Specialist: Product Manager at BMW Financial Services

The incumbent will be responsible for Product Lifecycle Management; monitor and assess market trends and as a result, research, initiate and launch new products. Manage and optimize current product portfolio.

KEY ACCOUNTABILITIES OF THE FUCTION:

• Develop product strategy for the ZA market (Retail Finance, Multi-make, Insurance and Commercial Finance) in line with Group requirements.
• Develop products and campaigns to drive vehicle / bike / insurance sales.
• Drive and work closely with National sales company to negotiate campaigns and quarterly offers.
• Contribute to towards strategic direction related to new processes and business strategy within Financial Services.
• Driving decisions and measures to prioritize activities related to product and pricing.
• Lead and co-ordinate approval of resources required for negotiation with National Sales Company and Insurance suppliers. 
• Influence and obtain buy in of the new product by product pricing local committee in Financial Services and National Sales Company.
• Product development based on benchmarking, competitor analysis and customer/industry trends.
• Implementation and reporting of new products internally and externally with dealers.
• Facilitate approval of new products between with AG, Risk, Legal and Compliance.
• Analyse sales performance and manage profitability.
• Maintain and manage systems for product management. (DFE, DSS, DSP, CS).
• Monitor regulation change and ensure product & campaign compliance (Incl. CREFIA disclosure required by local regulation).
• Communicate with internal/external relevant department about products and campaigns.
• Manage, drive and facilitate Product Pricing Committee and Workshops.
• Responsible for Total Product & Services Portfolio and integrated offers strategy.
• Develop and Implement pricing strategy for the BMW Financial Services SAEducate and upskill internal and external stakeholders on the product.
• Accountable for output of the team and motivate them to achieve above average performance.
• Manage resources and skills of the team.
• Ensure the team meets agreed goals and targets.
• Drive strategic decision-making processes and projects within product and campaign development.
• Responsible for the increase of efficiency, quality & time-to-market by set-up and development of lean processes.

GENERAL:

• System and process enhancement for sales and product management.
• Enhance and support systems for external stakeholders (F&I Managers, SMs).
• Regulation issue support. 
• Develop close understanding of BMW Financial Services/ National Sales Company systems for efficient campaign management.
• Product/promotions development with National Sales Company/Financial Services sales, commercial finance and external partners (insurance suppliers).
• Product/promotions education for operation departments and F&I managers.
• Follow up the regulations with compliance team and regulatory institute, if necessary.

Qualifications:

• Relevant Bachelor’s Degree.
• 8-10 years previous experience in a similar role within a Financial Services organisation.
• 2-3 years of people management experience.
• Previous experience in Product development within Financial Services
• Strong project management skills.
• Ability to move from high-level strategy to detailed execution.
• A flexible, Intrapreneurial and a service-oriented attitude with an innovative approach. 
• Strong negotiation skills.
• Good mentoring and coaching skills