SME Product Specialist

Job Title: SME Product Specialist

Department: Product Development

Report to: Head of Product Development

Location: BDB Head Quarter

KEY RESPONSIBILITIES

  • Product Development

    • Owns the product vision, collects business requirements, and translates them into a value-oriented product roadmap as part of BDB objectives, customer needs and market trends.
    • Develops and executes the detailed business plan for SME products, including target segments, detailed product design and structuring, product pricing, delivery channels, sales strategy, and operational and customer service processes.
    • Provides inputs on the commercialization of new products and solutions, by recommending pricing, providing sales tools (pitch book and brochures) and training the sales growth team to ensure knowledge transfer resulting in successful sales.
    • Conducts research and analysis required for product design and positioning.
    • Leads the new product approval process by getting approvals from relevant stakeholders.
    • Partners with Legal & Compliance teams to ensure that products efficiently meet all regulatory requirements.
    • Collaborates with Marketing and Communications team as well as front office teams to develop both client-facing and sales force-facing educational and promotional product literature to support sales activities.
    • Develops and presents product training for internal business partners and the sales force to ensure efficient product-roll out.
    • Develops policies and procedures related to the assigned products to ensure adherence to guidelines and mitigate risk.
  • Product roll-out

    • Works with internal and external stakeholders to develop the business case showing product propositions are viable and profitable.
    • Develops the product plan and ensures regulatory compliance, and communication throughout launch and that all documentation and filings are complete and proper.
    • Ensures that appropriate documentation of operational processes, training and testing and completed prior to go live.
    • Manages the product milestones within budget, scope, and timeline, moderating or escalating where needed.
  • Product Management

    • Owns and monitors products balance sheet and P&L to constantly seek to rationalise, enhance and grow the product offerings to achieve balance sheet and P&L objectives.
    • Enhances current products and services based on new industry trends or opportunities as well as identifying gaps in current products based on the feedback provided by front office teams and to continuously improve customer satisfaction.
    • Prepares business requirements for product enhancement and works collaboratively with IT for implementation.
    • Acts as a product promoter internally and externally, working closely with Marketing & Communication team, to prepare the product marketing plan including sales & marketing material.
    • Monitors product performance post roll-out and resolve any product issues or sales issues in order to ensure continuous product improvement.
    • Serves as product expert and respond to requests and questions from internal business partners and the sales force.
  • Product Policy review. Process Engineering & Vendor Due Diligence

    • Responsible for business process and functionality via each channel to ensure cost effective, superior customer and staff experience.
    • Reviews standard operating procedures and suggests amendments required, if any.
    • Initiates change and/or ensure distribution channels and other product interacting employee are ready to steer through evolving regulatory changes in the region.
    • Carries out thorough evaluation for new providers and recommend its outcome for further management discussion.
    • Conducts annual due diligence process on existing providers as well in accordance with business needs and approved product programme.
  • Customer Centricity

    • Consults with internal and external parties about joint developments.
    • Negotiates with internal as well as external suppliers to ensure seamless and superior client experience.

QUALIFICATIONS, EXPERIENCE AND SKILLS

  • Qualification Required:

    • Bachelor’s degree (Masters preferred).
    • PMP, CIM, certifications on product management, service design etc. are a plus.
  • Years of experience::

    • Minimum 5 years’ experience in SME Product management.
    • Experience in liabilities and financing products having overseen multiple end to end product launches.
    • Established experience being responsible for managing products (growing balance sheet and profitability).
    • Experience launching or managing digital channels.
    • Experience with Bancassurance and payment solutions is a plus.
  • Job Specific Skills:

    • Strong understanding of product lifecycle, from conceptualization to deployment and management in an SME / commercial banking context.
    • Experience in rolling out large and complex programs.
    • Understanding of basic concepts of technology and technology architecture.
  • Generic Skills:

    • Fluency in English and Arabic.
    • Proficiency with Microsoft Office programs.
    • Project Management.
    • Business Process documentation (Skills with Visio or similar a plus).
    • Skills with Power BI a plus.

Last Updated: 03 Jul 2022

Licensed by the Central Bank of Bahrain as a Conventional Retail Bank

Last Updated: 24 Jul 2022

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