Loan Product Manager

A Product Manager is usually responsible for the end-to-end management of a banking product, such as a loan. This would entail managing the bank's loan offering, ensuring its profitability, competitiveness, and customer satisfaction as well as overseeing all aspects of the product lifecycle, from initial ideation and development to pricing strategies, P&L management, and ongoing optimisation.

Typical Responsibilities:

1. Product Strategy and Vision:

• Develop a comprehensive product strategy and roadmap for the loan product, aligning it with overall business objectives and market trends.
• Define and articulate the product vision, ensuring it aligns with the needs of target customers and positions the company competitively in the market

2. Market and Competitive Analysis:

• Conduct market research and analysis to identify customer needs, market trends, and competitive landscape.
• Utilise data and insights to drive product decisions, identify market opportunities, and develop effective pricing strategies.

3. Product Development and Management

• Collaborate with cross-functional teams (engineering, design, marketing, etc.) to define product requirements, prioritize features, and drive product development.
• Ensure the timely and successful launch of new loan products and features, coordinating with various stakeholders throughout the process.
• Continuously monitor and evaluate product performance, identifying areas for improvement and optimization.

4. Pricing and Profitability:

• Develop and implement pricing strategies for the loan product, considering market dynamics, customer value, and profitability targets.
• Conduct pricing analysis, competitive benchmarking, and financial modeling to optimize pricing structures and maximize revenue and profitability.
• Monitor and analyze pricing performance, making data-driven recommendations for adjustments as needed.

5. P&L Management:

• Take ownership of the loan product's P&L, closely monitoring financial performance and managing cost structures to achieve revenue and profitability targets.
• Collaborate with finance and accounting teams to track and report on product financials, including revenue, costs, margins, and key performance indicators.
• Provide regular updates and insights on P&L performance to senior management and stakeholders.

6. Stakeholder Management:

• Collaborate closely with internal stakeholders, including executive management, sales, marketing, and operations teams, to ensure alignment and support for the loan product.
• Gather feedback from customers, sales teams, and other stakeholders to inform product enhancements and optimize customer experience.
  
  

Typical requirements:

• Bachelor’s degree in business, finance, or related field
• Proven experience as a Relationship Manager in corporate banking
• Strong knowledge of corporate banking products and services
• Excellent negotiation and pitch skills
• Ability to work independently and as part of a team
• Strong attention to detail and accuracy
• Good organisational and time-management skills
• Ability to manage multiple tasks simultaneously