Commercial Bank of Dubai
About the job
The role spans many activities from strategic to tactical and provides important cross-functional leadership most notably between frontline, marketing and support teams. Strategy. The role is responsible for setting a Liabilities product vision and strategy
Revenue: Responsibility includes the P&L of the product/segment and ensuring Bank remains competitive in banking products and services in the covered segments and markets with the objective to maximize sales, revenue, and profitability.
Product-Services Development: Identify gaps, develop and launch new/revamp products and propositions to enhance penetration, profitability, brand awareness and market share.
Portfolio Management: Analyze portfolio behavior in order to and implement effective and targeted marketing programs designed to attract additional business.
Yield/Revenue analysis at Product/Segment level
Determine segment product performance.
Identify revenue / cost reduction opportunities.
Customer retention and loyalty program to minimize attrition.
Key performance indicators (KPIs) for performance monitoring and quality measurement purposes and monitor achievement on periodic base.
Strategic: Assist Head of Liabilities in developing and implementing strategies and plans to achieve Sales, Revenue and Profit targets.
Assist Head of Liabilities in building the overall strategy for the divisions, revenue models and delivery channel and coordinate with Head of Products in preparation of annual Balance sheet forecasts and profit and loss estimates. Works closely with Head of Sales and Branches to establish product sales targets for all channels and segments.
Responsible for establishing product sales targets and business objectives for each product working with Head of Liabilities to develop products for distribution via multi-channel to support segmentation strategy.
Process Reengineering: Responsible for business process and functionality via each channel to ensure customer and staff experience with originating product sales is user friendly and cost effective.
Competition and Market Watch: Ensure ongoing increase in market share and sustainable growth rate in the markets, conduct gap analysis and continually improve our products and channels delivery. Responsible for increasing Market share for PBG Liabilities
Support Unit Management: Develop seamless relationships with all key stakeholders (Sales, Risk, Legal & Compliance, IT & Operations, Marketing, and Business Quality) in order to ensure smooth launch of new products and propositions. Lead internal and cross-functional teams to solve business problems.
Training: Ensure adequate product training is provided to sales / distribution channels and service units on regular basis
Customer (Internal & External):
Ensure value proposition is implemented as per the central guidelines and controls defined by head of Personal Banking
Provide timely and accurate information to all departments and the compliance function as and when required.
Assist teams in coverage markets to prepare service level agreements SLAs for priority servicing of Customers and to attain key service indicators (KSIs).
Actively develops a 12-year plan for product development based upon segmentation market research and support communication of this strategy across retail bank management team.
Build and sustain effective marketing initiatives that meet customers goals around driving cross sell of multiple products.
Oversee the development and execution of core consumer segment (Lapsed, Loyal, Best etc.) marketing strategies across all business units and evolve strategies to incorporate additional affinities through rigorous testing
Working with Analytics to develop and test segmentation strategies; forecast and model promotional incentives that drive repeat shopping with meaningful ROI
Internal (Processes, Products, Regulatory):
Manage the benchmarking process to determine the groups standing against competition in the international markets covered, to give the group competitive edge in premium segment.
Ensure new and enhanced product launches are fully complete with the applicable internal policies and external regulations in the covered markets; also ensure policies and procedures exist for all existing products and services.
Ensure provision of training and certification program and other staff.
Create standard performance benchmarking in the markets covered.
Ensure safe keeping of all records, files, database, pertaining to the bank.
Provide accurate product and marketing information to Communications function to enable them to assist in marketing Campaigns etc. it will also entail working with local teams in these markets.
Education and Experience:
Degree in Accounting, Finance, Economics or Business Management / Administration
6 to 8 years in Liabilities Products development, business analytics or business finance in reputed financial institutions with a proven track record of high performer, Proven ability to build, manage and foster a team-oriented environment , Proven ability to work creatively and analytically in a problem-solving environment , Desire to work in a dynamic and fast environment