Senior Product Manager-Credit Cards

Senior Manager – Affluent Portfolio Management and VAS Products across Cards Portfolio

Location: Mumbai

Function: Credit Cards | Affluent Portfolio Management

About the Role

We are looking for a commercially oriented portfolio and customer lifecycle manager to help grow, deepen and manage our Affluent Credit Cards franchise.

The role will own portfolio performance across acquisition, activation, usage, spend intensity, balances, monetisation, retention, attrition and portfolio health. It will also have horizontal ownership of Add-on Cards and Referral Cards, building both into scalable acquisition and relationship-deepening businesses across the credit card portfolio.

This is a business and portfolio management role at the intersection of customer strategy, analytics, economics and cross-functional execution. We are open to candidates from banking as well as other customer-led industries such as fintech, payments, loyalty, travel, hospitality, e-commerce, telecom, subscriptions, retail and consumer technology.

Key Responsibilities

1. Affluent Portfolio Growth and Performance

• Own affluent portfolio performance across acquisition, activation, activity, spends, spend per active card, balances, lending, retention and attrition.
• Track performance by product, customer cohort, acquisition channel, vintage and lifecycle stage.
• Identify opportunities to improve share of wallet, primary-card behaviour, spend frequency and overall customer value.
• Develop differentiated growth plans for mature, emerging and newly launched propositions.
• Identify gaps such as customer growth without corresponding spend growth, balances without engagement, or acquisition without activation.

2. Customer Lifecycle Management

• Build structured programmes across onboarding, early activation, usage deepening, dormancy prevention, reactivation, high-value retention and win-back.
• Design interventions for high-value, high-potential, inactive and at-risk customer cohorts.
• Use customer behaviour and propensity models to determine whom to target, when to engage and what intervention to offer.
• Develop category-led engagement strategies across international usage, travel, lifestyle, UPI, digital payments and other relevant use cases.
• Improve spend productivity and engagement within new and under-penetrated cohorts.

3. Portfolio Economics and Profitability

• Own portfolio P&L, budgets, forecasts and unit economics in partnership with Finance.
• Track revenue, acquisition cost, rewards, benefits, lending income, fee income and customer-level profitability.
• Evaluate the commercial impact and incrementality of acquisition, engagement, retention and migration programmes.
• Develop rewards economics, breakage and ROI models to support periodic benefit and proposition reviews.
• Identify cost leakage across rewards, waivers, offers and campaigns.
• Improve cost-to-impact metrics such as acquisition cost, cost per activation, campaign ROI and incremental revenue.

4. Add-on & Referral Cards: Horizontal Ownership

• Own the strategy and performance of Add-on and Referral Cards as scalable acquisition and relationship-deepening levers across the franchise.
• Identify high-potential customer and household cohorts and build targeted journeys across digital, branch, assisted and relationship-led channels.
• Track the end-to-end funnel across sourcing, issuance, activation, spends, retention and customer value.
• Optimise programme design and incentives to drive incremental acquisition, household engagement and sustainable economics.

5. Analytics and Business Reviews

• Own portfolio MIS, dashboards, forecasts and monthly business reviews.
• Track acquisition, activation, spends, SPAC, share of wallet, international usage, UPI, balances, lending, attrition and portfolio quality.
• Translate data into clear conclusions on what changed, why it changed and what action is required.
• Build early-warning indicators for inactivity, attrition, high utilisation and deterioration in customer value.
• Establish test-and-learn frameworks to measure the true incremental impact of portfolio interventions.
• Develop business cases and impact assessments for proposition, pricing, benefit and policy changes.

6. Portfolio Quality and Governance

• Partner with Risk and Collections to maintain portfolio quality while growing balances and monetisation.
• Track utilisation, revolving behaviour, payment patterns, delinquency and emerging risk cohorts.
• Develop early-warning scorecards and pre-emptive customer-treatment strategies.
• Establish clear governance for exceptions, benefits, waivers and portfolio interventions.
• Work with Compliance, Legal, Product and Operations to ensure propositions and customer journeys remain aligned with approved constructs and disclosures.

7. Portfolio Migrations and Strategic Initiatives

• Lead customer migrations, recarding programmes, proposition changes and portfolio sunsets.
• Define migration cohorts, destination propositions and customer-treatment strategies.
• Protect customer retention, usage, balances and relationship value through the transition.
• Track post-migration activation, spend transfer, balance transfer, attrition and customer experience.
• Coordinate execution across Product, Technology, Operations, Risk, Finance, Marketing and Customer Service.

What Success Looks Like

• Higher activation, active-customer penetration and spend per active card.
• Sustainable growth in spends, balances, share of wallet and customer profitability.
• Lower dormancy and high-value attrition.
• Strong portfolio quality alongside deeper lending and monetisation.
• Add-on Cards becoming a meaningful household-penetration and relationship-deepening lever.
• Referral Cards developing into a scalable, high-quality acquisition channel.
• Measurable improvement in programme ROI and cost efficiency.
• Customer migrations that successfully preserve engagement, spends and balances.
• Portfolio reviews that lead to clear and timely business actions.

Who We Are Looking For

• 7–10 years of experience in portfolio management, customer lifecycle management, growth, loyalty, analytics or a similar commercially oriented role.
• Experience managing customer cohorts across acquisition, engagement, monetisation, retention and attrition.
• Strong commercial orientation and understanding of customer and portfolio economics.
• Strong analytical capability and comfort working with data, dashboards and performance reports.
• Ability to identify the business implications behind the numbers, not simply report movements.
• Experience designing and measuring targeted customer interventions.
• Strong cross-functional leadership and ability to drive outcomes without direct authority.
• Clear, concise executive communication.
• MBA/PGDM or relevant postgraduate qualification preferred.

Prior credit-card or financial-services experience is useful, but not mandatory.