The Role Job Purpose: The product lead would be responsible for the end to end digital transformation of the Remittances and FX products supporting the entire customer life-cycle from acquisitions to engagement to retention in the process building a sizeable portfolio which is profitable and sustainable in the long run. Principal Accountabilities: 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 acquisition, funding 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. – 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 Process Reengineering: Responsible for business process and functionality via 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 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 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 1-2 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 group’s 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. Requirements Education and Experience: Degree or equivalent experience: Minimum MBA (preferably in Marketing, Strategy and Finance) Years of experience: 7-8 years in Banking/Fintech, Sales and Services and Product Development 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. About the company In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen. By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder. Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.