Retention Manager

Job Title: Business Retention Manager - Customer Excellence

Location: Turbhe, Navi Mumbai
Experience: 3 - 5 Years
Department: Banking Operations / Customer Excellence

In this role, you will be an individual contributor responsible for engaging with Business Loan (BBG vertical) customers who intend to foreclose or transfer their loan accounts. Your primary objective will be to understand customer pain points, offer viable financial or service solutions, and retain their relationship with the Bank.

Key Responsibilities

• Customer Retention: Engage proactively with customers initiating foreclosure, balance transfers, or relationship exits.
• Portfolio Protection: Implement retention strategies to minimize portfolio runoff and prevent account attrition.
• Root Cause Analysis: Conduct detailed need assessments to identify why customers want to leave (pricing, service issues, etc.).
• Solutioning & Negotiation: Work closely with Business Banking teams to pitch pricing reviews, restructuring, top-up loans, or alternative banking features.
• Cross-Functional Collaboration: Partner with Relationship Managers, Credit, Product, and Operations teams to fast-track resolution of customer escalations.
• Analytics & Reporting: Maintain accurate documentation of retention offers, track outcomes, and prepare monthly MIS/dashboards for management review.
• Compliance: Ensure all retention and communication processes fully adhere to RBI guidelines and internal Bank policies.

Requirements & Key Skills

• Education: Graduate in any discipline; an MBA/PGDM in Finance or Banking is preferred.
• Experience: 3-5 years in Banking or NBFCs, specifically within Business Loans, MSME/SME lending, Customer Retention, or Relationship Management.
• Product Knowledge: Solid understanding of business loan lifecycles, foreclosure processes, and balance transfer mechanisms.
• Core Competencies: Strong objection-handling, negotiation, and persuasion skills.