Role Analysis

Quick Tips to prepare for Product Management

Likely Companies where this role exists:

 Axis Bank
 Bajaj Finserv
 Microsoft
 Amazon
 Flipkart
 IBM
 Accenture
 Infosys
 HCL Technologies
 Wipro
 Paytm
 Swiggy
 Ola
 Zomato
 MakeMyTrip
 Reliance Industries
 Cognizant
 Adobe
 Facebook
 LinkedIn

Likely roles offered by these companies:

 Associate Product Manager
 Product Owner
 Technical Product Manager
 Product Analyst
 Product Marketing Manager
 UX/UI Product Designer
 E-commerce Product Manager
 AI/ML Product Manager

Questions about industry/sector:

These questions are important to prepare as a business graduate. Recruiters expect you to have holistic view of the
problem/role.
Market Dynamics and Competition:
 How can banks compete with new startups coming with next-gen technologies?
 What are NBFCs, and how can they compete with new startups coming with next-generation technologies?

Product Life Cycle:

 What is the product life cycle of a card product?
 What's the product life cycle of a lending product/Insurance product/wealth product?
 What is the product life cycle of a lending product?

Digital Banking and Fintech:

 What is Open Banking, Neo Banks, Digital Bank, Payments Banks?
 What are some of the major card management systems, and how has fintech entered this space?
 How is the payment space going to increase, and what is the impact of COVID on digitization?
 Tell us about one feature that you would like in the banking app that does not exist today.

Banking Industry and Regulatory Landscape:

 Update on recent industry developments, such as the HDFC card ban, including the reasons behind it and its impact?
 What are the various regulatory rules around cards and in the lending space?

This document has been created to provide you some guidance for quick preparation. The questions listed here are not exhaustive by any means and are not
unique/ specific to the mentioned companies. Also, companies are also indicative (not at all exhaustive) – they are used to provide you with better context for
preparation. Use your own judgment to prepare exhaustively. Do not circulate further – we have worked very hard to create this!
Role Analysis
 Can you explain your understanding of the banking industry and its various products and services?
 What are acquiring network, acquiring bank, issuing bank?

Insurance and Bancassurance:

 What is Bancassurance?
 What's the product life cycle of an Insurance product?

Customer Insights and Risk Management:

 Strategies to ensure compliance with regulatory requirements and standards while developing and launching products?
 How do you assess and mitigate risks associated with banking product development and management?
 How do you gather customer insights and feedback in the banking industry to inform product decision-making?

Product Management Strategies:

 What metrics or KPIs do you typically track to measure the performance and success of banking products?
 How do you incorporate user-centered design principles and customer-centric thinking in your product management?
How do you balance innovation and experimentation with the need for stability and security in the banking industry?
 How do you prioritize feature enhancements and updates based on customer needs, market trends, and business
goals?

Questions about Role/Profile (Technical or Functional Questions):

These are direct role-based questions which one should be thoroughly prepared on:

Experience and Skillset:

 Do you have any Team handling experience?
 What is your experience in Stakeholder management, project planning?
 Do you have any experience in capacity planning and delivery handling exposure?
 How well can you work with tight deadlines or fewer resources?
 What KPIs do you typically use to track product performance and success?
 What are the qualities of a Product Manager and a product owner?
 How will you stay user-focused in your approach?

Prioritization and Decision-Making:

 What’s your approach to prioritizing tasks?
 How would you prioritize resources when you have two important things to do but can’t do them both?
 Describe a scenario which required you to say no to an idea or a project?
 How do you decide what and what not to build? How will you resolve conflicts?
 How would you improve the functionality 10x of what it is now?
 What is the key to a good user interface?
 How do you know if a product is well designed?
 How would you redesign our product?
 What is the one improvement you would implement for our product in the next 6 months?
 Suggest a new feature for your banking app?
 Have you heard about Design thinking?

Methodologies and Skills:

 Do you know about Agile, SDLC methodologies, and do you have expertise in them? How do you ensure effective
product management within an Agile framework?
 What is the top skill that you possess?

Market Understanding and Specialization:

 While we make X product for the general public, we also have a B2B division. What is your experience with juggling
both markets?
 What specific aspects of the banking industry interest you the most, and why?

This document has been created to provide you some guidance for quick preparation. The questions listed here are not exhaustive by any means and are not
unique/ specific to the mentioned companies. Also, companies are also indicative (not at all exhaustive) – they are used to provide you with better context for
preparation. Use your own judgment to prepare exhaustively. Do not circulate further – we have worked very hard to create this!
Role Analysis
Customer Insights and Regulatory Landscape:
 How familiar are you with the various banking products and services offered by financial institutions? Can you provide
examples of how you have engaged with these products as a customer or through your academic studies?
 How would you go about gathering customer insights and feedback for banking products if you were given the
opportunity?
 How do you anticipate and adapt to changes in customer behavior, market dynamics, and regulatory landscape that
may impact product management?

