Product Development Manager at Bank of Kigali (BK)(Deadline: 01st November, 2022)

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Product Development Manager at Bank of Kigali (BK) (Deadline: 01st November, 2022)

Division:

Commercial

Business Unit:

Marketing

Reporting line

Head of Marketing

Purpose of the job

The purpose of the job is to identify new opportunities for developing new marketable products and oversee the products’ development process end-to-end from research, ideas generation to commercial launch. Responsibilities also include improving existing products to meet customers’ needs and working effectively with internal stakeholders throughout the product development process to translate business needs into a viable product strategy that ensures the bank’s competitive edge.

Essential Responsibilities

  1. Product Development
    • Developing the Bank’s strategy and road map for products’ development and/or enhancements in collaboration with Sales, Marketing, Operations, Legal, Finance, Compliance, Digital Factory and the Executive management.
    • Establish a clear product and engineering roadmaps, product development process, ensure it is always updated and strictly adhered to and quality and date targets are meet.
    • Creating an adequate environment across the Bank for innovation and ideas generation.
    • Responsible for end-to-end products development and implementation process.
    • Set up and manage products development projects & assigned multi-disciplines resources/ team.
    • Developing product concepts, business cases, feasibility reports and securing required approvals;
    • Preparing cost analysis on the development of a new product.
    • Coordinating user testing with internal stakeholders / Departments – as and when required, guarantee that all use cases and edge situations are addressed, write and run extensive test cases.
    • While heading the product function, oversee and coach a team of product analysts.
  2. Product management
    • Collaborate throughout the organization to create a shared product vision by establishing priorities that lead to great product performance and coordinate with the Marketing Department Go-To-Market & launch and communication plans.
    • Create a strong roadmap with a wide range of technological capabilities that will offer excellent user experiences and increase ROI for Bank of Kigali Plc.
    • Continuously identify opportunities for products’ development, enhancements or alignment to evolving customers’ requirements &/or needs in line with the Bank’s overall strategy and objectives.
    • Ensuring sales objectives and budgets are supported by adequately designed and priced products & services by interacting constantly with the sales teams for better understanding of their objectives, challenges and strategies.
    • Reviewing existing products and make enhancements in order to meet customers’ needs.
    • High-level monitoring and management of products already in development, reporting regularly on products performance and managing the product lifecycle including the end of life process as and when required.
    • Monitoring and providing regular feedbacks to all internal stakeholders on the competition products landscape, plans, pricing and market’s feedbacks.
    • Define product metrics to keep track of and gain value and insights, performing regular products benchmarking against competition offerings and market trends.
    • Conducting training sessions to communicate product features, benefits, and performance through formal presentations and written communications.
    • Ensuring all products and services of the Bank have all required & approved documentation and that these are reviewed annually.
  3. Research
    • Conducting analysis of business opportunities and competition landscape to understand market gaps, identify emerging segments and business trends.
    • Utilize the company’s huge data to gain a deeper understanding of customer behavior and make significant product enhancements.
    • Identifying opportunities for new product innovations and product differentiation to support the bank’s growth.
    • Researching and documenting product requirements to ensure that products meet business needs, performance objectives, and deliver an exceptional customer experience. Focus on a specific product, its customer, and how that specific product can be improved or developed.
    • Carry out market research, liaise directly with customers, closely monitor industry trends, and manage the technical development of the product.
    • Researching, validating, and coordinating the development of new products through real-world market research to ensure product/market fit.
    • Ensure no legal and regulatory infringement by researching patents, copyrights and trademarks.

Experience

  • Minimum of five (5) years’ experience in Product Development with 2 years in a managerial position;
  • Prior experience and knowledge in Financial Market or Banking is preferable;
  • In-depth understanding about product’s features, pricing, benefits, positioning, design, promotion and risk preventing;
  • Experience in identifying market trends and market research;
  • Must have innovative mindset that challenges status quo for benefit of the bank;
  • Ability to take full ownership of issues until they are completely resolved;
  • Knowledge of the Rwandan market’s consumers buying behavior and evolving trends;
  • Good understanding of the Rwandan legislation framework and environment;
  • Practical / proven experience in conceptualizing ideas, drafting products concept papers, developing business cases and implementing products or similar initiatives

Qualifications

  • Bachelor’s Degree in a business related field. An advanced degree and/or a project management qualification would be an advantage.
Knowledge
  • Market research and analysis
  • Project Management
  • Sales and Marketing
  • Stakeholder management
  • Current trends in the financial industry
  • Communication and interpersonal skills
  • Planning and organization
  • Budgeting
  • Reporting
Expression of Interest

Submit your CV to recruitment@bk.rw by 01st November 2022.

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