Product Manager - Retail Auto Finance - NBFC

Role Overview:

The Retail Product Manager will be responsible for designing, developing, and managing retail financial products and value-added programs for automobile customers across the dealer network. The role involves end-to-end ownership of product strategy, pricing, policy formulation, customer value proposition, digital journey enhancement, and cross-functional collaboration with Sales, Risk, Credit, Operations, Compliance, and OEM partners.

Key Responsibilities:

A. Product Strategy & Development:

• Develop and manage retail finance products such as New Car Loans, Used Car Loans, refinancing, top-up loans, buyback programs, balloon schemes, assured resale value programs, and other tailored financing structures.
• Conduct market research, competitor benchmarking, and customer insights to identify product opportunities.
• Conceptualize and launch new product offerings aligned with OEM retail strategy and customer buying behaviour.
• Design customer-centric value-added offerings (insurance, extended warranty finance, service package finance, accessories finance, loyalty programs).

B. Pricing, Policy & Program Management:

• Formulate product pricing, interest rate structure, schemes/subvention plans, and promotional offers.
• Build product approval notes, business cases, and policy documentation.
• Track product profitability, yield, and portfolio performance; recommend revisions to maintain competitiveness.
• Manage OEM subvention schemes and retail program rollouts across dealership networks.

C. Business Growth & Channel Support:

• Partner with regional and field sales teams to drive product penetration and loan conversion ratios.
• Conduct product training sessions for dealer finance teams, DSA's and internal sales teams.
• Monitor national/regional product performance and implement corrective action plans.
• Optimize dealer-level product adoption and ensure availability of proper product communication materials.

D. Digital Journey & Process Enhancement:

• Work with technology and digital teams to build seamless retail loan journeys, including lead management, credit decisioning automation, KYC/Video KYC, e-agreement, e-mandate, and onboarding workflows.
• Enhance customer experience by simplifying loan documentation, disbursal process, and turnaround time (TAT).
• Identify and digitize manual steps to increase productivity and reduce operational costs.

E. Risk, Compliance & Regulatory Alignment:

• Coordinate with Credit, Risk, Operations, and Compliance teams to ensure product policies are compliant with RBI & NBFC regulations.
• Conduct risk assessment for new product propositions and ensure controlled execution.
• Ensure product-level adherence to fair practices code, KYC/AML norms, data protection, and internal audit guidelines.

F. Cross-functional Collaboration:

• Liaise with OEM brand, marketing, and retail vertical to create aligned finance programs.
• Collaborate with Risk, Credit, Operations, Collections, Legal, and IT to ensure holistic product governance.
• Act as the product SPOC for all stakeholders, ensuring smooth implementation of product initiatives.

G. Analytics & Reporting:

• Track KPIs: volume, conversion rates, yield, NPAs, dealer activation, scheme performance.
• Use analytics to identify customer segments, credit behavior, and actionable insights for product refinement.

3. Key Skills & Competencies:

Technical Skills:

• Strong understanding of retail auto finance industry, automotive OEM ecosystem, and NBFC operations.
• Knowledge of loan products, underwriting norms, credit policies, and portfolio analysis.
• Understanding of digital lending, fintech integrations, API-based journeys, and LOS/LMS systems.
• Financial acumen: pricing models, P&L analysis, ROI, yield calculations, subsidy structures.

Behavioral & Functional Competencies:

• Strategic thinking with strong analytical and problem-solving skills.
• Excellent communication and stakeholder management.
• Customer-centric and data-driven approach.
• Strong project management and execution skills.
• Ability to work cross-functionally and influence without authority.
• Adaptability to fast-changing business environments.

4. Qualifications & Experience:

• Education: MBA/PGDM (Finance, Marketing, or Strategy preferred).
• Experience:

1. 8 - 12 years of experience in retail auto finance, NBFC, bank auto loans, captive finance, or product management.

2. Prior experience in product development, retail finance programs, OEM relationship management, or digital lending preferred.

• Hands-on experience in launching retail finance schemes, pricing models, and working with dealer networks.

5. Key Performance Indicators (KPIs):

• Loan volume and penetration % across dealer network.
• Product profitability, yield improvement, and program cost optimization.
• TAT improvement and customer onboarding experience.
• Dealer activation rate and scheme utilization levels.
• Portfolio quality and risk-adjusted returns.
• Adoption of digital product journeys.
• Competitive market positioning and customer satisfaction.

6. Additional Requirements:

• Willingness to travel to dealer locations as required.
• Strong understanding of regulatory guidelines for NBFC operations.
• Ability to work in a high-growth, structured, and compliance-driven environment.