Senior Product Manager

Job description / Role

Role Purpose

To lead and manage the performance of Home Finance and real estate in general products as per the bank's strategy. The business developer will implement strategy through the management of product financials, parameters, processes, business development, and marketing plans. The product manager will have end-to-end ownership of all aspects of the product performance.

The senior product manager is also the sole owner of the product manual which needs to be kept up to date. This document will include all aspects of the product with required policies, procedures, and approvals.

Key Accountabilities of the Role

• Generating client leads to finance real estate property.
• Counseling customers on market conditions, rates, prices, and mortgages.
• Developing a competitive market price by comparing other competitive banks.
• Creating lists for real estate sale properties, with information on location, features, square footage, etc.
• Building customer cases with all required documents as per ADIB TM/RAC.
• Finalizing deals with customers for signing facility offer letters, mortgage contracts, and other related documents.
• Facilitating negotiations between buyers and sellers.
• Reviewing purchase contracts to ensure the terms are met.
• Promoting properties with ads, listings, and open houses.
• Preparing loyalty contracts, purchase agreements, rental agreements, deeds, and other documents for each real estate transaction.
• Maintaining your real estate license and knowledge.

Products

• Manage and prepare products (design, development, and enhancement) to ensure that products are in line with market needs.
• Take the lead in product innovation and marketing.
• Develop and effectively cascade the bank's management strategy into Home Finance Department strategy and translate it into business plans, product strategic initiatives, marketing, and business development steps to ensure vertical alignment and horizontal integration with other interfacing functional strategies.
• Maintain product/credit programs and manuals up to date with necessary procedures and approvals. This document should cover all aspects of the product such as strategic partnerships, product description, sales channel distribution, third-party agreements, lists of current business partners, organizational charts, financials, special product memos, and more.
• Update the product pricing document periodically reflecting market competitive position, variation of cost of funds, and any other regulatory effects.
• Maintain a practical form of products' term sheets that can be used internally and externally with business partners.
• Follow up on internal and Sharia audit points and maintain a log of closed and open items.

Policies, Systems, Processes & Procedures

• Document and keep all product policies and procedures manuals updated.
• Ensure that these are implemented and tested by the units through a well-documented key controls self-assessment process (KCSA).
• Constantly work on enhancing the current process by identifying gaps and areas of improvement including technology, WFS, CRM systems, etc.
• Obtain Sharia, operations, and legal approval when necessary on all policy and procedure changes.
• Set service level agreements by liaising with other internal departments like Credit, Sharia, Legal, MPM, and ensure best turnaround time for customers.
• Act promptly to either resolve directly or escalate to appropriate levels any unresolved issues.
• Act as customer service and experience ambassador by leading from the front.

Business Development

• Provide market intelligence based on updated market scans and competitive position to fine-tune business direction.
• Transform strategy into business partnerships with mortgage brokers, real estate brokers, developers, evaluators, land departments, government programs, title transfer officers, and solicitors through MOU signing processes.
• Follow up on relevant units and departments, externally and internally, to achieve the objectives of strategic partnerships.
• Identify and suggest ADIB participation in industry events and project financing such as Cityscapes and IPS.
• Initiate networking events and set an attractive agenda for broker events.
• Set up a training program for business partners internally and externally to introduce current products and product enhancements with any major promotions.
• Establish current channel distribution ratios and evaluate enhancement activities such as referral incentives and payout volumes.

Marketing

• Work closely with the marketing team to develop product collateral such as FAQ flyers, customer application forms, declaration forms, product feature flyers, customer letters, and more.
• Work on enhancing and maintaining the home finance microsite.
• Establish and manage a product marketing plan throughout the year including email marketing, SEM, IP targeting, and others.
• Initiate promotion plans based on the product strategy such as radio ads, street panels, SMS campaigns, TV ads, and in-flight ads.

Specialist Skills / Technical Knowledge Required for This Role

• Bachelor's degree in business, preferably with a specialization in finance or accounting.
• 8 to 10 years relevant experience in the banking sector.
• Understand real estate market/industry dynamics and key drivers of change in market conditions.
• Good knowledge of UAE banking practices, regulations, and risks.
• Good planning, organization, interpersonal, and communication skills.
• MIS skills and project management skills.
• Time management skills.
• PC literate with exceptional analytical skills.