First Bank of Nigeria Limited (FirstBank) is Nigeria’s largest financial services institution by total assets and gross earnings. With more than 10 million customer accounts, FirstBank has over 750 branches providing a comprehensive range of retail and corporate financial services. The Bank has international presence through its subsidiaries, FBN Bank ...
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Define strategy for products based on overall direction of the bank
Define product budget /target and ensure realization in collaboration with sales specialists and relationship managers
Elaborate recommendations and ensure implementation and efficiency
Define targeted market shares, sales forecasts and profitability objectives
Constantly adapt to the evolution of the market, detecting and studying the potential opportunities to create a new product and/or ensure the adaptation of current products
Obtain market intelligence reports and advise sales leads to technical sales specialists
Oversee collection of information directly or indirectly related to all products to propose areas of development (market analysis, evolution, competitors’ activities, etc.
Manage relationships with key partners
Workforce training on product usage
Regular benchmark TB offerings of other banks to ensure competitiveness
Periodically analyze product performance by customer segment/location/BU etc and take appropriate action
Work closely with Sales teams, Information Technology team and Operations to develop and enhance products
Assess demand in the market for products to determine the need to develop or enhance products
Plan out how to efficiently roll out and implement product schemes
Support Product Sales when announcing new changes in products
Conceive products in relation with Risk, Finance, Operations, Legal and Compliance Units.
Work with marketing team to define most suitable media plan (type of media, period, frequency, etc.) to create awareness of new and existing products
Monitor product performance periodically and provide performance report to management based on results obtained vs. targets.
Oversee analysis of results of launching new product/development
Follow-up on relevant indicators (e.g. turnover, pricing, market share, etc.
Ensure team has necessary skills and knowledge required for current and future needs
As part of the Bank’s Information Security requirements, maintain the security of all Information entrusted to the staff and comply with the principles and policies in the Information Security Handbook.
JOB REQUIREMENTS
Education
Minimum Education: First Degree in any related discipline. MBA or advance degree equivalent in Business administration, Finance or related field is an added advantage
Experience
Minimum of 5 years experience in banking with significant experience in Product Management and Design
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