Senior Product Manager, Payments

Job description / Role

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:

• Responsible for taking lead on researching, assessing, and coordinating a new product's build in addition to manage the development and improvement of existing products and services, to better meet customer needs.
• Responsibility for BAU elements of product management as well as projects involving development and change. It also requires the confidence to propose new ideas, build project plans and develop excellent relationships with internal and external stakeholders.
• Contribute to the achievement of Payments and Cash Management plans by gaining approval for developing, and successfully marketing new and existing products for the Bank to support its business strategy, by exploiting market opportunities, differentiating its offerings and meeting customer needs in the most effective way

Principal Accountabilities:

• Review new developments in strategic markets, evaluate potential products & services, and manage the development of new products and enhancement of existing product & services.
• Collect and analyse feedback from customers, stakeholders and other teams to shape requirements, features and products.
• Work with senior management to create product plans and roadmaps.
• Incorporating feedback and input from customers, partners, vendors and internal teams on product strategy and finding ways to expand product market reach.
• Experience in managing SWIFT Payments network, real-time payments and fund transfer enhancements and implementations across all segments of the bank within UAE.
• Ensure business stability, growth, strategic alignment and enhanced profitability for payments products.
• Act as an industry expert as well as being the primary contact for all internal stakeholders on payment products.
• Developing product opportunity studies highlighting benefits, costs & risks.
• Establish strategic priorities, sales objectives, and revenue goals for products and the relevant distribution channels to maintain and accelerate revenue growth.
• Preparing business cases and strategy for new / enhanced products roll-out.
• Excellent analytical and product management skills with prior project management experience
• Ability to manage and document changes to policies and procedures that arise during the product development process to improve future client experience, bank's operational and local regulatory experience.
• Behavioural Competencies with a demonstrated client-centric mind-set
• A team player, eager to support and learn, and can foster collaborative working relationships across the organization
• Adhere to policies including escalation and compliance requirements, and follow any other relevant internal controls and procedures as they relate to process, products, policies and regulations.
• Develop business requirements for enhancing existing product capabilities, and work with IT department, audit , risk, compliance, operations and other stakeholders to formulate the project plan, delivery schedules testing and implementation of Tier 1 strategic products.
• Monitor the project progress in all aspects from requirements conceptualization to implementation. Lead and monitor progress on Fortnightly meetings and the budget related activities for new product investments.
• Recommend adequate product suggestions and feedback for product and process improvement ensuring to follow the set Bank's procedure. Keep status of applications, implementations and fee recovery updated
• Analyse, plan and execute Pilots and Proof of Concepts for emerging payments and new technologies.
• Monitor transactions and prepare reports on transaction volumes and customer statistics.
• Ensure to comply with the audit requirements, internal and external reporting obligations etc in line with the policy guidelines, to ensure high standards of uniformity and consistency across the Bank for PCM products and processes.
• Work with Legal, Audit, Compliance, Operational Risk, Technology, Central Operations, Coverage and other stakeholders to successfully launch and manage products & services. Identify product issues and provide resolution to potential problems.
• Conduct periodic wallet sizing exercise at product level with the industry.
• Understand banks infrastructure to ensure that operations and systems are able to support the products launched and work with technology and Operations to ensure that the functionalities are as per required specifications.
• Manage vendor relationships, including working with vendors in negotiating and reviewing contracts and conducting vendor reviews.
• Communicate new product updates and enhancements, market trends to sales and implementation teams and assist in monitoring product performance in terms of volumes, value and revenue. Work with concerned units to ensure product MIS is in place for accurate management report.
• Knowledge of established payments propositions, processes, and awareness of the wider payments market including alternative payment.

Requirements

Requirements

Education and Experience

• Degree in Finance or Business Administration and techno functional certifications
• PMP Certification is an added advantage.
• Previous experience in managing various payment rails, SWIFT and real time payments and regulatory payment products.
• Strong understanding of Payments and electronic real time payments in banking and financial services sector
• Knowledge of various Banking operations and implementation involvement on the CBUASE NPSS project are required.
• Experience of product management and driving product change/transformation initiatives of Payments and receivables products.
• Minimum 5-8 years' experience in product management, payments.

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.