet customer needs and regulatory requirements
• Market Research: Conduct thorough market analysis to identify trends, competitor offerings, and customer preferences in the international money transfer landscape especially on inbound remittances, travel card, physical currency etc.
• Data Analytics: Collecting / interpreting data and report the results back to the relevant members of the business. Identify patterns and trends in data sets
• Regulatory Compliance: Ensure products adhere to relevant financial regulations and compliance standards in different regions, working closely with legal and regulatory affairs teams
• User Experience: Focus on optimizing the user experience by incorporating user feedback and leveraging design principles to enhance the usability and efficiency of foreign remittance platform
• Partnership Management: Cultivate and manage relationships with payment processors, fintech, travel companies, Education consultants and other stakeholders involved in the foreign remittance ecosystem.
• Marketing Support: Collaborate with marketing teams to develop effective campaigns and promotional materials that highlight the benefits of the foreign remittance products to target audiences
• Customer Support: Work closely with customer support teams to address inquiries, resolve issues, and gather valuable insights for continuous improvement. Establish mechanisms for collecting feedback from customers, internal teams, and external partners, using this input to refine and enhance foreign remittance offerings.
• Training: Provide training sessions and educational materials to internal teams and external partners to ensure a thorough understanding of foreign remittance products and services. Visit the branches to activate the branches on online platform and fx products

Required Experience

• 10-12 Years of experience in remittances or NR team.

Education / Preferred Qualification

• MBA or CA

Core Competencies

• Relationship management
• Data Analytics
• Training team members
• Disciplined approach
• Effective Marketing skills

Technical Competencies

• Well versed with Data Analytics Tools
• Well versed with remittances inbound and outbound arrangements.
• Worked with digital and marketing team to activate/penetrate the business segment.

Work Relationship

• Management of internal and stakeholders for acquisition and deepening of remit wallet share.
• Close interaction with Treasures Elite Team Leader, City / Cluster Head, Branch Service and Operations team to ensure consistent delivery of volume and revenue targets.
• Close interaction with Platform, marketing, ecosystem team to develop and update remittances products

DBS India - Culture & Behaviors

• Performance through Value Based Propositions
• Ensure customer focus by delighting customers & reduce complaints
• Build pride and passion to protect, maintain and enhance DBS image and reputation
• Enhance knowledge base, build skill sets & develop competencies
• Execute at speed while maintaining error free operations
• Maintain the highest standards of honesty and integrity