Job description
Position: Product Development Manager
Work Location: Head Office
Division/Department: Business Development and Marketing
Reports to: Head of Business Development and Marketing
Main purpose of the job
The Product Manager is responsible for both product planning and product marketing. This includes managing the product throughout the Product Lifecycle, gathering and prioritizing product and customer requirements, defining the product vision, and working closely with the business team, to deliver winning products. It also includes working with sales, marketing and support to ensure revenue and customer satisfaction goals are met. The Product Manager’s job also includes ensuring that the product and marketing efforts support the bank’s overall strategy and goals.
- Ensure the Bank’s product portfolio remains competitive and profitable by:
- Continuous product development
- Carrying out regular product portfolio performance reviews and undertaking any necessary product enhancements to
- Increase growth and maximise revenues and/or
- Identify remedial actions for product shortcomings.
- Take a lead role to ensure that product portfolio remains relevant to the bank’s overall business strategy.
- Maintain a product portfolio that delivers balanced growth of the business.
- Perform customer segmentation that will lead to focussed product development.
- Provide input and guidance in the development and deployment of products to key departments such as operations, IT, training and marketing.
Key responsibilities:
- Conducting R&D activities and developing conceptual framework for product innovation from across the board.
- Conduct the studies and review on demand of banking products and services.
- Developing and presenting the new products, product ideas and getting the inputs and approvals from each related department and preparing the feasibility reports.
- Planning and designing new products packaging and/or related business initiatives with appropriate sharia concept, risk assessment and ensure compliance with the Bank’s policies and regulatory requirements.
- Monitoring the market and planning new products regarding the bank’s strategy as well as preparing the product plans.
- Monitor market trends through analysis of information collected internally and externally by the Bank and from research in the market to identify potential areas for the development of new products, and the restructuring of the existing products and services.
- Provide regular feedback on product requirements for local markets, including product specifications functionality, pricing and so on.
- Prepare and execute local product launches and report on expectations of market size, market uptake, market share and expected budgeted sales.
- Oversee development of advertising, public relations and all marketing communications to meet product objectives.
- Use statistical methods and applications to analyze customer feedback and make concrete recommendations regarding guidelines and product design at the Bank.
- Analyze and support both category and cluster marketing plans to align with brand strategy and achieve annual operating plan goals.
- Monitor development process and ensure compliance to schedule and timeframe.
- Define customer segmentation and target groups and assess customer needs and requirements for defined segments and target accordingly.
- Adhere to Service Standards of performance.
- Manage relationships with support groups within organization e.g: IT, Operations, business, Sales, compliance e.t.c.
- Managing and administrating the product development processes and product pilot test/ roll out and activities.
- Initiating and coordinating the training sessions about the new products and Provide product briefing and business support.
- Perform any other duties as assigned.
Human Resources Management
- Liaison with the Bank’s Human Resources Head in co–coordinating staff appraisal programmes and overall supervision of staff to ensure that business targets of the Department are achieved.
- Prepares and manages Department’s establishment, staff cost, and budgets to ensure that they are within the overall budget.
- Identify in liaison with the Human Resources Head appropriate on the job training and development programmes and to act as internal resources development for staff being supervised.
- Assessing manpower requirements in the form of well-structured operations, job descriptions and manning levels in the department.
- Build HR resources to meet Branch Objectives.
- Efficient leave management.
- Improve employee satisfaction and regular performance appraisals.
- Develop staff skills and Training.
Key performance measures
- Market growth (USD)
- Customer growth (%)
- Customer growth (%)
- Market profit (USD)
- Regular market analysis and evaluation (#)
- Market share (%)
- Market share growth (%)
- Provide regular customer feedback (#)
- Customer satisfaction score
- Customer product awareness score
- Marketing campaigns (#)
- Marketing spend(USD)
- Promotional spend (USD)
- Customer brand awareness score
- New customers (#)
- Qualified leads (#)
- New accounts (#)
- Internal communications/publications (#)
- Press releases & press mentions (#)
- Turnaround time (TAT)
Important relationships
- Job is both internally and externally focussed, requiring that the individual be highly adaptable in terms of personal style and the development of business knowledge related to banking.
- The job requires relationships be built across the bank at senior level.
- The jobholder will develop and nurture an external network of relationships.
- The job requires external relationships be maintained with market research companies, marketing companies, press and associated PR communication channels
- The incumbent will have supervisory responsibility with respect to market development for the on all matters of a strategic nature, marketing management and performance reporting. He/she will request input and/or participation from the Market Support to deliver bank reports and evaluations. The initial requirements will be directed through the CEO but, once established.
- Appropriate regional and cross country forums will require participation to ensure teambuilding and sharing of best practice across the organisation.
Position Holder | Line Manager | Matrix Manager | |
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Job details
Today
Posted date
Jan, 31
Expire date
Assessment/
evaluation
Category
Mogadishu
Location
Full-Time
Job type
10+ years
Experience Level
IBS Bank is Somalia’s premier global commercial and Investment bank with its headquarters in Mogadishu, the capital city of Somalia. IBS was incorporated in July 2013 and licensed by the Central Bank of Somalia (CBS).
Contact Us
Our Location
Trepiano Building, Maka-almukaram Street P.O.Box : 777, Waberi, Mogadishu Somalia
Email Address
info@ibsbank.so
support@ibsbank.so
Phone Number
Emergency Cases
+252 61 3744444
- Sat-Thu 8Am- 5PM; Friday Closed
