Bank of Baroda, one of India’s largest banks is inviting applications from qualified and experienced Wealth Management Professionals to strengthen its Wealth Management Services. Online registration of application and payment of fees is available from 22nd February 2023 till 14th March 2023. Interested and eligible candidates looking for a challenging and progressive career in the Banking sector can join the Bank of Baroda as Acquisition Officer, Product Manager, and other posts.
In this article, we shall look at the Pay Scale, Job Profile, and Job Posting details for Bank of Baroda Acquisition Officer, Product Manager, and other posts.
BOB Recruitment 2023 AO, Product Manager Calendar
| BOB AO, Product Manager Recruitment 2023 Events | Important Dates |
| BOB Notification Release Date | 22nd February 2023 |
| BOB Registration Start Date | 22nd February 2023 |
| BOB Registration End Date | 14th March 2023 |
| BOB Written Exam for AO, Product Manager, Other Posts | To Be Announced |
BOB Recruitment 2023 AO, Product Manager Vacancies
Bank of Baroda has issued a total of 500 vacancies for Acquisition Officers (AO) and 46 vacancies for Product Managers & other posts. The tentative/likely place for posting for the posts of AO, Product Managers, and other posts is shared below. Applications are invited cities/locations wise; however, the Bank reserves the right to modify the place of posting as per requirements of the Bank from time to time.
| Posts | Vacancies | Tentative Posting |
| Acquisition Officers | 500 | Ahmedabad (25)Allahabad (9)Anand (8)Bareilly (9)Bengaluru (25)Bhopal (15)Chandigarh (8)Chennai (25)Coimbatore (15)Delhi (25)Ernakulam (16)Guwahati (8)Hyderabad (25)Indore (15)Jaipur (10)Jalandhar (8)Jodhpur (9)Kanpur (16)Kolkata (25)Lucknow (19)Ludhiana (9)Mangaluru (8)Mumbai (25)Nagpur (15)Nashik (13)Patna (15)Pune (17)Rajkot (13)Surat (25)Udaipur (8)Vadodara (15)Varanasi (9)Visakhapatnam (13) |
| Regional Acquisition Manager | 4 | Mumbai (1), New Delhi (1), Kolkata (1), Chennai (1) |
| National Acquisition Head | 1 | Mumbai (1) |
| Radiance Private Sales Head | 1 | Mumbai (1) |
| Private Banker- Radiance Private | 15 | Mumbai (8), New Delhi (7) |
| Product Head – Private Banking | 1 | Mumbai (1) |
| NRI Wealth Products Manager | 1 | Mumbai (1) |
| Group Sales Head (Virtual RM Sales Head) | 1 | Mumbai (1) |
| Wealth Strategist (Investment & Insurance) | 19 | Bengaluru (2), Chennai (2), Hyderabad (2), Kanpur (2), Mumbai (9), Pune (2) |
| Head Wealth –Technology | 1 | Mumbai (1) |
| Product Manager (Trade & Forex) | 1 | Mumbai (1) |
| Trade Regulation- Sr. Manager | 1 | Mumbai (1) |
| Total Vacancies | 546 |
BOB Recruitment 2023 AO, Product Manager Salary
Salary for BOB Acquisition Officers
| Posts | Salary/Remuneration |
| Acquisition Officers | Metro cities: Rs. 5 Lakhs p.a.Non-Metro cities: Rs. 4 lakhs p.a.Apart from the Fixed Salary, selected candidate will be eligible for Performance Linked Variable Pay which will be over and above the Fixed Salary but linked to the achievement of specific targets. |
Salary for BOB Product Manager & Other Posts
| Posts | Salary/ Remuneration |
| Regional Acquisition Manager | Remuneration offered will be on Fixed Salary basis depending on candidate’s qualifications, experience, and overall suitability, last drawn salary of the candidate and market benchmarks for the respective posts.Apart from the Fixed Salary, selected candidate will be eligible for Performance Linked Variable Pay which will be over and above the Fixed Salary but linked to the achievement of specific targets.Contractual Engagement for a period of 5 years, with periodic performance review. The term of engagement may be extended at the option of the Bank. |
| National Acquisition Head | |
| Radiance Private Sales Head | |
| Private Banker- Radiance Private | |
| Product Head – Private Banking | |
| NRI Wealth Products Manager | |
| Group Sales Head (Virtual RM Sales Head) | |
| Wealth Strategist (Investment & Insurance) | |
| Head Wealth –Technology | |
| Product Manager (Trade & Forex) | |
| Trade Regulation- Sr. Manager |
Credit History: The candidate applying shall ensure that, they maintain a healthy Credit history and shall have a minimum CIBIL score of 650 or above at the time of joining. The minimum credit score will be as per the Banks policy, amended from time to time.
