Product Manager-Retail FX/Remittances

IDFC FIRST Bank; Mumbai; On-site; INR 1,400,000 - 2,100,000; Full time

Job summary

IDFC FIRST Bank in Mumbai is seeking a Product Manager to lead Retail FX and Remittance services, owning the product roadmap and feature delivery.

You will work cross-functionally with Operations, Technology, BI, and Marketing to drive engagement, optimize processes, and ensure regulatory compliance with RBI/FEMA, AML/KYC norms.

Strong analytical skills, BI dashboard interpretation, and proficiency in Excel/PowerPoint are essential.

Qualifications

• Graduate in Finance/Commerce/Economics; MBA/PGDM preferred.
• Strong knowledge of cross-border payment systems, RBI guidelines, FEMA regulations, AML/KYC norms.
• Analytical and data-driven with ability to interpret BI dashboards.
• Excellent communication, stakeholder management, and problem-solving skills.

Responsibilities

• Define and execute the product roadmap for retail FX and remittance services.
• Drive product enhancements based on market trends, customer insights, and competitive analysis.
• Ensure seamless integration of new features and digital capabilities.
• Develop strategies to increase engagement, conversion, and transaction volumes.
• Identify opportunities for process automation and cost optimization.
• Collaborate with Operations, Technology, BI, and Marketing to deliver innovative solutions.
• Track product performance against defined KPIs and prepare dashboards and reports for senior management with actionable insights.

Skills

Retail FX

Remittance products

Cross-border payments

Regulatory compliance

BI dashboards

Stakeholder management

Education

Graduate in Finance/Commerce/Economics

MBA / PGDM preferred

Tools

MS Excel

PowerPoint

APIs

Job description

Job Requirements

Key Responsibilities

• Product Lifecycle Management

Define and execute the product roadmap for retail FX and remittance services.

Drive product enhancements based on market trends, customer insights, and competitive analysis.

Ensure seamless integration of new features and digital capabilities.

• Strategic Development & Optimization

Develop strategies to increase engagement, conversion, and transaction volumes.

Identify opportunities for process automation and cost optimization.

Implement initiatives to improve customer experience and reduce turnaround time.

• Compliance & Risk Control

Ensure strict adherence to the RBI, FEMA. AML/KYC and other regulatory guidelines.

Conduct periodic compliance reviews and risk assessments.

Implement regulatory changes promptly in coordination with legal, risk and compliance teams.

• Cross-Functional Collaboration

Work closely with Operations, Technology, BI, and Marketing to deliver innovative solutions.

Partner with external vendors and payment networks for product enhancements.

• Performance Monitoring & Reporting

Track product performance against defined KPIs.

Prepare dashboards and reports for senior management with actionable insights.

Required Skills & Competencies

Strong knowledge of retail FX and remittance products (Inward, Outward, Forward).

In-depth understanding of cross-border payment systems, RBI guidelines, FEMA regulations, AML/KYC norms.

Analytical and data-driven approach with ability to interpret BI dashboards.

Excellent communication, stakeholder management, and problem-solving skills.

Proficiency in MS Excel, PowerPoint; familiarity with digital payment platforms and APIs is a plus.

Qualifications & Experience

Education

• Graduate in Finance/Commerce/Economics; MBA / PGDM preferred
• Strong knowledge of cross-border payment systems, RBI guidelines, FEMA regulations, AML/KYC norms.

Experience

• Minimum3-5+ yearsof relevant experience in Retail FX, Remittances, or Product Management within the BFSI sector.
• Key Performance Indicators (KPIs):
• Business Growth - Transaction volume and revenue growth.
• Customer Experience - Customer satisfaction (CSAT) and Net Promoter Score (NPS).
• Operational Metrics – Average TAT for remittance transactions & Error rate in transaction processing
• Zero regulatory breaches and timely compliance updates.
• Digital adoption rate and process efficiency improvements.
• Team development and training completion rates.