Product Development Manager – Transaction Banking at Co-operative Bank of Kenya

Reporting to the Head – Product Development & Management, Transaction Banking & E-Commerce, the role holder shall Lead the ideation, conceptualization, implementation, management and enhancement of the Transaction Banking & eCommerce products, programs, initiatives, research, and projects. They will also Manage the performance of the Transaction Banking & eCommerce products through its lifecycle ensuring that customer value and ROI are optimized, as well as work with other stakeholders to develop new and innovative Transaction Banking & E-Commerce solutions that straddle across business segments.

The Role

Specifically, the successful jobholder will be required to:

• Create new innovative Transaction Banking & E-Commerce solutions and enhance the existing ones as per customers’ needs. 
• Effectively determine Transaction Banking & E-Commerce product strategy and pricing to expand market share and ROI.
• Constantly adapt to the evolution of the market, detecting and studying the potential opportunities to create a new product and/or ensure the adaptation of current products.
• Work with ICT, partners and other stakeholders to ensure that the functionalities of the products are as per the required specifications before release to the market. 
• Establish and maintain strategic & mutually rewarding partnerships with key players like FinTech, Regulators and Customers and lead in contract negotiations.
• Work with the marketing team and other stakeholders to develop clear product GTM and Commercialization strategy for new and revamped products. 
• Conduct/ attend customer presentations with sales teams, particularly for complex customer requirements for need analysis. 
• Analyze product capabilities of competitors and develop more responsive product offerings.
• Support the sales team by developing solutions for multi-product deals and creating pricing options for proposals in order to ensure profitability levels are maintained. 
• In partnership with the sales team, deliver the yearly Transaction Banking & E-Commerce product revenue goals and deliverables and ensure all existing and new deals have positive revenue contributions to the business. 
• Coordinate with sales team to provide pre-sales consultancy to enhance the transaction banking & e-commerce value proposition to targeted sectors.
• Ensure all pertinent communication on product upgrades is sent to the customers within assigned portfolios promptly and documented.
• Review, evaluate and manage product risks to ensure strict adherence to the bank’s risk framework and wider industry regulations.
• Conduct Market Research & Insights on new and emerging trends in Digital Transaction Banking.

Skills, Competencies and Experience

The successful candidate will be required to have the following skills and competencies: 

• A Bachelor’s degree in a Business or Information Technology related field with a masters’ degree as an added advantage.
• Certification or training in Product Management will be an added advantage.
• 5+ years of experience in business management/product development & management in the financial sector.
• Experience in regional Digital Transaction Banking products delivery with extensive knowledge in Business-to-Business integration, automated collection channels, Open Banking API solutions, Mobile & Online card payments industry and technology.
• Deep understanding of all processes and methods in agile product development and management.
• Excellent knowledge of emerging technologies and trends for digital financial products and services.
• Sound understanding of digital product marketing principles and strategies, ideally backed with suitable experience.
• Knowledge and effective application of all relevant banking strategies, policies, processes, procedures, guidelines, and project management methodology and to consistently achieve required compliance standards or benchmarks.
• Deep knowledge and understanding of key regulatory guidelines on digital financial products and services.
• Sound knowledge of business and technology.