Assistant Product Manager, Liabilities

Job description / Role

About CBD

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features, and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.

Job Purpose

The role spans many activities from strategic to tactical and provides important cross-functional leadership - most notably between frontline, marketing, and support teams. The role is responsible for setting a liabilities product vision and strategy.

Principal Accountabilities

• Revenue: Responsibility includes the P&L of the product/segment and ensuring the bank remains competitive in banking products and services in the covered segments and markets with the objective to maximize sales, revenue, and profitability.
• Product-Services Development: Identify gaps, develop and launch new or revamped products and propositions to enhance penetration, profitability, brand awareness, and market share.
• Portfolio Management: Analyze portfolio behavior in order to implement effective and targeted marketing programs designed to attract additional business.
  • Yield/Revenue analysis at product/segment level
  • Determine segment product performance.
  • Identify revenue/cost reduction opportunities.
  • Customer retention and loyalty program to minimize attrition.
  • Key performance indicators (KPIs) for performance monitoring and quality measurement purposes and monitor achievement on a periodic basis.
• Strategic: Assist Head of Liabilities in developing and implementing strategies and plans to achieve sales, revenue, and profit targets.
  • Assist Head of Liabilities in building the overall strategy for the divisions, revenue models, and delivery channel and coordinate with Head of Products in preparation of annual balance sheet forecasts and profit and loss estimates. Work closely with Head of Sales and Branches to establish product sales targets for all channels and segments.
  • Responsible for establishing product sales targets and business objectives for each product, working with Head of Liabilities to develop products for distribution via multi-channel to support segmentation strategy.
• Process Reengineering: Responsible for business process and functionality via each channel to ensure customer and staff experience with originating product sales is user-friendly and cost-effective.
• Competition and Market Watch: Ensure ongoing increase in market share and sustainable growth rate in the markets, conduct gap analysis, and continually improve our products and channels delivery. Responsible for increasing market share for PBG liabilities.
• Support Unit Management: Develop seamless relationships with all key stakeholders (Sales, Risk, Legal & Compliance, IT & Operations, Marketing, and Business Quality) in order to ensure smooth launch of new products and propositions. Lead internal and cross-functional teams to solve business problems.
• Training: Ensure adequate product training is provided to sales/distribution channels and service units on a regular basis.

Customer (Internal & External)

• Ensure value proposition is implemented as per the central guidelines and controls defined by the Head of Personal Banking.
• Provide timely and accurate information to all departments and the compliance function as and when required.
• Assist teams in coverage markets to prepare service level agreements (SLAs) for priority servicing of customers and to attain key service indicators (KSIs).
• Actively develop a 1-2 year plan for product development based upon segmentation market research and support communication of this strategy across the retail bank management team.
• Build and sustain effective marketing initiatives that meet customer goals around driving cross-sell of multiple products.
• Oversee the development and execution of core consumer segment (Lapsed, Loyal, Best, etc.) marketing strategies across all business units and evolve strategies to incorporate additional affinities through rigorous testing.
• Work with analytics to develop and test segmentation strategies; forecast and model promotional incentives that drive repeat shopping with meaningful ROI.

Internal (Processes, Products, Regulatory)

• Manage the benchmarking process to determine the group's standing against competition in the international markets covered, to give the group a competitive edge in the premium segment.
• Ensure new and enhanced product launches are fully complete with the applicable internal policies and external regulations in the covered markets; also ensure policies and procedures exist for all existing products and services.
• Ensure provision of training and certification program for staff.
• Create standard performance benchmarking in the markets covered.
• Ensure safe keeping of all records, files, and databases pertaining to the bank.
• Provide accurate product and marketing information to the communications function to enable them to assist in marketing campaigns, etc. It will also entail working with local teams in these markets.

Requirements

Education and Experience

• Degree in Accounting, Finance, Economics, or Business Management/Administration.
• 6 to 8 years in liabilities product development, business analytics, or business finance in reputed financial institutions with a proven track record of high performance.
• Proven ability to build, manage, and foster a team-oriented environment.
• Proven ability to work creatively and analytically in a problem-solving environment.
• Desire to work in a dynamic and fast environment.

About the Company

In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.

By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.

Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.