Product Manager Lending
About the job
Our client is a highly respected niche private bank. They are now seeking to bring in an experienced Product Manager to join their Professional services team (Lending).
They are looking for a proactive self-starter, possessing entrepreneurial flair with a desire to constantly develop and able to work independently.
Overall objectives of the job:
Support the Senior Product Manager in ensuring the existing and new lending products are profitable in line with budgets, performing as customers would expect, are in line with legal and regulatory obligations, internal policy and industry best practice.
Support the Senior Product Manager with the development and execution of the bank’s lending product strategy, including: strategic objectives, product design, pricing & end-to-end process design in line with the vision of the bank.
Responsible for all aspects of product performance including sales volumes, operational and compliance performance, profitability and monitoring and reporting. Production of dashboards for monthly Product Governance Committee, and ad hoc requests for data, as well as perform high-quality data analysis to provide proposals or recommendations for the Senior Product Manager to consider.
Responsible for the completion of high quality annual product reviews for existing lending products.
Work in partnership with the bank’s operational, technology and customer facing areas in all aspects of the new product life cycle design and execution, and project management.
Investigate, analyse and interpret customer needs, competitor insights, complaints and data / MI to prepare and recommend proposals to the Senior Product Manager.
Liaise with other key functional areas to ensure appropriate management of all associated risks: Finance, Legal, Compliance, Risk and Treasury, and lead on regulatory projects or remediation as a business SME.
Have a good understanding of Business and Personal lending products and ideally an understanding of new product development, performance analytics, pricing and funding strategies, forecasting and planning (working closely together with the Finance team).
Strong mortgage knowledge will be beneficial but not necessary.
Principal duties and responsibilities:
Manage all aspects of product management including:
- Product performance – define, monitor and manage product performance of the lending portfolio to identify the drivers of value.
- Product design – development of new products including features / product portfolio to anticipate or respond to customer and market demand, industry trends and regulatory change.
- Pricing strategy – analyse, develop and implement pricing strategies for new and existing products aligned with and in support of customer strategies, to achieve revenue opportunities.
- Develop appropriate MI to support performance management, interpreting and recommending actions to improve or drive performance to the Senior Product Manager.
- Undertake regular competitor and market analysis producing regular written and verbal updates to Senior Product Manager.
- Conduct regular monitoring of customer feedback, customer complaints and breaches – including root cause analysis and rectification of issues through remediation exercises.
- End-to-end process management – working with all contributors to the value chain manage the underlying processes that support the product delivery.
- Compliance of products – ensure at all times with the support of the compliance and legal teams that the products meet all regulatory standards and are within the internally set risk appetite.
- Close liaison with the front-line Managers and Lending Operations teams to ensure compliance with all regulatory requirements including conduct risk, as well as the products are operating efficiently and as expected.
- Ensure appropriate engagement and sign-offs by governance stakeholders at all times.
- To become an internal subject matter expert on lending products.
- Work closely with the process improvement programme in the design and build of product related end –to-end processes, policies and procedures.
- Incorporate feedback from customers and key internal stakeholders into product strategy development and find ways to expand product reach, and to optimise value for the product portfolio.
- Issue management and resolution and completion of any root cause analysis to ensure likelihood of repetition is both understood and where possible reduced.
- Support product initiatives to deliver a simple, integrated and responsive customer experience, including process improvements; identify customer pain points and work with key stakeholders to deliver product and service improvements.
- Member of Working Groups.
Represent the bank at some relevant industry forums eg UK Finance, ensuring developments are widely disseminated and understood by the impacted business areas.
Must have a minimum of 5 GCSEs grade A-C or equivalent qualification.
Must have a minimum of 2 A Levels grade A-D or equivalent qualification.
Degree level education or equivalent experience.
Background and experience necessary:
2-5 years experience in lending, mortgage experience preferable.
Experience of product management.
Understanding of product drivers and ability to balance risk and commercial drivers.
Excellent oral and written communication skills and organisational skills.
Driven, self-starter with a passion for customer excellence.
Proven analytical skills, numerate.
Collaborative skills to work within a team - willingness to develop understanding by collaborating with various stakeholders and teams.
Self motivated individual with a ‘can do’ attitude and ability to energise others.
Strong organisational skills, attention to detail.
In return, our client is offering a highly competitive basic salary of c £60-65 DOE with c 12-15% bonus. In addition, there is 20% NCP, life ins, healthcare, and 25 days holiday + other benefits.
Whilst the office is London-based our client is able to consider candidates who can commute or stay in London for periods of time in the week combined with some home working. If you are looking for a new challenge and fit the criteria for this role we would like to hear from you.
From £60,000 to £70,000 per annum + bonus and excellent benefits package
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