Manager, Islamic Retail Deposits

Confidential Company; Kuala Lumpur; On-site; MYR 300,000 - 520,000; Full time

Job summary

Confidential Company in Malaysia seeks a strategic leader to own the Islamic Retail Deposits portfolio, driving multi-year balance sheet growth and margin resilience.

You will lead a team of product managers, align with Branch Distribution Heads, Digital Banking, and Compliance, and ensure compliance with BNM and Shariah standards.

This role requires deep expertise in ALCO, P&L, COF optimization, and cross-functional execution to grow CASA and deposits while managing risk.

Qualifications

• 10–12+ years in retail banking/deposits, with 3–5 years in a managerial role supervising product managers.
• Knowledge of BNM policy documents (PD), Shariah standards (Tawarruq, Qard, Wakalah), and PIDM deposit insurance rules.
• Proven track record in balance sheet optimization, P&L management, ALCO decision-making, and executive stakeholder influence.

Responsibilities

• Own the deposit portfolio P&L, Net Profit Margin (NPM), Cost of Funds (COF), and FTP optimization.
• Develop and implement growth strategies in deposit balances, margin optimization and new customers.
• Formulate ALCO strategies to optimize retail CASA vs fixed deposits for sustainable funding.
• Lead engagement with Branch Distribution Heads, Wealth Management, Digital Banking, and Conventional Banking to drive cross-selling and retail penetration.
• Formulate strategies to reduce dependency on wholesale deposits to stabilize profit margins.

Skills

P&L management

ALCO

Deposits growth

Stakeholder management

Shariah governance

Education

Bachelor’s or Master’s Degree

Agile/Product Management certifications (PSPO/CSPO)

Islamic Banking certifications (CPIF/CIFP or equivalent)

Job description

To provide strategic leadership, portfolio governance, and P&L oversight for the Islamic Retail Deposits portfolio. This role is responsible for driving the multi-year balance sheet growth, CASA ratio optimization, customer franchise expansion, and margin resilience, while leading and developing a team of product managers to execute product lifecycle strategies, regulatory compliance, and cross-functional distribution alignment.

Key Responsibilities

Functional (Job Responsibilities)

• Own the deposit portfolio P&L, Net Profit Margin (NPM), Cost of Funds (COF), and FTP (Funds Transfer Pricing) optimization.
• Develop and implement comprehensive growth strategies in deposit balances, margin optimization and new customers aimed at achieving 5 years’ deposit target.
• Formulate overarching ALCO strategies to optimize the mix between retail CASA and fixed deposits to ensure sustainable funding and minimize margin compression.
• Lead high-level engagement with Branch Distribution Heads, Wealth Management, Digital Banking, and Conventional Banking counterparts to drive cross-selling synergies and retail penetration.
• Formulate and implement strategies to reduce the Bank’s dependency on wholesale deposit as a means of managing profit margin to ensure more stable financial foundation.
• Implement pricing strategies and portfolio initiatives that are designed to optimize the retail banking balance sheet and transfer pricing facilitating sustainable deposit growth.
• To drive performance of Islamic deposit product and services through active engagement with the Bank’s distribution network and SLA partners to ensure sales volume growth, portfolio growth and customer retention.
• To drive and implement strategic initiatives and work alongside Conventional business unit to extend the reach and penetration of products into target markets which focus both on financial gain and customer satisfaction.
• To develop a holistic acquisition and customer retention strategies across multiple touchpoints.
• Steer the overall retail liability strategy, overseeing end-to-end product roadmaps, innovation pipelines, and high-impact acquisition/retention programs executed by the product team.
• Monitor and managing products costs and control, implementing control and measures to minimize the Bank’s exposure to risk associated with deposit products.
• Managing end to end product management and lifecycle across all the Islamic retail deposit products.
• Review existing processes and driving improvements to simplify the process for both our customers and frontline staff and operations teams, enhancing efficiency and customer experience.
• Conduct business analytics on product metrics, to review business performance and come up with insights and action.
• Act as the key business interface with the Shariah Committee, Risk, and Compliance, ensuring all deposit propositions strictly adhere to BNM (Bank Negara Malaysia) guidelines, PIDM standards, and Shariah governance frameworks.
• Work with marketing department to ensure that marketing campaign on the deposit is aligned with sales target and ensure the effectiveness of the campaign.

Managerial (Team/Group Responsibilities)

• Lead, mentor, and evaluate Deposit Product Managers; establish clear KPIs, balance scorecards, and performance tracking.
• Build a high-performing product team skilled in data-driven portfolio management, digital journey design, and agile product ownership.
• Oversee product development budgets, marketing spend optimization, and project prioritization across multiple deposit initiatives.

Organizational (Organizational Responsibilities)

• Excellent organizational and co-ordination skills, intellectually curious.
• Possess dynamic and positive working attitude towards multi-tasking and proactively seeks out opportunities to advance and implement improvements.

Requirements

Education / Qualification

• Bachelor’s or Master’s Degree; certifications in Agile/Product Management (e.g., PSPO/CSPO) and Islamic Banking (e.g., CPIF, CIFP, or equivalent).

Experience

• Minimum 10–12+ years in retail banking/deposits, with at least 3–5 years in a managerial or team leadership role supervising product managers.
• In‑depth knowledge of BNM policy documents (PD), Shariah standards (Tawarruq, Qard, Wakalah), and PIDM deposit insurance rules.
• Proven track record in balance sheet optimization, P&L management, ALCO decision-making, and executive stakeholder influence.

Special Skills

• Thorough understanding of retail deposit operations, pertinent regulations impacting retail banking.
• Excellent communication skills and proven stakeholder-facing experience, ideally with both technical and non-technical stakeholders.
• Strong, problem‑solving, and analytical, skills.
• Strong ability to use numerical data to develop tactical plans within the broad context of strategic plans and change them as warranted by results.