Product Manager - Assets

Role Objective:

The Product Manager – Assets will be responsible for managing the retail asset product portfolio, throughout the product lifecycle, from planning to execution in support of the functional / corporate strategies and objectives. The incumbent will manage cross-functional product development and management efforts of value-added products and services for the retail customer segment, in line with the regulatory guidelines, and internal policies. The job holder will work closely with the internal stakeholders and industry partners (as applicable) in monitoring market trends/ competitive products, analyzing product coverage / sales efforts, revenue projections, precise product positioning and delivery of marketing initiatives.

Detailed Roles and Responsibilities:

• Contribute towards the formulation, and implementation of the overall client segmentation strategy, annual business plans, policies and procedures with respect to the Retail Asset client segment, to support the overall functional and organizational business strategy.
• Ensure that the business plans are within agreed budgets and timescales. Provide timely, accurate and complete progress reports to the Section Head - Products and Analytics.
• Update self on the current industry trends, economic events, regulatory requirements/changes set by QCB and other relevant government bodies, and, suggest adequate changes, pertaining to deliverables.
• Develop and maintain robust working relationships with internal/external stakeholders to facilitate and capitalize on functional / operational/ strategic needs
• Project manage the development / delivery of new, and management of existing asset products, ensuring participation and buy-in from internal / external stakeholders in terms of product proposal.
• Perform the research & analysis efforts, furthering the identification, and analysis of current / target marketplace, tendencies and competitors in terms of retail banking assets.
• Work closely with the BUs in initiating / conducting surveys and customer/prospect visits to ascertain requirements, and gaps in the respective market segments within the retail assets market.
• Liaise with the BIU/ BUs to formulate business plans for timely delivery of product development, enhancements and/or cost reductions based on business / product performance, and market trends, changing customer requirements and corporate objectives.
• Prepare business case/ proposals for new product development, including but not limited to consumer research, budget, and costing calculations, and time lines etc.
• Coordinate and, contribute towards the formulation and management of pricing models, and setting of special pricing/ competitive pricing quotes for retail asset products, to support sales efforts.
• Ensure regulatory compliance, evaluate the effects of new product development or amendments, and prepare the proposals for the respective regulatory authority review and approval, prior to implementation.
• Contribute towards the Funds transfer pricing (FTP) strategies to measure contribution of the various retail asset products towards overall profitability, and other applicable metrics.
• Contribute towards the formulation and implementation of strategic product revenue and profitability objectives and, deliver product specific data on revenue projection in terms of product demand, gross and net margins, payback/ ROI.
• Deliver product specific data on cost patterns, including but not limited to sunk cost, overhead vs. direct cost, fixed vs. variable costs, economies of scale and volume.
• Deliver product specific data on cash flow aspects, including but not limited to working capital, positive cash flow projections and cost and risks of funding sources.
• Enhance the existing products within the retail asset products portfolio by creating incremental value-added features through competitive pricing, convenience and availability.