Cash Product Manager at Standard Chartered Bank

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, facilitating simple, faster, better, 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 TB 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 Product Head for Cash.
• 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.

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 & 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 & Implementation:

• 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 & Business Conduct:

• Displays exemplary conduct and lives by the Group's Values and Code of Conduct.
• Takes 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.
• Achieves the outcomes set out in the Bank's Conduct Principles.
• Effectively and collaboratively identifies, escalates, mitigates and resolves risk, conduct and compliance issues.

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:

• Internal Product Training is desirable.
• Knowledge of Product and systems

Role Specific Competencies:

• Business analytics
• Business acumen
• Product development strategy
• Product development lifecycle
• Product innovation and digital transformation
• Business process design and improvement
• Marketing strategy and positioning
• User experience design
• Quality management
• Cash Operations / Trade Operations / Securities Services Operations