Cash Product Manager Standard Chartered Bank

Job
: Transaction Banking

Primary Location
: Africa & Middle East-Zambia-Lusaka

Schedule
: Full-time

Employee Status
: Permanent

Posting Date
: 21/Nov/2023, 12:13:28 AM

Unposting Date
: 05/Dec/2023, 1:59:00 AM

The Role Responsibilities

The Cash Product Manager will have an instrumental role in ensuring that Cash activities are grounded in the Bank’s strategic priorities through delivering customer value, driving productivity, optimizing cost efficiencies and living the valued behaviours. This role requires individuals who can drive effective execution aligned to the Transaction Banking agenda and priorities.
Manage and deliver the Transaction Banking end-to-end product objectives within the country for Cash in alignment with global objectives for the product line, including financial and non-financial performance, enhancement of capabilities, product and client access future strategies, and oversight of risk and governance in alignment with the Country Cash Product Head.
Product Management is accountable for development of product strategy, its execution and commercialization, aligned to clear, simple and robust product universe governance and product risk lifecycle management.
Client Insight and market analysis: understand client needs and challenges to determine current and future opportunities.
Product visions and strategy: define target market, articulate market share, revenue pool and product life cycle.
Commercialisation of current and new products: develop customer-centric, go-to-market strategies and initiatives. Leverage other internal stakeholders for delivery.
Manage Product as a business: optimize product value through revenue and cost levers.
Innovation: drive agile product innovation, identify client co-creation opportunities
Build the brand: position product and develop compelling market proposition
Strategy

Analysis of client needs, both met and unmet, integrating these insights with current and near future market, industry and network intelligence.
Within the market, drives the Global Product Vision and Strategy and articulates the business value of the product suite for our clients and for our stakeholders. The Product Vision and Strategy will:
Provide an end to end product lifecycle architecture that maps out the technology and data ecosystem that will be designed along with the process and governance required;
Set out the managed process for decommissioning of products;
Include a robustly defined operating plan outlining product release timelines and implementation with coordination of all the activities required to bring the product to the client/market. This will involve collaboration between various teams – namely, risk, legal, compliance, technology as well as managing the dependencies across the various phases of the product development.
Business

Financial Management – Product P/L Management
Delivers new revenue streams with meaningful returns over the long term, through product enhancement and innovation, whilst uplifting current revenue streams through process efficiencies and digitization.
Manages both cost and investment of product build, from reduction of unit cost of product to optimization of launch/go-to-market cost for products.
Co-ordinate with Operations, Technology and other function partners with the aim of translating process optimization to bottom line cost control with a high degree of reliability.
Deliver budget, through active management of:
Revenue (existing and new revenue streams
Penetration of the product: No. of clients using the products
Drive liabilities / OPAC gathering with view to increase contribution
Cost (operating cost for product)
Review and manage cost and efficiency of both allocated and direct cost
Returns (i.e. product profitability) [ROE]
Market Management & Commercialization

Identifies new business opportunities and revenue pools whilst articulating how the product capabilities can solve for client needs and requirements
Develops a product commercialization plan which integrates product positioning with client value propositions all adapted to the industries and markets of our clients.
Works closely with Cash Head to develop the Product Landscape: based on data and business intelligence from various sources including sales, clients and competitive market analysis.
Works closely with Cash Head to ensure product readiness and fit for purpose at the country/market level prior to product launch.
Actively mitigates identified business pain points, by evaluating pragmatic solutions that have wide applicability.
Conduct regular reviews of the product offerings to ensure a “fit for purpose” operating plan and product agenda.
Supports launch of product enhancements, new products, channels or new platforms.
Held directly accountable for commercialization of product capabilities including developing product launch, commercialization plans, targets and ensuring infrastructure requirements are resourced.
Delivers product brand and capabilities training workshops with client facing teams (TB Sales, GB RMs, CB RMs) to articulate the product positioning and client value proposition.
Customize relevant commercialization tool kits, product packs and related collateral to support and provide training for TB Sales, CCIB and GTO staff.
Provides business solutions for complex deals or RFPs to drive sales and solutions.
Meets and engages clients to understand their needs or to commercialize new capabilities.
Ensures replication of deals / unique solutions across industries.
Product Digital Journey and Efficiency

