Vice President - Products & Services

Commercial Bank International; Dubai; On-site; AED 300,000 - 400,000; Full time

Job summary

A leading bank in Dubai is seeking a Vice President of Products and Services to drive the strategy and innovation of retail banking products. The role involves managing product lifecycles, ensuring competitiveness, and leading teams to enhance customer-centric offerings. The ideal candidate will have extensive experience in retail banking and a strong understanding of the UAE market.

Qualifications

• 10-12 years in Retail Banking, with 5 years in similar managerial roles.
• Excellent understanding of UAE retail banking market.
• Proficiency in digital banking channels and fintech integration.

Responsibilities

• Lead design and management of retail banking products.
• Monitor product performance and optimize strategies.
• Oversee operations of call center and branch network.

Skills

Product Development

Portfolio Management

Channel Optimization

Digital Banking

Regulatory Compliance

Leadership

Analytical Skills

Communication

Education

Bachelor’s Degree in Business, Finance, or related field

Master’s Degree in Business, Finance, or related field

Job description

Job Purpose:

The Vice President of Products and Services is responsible for the strategy, development, innovation, and lifecycle management of all retail banking products and services. This role ensures that offerings are competitive, customer-centric, and aligned with the bank's strategic goals. It encompasses both traditional and digital products across deposits, lending, cards, payments, insurance, and other financial services, driving growth and market relevance through continuous innovation and strategic oversight.

Duties and Responsibilities:

Key Responsibilities and Business Scope:

Key Responsibilities: Product Strategy & Development:

1. Lead the design, development, and ongoing management of the bank’s retail banking products and services portfolio.

2. Ensure product propositions are market-relevant, innovative, and meet evolving customer needs across all segments.

3. Ensure product offerings are market-competitive, differentiated, compliant with regulatory requirements, and aligned with customer expectations.

4. Drive innovation in product development, bundling, and service offerings, with a strong focus on digital capabilities and sustainability.

5. Develop and manage product roadmaps, including enhancements, pricing strategies, and bundling opportunities.

Portfolio Management & Optimization:

6. Monitor product performance, profitability, and customer satisfaction, and take proactive measures to optimize product design and pricing.

7. Regularly assess and adapt strategies to optimize portfolio performance and growth.

8. Collaborate with sales, marketing, digital, operations, and risk teams to ensure successful product implementation and delivery.

9. Perform competitive analysis and market intelligence to inform product strategy and maintain competitiveness.

Channel Management:

10. Call Center:

o Oversee the operations and strategy of the call center to ensure high-quality customer service and support.

o Develop initiatives to enhance customer interaction and satisfaction.

o Implement technology solutions and training programs to improve call center efficiency and effectiveness.

11. Branch Network:

o Manage the retail banking branch network, focusing on optimizing customer experience and operational efficiency.

o Develop strategies to increase foot traffic and conversion rates within branches.

o Ensure branches are equipped with necessary resources and training to meet customer needs and achieve sales targets.

12. ATMs (CDM):

o Oversee the management and maintenance of 21 ATMs, including CDMs, ensuring operational efficiency and strategic placement.

o Enhance ATM functionality and security, ensuring convenient and secure banking services.

o Monitor ATM performance and customer feedback for continuous improvement.

13. Digital Channels (Mobile Banking & Internet Banking):

o Lead the development and management of digital banking channels, ensuring they are user-friendly, secure, and aligned with customer needs.

o Drive innovation in mobile and internet banking services to enhance customer engagement and adoption.

o Collaborate with IT and security teams to ensure robust cybersecurity measures. Team Leadership:

o Directly manage senior managers responsible for product lines and channel operations.

o Foster a culture of innovation, high performance, and customer-centricity.

o Coach and mentor product managers and channel heads to build a high-performance, client-focused team.

Business Scope:

14. Portfolio Size:

o Loans: AED 1.5 Bn

o Deposits: AED 4 Bn

o Cards: AED 50 Mn

o Bancassurance: Develop and manage a comprehensive suite of insurance products tailored to different customer segments.

o Wealth Management: Develop and manage a comprehensive suite of wealth products.

o Total Assets and Liabilities Managed: Support the Head of Sales and sales teams in delivering annual targets by providing robust products and services.

o Regularly assess and adapt strategies to optimize portfolio performance and growth.

15. Product Development Budget:

o Annual Budget/OPEX: AED 20 Mn

o Responsible for managing the budget to support research, development, marketing, and product innovation initiatives.

Education:

• Bachelor’s Degree/ Master’s Degree in Business, Finance, or related field.

Experience:

• 10 – 12 years extensive experience in Retail Banking, of which at least 5 years in similar positions of progressively increasing managerial responsibilities in a similar function.

Other Skills Required for the Job:

• Excellent understanding of UAE retail banking market and customer dynamics.

• Proven track record in product development, portfolio management, and channel optimization.

• Proficiency in digital banking channels and fintech integration.

• Strong understanding of regulatory and compliance requirements in the UAE banking sector.

• High level of analytical skills and ability to understand scientific marketing techniques including surveying and statistical analysis in marketing program development.

• Demonstrable leadership, decision-making, project management, thought leadership and collaborative skills.

• Evidenced experience of driving positive change, transformation and setting appropriate KPIs and objectives to achieve high performance and overall excellence.

• Ability to manage, motivate and develop multiple teams and managers reporting.

• Understands a bank’s operations, sales and support environments.

• Excellent oral and written communication skills.