Product Manager
Pan African Savings and Loans
REPORTS TO: Head of Products & Segments
POSITION PURPOSE
To manage the end-to-end lifecycle and performance of assigned banking products, from product development and launch through market growth, optimisation and review. The role is responsible for ensuring that products meet customer needs, achieve agreed financial and market objectives, remain competitive and comply with the Bank’s policies and regulatory requirements.
KEY RESPONSIBILITIES
A. Product Strategy & Development
Develop and execute product strategies aligned with Pan-African’s overall business objectives and customer needs.
Identify opportunities for new products, product enhancements and new revenue streams.
Conduct market and competitor analysis to identify emerging trends, customer needs and opportunities.
Develop business cases and proposals for new products and significant product enhancements.
Coordinate the end-to-end product development process from concept through approval and implementation.
B. Product Performance & Profitability
Set and monitor performance targets for assigned products.
Track product volumes, revenue, profitability, customer acquisition, usage and retention.
Analyse product performance and recommend corrective actions where targets are not being achieved.
Identify opportunities to improve product pricing, features, processes and profitability.
Conduct periodic product reviews to ensure continued commercial viability.
C. Product Launch & Go-to-Market
Develop product launch and go-to-market plans in collaboration with Sales & Distribution and Marketing.
Prepare product value propositions, pricing, product briefs and sales support materials.
Coordinate product rollouts and ensure branches and relevant sales teams are adequately trained.
Monitor post-launch performance and customer adoption and make recommendations for improvement.
D. Customer & Market Management
Develop a strong understanding of target customer segments and their financial needs.
Use customer insights, market research and data to inform product decisions.
Gather and analyse customer feedback to improve product features and service experience.
Ensure products remain relevant, competitive and differentiated in the market.
E. Product Governance & Risk Management
Ensure assigned products comply with regulatory requirements and Pan-African’s policies and procedures.
Maintain appropriate product documentation, terms and conditions, pricing and approval records.
Work with Risk, Compliance, Legal, Operations and other stakeholders to identify and mitigate product-related risks.
Ensure appropriate controls are embedded in new and existing products.
Coordinate periodic product reviews and regulatory or policy updates.
F. Product Lifecycle Management
Manage the complete product lifecycle, including product introduction, growth, maturity and eventual withdrawal where required.
Identify underperforming or obsolete products and recommend appropriate repositioning, enhancement or discontinuation.
Ensure product processes and documentation remain current.
Monitor product costs and operational implications and drive efficiency improvements.
G. Sales & Stakeholder Collaboration
Partner with Sales & Distribution to drive product acquisition, penetration and usage.
Provide sales teams with product knowledge, value propositions, pricing information and relevant tools.
Work closely with Digital, Operations, Technology, Finance, Risk, Compliance and Marketing teams to deliver product objectives.
Act as the key product subject-matter expert and point of escalation for assigned products.
H. Reporting & Insights
Prepare regular product performance reports for the Head of Products & Segments.
Provide management with insights on product performance, market trends, customer behaviour and competitive positioning.
Develop dashboards and management information to support product decision-making.
Track agreed product KPIs and recommend interventions to improve performance.
KEY PERFORMANCE INDICATORS (KPIS)
Product revenue and profitability.
Growth in product balances, volumes and transaction activity.
New customer acquisition and product penetration.
Customer activation, usage and retention.
Achievement of product targets and business plan objectives.
Successful launch and adoption of new products.
Product market share and competitive performance.
Product turnaround time and process efficiency.
Customer satisfaction and product-related complaints.
Compliance with product governance and regulatory requirements.
QUALIFICATION
Bachelor’s degree in Business Administration, Banking & Finance, Marketing, Economics or a related field.
Professional qualification or postgraduate degree in Product Management, Marketing, Business or a related discipline is an advantage.
Minimum of 4–5 years’ relevant experience in banking, financial services, product management, business development or a related field.
Demonstrable experience in developing, launching and managing financial products.
Strong understanding of banking products, customer segments, market dynamics and financial performance.
COMPETENCIES
Product management and lifecycle management
Commercial and financial acumen
Market and customer insight
Business development
Data analysis and performance management
Strategic thinking
Project and stakeholder management
Innovation and problem-solving
Risk and regulatory awareness
Communication and presentation
Negotiation and influencing
Customer-centricity