Product Development and Management:

 Can you provide examples of products you have managed or been involved in developing throughout your career?
What were your specific responsibilities and achievements in those projects?
 How familiar are you with banking systems and technologies such as core banking, payment processing, fraud
detection, or risk management?
 Can you discuss your experience in conducting feasibility studies or cost-benefit analyses for new product initiatives?
 How do you ensure data security and privacy compliance when developing and managing banking products?
 Are you familiar with industry standards such as PCI-DSS or GDPR?
 Describe your understanding of APIs and how they are used in the banking industry? Have you worked with third-party
APIs or implemented API integrations in your previous roles?
 Have you utilized data analytics or business intelligence tools to derive insights and make data-driven decisions? Can
you provide examples of how you leveraged data to optimize product performance?
 What are the security frameworks and practices, such as encryption, access controls, or vulnerability management?
 Are you familiar with cloud computing technologies and their application? Have you worked with cloud platforms such
as AWS, Azure, or Google Cloud?
 How do you approach managing technical debt and ensuring the long-term scalability and maintainability?
 How well do you understand cybersecurity threats and how can you incorporate security measures?
 How can one integrate banking products with other systems or platforms, such as mobile banking applications or e-
commerce platforms?

Case/Situation Based Questions:

 Launching a Digital Wallet: You have been tasked with launching a digital wallet for a leading bank. How would you
approach the product development and launch process? What features would you prioritize, and how would you ensure
customer adoption and usage? Consider the competitive landscape, customer needs, security considerations, and
regulatory requirements in your response.
 Improving Mobile Banking Experience: The bank's mobile banking app has received negative customer feedback regarding
its user experience and functionality. How would you go about improving the app to enhance customer satisfaction and
engagement? What steps would you take to identify pain points and gather user feedback? Outline a plan for prioritizing
and implementing necessary improvements, considering technical feasibility, resource constraints, and regulatory
compliance.
 Introducing a Personal Financial Management Tool: The bank wants to introduce a personal financial management tool that
helps customers track their expenses, set budgets, and manage their finances effectively. How would you approach the
development and launch of this tool? What features and functionalities would be essential to make it valuable and user-
friendly? Discuss strategies for driving user adoption and long-term engagement with the tool.

 Implementing Open Banking APIs: The bank has decided to implement open banking APIs to enable third-party developers
to build applications and services that integrate with the bank's systems. What considerations should be taken into account
when developing and launching the API platform? How would you ensure security and privacy while promoting innovation
and collaboration with external developers? Outline the key steps and challenges involved in implementing open banking
APIs.
 Launching a Digital Mortgage Platform: The bank wants to launch a digital mortgage platform that simplifies the mortgage
application process for customers. How would you approach building and launching this platform? Discuss the necessary
features and functionalities to make it user-friendly and efficient. Consider integration with existing systems, compliance
requirements, and the need to provide a seamless user experience throughout the mortgage journey.

This document has been created to provide you some guidance for quick preparation. The questions listed here are not exhaustive by any means and are not
unique/ specific to the mentioned companies. Also, companies are also indicative (not at all exhaustive) – they are used to provide you with better context for
preparation. Use your own judgment to prepare exhaustively. Do not circulate further – we have worked very hard to create this!
Role Analysis
Things to highlight from CV/Profile
This helps make your CV more relevant to the role, helping with shortlists
Product Management Skills:
 Highlight any product idea, customer research, stakeholder management skills, data analysis, creative mindset.
 If you are from a technical background, highlight how well you have analyzed requirements, testing skills, and an eye
for details.

Conflict Management and Negotiation Skills:

 Describe a time when you had trouble reaching a consensus and how you handled it.
 Tell us about a time you used data to influence an important stakeholder.
 Tell us about a time you faced failure and how you bounced back.

Product Improvement and User Research:

 How would you improve your favorite product?
 Why do you want to be/what do you love about being a Product Manager?
 What is a product you currently use every day, why, and how would you improve it?
 Have you ever done user research, and what methodologies have you used?

Success and Achievements:

 Tell us a time where your idea was successful and what did you achieve.

This document has been created to provide you some guidance for quick preparation. The questions listed here are not exhaustive by any means and are not
unique/ specific to the mentioned companies. Also, companies are also indicative (not at all exhaustive) – they are used to provide you with better context for
preparation. Use your own judgment to prepare exhaustively. Do not circulate further – we have worked very hard to create this!