Benny Chacko
Tavistock Road
Summary
Strategic and results-driven leader with a proven track record of driving growth and profitability. In-depth knowledge of the financial services industry, coupled with strong analytical skills, allowing for the identification of market trends and opportunities. Skilled at building and leading high-performing teams to deliver exceptional results. Excels in collaborating cross-functionally to drive product strategies that align with the organization's overall goals and objectives.
Overview
18
18
years of professional experience
Work History
Head of Instalment Products Strategy & Pricing (Citi Branded & White Label Cards Portfolio)
National Australia Bank
10.2023 - Current
- Currently leading a team of six product managers to shape the instalment product and pricing strategy for Citi Branded and White Label Cards. I also led this team between March'22 and June'22.
- In my current role I am responsible for achieving sales and revenue growth targets across multiple unsecured lending instalment products.
- Implemented data-driven pricing models and analytics to enhance the performance of instalment products, driving profitability and ensuring pricing strategies aligned with business objectives.
- My responsibilities require working with cross-functional teams to identify market opportunities, assess competition, and optimize pricing structures for instalment products, resulting in improved product positioning and increased market share.
Head of Customer Lifecycle Management (Citi Branded & White Label Cards Portfolio)
Citigroup Pty Limited Australia (till May 2022) & National Australia Bank (NAB) (since June 2022)
06.2019 - 09.2023
- I led a team of 8 product managers who were responsible for implementing customer lifecycle management programs across the Citi branded and white label cards portfolios.
- My key responsibilities in this role included increasing customer engagement and retention while achieving portfolio growth metrics like incremental revenue, interest bearing balances and sales.
- Designed and implemented numerous analytically driven engagement programs that have helped maintain cardholders engagement and have significantly contributed to sales and balance growth.
- Launched Citi PayAll. This was market‑first payment product that has seen significant adoption since it was launched.
- Monitored KPIs and performance metrics to track the success of customer lifecycle initiatives, and continuously optimized strategies to drive business growth and profitability.
Vice President- Decision Management
Citigroup Pty Limited Australia
01.2017 - 05.2019
- I was responsible for creating and implementing advanced analytical solutions for Citi Australia's credit cards, consumer lending and retail banking businesses.
- Designed a new Usage Framework for Citi Australia's credit card portfolio. This framework, based on a self learning algorithm, was built to constantly detect changes in a cardholder's usage patters and suggest remedial interventions to ensure continued engagement. This framework was adopted in multiple Citi businesses across the APAC region.
- Built the consumer segmentation for Citi's Global Currency Account(GCA) sales to existing customers.
- Collaborated with Citi Australia's Institutional Banking Group to develop the algorithm that helps Citi utilize its consumer transaction data for its institutional business. This algorithm predicts consumer trends at a macro level with greater accuracy than similar algorithms currently in the market.
- Worked with the region to implement the Next Best Offer framework in Australia. This framework was utilized for efficiency improvement in the IVR and OBTM channels.
Assistant Vice President, Decision Management
Citigroup India Private Ltd.
11.2013 - 12.2016
- Led a team of 7 analyst focused on the Decision Management priorities of the Macy's & Bloomingdale's Private Label and Co‑branded card portfolios.
- Developed and deployed marketing strategies that have generated over $50MM in incremental sales between 2013 & 2016.
- Improving credit uptake at retailer stores by redesigning the credit application target setting mechanism for the store network. This framework eventually covered around 600 Macy's stores in the US and generated an additional 2.6MM credit applications annually. This individual effort was recognized for the far ranging changes it made to the retailers target setting framework.
- Pioneering the use of Retail Gravity models to leverage the strength of the Macy's store network to increase the effectiveness of marketing campaigns.
Principal Analyst, Senior Analyst & Analyst
Citigroup El-Salvador, Citigroup Guatemala, Citigroup Australia, Citigroup India
04.2008 - 10.2013
- Implemented new Variable Compensation Plan developed by Oliver Wyman for Citi Consumer Banking sales and distribution staff in El-Salvador and Guatemala. This program covered more than 1000 sales associates and led to a 20% improvement in efficiency
- Led the project to implement sales palette optimization for Citi Cards Australia. This project focused on adopting a more customer centric approach to improve the efficiency of marketing campaigns. Offers covered under this optimization included Credit Limit Increase, Product Upgrades, Balance Consolidation and Product Cross-Sell
Business Analyst
HSBC Commercial Bank
05.2006 - 04.2008
- Driving analysis aimed at improving banking channel efficiency by discovering channel usage patterns among HSBC's commercial banking cusomters
- Analyzing HSBC's relationship with some of its largest corporate clients and to idenitfy business expansion opportunities.
Education
M.Sc. in Economics -
Madras School of Economics
Chennai04-2006
Bachelor of Arts - Industrial Relations, Economics & Sociology -
St. Joseph's College
Bangalore04-2004
Skills
- Banking Product & Portfolio Management
- Marketing and Targeting Strategy
- Pricing & Strategy
- Advanced Analytics
- SAS & SQL
Timeline
Head of Instalment Products Strategy & Pricing (Citi Branded & White Label Cards Portfolio)
National Australia Bank
10.2023 - Current
Head of Customer Lifecycle Management (Citi Branded & White Label Cards Portfolio)
Citigroup Pty Limited Australia (till May 2022) & National Australia Bank (NAB) (since June 2022)
06.2019 - 09.2023
Vice President- Decision Management
Citigroup Pty Limited Australia
01.2017 - 05.2019
Assistant Vice President, Decision Management
Citigroup India Private Ltd.
11.2013 - 12.2016
Principal Analyst, Senior Analyst & Analyst
Citigroup El-Salvador, Citigroup Guatemala, Citigroup Australia, Citigroup India
04.2008 - 10.2013
Business Analyst
HSBC Commercial Bank
05.2006 - 04.2008
M.Sc. in Economics -
Madras School of Economics
Bachelor of Arts - Industrial Relations, Economics & Sociology -
St. Joseph's College
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