Retail Product Manager
Objective of the job:
Administrative and executive supervision of subordinate functions, participation in the study and development of the personal product / loans in Bank of Jordan and the external branches provided by the bank to its customers of all categories and the innovation of new services to keep pace with developments in the market and to meet the needs of customers to raise their level of satisfaction in order to enhance the bank’s competitive position and increase its market share.
Responsibilities:
1. Determines the objectives of the units and the subordinate divisions in conjunction with them, ensures the efficiency of the implementation of the work mechanism with the required speed and accuracy, administratively supervises their performance and evaluation, and determines and distributes their vacations with the aim of continuing work at all times.
2. Designs/develops/introduces the personal loan product and services provided by the bank to customers (current and targeted) in their various segments according to the specific customer needs of each segment and in line with the bank’s strategic directions, based on market studies on competitors’ products and services and identifying strengths and weaknesses in terms of specifications, conditions, pricing and repayment mechanism compared to the bank’s services and products.
3. Monitors and analyzes market developments and competing sectors, participates in proposing / developing / developing new services and products for the personal loan product based on market studies on competitors’ products and services, analyzing product data and customer needs, comparing them with the services and products provided, and providing the necessary studies and recommendations to his direct supervisor in order to reach a distinctive competitive position for the bank.
4. Supervises / follows up the performance of the programs of personal loan products offered in Bank of Jordan and foreign branches and follows up the observations about them in a periodic form of follow-up pricing and comparison with the banking market and the profitability … etc. and supervises the study of the volume of sales of these products and the dues resulting from them according to the prescribed segments and supervises the identification of problems and obstacles associated with them to redesign to ensure the achievement of their objectives and increase profitability and prepares studies on them and submits them to the direct supervisor.
5. Proposes ideas and initiatives aimed at increasing the profitability of the personal loan product in Bank of Jordan and foreign branches by re-studying the interest and commissions / preparing advertising campaigns / loyalty programs … etc. through the use of all available means and methods and through the continuous search for the best international practices in this regard and proves the recommendations for them and passes them to the direct supervisor.
6. Follows up the development of advertising plans related to the bank’s products and services of personal loan products, the estimated budgets related to them, and the creative promotional ideas of the product, and follows up the results of advertising campaigns related to them in all advertising means (Online and Offline) / various social media / digital marketing means on the scheduled dates in coordination with the Promotion Unit.
7. Supervises / prepares reports related to the performance of personal loan products for the purposes of improving and developing these products and submits them to the direct supervisor to ensure that they achieve the desired objectives.
8. Supervises the response to requests and inquiries related to the product and follow-up and work to address the obstacles and difficulties that you may face.
9. Supervises/prepares, approves and provides training materials to the Bank’s concerned employees, including awareness of current and new services and products.
10. Review the requirements of the credit scoring system and credit programs and compare them with competitors in terms of affecting the bank’s competitiveness, taking into account the size of the risks and submitting recommendations thereon to the concerned parties in order to achieve the bank’s objectives.
11.Supervises the development of standards and indicators on the performance of the personal loan product to serve each segment for the purposes of evaluating all products and analyzing their performance in terms of (target growth figures, profitability, pricing…. etc).
12.Reviewed the internal and external audit reports related to the work of the subordinate functions and follows up on addressing problems and observations radically to prevent their recurrence in the future.
13. Acts as an original / alternative member within the business continuity plan and the emergency teams duly circulated, and carries out all the tasks required of him under the plan in a way that ensures reducing the effects of crises and restoring operations as soon as possible.
Skills and Competencies:
- University degree in the field of administrative or banking sciences or any related discipline.
- Practical experience for at least (7) years up to 10 years in the field of retail products development.
- Knowledge of the banking market and different market sectors.
- Good knowledge of the policies and procedures governing work and their updates (internal and external).
- Knowledge of the regulations and laws of the Central Bank of Jordan and the regulatory authorities.
- Full knowledge of the services and products provided by the bank and the products of competing banks.
