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Savings Product Manager

  • Location: Chatham
  • Salary: £50,000 per year
  • Job Type:Permanent

Posted 26 days ago

  • Sector: Customer Contact
  • Contact: Natasha Goldstone
  • Contact Email: ngoldstone@merje.com
  • Contact Phone: 0161 883 2740
  • Expiry Date: 30 May 2024
  • Job Ref: NG/11659

Savings Product Manager

My client is looking for a Savings Product Manager to contribute to the growth and continued profitability of the business by ensuring pricing is aligned to key business targets for the Group’s savings brands. As a proactive individual, you will have an in-depth understanding of the Group’s performance in the context of the wider savings sector, ensuring ongoing development, implementation and management of savings products and pricing activity across the various markets and product lines.

Responsibilities

  • Work with the other Savings Product Managers in the development, pricing and management of the portfolio of savings products offered by this company through its Savings brands, channels and platforms to attract and retain savings balances at appropriate margins to ensure the business meets its funding requirements.

  • Provide day to day advice to senior management across the business for all this company's brands and savings lines, with a detailed knowledge of the savings market and the competitors.

  • Play a key role in the launch of new product pricing, from design inception to delivery and sign off, ensuring other teams are aware of their roles as part of delivery.

  • Ensure all products deliver good customer outcomes and that we meet our requirements under Consumer Duty.

  • Work as part of project groups, being the expert and leading from a product, pricing and savings market perspective.

  • Collaborate with our Savings modelling and analytics team so that the information used across the business is the most appropriate and identifies key areas of performance, and supports tactical and strategic decision making for pricing across the brands, products and customer segments.

  • Provide guidance, training and ongoing support to Assistant Product Managers in the team.

  • Production and maintenance of analysis and commentary on competitor movements, market analysis, and product performance, flagging material trends, scenario analysis and changes to the wider Savings Team.

  • Proactively and regularly review market positioning (rate, criteria, etc.) using accessible market intelligence and research to provide recommendations to the senior manager, and summaries to the wider team and stakeholders to support business decisions and the early identification of problems, working to resolve or mitigate issues.

  • Develop and proactively recommend strategic and tactical pricing proposals for acquisition, retention and back book products for consideration by attendees at the Savings Pricing Group, identifying risks and opportunities around both margins, volumes, customers and risk metrics, having an understanding of the wider impacts of such decisions, ensuring all governance, risk metrics, policies and procedures are adhered to at all times.

  • Ensure understanding and focus on target markets and key segments for each product and brand, lead regular product performance reviews to ensure that brands and products continue to appeal to their target markets, making any recommendations for adjustments to ensure they remain relevant.

  • Ensure all new products and product changes and amendments are deployed accurately

Skills & Experience Requirements;

  • 3 years previous experience in a savings product or pricing role, including larger savings books with multiple brands, product and customer types cases is essential.

  • 3 years previous experience of cross departmental working to deliver product launches in a fast-paced environment is essential.

  • 3 years previous experience of product data analysis/market competitor analysis/report production to support business cases is essential.

  • 2 years previous experience with product pricing launches from inception to sign off is essential.

  • A working knowledge of the UK Savings market and customer needs.

  • Robust understanding of the Savings industries is essential.

  • A good understanding of the regulatory environment surrounding financial services is desirable.

  • Knowledge of Product management, pricing and analysis methods is essential.

Please note, should feedback not be received within 28 days due to the large volume of applications, unfortunately, your application has been unsuccessful. However, we may be in touch with similar relevant opportunities.

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