Key Accountabilities:
1. New Cards Products / Services delivery
• Research and introduce new technologies and services in line with the Retail Banking strategy that contributes in leveraging cards revenues or customer satisfaction.• Participate in vendors’ selection process in terms of financial and technical assessment.• Defining scope and deliverables according to budget and resources availability.• Preparation of new products/services budget approvals (MEPs) and ensure delivery within approved budget.• Monitoring performance post launching the services to ensure quality of delivered services.
2. Marketing Activities
• Responsible for marketing and communication activities/materials & positioning of products/ services internally and externally.
3. Market Scan and Competitors’ Analysis
• Conducts in-depth market research and competitive analysis to identify opportunities for product differentiation and innovation.•Run regular market scan and Monitor banks position within competitors.
4. Communication Material Development
• Enhance training material and empower front liners cards related knowledge.• Conduct needed business training sessions.
5. Procedures Enhancement and Preparation
• Identify processes gaps, find solutions or workarounds and propose to implementation team.• Create Service Level Agreements (SLAs) & SOPs with partners.• Create/monitor procedures preparation for any new products / services.
6. Stakeholder Collaboration
• Work closely with Marketing, Operations, Compliance, Shari’a and IT teams to ensure successful product launches / a seamless customer experience.• Engage with external partners, such as payment networks and vendors to enhance product features.
7. Innovation & Trends
• Drive innovation by exploring new technologies (e.g contactless payment, tokenization …)• Stay informed about industry trends and emerging payment solutions to keep the bank competitive.
8. Pricing Strategy
• Develop and implement pricing strategies that maximize profitability while remaining competitive.• Conduct Pricing analysis to determine optimal pricing models for various card products.
9. Performance Monitoring
• Monitor and analyze product performance metrics, such as transaction volume, customer engagement, and revenue, to identify areas for improvement.• Develop and manage budgets, forecasts and profitability analysis.• Gathers and analyzes customer feedback to drive continuous product improvements and enhancements.
10. Regulatory Compliance
• Ensure all card products comply with relevant regulations and industry standards.• Stay updated on regulatory changes that may impact card products.
11. Scheme Relationship Management
• Agreement management: Facilitate the signing of the agreements with the payment scheme• Performance monitoring: Track and assess performance metrics to ensure alignment with agreement targets.• Incentive/ Support Claims: Manage the process for claiming the incentive amounts, ensuring accuracy and timeliness.
12. Cards Profitability
• Propose new initiatives / products / services to leverage cards profitability by either generating revenues or minimizing cost.• Collaborates with the Core Cards Product Manager and Cobrand and Fintech Product Manager to define and prioritize product features and roadmaps.• Develops and oversees the implementation of product launch and go-to-market strategies.• Works closely with the Cards Program Manager to ensure the timely and successful delivery of product enhancements and new features.• Responsible for the development and management of the bank's core payment card products, including credit, debit, and prepaid cards.
Qualifications:
Bachelor's degree in business, finance, marketing, or a related field. MBA or relevant post-graduate degree is preferred. Minimum of 8-10 years of experience preferably in cards product management within the banking industry. Extensive knowledge of banking products, payment systems, and card networks. Proven track record of strategic thinking, product innovation, and driving business growth. Strong leadership and people management skills. Excellent analytical, problem-solving, and decision-making abilities. Exceptional communication, negotiation, and relationship-building skills. Ability to influence and collaborate with senior stakeholders and executives.