Senior Vice President | Citibank | New York City, New York, United States
Sachin Parate is a Product leader with a proven track record of driving large-scale products and generating multi-billion dollars in annual revenue. Sachin is passionate about building customer-centric products and high-performing teams. He takes pride in his notable achievements, which include launching a multi-billion dollar credit card product, conceptualizing a successful startup, and serving as executive sponsor for multiple startups. Sachin holds an undergrad in technology from the Indian Institute of Technology (IIT), Bombay.
What do achievements mean to you?
For me, achievements represent the tangible outcomes of innovation, persistence, and collaboration. They are milestones that validate our efforts, pushing us to challenge the status quo and think beyond conventional boundaries. While they offer a moment of recognition and celebration, achievements also serve as a reminder of our responsibility to continuously evolve and improve. They are not just endpoints but catalysts that inspire further exploration and innovation. In the realm of product innovation, each achievement signifies a step forward in addressing user needs more effectively and enhancing their experiences, driving us to set even loftier goals for the future.
What excites you most about the work that you do?
The potential to transform ideas into tangible solutions that enhance people’s lives is what truly excites me about my work. Every day presents an opportunity to challenge the norm, to get deep into understanding user needs, and to build solutions that were once thought impossible. The dynamic nature of innovation means the learning never stops; there’s always a new challenge, a fresh perspective, or a groundbreaking technology on the horizon. Witnessing the positive impact of our innovations on users is an unparalleled reward that fuels my passion and drive.
Do you have a mantra or motto that you live by?
My mantra is: “Innovate with purpose, lead with empathy.” I believe that true innovation stems from a genuine desire to make a difference, and it should always be grounded in understanding and addressing real-world needs. Leading with empathy means putting users at the heart of every decision, ensuring that our innovations resonate with them on a personal level. It also means fostering a collaborative environment where diverse perspectives are valued, and team members feel heard and empowered. This approach not only drives meaningful product advancements but also cultivates a culture of inclusivity and continuous growth.
What is your work philosophy?
I believe in “Purposeful Innovation.” This means we should make products that solve real problems or make things better. It’s not just about making something new but making it useful. I focus on understanding what users really want. I think teamwork and open talks are important. Everyone’s ideas matter. We should always be ready to learn and change to stay ahead.
What was your journey like to get where you are today?
I started in management consulting and learned how to solve problems and understand business challenges. Then, I moved to analytics at Citibank. There, I used data to find important insights that helped the business grow. These jobs prepared me for my next role in product management at Citibank. In this role, I used my data skills and focused on what users wanted to make great products. My whole journey taught me to always learn, adapt, and aim for the best.
Best decision?
The best decision I ever made was transitioning into Product Management. It’s a role that perfectly amalgamates my analytical background with my passion for creating solutions that resonate with users. Every day, I get to shape ideas into tangible products that impact millions, and there’s an unparalleled satisfaction in seeing something you’ve conceptualized come to life and make a difference. This move not only aligned with my professional aspirations but also provided a deeper sense of purpose and fulfillment in my work. It’s a decision that has shaped my career and continues to inspire me daily.
Definition of leadership?
For me, leadership is the ability to inspire, guide, and influence individuals or groups towards achieving a shared vision or goal. It transcends mere management and involves fostering trust, demonstrating integrity, and cultivating an environment where creativity and innovation thrive. True leadership is characterized by the capacity to listen actively, make decisive choices, and empower others to reach their full potential. It’s about creating a legacy through positive impacts, fostering growth in others, and navigating challenges with resilience and adaptability. At its core, leadership is the art of motivating people to act towards achieving a common objective.
Best mentor?
My best mentor was a seasoned Product leader at Citibank. Her vast experience and wisdom were evident in every interaction. She had an uncanny ability to dissect complex situations, offering insights that were both profound and practical. Under her guidance, I not only honed my product management skills but also learned the nuances of leading teams and driving impactful initiatives. She taught me the importance of resilience, strategic thinking, and the art of influencing without authority. She was not just a mentor but an inspiration for me.
One word that best describes you?
“Determined” means I never give up. No matter how tough things get, I keep going. From my first job to my role at Citibank, this spirit has helped me grow and learn. It’s not just about finishing a task, but how I push through challenges that really shows who I am.
Most important lesson learned
The most important lesson I’ve learned is the value of resilience. Throughout my career, from management consulting to product roles at Citibank, I’ve faced challenges and setbacks. However, it’s not the obstacles that define us, but how we respond to them. Embracing change, learning from failures, and continuously adapting have been pivotal. This resilience has not only propelled my professional growth but has also enriched my personal journey, teaching me that true success lies in the ability to bounce back stronger.
Characteristic most admired?
The characteristic I most admire in individuals is their speaking skills. The ability to articulate thoughts clearly, engage an audience, and convey complex ideas with simplicity is truly commendable. Effective speaking skills not only reflect one’s knowledge and understanding but also showcase their confidence and passion. In professional settings, those who possess this talent can inspire teams, drive change, and make a lasting impact. It’s a powerful tool that bridges gaps, fosters understanding, and creates meaningful connections.
Most influential book read?
The most influential book I’ve read is “Thinking, Fast and Slow” by Daniel Kahneman. This masterpiece delves deep into the intricacies of human decision-making, shedding light on the two systems that drive our thoughts: one intuitive and fast, the other deliberate and slow. Kahneman, beautifully intertwines psychology with economics, challenging the reader’s understanding of biases and rationality. The insights from this book have profoundly shaped my approach to decision-making, both personally and professionally, making me more aware of potential pitfalls and teaching me to think more critically.