Delivers the product digitization agenda (product, process and platforms) with Transaction Banking Digital and Data team in conjunction with cluster/regional stakeholders.
Builds product value propositions with digital partners (3rd party platforms, consortiums and alliances).
Collaborates with the Data and Digital team, managing platform relationships with a focus on shaping future product roadmaps and commercial opportunities.
Owns commercialization of digital solutions and capabilities in country and across key markets.
Works closely with Digital and Data team to design and deliver training materials on our platforms as well as other digital capabilities for clients.
Processes

Working with and through Implementation Head to ensure successful and smooth implementation of product solutions, conducting post implementation review analysis through client feedback and incorporates good practices in subsequent implementations.
Defines client service requirements, including the client proposition for new products and their capabilities for Operations and the PSS team.
Tracks clients’ product utilization with a view to achieve utilization targets
Drives and sustains a productive working rhythm to Client Management team process reviews on client issue logs and wider feedback themes, such that specific product adjustments and enhancements can be prioritised in the rolling schedule of product design and implementation.
Providing input and working with Implementation Manager to build and re-engineer processes with focus on efficiency, simplification and clarity in order to improve client experience and mitigation of operational risk.
Risk Management

Builds deep and comprehensive knowledge of local regulations and initiatives of local industry bodies to stay ahead of the regulatory change agenda and how it affects the product lifecycle.
Takes the initiative regarding regulatory, reputational and ethical matters by providing proactive advice to sales and implementation teams.
Ensures adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations.
Ensure appropriate TB inputs are incorporated in BCA / Term sheet / Pre-Screening review / Credit.
Working with Cash Head and Country TB Heads to effectively identify, escalate, mitigate and resolve risk and compliance matters in a timely manner.
Identify and mitigate the Operational, Credit, Regulatory and Business conduct risks relating to Cash.
Work with operations to improve overall service standards and to ensure that quality of service to customers remains superior to competition
Ensure timely renewal of country addendums (CAs) and proactively work with stakeholders to identify and quantify new and existing risks.
Governance

Accountable for all product risks within the product management discipline in your market(s)
Maintains timely renewal of Country Addendums.
Identifies and mitigates operational, credit, regulatory, legal, fraud and risks in their product suite.
Evaluates current processes via a business Conduct lens.
Defines pricing guidelines and processes for the product.
Understands compliance, AML and FCC risk and applies appropriate risk mitigation processes.
Regulatory and Business Conduct

Display exemplary conduct and live by the Group’s Values and Code of Conduct.
Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key stakeholders

Internal

Country Head of Banking
Local Managers, Operations, CSG, Compliance
Local Business Heads (Financial Markets, ALM, etc)
Regional and Local Heads of Product, Channels, Marketing, Corporate Affairs, OL, HR, Finance
External

Customers
Auditors, Regulators
Payments Industry
Our Ideal Candidate

Minimum 5 O’level Credits or better including Mathematics and English
Bachelors Degree Professional Accounting qualification is an advantage.
5 years relevant experience
Demonstrated experience in Product Management.
Expertise in Cash Management and Trade & Working Capital products.
Solid understanding of financial markets infrastructure, regulatory landscape and significant emerging developments.
Proven ability in commercialising products, including presentation and RFP submissions.
Strong competence in interpersonal skills with ability to influence and manage stakeholders.
Role Specific Competencies

Manage Conduct
Manage Risk
Business Analytics & Acumen
Product development strategy & lifecycle
Product innovation and digital transformation
Marketing strategy & positioning
Cash Operations

About Standard Chartered

We’re an international bank, nimble enough to act, big enough for impact. For more than 160 years, we’ve worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you’re looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can’t wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you’ll see how we value difference and advocate inclusion. Together we:

Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
Time-off including annual, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum
Flexible working options based around home and office locations, with flexible working patterns
Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies – everyone feels respected and can realise their full potential.
Recruitment assessments – some of our roles use assessments to help us understand how suitable you are for the role you’ve applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.