Product Manager - Banking

Al Rayan Bank
02 May 2017
02 Jun 2017
Contract Type
Full Time

Job Title: Product Manager

Location: Central Birmingham

Salary: £35,000 - £40,000 (plus additional benefits and bonus)

Al Rayan Bank is a growing, ethical bank based in new offices in central Birmingham. As part of the Masraf Al Rayan Group, we've got exciting growth plans and an aim to deliver a professional, first class service to our customers.

We're looking for a Product Manager, to join our Product Management Team. This is a fantastic opportunity to join our growing bank where we can offer exceptional opportunities for you to make your mark and progress your career.

We offer great benefits including an attractive basic salary, a competitive incentive scheme, private medical insurance and 25 days’ holiday.

Purpose of the role:

  • Interpreting the strategic plan to recommend and subsequently implement tactical product plans to provide products and services to fit the demands and needs of Al Rayan Bank’s core target audiences.
  • Ensure that the business maintains an understanding and view on the current market and competitor activity, and awareness of current and future trends, allowing the Bank to apply this knowledge to the strategic plan.
  • Work closely and collaboratively with colleagues around the business to help achieve the objectives as part of the overall strategic plan.

Key responsibilities and tasks

  • Understand the strategic plan, and apply that understanding to effectively manage the Bank’s range of retail mortgage products by:
  • Producing and interpreting MI to monitor the product ranges to understand how products are performing, whilst considering the customer insight as to the needs and demands of the relevant target segments.
  • Amend, tailor and develop the existing product ranges, and new products where relevant, to meet the needs and demands of target audiences based on product and customer MI.
  • Produce monthly competitor analysis that benchmarks the Bank’s products against the market as whole, and provide the business with a view of the markets current and future trends.
  • Keep abreast of good / best practice from direct competitors, the financial services industry in general and others who are more broadly targeting Al Rayan Bank’s target market. Develop improvements to the Bank’s products and activities from the insight generated.
  • Actively use qualitative and quantitative customer insight, and work with colleagues from around the business to identify new ideas and products for achieving the commercial objectives.
  • Where required, develop and deliver detailed product papers for submission to the Product Pricing and Development Group (PPDG), ALCO, Credit Committee or Board as appropriate
  • Write copy for product materials as required, following the tone of voice and content guidance as set out in the brand guidelines. Ensure that there are zero errors in all work, using checking process to maintain the highest levels of accuracy.
  • Ensure that all product and product materials are compliant, following the Financial Conduct Authority guidelines and legal guidelines, on marketing promotions, whilst following the relevant marketing industry regulations.
  • Ensure that all products and product materials are Sharia compliant, in accordance with the guidance of the Sharia Supervisory Committee and the Sharia Compliance and Product Development team
  • Clearly understand the brand strategy, the image the business wishes to portray and the detail of the brand guidelines. Follow these guidelines when developing products and product materials to ensure that all activity is 'on-brand’ and supports the broader objectives.
  • Generate documents and reports as appropriate to reflect proposed activity, current activity and performance against objectives, and contribute to business wide reports in an effective and timely fashion.
  • Create and deliver face to face presentations as required on proposals, activity and performance.
  • Attend department and company meetings, contributing effectively as required.
  • Undertake any other such activities as required and relevant outside of the above to achieve the objectives of the business as a whole.

Performance Measures

  • Completion of activities as per plan
  • Timeliness of activity vs. target
  • All output to be judged against:

o Regulatory compliance

o Sharia compliance

o Brand compliance

o Accuracy of materials

  • Perception amongst colleagues as being supportive of the businesses objectives and the company strategy as a whole - pro-active, hard-working, helpful, innovative, can-do attitude, friendly.

Competencies, skills, knowledge and experience to undertake the role:


  • Extensive product management experience of managing and developing retail Banking mortgage products
  • Successful record of product management to defined target audience(s)
  • 5 x GCSES or equivalent, one of which must be Maths at grade C or above
  • Customer centric with the ability to understand customer needs, in the context of a competitive set, and the ability to develop communications which differentiate.
  • Energetic and proactive
  • Creative, able to generate new ideas
  • Analytical skills
  • Organised and methodical
  • Ability to work on a number of projects at the same time
  • Strong team player willing to work with others across the marketing disciplines
  • Ability to work under pressure
  • Effective communication skills
  • Commercial awareness
  • Demonstrate the ability to interact and co-operate with internal and external stakeholders
  • Ability to manage partners to deliver to the required standards and deadlines


Experience of delivering products and services to p