BOB Recruitment 2023 AO, Product Manager Roles & Responsibilities
Roles and Responsibilities & Job specific skills for the above posts are as below:
| Position | ROLES AND RESPONSIBILITIES |
| Acquisition Officers | Acquiring New to Bank (NTB) affluent relationships for the BankPresent the various benefits and services of the Bank’s affluent proposition and new initiative to clients and prospects with the objective of acquiring new accounts.Will also be responsible for getting Net New Assets (NNA) to the bank (CASA, Investments, Referral products etc.)On-board and activate new relationships by liaising with branch relationship managers.Organize events and prepare marketing materials for undertaking new acquisitions.Telesales activity to affluent segment clients for activation and referrals.Engage Branch Managers and Segment A Relationship managers to organize events and increase overall NTB for assigned branch.Maintain relationships with internal stakeholders such as product managers to ensure attractive or exclusive offers for the affluent segment. |
| Regional Acquisition Managers | Defining marketing and sales strategies for the affluent segment in line with corporate vision and plan.Monitoring sales & services for Acquisition officers.Tracking and reporting sales performance across revenue line including transaction pipeline, acquisition results and market conditions.Performance Measurement of Acquisitions Officers, Coaching and Mentoring the Acquisition Teams.Generating new business opportunities from internal and external sources, including existing clients and other channels within the bank |
| National Acquisition Head | Responsible for driving the business of cluster of Regions.Monitor, mentor and manage the performance of Regional Acquisition Managers.Defining and implementing corporate strategy for the affluent segment in the area in line with corporate vision and plan.Engage with key clients and help in driving key business deals and transactions. |
| Head Wealth Technology | Understanding / advising appropriate IT infrastructure and lead an IT vertical within the Wealth Vertical for smooth implementation of various IT initiatives.Improve upon the existing IT structure; leverage the software solution being provided by vendors to the maximum extent and create a robust IT structure for Wealth Business.Responsible for leveraging technology which is the need of the hour and support various product verticals/tie-up partners in developing IT synergy for digitalization of process for better services to the customers.Responsible for implementation of Insurance & Investment Solution for driving wealth business, implement integration of Functionalities with Mobile Banking (bobWorld); Net Banking; etc for supporting and increasing wealth business exponentially and maintenance of software solution.Driving digital sales through digital push through email/SMS etc.Lead Management – Call Centre, Website, online sales, attachment sales,- Lead Follow-up and closure.Responsible for Document Management – Insurance and MF Applications and proposal forms – preservation and retrieval for audit, etc. |
| Radiance Private Sales Head | Independently manage a team of Private Bankers and ensure achievement of overall Banking & Wealth Management business targets through ongoing coaching, support and effective management as required.Develop strategies to grow Private banking footprint across geographies thereby driving growthacross Wealth Management business, Liabilities and Assets growth across the segment and contribute to overall success of Private Banking business by aligning with best practices of the industryResponsible for the Revenue and Cost dynamics of the channel and consistently augmenting business profitability of the channelDeliver effective Banking and Wealth Management solutions to clients by collaborating with other departments across the bank e.g., Wealth Management, Retail Liabilities, CFS, Operations, Credit, etcProvide training and guidance to the team with regards to offering Banking & Wealth Management solutions to clients, compliance procedures and business development to enable consistent portfolio growth.Ensure effective people management for the Private Banking business by working closely with the HR function and co-creating hiring, career progression and development plan for all Private Bankers.Assist the team in executing business plans relating to Wealth Management business, AUM growth, net new money, Liability book growth, Asset cross-sell, revenue generation and NTB client acquisition. |
