Analyst, Product Manager Schemes, Consumer Banking Group

Business Function

DBS Bank has been present in India for over 30 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to operate as a wholly owned, locally incorporated subsidiary of a leading global bank. As a trusted partner, DBS provides a comprehensive range of banking services for large, medium, and small enterprises, as well as individual consumers, focusing on seamless customer experiences that help customers "Live more, Bank less."

As the leading bank in Asia, DBS Consumer Banking Group is uniquely positioned to help customers realize their dreams and ambitions. As a market leader in the consumer banking business, DBS offers a full spectrum of products and services, including deposits, investments, insurance, mortgages, credit cards, personal loans, and government-backed financial inclusion initiatives, helping customers achieve their financial aspirations at every life stage.

Job Purpose

The Product Manager - PM Schemes will be responsible for driving the end-to-end management, performance, compliance, and lifecycle administration of Government-backed social security schemes including Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY).

The role requires close collaboration with business, operations, technology, insurance partners, and regulatory bodies to ensure seamless customer experience, operational efficiency, regulatory compliance, and sustainable business growth across all PM Schemes.

Key Accountabilities

• Manage the complete lifecycle of PMJJBY, PMSBY, and APY products across acquisition, servicing, renewals, claims, and reporting.
• Drive scheme penetration and sales performance across branches by monitoring targets and productivity metrics.
• Enhance and manage bank systems and digital platforms supporting PM Scheme processes and customer journeys.
• Ensure seamless integration and compliance with Government and regulatory portals including the Jan Suraksha Portal.
• Collaborate with Operations teams to ensure smooth execution of renewals, premium collections, policy activations, and customer servicing.
• Manage relationships with insurance partners and vendors to ensure efficient service delivery and claims management.
• Ensure compliance with RBI regulations, Ministry of Finance guidelines, PFRDA requirements, and internal bank policies.
• Deliver timely management reporting, business analytics, and regulatory submissions.
• Drive customer satisfaction through effective grievance management and timely resolution of customer concerns.

Job Duties & Responsibilities

• Manage product enhancements, system upgrades, and process improvements related to PM Schemes within internal banking platforms.
• Design and implement efficient customer onboarding, enrollment, servicing, and claims processes.
• Coordinate with Technology and Operations teams to support digital and branch-led enrollment journeys.
• Monitor branch sales performance and drive achievement of business objectives through regular reviews and engagement.
• Conduct product training and capability-building sessions for branches and sales teams.
• Work closely with Business Correspondents (BCs) to improve outreach and customer enrollment across geographies.
• Monitor policy issuance, premium collections, remittances, and policy activations with insurance partners.
• Ensure adherence to agreed service standards and turnaround times for claims servicing and grievance resolution.
• Prepare and submit regulatory reports and business MIS to RBI, Ministry of Finance, DFS, and internal management stakeholders.
• Develop dashboards and analytics to provide actionable business insights and performance monitoring.
• Manage customer grievances through Jan Suraksha Portal and ensure timely closure of complaints.
• Oversee the complete APY lifecycle including PRAN generation, contribution management, fund remittances, upgrades, downgrades, exits, and account closures.
• Ensure all operational activities are conducted in line with regulatory requirements, audit expectations, and governance frameworks.

Requirements

• Experience in Banking, Financial Services, Insurance, or Product Management functions.
• Strong understanding of Government social security schemes, banking products, and customer servicing processes.
• Experience in process design, workflow management, and system implementation initiatives.
• Strong analytical skills with exposure to MIS, reporting, and business performance monitoring.
• Knowledge of regulatory and compliance requirements applicable to banking and Government schemes.
• Experience in stakeholder management across business, operations, technology, and external partners.
• Strong customer orientation with a focus on operational excellence and service delivery.

Education / Preferred Qualifications

• Graduate in Finance, Business Administration, Commerce, Economics, or related discipline.
• Postgraduate qualification in Marketing, Finance, Banking, or equivalent preferred.

Core Competencies

• Product & Process Management
• Business Performance Management
• Stakeholder & Vendor Management
• Analytical & Problem-Solving Skills
• Customer-Centric Mindset
• Communication & Training Capabilities
• Project Management & Execution Excellence
• Attention to Detail & Governance Focus

Technical Competencies

• Understanding of banking products and Government welfare schemes.
• Knowledge of PMJJBY, PMSBY, APY, and associated regulatory guidelines.
• Understanding of RBI, Ministry of Finance, DFS, and PFRDA regulations.
• Experience with MIS reporting, dashboard creation, and business analytics.
• Knowledge of digital onboarding systems, workflow management, and process automation.
• Familiarity with operational risk, audit, KYC, and compliance frameworks.

Work Relationship

• Close interaction with Retail Banking, Operations, Technology, Compliance, and Customer Service teams.
• Regular engagement with Insurance Partners, Government Agencies, and Regulatory Bodies.
• Collaboration with Branch Banking channels and Business Correspondents to drive scheme penetration and customer acquisition.
• Partnership with Data, Analytics, and Reporting teams to monitor business and regulatory performance metrics.

DBS India – Culture & Behaviours

• Demonstrate business performance through PRIDE 2.0 value-based propositions.
• Ensure customer focus by delighting customers and reducing complaints.
• Build pride and passion to protect, maintain, and enhance DBS’s reputation.
• Continuously enhance knowledge, skills, and competencies.
• Execute with speed while maintaining operational excellence and accuracy.
• Uphold the highest standards of honesty, integrity, governance, and professionalism.

Location:

Mumbai

Job:

Product Sales

Schedule:

Regular

Employee Status:

Full time