Liability Products Officer
HFC Limited, the banking and property finance subsidiary of HF Group, has an exciting opportunity in our Retail Department. We are seeking a talented, dynamic, self-driven, and results-oriented individual who is committed to performance, excellence, and participating in our growth strategy.
The Products Officer for Bank Liability Products is responsible for managing and developing a portfolio of liability products within the bank, including current accounts, savings accounts, fixed deposits, and other deposit-related products. This role involves ensuring the competitiveness of the bank’s offerings, enhancing customer experience, and contributing to the overall growth and profitability of the bank through effective product management.
Deadline: 2025-02-17
Category: Retail
Subsidiary: HFC
Principle Accountabilities
Financial
- Manage and grow the non-funded income line and minimize revenue leakage from lending solutions.
- Digitize processes to minimize costs
- Maximize net interest income from the portfolio.
Strategic Product Planning and Management
a. Product Development & Management:
- Develop and manage a suite of liability products, ensuring they meet the needs of the bank’s target customer segments.
- Conduct regular market research to identify emerging trends, customer preferences, and competitor offerings to inform product enhancements and new product development.
- Work closely with other departments (e.g., marketing, operations, compliance) to design and implement new products, ensuring timely rollouts.
- Monitor product performance, track KPIs, and recommend product adjustments to optimize revenue, customer acquisition, and retention.
b. Product Strategy & Planning:
- Develop short- and long-term strategies for bank liability products, aligned with the bank’s business goals.
- Conduct financial analysis and forecasting to assess the impact of existing and new products on the bank’s profitability.
- Work with senior leadership to define product pricing strategies, fee structures, and promotional campaigns.
c. Customer Experience & Relationship Management:
- Collaborate with customer service teams to ensure that customers have a positive experience with the bank’s liability products.
- Handle escalated customer queries related to liability products, ensuring high customer satisfaction levels.
- Analyze customer feedback and industry trends to continually improve the design and features of liability products.
d. Internal business processes
- Conduct quarterly Branch and channel visits to ensure “best practice” is consistently delivered.
- Develop robust customer-centric processes that improve the turnaround time of service delivery
- Drive the system towards service quality standards in an efficient operation where risks are well controlled.
- Ensure that all liability products comply with relevant banking regulations and laws.
- Stay up to date with regulatory changes and incorporate necessary adjustments to product offerings.
- Work closely with risk and compliance teams to identify and mitigate risks associated with liability products
e. Customer Acquisition
- Collaborate with the sales and branch network teams to promote liability products and provide training on product features, benefits, and processes.
- Monitor the success of sales campaigns and initiatives for liability products, providing feedback and adjusting strategies as necessary.
- Help identify cross-selling and upselling opportunities to increase customer engagement and product adoption.
- Establish feedback Deposit products.
- Review and manage customer portfolio for growth
Key Competencies and Skills
Technical Competencies
- Problem analysis and solving
- Organizational and planning skills
- Judgment and decision-making skills
- Attention to detail
- Negotiating skills
- Creativity
- Writing skills
Behavioural Competencies
- Communication skills
- Goal-driven and results-oriented
- Customer orientation
- Presentation skills
- Interpersonal skills
- Proactive initiator
Minimum Qualifications, Knowledge and Experience
Academic:
- Bachelor’s Degree
Professional:
- Training in various Banking operations
- Training in Various product development and management
Desired work experience:
- 3 years of experience with at least 2 years’ in product development in a financial service environment.
- Metrics-driven: Strong analytical and synthesis skills, including the ability to absorb and process large amounts of data into actionable information.
- Knowledge of marketing principles and practices
- Knowledge of business and management principles and practices
- Project management skills
- Proficient in relevant software applications
