Senior Product Manager- Cash Management

Job Description

Job Purpose

The primary objective of this role is to deliver a competitive offering for Cash Management in the market and drive programs to capture high quality liabilities and transaction flows that will generate strong revenue growth and attractive returns for the Bank.

Products covered by the role include payments, collections, account services, liquidity management.

Key Result Areas

Overview

The role is accountable for delivering the product P&L and includes end to end management responsibility for product strategy, innovation, development, commercialisation and compliance with regulations and the banks policies for these products.

Operating locations where GTB cash products are offered include GCC countries (United Arab Emirates, Qatar, Kuwait, Bahrain, and Oman), Egypt, and International Corporate Centres in Hong Kong, New York, Mumbai, and London with more locations to follow in the future.

The product needs of the GCC are covered by the central product team in UAE. Egypt has its own dedicated Cash Management Product Manager whilst the International Corporate Centres each have a combined Trade/Cash Country Product Manager.

The role will be responsible for developing and rolling out global products into local markets including customisation to local requirements, supported by Country Product Managers where they exist for local development and execution.

• Drive Overall Financial Performance drive the overall financial performance of your products by launching products and initiatives to grow volumes and liabilities whilst establishing strategies to optimise fee pricing, Funds Transfer Pricing (FTP) and Net Interest Margins (NIMs). Work with Technology and Operations to digitise processes and lower costs
• Understand the Market understand the market landscape for your products by constantly scanning the market for regulatory developments, trends, drivers, client needs and competitor offerings (including fintechs and alternative providers) through market analysis, feedback from Sales, direct client interaction, participation in industry bodies and associations, interaction with colleagues at other banks, discussions with Compliance and regulators, industry research papers, and feedback from voice of the client surveys
• Develop the Product Strategy develop a comprehensive strategy for your products by clearly defining the market landscape and drivers, core product proposition, target market and client segments, addressable market size, projected share of wallet and associated volumes/revenues, competitor capability assessment, product development roadmap, and commercialisation strategy
• Drive Product Innovation identify opportunities to develop new products or enhance existing products based on market/sales feedback, client needs and/or regulatory changes. Build a pipeline of potential product developments by advancing and testing concepts with key stakeholders, prioritizing developments based on a sound commercial assessment of each opportunity, preparing formal investment plans, and seeking internal approvals
• Support Product Development work with Product Development to deliver the new product or enhancement by participating in the working level project team as the Subject Matter Expert for your products. Clearly defining the scope of each product build/enhancement by preparing a comprehensive Business Requirements Document and providing regular and real-time feedback on any product impacts from the systems development and testing as it progresses for each product. Participate in the development of test cases, standard operating procedures and the product implementation guide supporting delivery of the product to market
• Commercialise Offering develop and execute a comprehensive Go to Market plan for each core product including a market rollout plan, revenue/volume targets, client target market and prospect lists, core marketing/sales materials, and product training for Sales and Coverage teams. Track and monitor execution against specific calling targets and pipeline, participate in joint calls on clients to propagate product knowledge, support solutions for key deals, and directly engage with teams who are not meeting product targets to agree remedial actions and/or remove roadblocks
• Seek out Partnerships and New Channels identify third party service providers, fintechs, digital platforms, ecosystems and emerging channels that are either supporting or driving volumes in your products or could act as a future source of new business or competitive advantage through bundling of capabilities. Evaluate commercial models and prospects of partnering, investing, or buying in capabilities and present investment or partnering opportunities to GTB Management. Establish partnerships for approved projects including commercial terms and service levels and manage ongoing performance
• Optimise Product Performance constantly look for opportunities to improve the client experience and performance of your products by engaging with Operations, Service, Technology, Risk, Legal and Compliance to deliver continuous improvement in all aspects of product performance. Work with partners to digitise delivery channels and automate processes wherever possible. Regularly review pricing strategies and market positioning to maximise financial and volume performance as well as product cross-sell opportunities. Identify opportunities to refresh the product strategy, enhance products or focus more attention or resources on underperforming products. Retire products that have limited revenues and growth opportunity. Monitor revenues, costs, volumes, pricing, turnaround times and efficiency to ensure your products are performing as expected and take remedial action to address underperformance. Engage in industry advocacy and submissions to improve the regulatory and legal framework including scheme rules where this can improve the effectiveness, market demand or operational delivery of products in the market
• Adhere to Product Governance & Compliance own the updating and review of the Country Addenda to the Product Program Guidelines (PPG) based on a comprehensive understanding of the inherent risks associated with your products and the legal, regulatory, compliance, tax, credit risk and other relevant frameworks and internal policies governing your products. Regularly engage key stakeholders to understand the impact of these areas on your products including changes on the regulatory horizon and pro-actively manage the development and delivery of your products to ensure alignment with the Banks policies, guidelines, risk management processes and risk appetite. Communicate key changes to GTB Management, Sales and Coverage to promote awareness of risk and compliance issues.

• Product Financials product revenues, costs and profitability
• Product Drivers transaction volumes, liabilities, margins and fees
• Product Innovation new products or enhancements developed
• Product Commercialization growth in strategic/priority products and segments
• Product Governance adherence to GTB and bank compliance frameworks
• Teamwork working with key stakeholders to deliver the product

Operating Environment, Framework and Boundaries, Working Relationships

There is increasing innovation in cash management products and services including the development of alternative payment instruments, wallets, digital currencies, as well as explosive growth in transactions from new client segments and platforms such as digital marketplaces, apps, ecosystems and payment fintechs.

At the same time existing clearing systems are undergoing significant technological changes with the adoption of ISO20022XML messages replacing traditional SWIFT MT messages, the adoption of instant payments in many jurisdictions, new interconnections between different clearing systems (sometimes across countries), and the evolution of these clearing systems as the rails behind alternative payment methods.

• Taking an analytical approach to understanding markets, opportunities, product performance and issues so they can be addressed in a fact-based manner
• Understanding the market direction and needs versus our cash management product offering to enable problems or gaps to be identified and addressed
• Exploring alternatives to conventional approaches and solutions when designing new products and processes, e.g., digital first mindset, encouraging buy vs build to speed delivery, partner with disruptors to access new markets, etc.
• Helping key partners like Operations and Technology understand how they can help to deliver a better and more profitable product offering by reengineering and digitising back-office processes to deliver service and product improvements
• Leveraging a strong knowledge of regulatory constraints and requirements to ensure products operate within acceptable risk parameters.

• Primary management accountability for your products
• Decision-maker on all day-to-day product management issues for your products
• Responsible for overall health, growth, and performance of your products

• Minimum 10 years product management experience in your product area or associated functions
• Good understanding of local market and your products
• Track record developing and successfully commercialising new products
• Experience in agile product and technology development approaches
• Strong analytical and data rationale mindset
• Strong communication and interpersonal influencing ability