Product Development Manager – Mogadishu, Somalia

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IBS Bank is looking to fill the position of a Product Development Manager.

ABOUT IBS BANK

IBS Bank is a sharia compliant commercial bank licensed by the Central Bank of Somalia. The Bank’s mission is to be a trans-formative financial solutions provider for a better society, and has a vision “to be the leading and innovative international Islamic Financial Institution (IFI)”. As a peoples’ bank, it positions itself as an attractive place to work in.

THE JOB

A bank Product Development Manager is responsible for researching, developing, and launching new

products. Responds to company initiatives by driving promotion of both new products and existing ones

to meet customer needs. In this position, the Product Development manager will work with individuals

from across the company to identify and define target market segments, market requirements, key

business strategies and the competitive environment for our niche portfolio.

THE ROLE

The role reports to Head of Business Development and Marketing.

Position: Product Development Manage

Job type: Full time

Location: Mogadishu

Product Development Manager Duties and responsibilities of the job

• Conducting R&D activities and developing conceptual framework plus specification for product innovation across the board .

• Conduct studies where necessary and continuously monitor/review market demand trends for banking products and services as well customer satisfaction identifying areas for changes or new opportunities and make regular reports.

• Developing and presenting new products, product ideas and getting the inputs and approvals from each related department and preparing the feasibility reports.

• Planning and designing new products packaging and/or related business initiatives in line with appropriate shariah concepts, risk assessment and ensure compliance with the Bank’s policies and regulatory requirements.

• Coordinate and produce annual market plans in line with the bank’s strategy and prepare data for inputs into business plans and strategy discussions..

• Provide regular feedback on product requirements, specification, functionality and pricing for decision making as required.

• Assist in preparing execute product launches and report on market uptake, market share and actual resulting sales.

• Provide inputs into the development of advertising, public relations and all marketing communications to meet product objectives plus assess their impact.
• Use statistical methods and applications to analyze customer feedback plus satisfaction and make concrete recommendations regarding guidelines and product design at the Bank.

• Analyze and support both category and cluster marketing plans to align with brand strategy and achieve annual operating plan goals.

• Monitor development process and ensure compliance to schedule and timeframe.

• Define customer segmentation and target groups and assess customer needs and requirements for each defined segments.

• Ensure that Service Standards of performance are adhered to through regular monitoring and trainings before launch of products and in refresher sessions.

• Manage relationships and support with other internal stakeholders including IT, Operations, business, Sales, compliance.

• Managing and administrating the product development processes and product pilot test/ roll out and activities.

• Initiating and coordinating the training sessions about the new products and Provide product briefing and business support.

• Perform any other duties as assigned.

THE PERSON

To qualify for the job one must have the following qualities:

EDUCATION/ PREVIOUS EXPERIENCE/ KNOWLEDGE REQUIRED

• Degree or above in Business Administration, Marketing, Finance or related disciplines

• At least 3 years with business, banking and product development experience.

• Understand how to present features and benefits of product and services to customers with differing needs
• A mature team-player, resourceful, self-motivated with high integrity.

• Proactive, innovative with remarkable organizing & problem solving skills with a strong sense of customer centricity.

• Strong organizational skills and able to produce accurate work under pressure and meeting stringent deadlines.

• Demonstrate experience in growing & retaining a customer base with good margin.

• Possess good knowledge in the areas of banking, policies, processes and procedures.
• Possess excellent Communication/ Interpersonal skills/Negotiation/Persuasive skills and good at facilitating workdhops.
• Able to take “full ownership” of issues until they are completely resolved.
• Excellent interpersonal skills and strong oral and written proficiency in English

• Computer & Data analyzing skills.

Other Personal skills

Suitable candidates will be expected to display the following additional qualities:

• Attention to detail

• Organization and time-management skills

• Ability to assess, identify and evaluate risk, plus analytical skills that establish cause and prescribe and enforce solutions
• Excellent reporting skills

• The ability to keep calm under pressure, especially when there are tight deadlines and in difficult situations
• The ability to think objectively

If you believe you meet the above specifications, send your application letter and curriculum vitae mentioning your current/last work with copies of your credentials before 31/01/2022 to: career@ibosbank.com .

 

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