Head Of Documentary Trade Product Management UAE National Only

The primary objective of the role is to deliver a competitive suite of Documentary Trade products in the market, drive programs to capture high quality assets/transaction flows and generate attractive returns for the Bank.

Documentary Trade products and services include Import Letters of Credit, Back to Back LCs, Inward Collections, Export Letter of Credit Advising and Confirmation, Outward Collections, Trust Receipt Loans (Documentary and Open Account), Short Term Trade Loans, Export Bill Discounting (Bank and Customer Risk), and Bank Guarantees / SBLCs amongst others.

Overview

This role will have global product management responsibility for all Documentary Trade products offered by Global Transaction Banking (GTB) to Financial Institutions and Corporates across Mashreq Bank’s network. The role is accountable for delivering the product P&L globally and includes end to end management responsibility for product strategy, innovation, development, and commercialisation across all locations.

Mashreq supports a wide range of transactions from traditional documentary trade to highly structured commodity/non-commodity trade deals, and large Open Account financing programs. The role is expected to drive an ‘origination to distribution’ model for wherein large trade exposures can be syndicated or sold down via the distribution desk run by the Bank’s Investment Banking Division. A large FI network provides a ready source of demand for trade assets that need to be sold down.

The documentary product suite role is supported by a common trade middle office and support team that manages surveys of receivables portfolios, monitors Trust Receipt Loans, ensures monitoring and control of commodity trade finance deals, and supports onboarding of suppliers under Supplier Finance programs, amongst other activities.

Operating locations where GTB trade products are offered include GCC countries (United Arab Emirates, Qatar, Kuwait, Bahrain, and Oman), Egypt, and International Corporate Centres in Hong Kong, New York, Mumbai, and London with more locations to follow in the future.

The product needs of the GCC are covered by the central product team in UAE. Egypt has its own dedicated Trade Product Manager whilst the International Corporate Centres each have a combined Trade/Cash Country Product Manager.

Key Responsibilities

• Drive Overall Financial Performance – drive the overall financial performance of Documentary Trade products by launching new products and driving initiatives for existing products
• to grow volumes, assets and contingents whilst establishing strategies to optimise fee pricing, Net Interest Margins (NIMs) and Risk Adjusted Return on Capital (RAROC). Work with Technology and Operations to digitise processes and lower costs and with Wholesale Risk Management (WRM) to advocate for the most appropriate capital treatment of different Documentary Trade products
• Understand the Market – understand the market landscape for Documentary Trade products by ensuring you and your product team constantly scans the market for regulatory developments, trends, drivers, client needs and competitor offerings (including fintechs and alternative working capital providers) through market analysis, feedback from Sales, direct client interaction, participation in industry bodies and associations, interaction with colleagues at other banks, discussions with Compliance and regulators, industry research papers, and feedback from voice of the client surveys
• Develop the Product Strategy – work with the product management team to develop a comprehensive strategy for all Documentary Trade products by clearly defining the market landscape and drivers, core product proposition, target market and client segments, addressable market size, projected share of wallet and associated volumes/revenues, competitor capability assessment, product development roadmap, and commercialisation strategy
• Drive Product Innovation – establish processes and checkpoints to ensure you and your team identify opportunities to develop new products and enhance existing products based on market/sales feedback, client needs and/or regulatory changes. Prioritise the development pipeline based on a sound commercial assessment of each opportunity and review the quality of investment plans before the team seeks formal approvals. Constantly review the Minimum Value Proposition (MVP) for the product set against each target segment as well as defining the future roadmap for an Enhanced Value Proposition (EVP) to stay ahead of the market and position Mashreq as the leading innovator in the region
• Leverage a Partnership Approach – identify third party service providers, fintechs, digital platforms, ecosystems and emerging channels that can drive new volumes, or act as a future source of new business or competitive advantage through bundling of capabilities. Ensure a sound commercial assessment is made of each opportunity and establish a process to determine which ideas should be presented to the broader GTB Management team. Implement a framework for setting up partnerships including commercial terms and service levels, and set up ongoing performance reviews to optimise partnership delivery
• Support Product Development – participate direct in key product development projects as the Subject Matter Expert whilst also monitoring the participation of team members in the other projects. Ensure the scope of each product build/enhancement is clearly defined in relevant Business Requirements Documents and touch base with the Product Development Head regularly to check that Product Managers are providing effective inputs and supporting key deliverables such as the development of test cases, standard operating procedures, and product implementation guides.
• Commercialise Product Offerings – lead the team in developing and executing a comprehensive commercialisation plan for each key Documentary Trade product including revenue/volume targets, client target market and prospect lists, core marketing/sales materials, product training for Sales and Coverage, and client education events. Track and monitor execution of these plans through regular reviews and identify any issues where help is required to remove roadblocks. Ensure the Product Management team are working on the right deals with Sales to maximise revenues, especially structured trade deals where the inherent risks and complexities are much higher
• Optimise Product Performance – create a ‘constant improvement’ culture within the team by encouraging all team members to constantly look for opportunities to improve the client experience and performance of Documentary Trade products. Engage directly with senior stakeholders in Operations, Service, Technology, Risk, Legal and Compliance to ensure they are supporting key improvement initiatives. Establish reporting metrics and product bench reviews to evaluate product performance including refreshed pricing strategies and market positioning to maximise financial and volume performance. Monitor revenues, costs, volumes, pricing, turnaround times and efficiency across the product set to ensure all products are performing as expected and team members are taking remedial action to address underperformance. Retire products or services that have limited revenues and growth opportunity. Lead industry advocacy to improve the regulatory and legal framework for Documentary Trade products where this can improve the effectiveness, market demand or operational delivery of products
• Build Product Governance & Compliance Culture – ensure that you and the team complete all Product Program Guidelines (PPGs) and/or Country Addenda for Documentary Trade products on a regular basis, that these documents reflect a true assessment of the inherent risks associated with these products, and that products are aligned to the legal, regulatory, compliance, tax, credit risk and other relevant frameworks and internal policies within the Bank. Review changes in the market landscape to understand the impact on the product bench, including changes in the regulatory horizon, and ensure the team pro-actively implement changes to mitigate risks and stay within the risk appetite of the Bank. Set up programs to promote awareness of risk and compliance issues associated with Documentary Trade products within GTB and with Sales and Coverage partners
• Coach and Develop Team Capability – monitor individual performance and provide constant feedback to individuals on positive outcomes as well as areas for development. Establish development plans to close individual capability gaps and develop hiring plans to build out the team bench.
  
  

Key Measures

• Product Financials – product revenues, costs, profitability, and capital returns
• Product Drivers – transaction volumes, assets/contingents, fees, and margins
• Product Innovation – new products or enhancements developed
• Product Commercialization – growth in strategic/priority products and segments
• Product Governance – adherence to GTB and bank compliance frameworks
• Team Development – development of team, team satisfaction
• Stakeholder Management – effective stakeholder engagement.
• Minimum 10 years trade product management experience including at least 5 years managing Documentary Trade products with full P&L accountability
• Strong understanding of doc trade products and associated structured solutions ideally in a global or large regional bank
• Track record developing and successfully commercialising multiple new products
• Experience in agile product and technology development approaches
• Strong people management skills
• Strong analytical and data rationale mindset
• Strong communication ability and executive impact
  
  

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