Key Responsibilities:
Product & Proposition Development
- In partnership with the product owner, support the identification and assessment of opportunities to enhance client and product propositions aligned to strategic objectives, develop products to meet business needs, responsible for enabling and guiding product managers to achieve the same.
- Use client insights, data, MI and research, to identify risks and opportunities.
- Design, test and deliver new initiatives, translate client needs (and vulnerable clients) into working products meeting Consumer Duty outcomes e.g. fair value, support Product Managers to design and deliver in their product sets.
- Identify foreseeable client harm and design effective controls to manage it.
- Produce proposals (business case documents) for product owners, present to committee and achieve approval, oversight of Product Manager’s proposals.
- Support Head of department to deliver the portfolio of new developments, project manage to time and budget, oversight of product managers delivery.
- Ensure own and direct reports regularly engage stakeholders, including marketing to effectively launch new products and propositions.
Product & Proposition Management
- Responsible for managing and maintaining banking and treasury products, assist and oversight management of Product Managers product sets.
- Post-launch reviews of all new products, identify if client outcomes are met.
- Use data and MI to monitor, assess and report performance, client outcomes and foreseeable harm to product owners and assess regulatory compliance.
- Support consumer understanding by regular product collateral reviews, oversight of reviews performed by Product Managers.
- Identify opportunities to enhance products and propositions, make recommendations to product owners, drive improvements.
- Identify pain points in client journeys, operational engagement to deliver improvements, oversight of Product Managers client journeys.
- Decommission products & Propositions if longer required by product owners or not delivering appropriate client or business outcomes.
Product & Proposition Governance
- Complete regular product and service reviews of all in scope products
- Oversight of activities, tasks and reviews performed by Product Governance and Product & Proposition Managers, ensure completed to time and quality.
- Perform checks and controls to ensure products & Propositions operate in line with the New Consumer Duty and other relevant regulatory frameworks.
- Assist with producing committee reporting, deputise for head of team.
- Perform regular service reviews with 3rd party product providers to ensure they deliver service performance and build effective relationships.
- Provide technical support, monitor competitors and market.
- Ensure compliance with policies, procedures and risk frameworks, monitor compliance of Product Managers, ensure relevant tools and systems are used.
Line Management
- Manage a team of Product Governance and Product & Proposition Managers, a Product & Proposition Assistant reports to the Managers.
- Develop the team by identifying any knowledge or experience gaps, provide training and coaching and ensure continuous learning.
- Set and monitor objectives aligned to the Product & Proposition strategic plan Regular 1-1s, coordinate activity, oversight of work to ensure high quality output, provide technical guidance, monitor key performance indicators.
Risk:
- Responsible for managing risks inherent to the role by diligently observing internal policies and procedures.
Key Interfaces:
- Product owners, senior level stakeholders, department heads
- Product & Proposition team and insights manager
- Compliance, legal & risk functions
- Marketing, business management, operations and change teams
- Front office distribution teams, advisers and relationship managers