| NRI Wealth Products Manager | Responsible for managing NRI Investment products (Mutual Funds, Alternate Investment products) including new product launches and product enhancementsResponsible for facilitating NR NTB acquisitions across channels including Branches, Sales and others.Measuring and driving active customer on-boarding and investment activation across channelsActively engaging with the NR channel to drive portfolio objectives (CASA growth, Investment product penetration, book deepening, revenue footprint etc.)Ensuring on-going competitor analysis for product features and TD rates, etc.Planning and driving contests and R&R programs to drive business volumesCoordinating with IT / external vendors for system development and process/platform initiativesDevising Sales Incentive Plan (SIP) for the NR channel and ensure correct computation and pay-outs. Facilitate resolution of queries pertaining to SIP’sActing as the one-point contact for the International and offshore NR teams and provide ongoing product support on a need basis.Creating / Reviewing / updating of marketing collaterals for NR Products |
| Product Manager (Trade & Forex ) | Must be able to support the team at the ground from the central office.Co-ordinate with the various department like Trade & Forex for providing necessary support to team.Training the team on the products.Benchmarking the competitive products in the industry.Preparing requisite MIS to support the team. |
| Trade Regulation – Sr. Manager | Ensuring that business is done by the team in compliance of the regulatory guidelines.Educating the team at ground about the regulatory compliance to be followed, documents to be collected for it.Interacting with the client wherever necessary to ensure compliance.Updating the team on recent and relevant guidelines to be ensured |
| Product Head – Private Banking | Must enable Bank to develop Private Banking segment.Planning and executing strategies along with seniors to scale up business through this segment.Co-orindating with various department like, Trade & Forex, Corporate Finance, Retail Banking etc providing necessary support to the clients, and team at the ground.Co-rodinating with the departments for syndicate loan, working capital, IPO etc.Studying and adopting best practices of the industry to scale up the segment |
| Group Sales Head (Virtual RM Sales Head) | Defining and Implementing corporate strategy for the affluent segment in line with corporate vision and planDesigning market and sales strategy for management of existing client base, tracking and monitoring sales across business lines.Manage, coach and mentor team in achieving their KRA’s and outperforming on the decided benchmarksEngage with key clients (Individual and corporates) and help in driving key business deals and transactionsBuild internal and external relationships to help create business development opportunitiesFoster a performance led and ethical culture in the areaConducting Individual and Joint Performance reviews for all profiles reporting to him /herResponsible for legal and compliance requirement being met. |
| Private Banker – Radiance Private | Acquisition of new client relationships and development/management of existing Private client relationships(TRV > INR 15 Cr)Initiates, develops and retains client relationships while contributing actively to business development and financial goals of the bankResponsible for overall revenue and profitability goals across the mapped private client baseExpected to drive solicitation, presentation, closing and ongoing-management of private banking products across the mapped client base Liaises with Private Banking product teams to keep abreast of investment and other product offerings and acts as client’s window to the private banking services offered the BankResponsible for up-to-date compliance, KYC and client profile on all mapped clientsResponsible for creating and owning the Investment Charter/Wealth Plan for all mapped customers based on assessment of risk tolerance, investment horizon and suitability for each client and marketing appropriate products and services basis the charterRemains abreast in terms of market trends and developments, customer preferences, and new/innovative productsContributes to all aspects of the marketing mix including products development, high operational efficiency and bespoke customer serviceIndependently establishes a meeting system to ensure coverage of the mapped client base, completes meeting reports and establishes a robust follow-up systemParticipates, anticipates, enquires, responds, and prepares written presentations and other documents independentlyExpected to achieve high levels of service standards and maximize client satisfaction. |
| Wealth Strategist (Investment Insurance) | Driving investment product through sales teamEducate client about investment & Insurance options and potential risksResearch and analyse investments, strategies and market conditions to optimize investment portfolios,To combine analytical ability, comprehensive fiscal knowledge and customer service skills to help clients define and reach their financial goals.Ownership of the investment & Insurance targets of the cluster/ location that they are mapped toAUM increasePenetration of client base for creating new investors in MF/investments from existing client baseIncrease in ( Investment & Insurance Products) productivity of RMsEnsuring better client experience both by qualitative and quantitative subventionsPortfolio Monitoring, rebalancing & reviews |
To Apply Online For Bank of Baroda Acquisition Officer, Product Manager & Other Posts, Click Here