Product Officer at I&M Bank Ltd

REF: PO/4/2017- PRODUCT OFFICER:

Job Summary:

The job holder will join a team responsible for translating new ideas and opportunities into new products and improving existing products. This role involves market research, development of product papers, implementation of approved products, coordinating user tests and working with the marketing team to launch products and services. In addition, it entails project management, product maintenance, and product performance monitoring and vendor coordination. The purpose of the role will be to create products that are suitable to evolving customer needs and ultimately ensuring return on investment i.e. profitability.

Note: The Bank has a strong focus on developing technology driven alternate banking products in the Omni Channel space and exposure to developing such products and an ability to understand and work with Alternate Banking technology would be a distinct preference.

Key Responsibilities:

The Incumbent will report to the Product Manager and will be responsible assisting in:

• Conceptualizing and crystalizing new product ideas into concrete business cases and proposals. The approved business’ cases should culminate into new products;
• Planning and implementing all elements of new products/up-grading and rolling them out in conjunction with Manager Marketing;
• Coordinating with various support services, as required, for product features implementation and user acceptance testing;
• Customer, competitor and market monitoring to identify new/upgraded product needs and opportunities(environment scanning and comparison);
• Negotiating with and closing deals with third party vendors, service providers and other external dependencies as required for the product;
• MIS generation and analysis by preparing manuals and procedures, preparing product approval papers and arranging sign-offs; and
• Product maintenance for certain products which involves trouble shooting for technical hitches and breakdowns including coordination with external vendors as necessary.

Minimum Requirements:

• At least 3 years relevant experience in Product Development function in a Commercial Bank is an absolute requirement
• Exposure to alternate channel technology applications.
• Bachelor’s degree in Business Information Systems, Strategic Management, Marketing or its equivalent from a recognized institution.
• Master’s degree in Marketing, Strategic Management or its equivalent from a recognized institution will be an added advantage
• Chartered Institute of Marketing diploma or its equivalent and member of Chartered Institute of Marketing (CIM) or equivalent professional body will be an added advantage
• Ability to write complex letters, comprehensive reports and to perform complex calculations.
• Should demonstrate knowledge of banking applications