Banking Product Manager

Arbuthnot Latham; Greater London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading financial services provider in Greater London seeks a product development specialist to enhance banking products for private and commercial clients. This role involves collaborating with product owners, monitoring product performance, and ensuring regulatory compliance. The ideal candidate has experience in Private Banking, strong communication skills, and a proven track record in product development. This position offers a competitive salary along with health benefits and discretionary bonuses.

Benefits

Competitive salary

Pension and holiday allowance

BUPA Health cover

Discretionary bonus

Market leading maternity/paternity policies

Qualifications

• Experience in a related role within the Private Banking / Wealth Management Sector.
• Demonstrable track record of delivering new products.
• Understanding of the regulatory environment such as Consumer Duty.

Responsibilities

• Support product owner in assessing product enhancement opportunities.
• Monitor product performance and keep stakeholders informed.
• Identify pain points in client journeys to improve processes.

Skills

Experience in Private Banking or Wealth Management

Strong collaboration and influencing skills

Excellent communication skills

Client focus

Ability to analyze data for actionable insights

Education

Business and Commercial Focus

Job description

• To support the development and refinement of the banking products for private and commercial clients to drive sustainable business growth – working closely with the product owners, Head of Client Proposition and Product, and in collaboration with the banking Proposition Manager.
• Where applicable, to place the interests of customers at the centre of all activities, act in a way that is consistent with achieving good outcomes for consumers; and to comply with the FCA and PRA's Conduct Rules.

Key Responsibilities

• In partnership with the product owner and key stakeholders support the identification and assessment of opportunities to enhance our products and the delivery of our products to clients.
• Demonstrate curiosity about the performance of the products including identifying outliers, friction or missed opportunities.
• Identify foreseeable client harm and design controls to manage it.
• Stay abreast of relevant changes in the market, including product changes made by direct competitors and the ways client expectations are evolving.
• Manage continuous improvements of product processes and procedures to drive efficiency.
• Design and deliver product initiatives working with relevant teams across the bank and third parties when needed.
• Project manage delivery of initiatives to time and budget, set milestones, identify resource requirements, and coordinate SMEs across the business.

Product Management

• Regular document reviews to ensure product information is accurate and supports client understanding.
• Perform post-launch reviews of all new products to check the objectives set out in the design are being met and client outcomes are being delivered.
• Monitor product performance and keep stakeholders aware.
• Identify opportunities to improve existing products and make recommendations to product owners e.g. new product features.
• Identify pain points in client journeys, operational engagement to deliver improvements.
• Decommission products which are no longer required or are not delivering appropriate client or business outcomes.

Product & Proposition Governance

• Complete annual product and service reviews of all banking and treasury products, identify and make recommendations for improvements.
• Assess whether products & propositions operate in line with the requirements of Consumer Duty and other relevant regulatory frameworks.
• Product technical support, keep abreast of changes & developments in the banking and treasury market.
• Ensure compliance with product policies and procedures and risk frameworks.

Risk

• Responsible for managing risks inherent to the role by diligently observing internal policies and procedures.

Key Interfaces

• Product owners for banking and treasury
• Senior stakeholders, Heads of Department
• Client Proposition and Product Team
• Compliance, Legal & Risk functions
• Marketing, Business Management, Operations and Change Teams
• Private and commercial banking front office teams and advisers

Person Specification

Knowledge / Experience / Skills:

• Experience in a related role within the Private Banking / Wealth Management Sector, e.g. product development, product proposition/strategy
• Demonstrable track record of delivering new products
• Understanding of the regulatory environment e.g. Consumer Duty
• Demonstrable track record of managing and coordinating project work
• In depth understanding of banking, lending and treasury products

Skills

• Strong at forming partnerships and collaboration with good influencing skills.
• Excellent communication skills, oral and written.
• Client focus.
• Ability to think creatively and commercially to find solutions and implement change.
• Ability to work with MI and data sets to generate actionable insights.
• Clear focus on understanding and controlling risk.

Qualifications

• Business and Commercial Focus
• Influencing others
• Judgment & Problem Solving
• Communication & Confidence

About Us

Life, Work and Benefits

Arbuthnot Latham is committed to equal-opportunities for all staff and candidates. We embrace inclusion & diversity and understand why they are critical for the success of our business and people.

• Competitive salary, pension & holiday allowance
• BUPA Health cover
• 4x Life Assurance
• Discretionary bonus
• Market leading maternity/paternity and menopause policies

Data Privacy and Reasonable Adjustments

We take keeping your data security seriously. For more detail on how we may keep your data please refer to our Privacy Notice

Reasonable Adjustments

Please let us know of any adjustments or arrangements that you may need to help you apply to this role or that will help you during the recruitment process. If you wish to discuss any particular requirements or concerns you have because of a disability or medical condition please contact us at [email protected]. Information you provide about any disability or medical condition will remain confidential unless it is necessary to disclose it to other members of staff or outside agencies to ensure the health and safety of yourself and others, or to implement the adjustments you require. In these circumstances we will first discuss with you how and to whom the information may be disclosed.