Loans Product Development Manager - Retail Banking
Muscat, oman
Role Statement
Loans Product Manager for Retail Banking at Ahlibank is be responsible for leading the development, management, and growth of the bank's retail lending products, including personal loans, auto loans, home financing, and other credit facilities. The role is pivotal in driving the success of Ahlibank's retail lending portfolio through in (risk management, Operations, Sales& Distribution, IT/PMO and digital transformation to ensure that lending products align with market needs, regulatory requirements, and the bank's strategic objectives. Optimizing the profitability and operational efficiency of the lending business while fostering customer loyalty and satisfaction.
Drive the product development, service model (physical and digital) and upselling of Retail Loan products, both secured and unsecured offerings.
Acting as Retail Loans Product Owner with responsibilities over:
Product definition – from both customer-needs’ perspective, and bank’s profitability perspective;
Sales and service model definition /process & system level/ – for both Branch and Digital Channels;
Defining, measuring and improving quality of service KPI – commercial (e.g. sales targets; leads conversion) and performance (e.g. time-to-yes; time-to-cash; rework)
Digital acquisition of loans, including upselling and cross selling
Maximizes profitability through a comprehensive product management process.
Key Responsibilities Product Development and Innovation
Launch and implement innovative loan products for retail customers in line with the Bank's strategy. These include consumer loans, home loans, auto loans and other lending propositions.
Manage and lead all aspects of product design, product programs, implementation and delivery processes, and recommend pricing strategies and modifications (including interest rates, fees and charges).
Conceptualize and implement digital selling of loans. This includes end-to-end product proposition, pricing strategy and processes.
Market Penetration and Growth
Conduct market scan/research to better position bank’s lending products.
Deep understanding of customer needs for lending products and entire customer journey – or overall customer experience (CX) – build that through research, focused client groups interviews, instant collection of client feedback, etc.
Increase the bank’s market share in all segments by continuously and consistently revamping the value propositions across all segments.
Conduct portfolio review to analyze performance of different segments and implement segmental proposition for enhanced profitability.
Operational Efficiency
Develop & improve end-to-end process for loans:
Process mining and identification of process improvements across all active lending products. Mapping AsIs processes and defining improved ToBe processes. By doing so, looks at customer needs/CX and the processes end-to-end and engage subject-matter experts from the respective units/domains from across the bank (not only Retail but also Operations, Risk, IT etc.)
Challenges the E2E process, subject to improvement, and defines business requirements and functional capabilities for the identified process improvements/automations with the aim to reach the objectives set.
Financial Performance
Revenue Growth: Achieve revenue targets by optimizing interest rates, fees, and cross-selling of related products (e.g., insurance)
Profitability Management: Balance competitive pricing with profitability, ensuring that lending products contribute positively to the bank’s bottom line.
Cost Control: Manage operational costs associated with the lending process, including processing, underwriting, and collections.
Responsible for PL management of loans and meeting the strategic targets and annual budgets.
Set objectives – which KPIs are expected to be met with the respective process improvement (e.g. quality of service KPI, human effort engaged, risk events, etc.).
Uses data/statistics to drive “mini-business-case” justification, i.e. priority for which process should be redesigned
Liaises closely and support where requested by PMO/BA & Digital/IT teams in discussions related to tech complexity, implementation approach, technology to be used.
Coordinates and contributes to the definition of test cases and organization of user acceptance testing for the implemented changes in the processes.
Contributes to the training’s sessions needed for Bank employees upon implementation of process automations.
Partner with various departments for strategic tie-ups with companies and prepare special customized propositions.
Provide trainings on new and existing products to all stakeholders to create awareness and smooth transaction flow.
Working with sales, marketing and support to achieve revenue and customer satisfaction goals.
Data-Driven Decision Making
Analytics and Insights: Utilize data analytics to monitor product performance, customer behavior, and market trends, using these insights to refine product offerings and strategies.
Performance Metrics: Establish and track key performance indicators (KPIs) such as loan growth, approval rates, delinquency rates, and customer satisfaction scores.
Customer Retention and Loyalty
Retention Strategies: Develop and implement strategies to retain existing borrowers, such as loyalty programs, refinancing options, and tailored customer engagement.
Customer Feedback: Establish mechanisms to gather and act on customer feedback, ensuring that their needs are consistently met or exceeded.
Manage the lifecycle of products: design, development, maintenance, enhancement and exit. Leads research, analysis, design, development and implementation of new products for one or more divisions, product lines, and market segments. Analyzes, modifies and enhances existing products to maximize profitability and meet customer needs.
Candidate Specifications
Omani National
University graduate, preferably in marketing or related disciplines
Minimum 5 years solid marketing experience in banking industry preferably in asset products
Attentive to details, able to work independently, handle and prioritize multiple tasks
Proactive and adapt to dynamic environment;
Good analytical, organizational and problem-solving skills with customer centricity mindset