Product Manager - Cards RBG - Head Product 41 Retail Banking Group

This role is responsible for managing the credit cards acquisitions and product programs at Mashreq across the customer life cycle (product development, acquisition, early account management, life cycle management, product profitability, product maintenance). The objective of the role is to achieve sustainable growth in business volumes, revenues and net profits through developing attractive & sustainable products, optimizing credit cards acquisition, and running innovative portfolio and lifecycle programs.

Key Result Areas

• Design, develop and maintain attractive and sustainable card products that drive customer acquisition and sustainable card usage – proposition, target customer segments, financial viability, market positioning & launch strategies, implementation roadmaps, sales strategy and BAU maintenance
• Continually explore potential co-brand and other product partnerships in the market, prepare business case pitch decks along with detailed financial models and align with such potential partners as well as internal stakeholders on the product constructs and their implementation
• Evaluate the existing value propositions on a regular basis and make strategic as well as tactical changes to ensure the CVP remains best-in-class
• Run simulation models and analyses to conduct detailed cost estimations and cost-benefit analysis across products
• Identify and form strategic, long term as well as event-based partnerships to augment CVPS. Drive onboarding and integration of all partners with relevant internal stakeholders – Procurement, Finance, Legal, IT, Ops etc.
• Drive product launches, re-launches and maintenance, working closely with internal stakeholders such as IT, Ops, Marketing and Digital. Ensure all approvals are in place as per the bank’s policy guidelines
• Conceptualize and drive credit cards acquisition strategies – digital user experience, policy optimization, channel management, and performance monitoring
• Work closely with the risk team to evaluate the performance of existing policy programs, and propose and implement policy changes and/or test programs in order to maximize the risk-adjusted returns from new acquisitions for the business
• Design and run an effective onboarding and early account management program, aimed at maximizing activation and early spends
• Adopt a digital-first strategy for all product and portfolio actions – acquisitions, early account management, card maintenance, card services, portfolio/inorganic sales, engagement programs and customer retention
• Own the end-to-end customer experience for all initiatives – digitization of services, straight-through processing, first-point-resolution, management of customer complaints and resolution TATs
• Work closely with the Payments Schemes, including the commercial and legal agreements with the Schemes
• Deliver management presentations and updates on regular business performance, opportunities and key risks
• To understand and define customer segments and establish strategies for product development based on customer needs and wants.
• To consistently understand customer needs through consumer research and to define areas of alliances and customer benefits to bring best in category product features.
• To enhance the scope of business through targeting new segments, processes and product approaches.
• To launch innovative products targeted towards the preferred segments based on potential, profitability and business needs.
• Launch platinum cards which will be the key driver for future growth and profit.
• To work with sales to define acquisition channels and sales objectives for the business and to define the overall acquisitions strategy year on year.
• To define a segmented strategy of the segments most profitable and targetable by the business.
• To pitch, win, execute and implement co-branded card programs to provide a consistent and energetic proposition for the distribution channels.
• To manage the co-branded relationships to ensure alignment with the overall business needs of the business.
• Manages the fee income revenue lines of the cards product to ensure achievement of annual business targets.
• Post Graduate in Marketing Management
• 8-9 years Marketing & Brand management experience with specific exposure of at least 3 years in a leading credit cards business.
• Excellent leadership, interpersonal and communication skills required to be able to implement and coordinate new product launches, product revamps and other promotions, obtaining internal cross-functional support.
• The job involves strategic vision and a good understanding of the dynamics of the cards business, especially from a revenue perspective.
• The job holder should have the balance, judgement and maturity to independently evaluate and execute internal new product ideas and offers from external partners.
• Excellent analytical skills are required to be able to track portfolio trends and identify weaknesses / opportunities to capitalize on the acquisition opportunities.
• Good PC skills and system / process understanding to enable the individual to be hands-on when involved with new product development, process automations and MIS generation.