Product Development Manager Job Vacancy at NBC

NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.

Job Summary

Stay ahead of industry trends to pinpoint novel product opportunities, strategically enhancing a product’s features and efficacy throughout every phase of the Product Lifecycle. Guarantee that products or services align with the demands of designated target customers by implementing a range of tasks and initiatives but also return on investment is achieved from products portfolio.

Job Description

Products Life cycle Management

• Conduct Business analysis and develop Business requirement for new product and enhancement of existing products, taking consideration of customer needs and business objectives.
• Develop Business case for new products and enhancement of existing product to ensure all investment yields returns.
• Lead end-to-end development projects for new products, ensuring adherence to the product development lifecycle.
• Drive new product project targets for quality, shorter development time, effective product cost, and optimal pricing.
• Collaborate with various business areas to develop pricing models and conduct joint pricing reviews and audit existing product prices captured on systems to ensure accuracy limiting revenue leakage.
• Align NBC with Group propositions and contribute to strategic decision on product innovation.
• Enable successful integration of new products and migration to enhanced products through thorough project planning, customer communication, and sales team enablement.
• Collaborate with Legal and Compliance Officer to ensure product compliance with legal and regulatory requirements.
• Manage and prioritize a portfolio of existing and new solutions through the product development pipeline.
• Develop expertise in product financials, product customer Value Management, product operations, product risk, product compliance, and other business disciplines.
• Conduct new product training and assist in external and internal communication planning.
• Seek approval from the Bank of Tanzania for new products deviating from Banking Business Act. Identify product gaps through proactive communication with Group counterparts.
• Ensure product offerings are profitable and sustainable by measuring performance against key business criteria.

Product Risk Management and Change Management

• Ensure that the New and Amended Product Approval process is followed when developing or enhancing products.
• Ensure that the Product review process is followed with regards to any existing product review.
• Develop, review and ensure that the processes and documentation related to the products are in place including product manuals, product training resources and marketing materials.
• In collaboration with Information Technology, conduct regular infrastructure viability, analyze, and determine systems capability requirements to ensure optimal performance of products and address all IT risks related.
• Provide support to all product risk reviews and audit cycles, responding to supporting documents requests and clarification on timely manner.
• Ensure all regulatory requirements, NBC policies and procedure are adhered to during product design.
• Report all risks related to products to Corporate and Investment Banking Risk champion.
• Ensure all Commercial Product risks and controls related to products in the Corporate Investment Banking Risk Control Assessment (RCA) are effective and issues are closed on time.
• Coordinate, manage and represent Business Development interests on the Change/NPA Forums
• Follow through change management process for all product innovation and enhancements by efficiently executing business related activities.

Formal Learning Required.

Degree in Banking, Information Technology and Project managements are added advantage.

Combined Banking and Information technology/systems increase chance of being successful to the role.

Experience

at least 4 years’ experience in Banking and a minimum of 2 years within product development space or any innovation related role.

• Demonstrated skill on innovating and implementation of new products
• Proven track record of driving product portfolio innovations and changes

Knowledge And Skills Required.

• Wholesale Banking products knowledge
• Effective planning and project management
• Business requirement analysis
• Product lifecycle management
• Product risk management
• Presentation skills
• Analytical thinking skills
• Information systems understanding
• Effective communicator

NBC Bank is in an equal opportunity employer committed to creating an inclusive work environment and ensuring gender balance within our workforce. We strongly encourage applications from female candidates and individuals living with disabilities for this position. NBC Bank does not levy any charges related to the application and recruitment process.

Qualifications

Bachelor`s Degrees and Advanced Diplomas – Business, Commerce and Management Studies, Commercial mindset – Junior (Meets all of the requirements), Digital familiarity (Meets some of the requirements and would need further development), Experience in a similar environment at junior specialist level, Openness to change (Meets some of the requirements and would need further development), Personal mastery (Meets all of the requirements), Reasoning (Meets all of the requirements), Research (Meets some of the requirements and would need further development)