Assistant Product Manager

The Role

About CBD

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.

Job Purpose

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 TBG 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 and services, and manage the development of new products and enhancement of existing products and services.
• Assist the Product Managers to drive the successful development of new products and the effective management and enhancement of existing products by making recommendations based on analysis and research regarding product design, pricing, distribution, and other processes.
• Ensure business stability, growth, strategic alignment, and enhanced profitability for all products.
• Act as an industry expert as well as being the primary contact for all internal stakeholders on Escrow and Payments Products.
• Develop product opportunity studies highlighting benefits, costs, and risks.
• Establish strategic priorities, sales objectives, and revenue goals for products and the relevant distribution channels to maintain and accelerate revenue growth.
• Identify key levers and priorities for large amounts of information by applying critical thinking skills to the analysis of internal and external data.
• Prepare business cases and strategy for new/enhanced products roll-out with excellence in analytical and product management skills with prior project management experience.
• Manage and document changes to policies and procedures that arise during the client onboarding process to improve future client experience, bank's operational and local regulatory experience.
• Demonstrate behavioral competencies with a client-centric mindset. Be 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 customer document requirements for enrolling new services. Recommend adequate changes in the process for customer application forms, simplified onboarding processes, etc.
• Develop business requirements for enhancing existing platform and overall TBG capabilities, and work with IT department, audit, risk, compliance, operations, and other stakeholders to formulate the project plan, delivery schedules, testing, and implementation.
• Monitor the project progress in all aspects from requirements conceptualization to implementation. Lead and monitor progress on IT meetings and the budget-related activities for new product investments.
• Analyze, plan, and execute pilots and proof of concepts for emerging payments and new technologies.
• Monitor transactions and prepare reports on transaction volumes and customer enrollment statistics, and digital penetration dashboards.
• Serve as subject matter expert for sales managers to help review client needs, formulate proposals, assist in implementation, and serve as liaison with internal and external service providers to resolve complex client issues.
• Ensure compliance 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 TBG products and services.
• Drive the digital and emerging payments product strategy supporting the bank. This will include identifying and prioritizing product initiatives.
• Conduct periodic client meetings to ascertain product performance and new requirement discussions. Support client mandates by providing RFP responses to product-related queries, by joint calling with the client on important client pitches and other related activities such as terms and conditions review, etc.
• Communicate new product updates and enhancements, market trends to sales and client excellence teams and assist in monitoring product performance in terms of volumes, value, and revenue.
• Work with concerned units to ensure product MIS and data analysis is performed for accurate management and reporting purposes.
• Ensure all existing and new deals have positive revenue contribution to the business and deliver the annual TBG budgets in partnership with PCM Sales and Advisory and Client Excellence team.
• Build a team of Escrow and Payments experts to take TBG to the next level in the digital payments ecosystem.
• Identify new initiatives related to Escrow Services, obtain internal/external clearances, draw processes in line with the regulations and internal policies, provide training/presentation, and implement roll-out.
• Conduct statutory reporting and liaison with regulators, RERA, and lands department on a regular basis.
• Provide monthly/periodic MIS and any reports/details required for escrow/OA accounts, market analysis, share of wallet, etc.
• Assist in the development of the escrow system along with enhancing the overall product offering, assisting in all activities related to escrow management.

Requirements
Education and Experience

• Degree in Finance or Business Administration.
• Certified International Cash Management (Cert. ICM) preferred.
• 5-8 years' experience in the field of Escrow and Payments Product Development, of which 4-5 years in the financial services industry.
• Strong understanding of Payments and Receivables products, Escrow and Owners Association, Liquidity Solutions, Electronic payments in banking and financial services sector.
• Knowledge of various banking operations and experience in product management and driving product change/transformation initiatives of Payments and escrow management.

Requirements 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.