Product Development Manager

Application ends: August 18, 2024

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Job Description

Responsibilities:

  • Develop and launch innovative product solutions aimed at driving profitability growth across the bank’s financial products for the cards business.
  • Monitor recent customer behavior trends and identify opportunities to enhance current products or introduce new products to sustain the bank’s market presence.
  • Support frontline acquisition efforts by monitoring sales performance, addressing frontline issues, providing training, and creating initiatives/campaigns to ensure sales targets are met.
  • Serve as a key resource ensuring customers successfully engage with the products and realize their full potential through meeting key performance indicators.
  • Contribute to and review the annual budget in alignment with the retail banking strategy to optimize costs and increase revenue.
  • Measure performance against sectoral KPIs and provide guidance to achieve high performance standards and continuous improvement.
  • Continuously review current products to ensure compliance with approved regulations.
  • Develop the bank’s product offerings based on market needs, new regulations, and exporter feedback in line with the bank’s business goals and objectives.
  • Lead the development and execution of marketing campaigns for the launch and activation of the bank’s products.
  • Oversee day-to-day performance of the bank’s products and periodically review/upgrade them as needed.
  • Execute innovative product development in close coordination with Digital and relevant cross-divisional business lines.
  • Provide guidance and support to client-facing professionals to solve complex client needs through products.
  • Represent the bank at industry events/seminars/conferences to stay abreast of trends and drive product innovation.
  • Organize client events to share market best practices and improve product offerings.
  • Collaborate with internal stakeholders to develop new product concepts or enhance existing products.
  • Provide training to internal and external clients about product offerings to facilitate product roll-out.
  • Monitor and evaluate competitive and regulatory environments to ensure products meet client needs and remain competitive.
  • Develop service level targets and manage coordination with other departments to meet client service expectations.
  • Secure approval from the Shariah Committee on Islamic products.
  • Drive the commercialization of new products and solutions, including pricing recommendations, providing sales tools, and training relationship managers.
  • Monitor product performance post-rollout and resolve any product issues to ensure continuous improvement.
  • Ensure bank policies and procedures are defined in line with Central Bank of Bahrain circulars and Shari’ah Law.
  • Formulate and implement frameworks for infrastructural and operational changes within product development.
  • Review and update internal systems regularly.
  • Oversee the implementation of policies, systems, processes, and controls to meet procedural and legislative requirements while delivering quality service.
  • Coordinate with different departments to identify product gaps and develop appropriate solutions.
  • Collaborate with Business Intelligence and Digital teams to leverage data sources for product management activities.
  • Ensure smooth collaboration with IT for product technical development.
  • Liaise with Human Resources, Operations, and Distribution networks to design and deliver product training and updates.
  • Define goals and key performance indicators for team members and manage their performance.

Candidate Requirements:

  • Bachelor’s degree in business administration, accounting, finance, or equivalent.
  • Master’s degree in business administration, accounting, finance, or equivalent preferred.
  • At least 10 years of experience in the credit/debit card industry and/or financial services operations.
  • Analytical, judgment, and problem-solving skills.
  • Strong people management skills with the ability to motivate and guide subordinates.
  • High-level communication skills, both verbally and in writing.
  • Excellent customer service skills with the ability to apply tact and diplomacy to handle customer disputes.