Job Purpose:
- To facilitate the development of a proactive, coherent and competitive product and innovation strategy by driving and coordinating research into new and existing product innovations across the group and ensuring that development efforts are prioritised and funded effectively
- To monitor overall product portfolio performance and commercial viability across the group and its markets.
Key Responsibilities:
- Works with the Group Head, Strategy & Insights to define the product research and innovation strategy. Drives the implementation and delivery of approved initiatives and objectives within the agreed budget
- Engages with group leadership and strategic SBUs to establish and agree a product development and enhancement framework for the organisation
- Engages with the market sales teams and other relevant internal and external contacts to develop a thorough understanding of the company’s markets, customer needs and competitor activity. Uses insights gained to advise and support SBUs and Group leadership as they develop their product plans
- Ensures all innovative initiatives are based on the strategic direction and goals of the organisation, taking into consideration the competitive market environment and the business operations
- Monitors the performance of the company’s product portfolio, and engaging with Strategic Business Units (SBUs) to devise solutions to maximise the success of these products in the company’s various markets
- Coordinate cross-departmental teams as they work to develop and test new ideas and serves as a key leader and liaison as innovative ideas are brought to scale
- Drives product strategy and performance in collaboration with sales, marketing and the group shared technology team
- Ensures definition of product release requirements to ensure successful introduction of new products
- Liaises with Marketing and SBUs to define the go-to-market strategy, helping them understand the product positioning, key benefits, and target customer.
- Conducts periodic reviews of products and product performance. Uses insights gained to:
- provide informed recommendations on product development and phase-out pipelines
- define the criteria for adding and dropping products from the Group’s global product portfolio
- drive focus on high-potential products
- Manages the relationship with Group Shared Technology to ensure market and customer requirements are effectively translated to user stories and use cases
- Engages with the SBUs, Service delivery and Group Shared Technology teams to establish and mine ideas for innovations through a product knowledge management framework
- Facilitates cross-functional collaboration (i.e. Corporate and consumer segment, marketing, finance, project management, technology development, etc.) by managing the product development process from conception through design, build, release, analysis and iteration to ensure it satisfies customers’ needs
- Works with Group Head, HR & Admin in fostering a culture of innovation by advising on onboarding, learning and capability development initiatives
- Works with the Group Head, HR & Admin to support the creation of a structure capable of seizing rapidly emerging opportunities
Key Performance Indicators:
Product management/performance:
- Number of executable ideas / innovation within agreed period
- Relevance of innovative ideas and the problems they address
Business growth:
- Amount of revenue generated by new innovation/enhancement
- Profitability of innovation/enhancement as matched with cost/enhancement
Budgetary control:
- Variance in target vs. actual budget per product
Relationship management:
- Feedback on collaboration and team work
Customer satisfaction:
- Staff satisfaction level on response to request
- Customer satisfaction with the timeliness and efficiency on products delivered
- Quality of products delivered
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