Product Manager
Standard Chartered Bank - Nigeria
Job Description
Job Description
• Implementing strategic business programs, devising and cascading tactical product campaigns to the sales staff.
• Supporting sales staff with relevant product support, training and marketing collaterals.
• Utilizing and implementing all business MIS set generated by BIU to monitor the Key Performance Indicators for Wealth Mgt Credit & Investment products.
• To assist in developing awareness for Wealth Mgt Credit & Investment products and stimulating an investment culture in Consumer banking clients / prospects across all segments by implementing various initiatives e.g. seminars, presentations, incentive schemes, social / club engagements etc.
• To assist in creating a strong product offering by providing market feedback and monitoring trends locally and abroad.
• To achieve balanced growth of the business by:
• Growing the Assets Under Management volumes to maximise on revenues
• Monitoring the Investments portfolio to identify concentration risks, detect deterioration in quality of Credits, and income tracking.
• To ensure effective delivery of products and services to Investment Services customers by deploying appropriate systems & processes to support the business.
• Manage risk to minimize operational losses and maintain reputation of the bank at all times.
Key Roles & Responsibilities
• Help develop suitable product positioning and packaging to ensure sustained competitive advantage
• Manage the positioning of Wealth Management Credit & Investment products vis-à-vis competitors
• Determine needs of various CB Nigeria customer segments and collaborate with CB marketing to identify their needs via surveys and research activities.
• Manage product development & deployment of appropriate systems and procedures to support sales and service for Wealth Management credit & investment products
• Maximize business performance of Wealth Mgt Credit & Investment products.
• Monitor all costs associated with Credit & Investment products, especially loan loss provisions/write offs, front end and trailer income for investment products etc and highlight key areas for improvement
• Implementing various promotional programmes, either unilaterally or jointly with a strategic alliance partner.
• Monitor SLA’s with CB Operations (local & Hub) to identify gaps and devise solutions to ensure products function effectively
• Understand competition activities and devise promotions and strategies to counter them
• Understand the channel needs and support where necessary, via joint customer calls to identify & develop potential customer segments. Support the acquisition process with adequate sales and marketing material and well-defined process notes.
• Execute well conceived sales contests for the RM Teams
1. Budget Targets
• To support sales channels towards achievement of Wealth Mgt Credit & Investment Products targets as they apply to Assets under management, facility limit/utilization and revenue.
• To support sales channels in the execution of the various product sales plans, through presentations and training efforts in branches.
• Design and implement periodic internal and external campaigns to support Wealth Mgt Credit & Investment Products offered by the bank.
2. Portfolio Management
• Proper tracking of Investment Products sales volume/revenue/AUM and Wealth Mgt Credit limits, utilization, loan impairment etc to ascertain quality, growth trends etc
• Proper management of Wealth Mgt compliance processes that guide sales processes and product management to mitigate mis-selling and ensure TCF applies.
3. Business Planning & Financial Management
• Execution of business plan and strategies for Risk Asset and Investment Products.
• Regular performance review and development meetings with the Product Development Officer, Investment Analysts, Middle office Manager and VsGM Wealth.
• Management of costs associated with the product management (travel, marketing, collaterals, stationery etc).
4. Service Management
• Work with SSC KL, GSSC Chennai, CB Ops, GTO, WM Middle Office, Global Markets and external service providers to ensure efficient service delivery platforms.
• Work with Distribution channels, CB & GM Operations, and Credit Risk Mgt units to ensure seamless process flow in executing clients requests.
5. Risk Management
• Control and monitoring of NBD, DPD, Loss ratios etc as they apply to asset books
• Control and monitoring to minimize mis-selling risk.
• Monitoring of risks related to Wealth Mgt Credit & Investment products and review of KCSA, KRI and other risk tools generated by responsible persons.
6. Other
• Recommend strategy and sales model changes (to the Head of Branches) required to meet product and revenue targets by the various branches.
Ensure you remain alert to the risk of money laundering and assist in the Bank’s efforts in combating it by adhering to the key principles in relation to:
“Identifying your customer, knowing your customer, reporting suspicions, safeguarding records and not disclosing suspicions to customers”.
Qualifications & Skills
• Degree certificate with MBA / ACCA or other professional qualifications.
• At least 10 years’ experience in consumer financial services.
• Thorough knowledge of the Bank’s products, services and delivery channels available to Consumer Banking customers.
• Thorough knowledge of the Bank’s Procedure and Policies
• Excellent Interpersonal skills.
• A self-driven individual with good motivational skills.
• Effective writing and presentation skills in English
Diversity & Inclusion
Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.
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