Product Manager

**Overall job purpose**: Accountable for the product design, development, deployment and management of the respective Product Portfolio. To enable the fulfilment and implementation of the respective value propositions and ongoing implementation and management of new and existing products in the respective Product Portfolio. **Accountability**: Product Design and Development - Provides the design and development of new and existing products, taking to market and run of compelling and commercially viable product propositions spanning the product lifecycle; - Drives innovation around the product development and management cycle. - Prepare business cases for new product developments. - Manage marketing collateral of wealth-owned banking and credit products. - Responsible for the operational query resolution on all aspects of the respective Product portfolio relating to product propositions **Accountability**: Product Management - Collaborates with the respective stakeholders in ensuring that Product value propositions seamlessly integrate into segment and sector value propositions to support "golden baskets" and enable the acquisition and retention of customers in specific segments and sectors to support the targeted commercial and customer shapes. - Management and coordination of activities relating to roll out of new products and product enhancements. - Responsible for updates and change of product and process documentation. - Provides exception reporting on rate and fee deviations and revenue leakage in maintaining key product performance indicators for the respective Product portfolio - Implementation of new product or changes to existing products into the business. - Manage specific product back-book and clean-up initiatives - Leverages the Pricing team for implementation of annual re-pricing processes, maintaining pricing tables drafting of communication and related marketing material. - In collaboration with the Pricing team conduct annual (bi-annual) review of Product pricing and recommends pricing guidelines to ensure market competitiveness - Provide recommendations for the review cycle of pricing changes and communication thereof. **Accountability**: Control - To ensure optimal and compliant control environment within the respective Product Portfolio that appropriately balance risk appetites and customer demand with the need to grow to achieve the financial ambitions and balance sheet aspirations of RBB. **Accountability**: Stakeholder Management - Responsibility for service monitoring from product providers and monitors client experience with particular emphasis on banking products. - Ensures service delivery is in line with SLA's. - Drive interaction with all relevant Infrastructure areas across the business in addressing product management requirements and priorities. - Drive relevant communication related to product changes or new product implementations. - Participate in Group-level activities and forums that impact the respective Product portfolio. - Effectively communicate developments within areas of activity to all relevant internal and external stakeholders. **Accountability**: Finance - Monitor financial performance of products within the Bank by reviewing financial KVD's - Compile Medium term plans (MTP) and Short Term Plans (STP) budgets on an annual basis and track performance against these budgets - Quarterly compilation of Revised Annual Forecast (RAF) - Understand financial impact of product development and marketing activities in order to align with budgets available **Accountability**: Product Strategy - Develop and implement new products that meet the defined Retail Bank target market, customer segment needs and strategic and operational requirements which have been established via regular customer needs analysis and strategic reviews - Manage the respective products by aligning to the product lifecycle stage i.e. from concept to back booking - Understand and interpret products based on robust analysis and aligned with the respective portfolio strategy i.e. financial models, customer survey findings and overall product strategy resulting in informed recommendations as to the future direction/strategy of the product portfolio across the Bank - Assume responsibility for performance monitoring and proactive management of the products by understanding the key performance drivers including behavioural trends, financial indicators and growth/performance metrics - Report to EXCO and relevant Product Head on the performance of the specific product portfolio, via the monthly EXCO and Product Dashboard report on the individual products' performance and trends in the market Perform all other duties as reasonably assigned Education and Experience required - B-Degree in Commerce/ Finance/ Marketing or NQF Level 6 - B.Sc. or B.Com (Honours) (advantageous) - 3 - 5 years Banking experience - 3 - 5 years' experience in Banking Products development and/or management - 12 months experience in