Opportunity Details

Posted: 17/09/2019

Product Manager – Savings

Location
United Kingdom, London Devonshire Square
Schedule Type
Full Time
Reference
SHAW00971
Job Family
Corporate Functions
The Role

Shawbrook are looking to recruit a Product Manager to join our team based in our London Devonshire Square office. The Product Manager is responsible for owning product performance and pricing as well as developing the savings proposition and partnerships. The Product Manager also plays a key supporting role in developing the strategic direction of the savings business.

Responsibilities

Strategy / Planning / Organisation
• Work with the head of product in the development of the strategic roadmap for Shawbrook as a savings provider including product development and brand development
• Creation of product development plans (short and medium term) that meet the wider funding requirements of Shawbrook bank – volumes/balances/product mix/pricing/ acquisition/ retention
• Responsibility for setting acquisition and retention forecasts to manage products/balances to agreed financial metrics; Margin over market swap rates, overall cost of funds (interest cost), liquidity cost targets and retention targets
• Work closely with the data & insights team to develop and refine MI reporting that supports a Savings business with a £5bn+ in balances: Create a roadmap for insight development to enhance understanding of customer, product and pricing levers. Build out granular level insight on back book customer and the sensitivities of customers relative to both market and Shawbrook pricing. Ensures insight into pricing and re-pricing activity to deliver commercial plans for COF and customer acquisition and retention.

Customer (internal & external)
• Work closely with both the operations and innovation & delivery team to understand key customer journey pain points and own the creation of a solution through to deliver to constantly improve the end customer experience and outcome.
• Build insight into customer base and deeper segmentation to identify opportunities for deepening relationships, improving customer choice, meeting customer needs and building a strong and sustainable savings franchise
Regulatory
• Report all issues of regulatory concern to the relevant divisions across 1st and 2nd line Risk, Compliance and Legal
Risk Management / Controls and Compliance
• Communicate and escalate potential issues/risks in a prompt and effective manner
• To pro-actively manage product compliance:
• Ensuring accuracy of rates/product information/ summary boxes/ website content
• Inputting into development of customer communication and regulatory documentation

Financial
• Overall responsibility for pricing:
• Front book pricing – efficiently price flow versus cost, taking consideration for the impact of smoothing inflows against additional cost to carry
• Back book – ensuring the existing book is priced effectively in relation to the market and other Shawbrook products
• Retention – manage retention to planned targets to agreed commercial objectives
• Test and learn product terms and rates through different channels to assess impact on flow and cost of funds

Leadership / People / Teamwork
• Lead and develop 2 assistant product managers, ensuring they are grow and develop in line with their aspirations whilst successfully delivering for the team

The Person

Suitable candidates will have the following experience:
Education / Qualifications
• At least 3-5 years’ experience in product management
• Professional qualifications preferred (e.g. CIM)

Experience
• Product management experience
• Experience of managing a UK savings book
• Pricing and margin management experience
• Proven track record of delivering change
• Desirable to have experience in an agile working environment

Technical / Specialist Knowledge & Skills
• Strong excel skills
• Very capable in producing well rounded and compelling product proposals, product reviews and business cases
• Strong grasp of UK Regulatory environment

Personal Skills
• Customer focused approach
• Excellent verbal and written communication skills.
• Strong relationship management skills
• Ability to work as part of a team.
• Excellent planning and organisational skills
• Enthusiastic “can do” attitude
• Able to work under pressure and to tight deadlines
• Accuracy and attention to detail
• Establishes effective working relationships at all levels

Banding

This role is an SB3 within Shawbrook’s internal banding structure