Daily Banking Product Manager

Stryker Corporation; Muscat; On-site; Confidential; Full time

Job summary

A leading banking institution in Muscat is seeking an experienced Product Manager to manage the full lifecycle of daily banking products. You will oversee product design and development, ensuring alignment with the bank's strategic objectives. The ideal candidate will have over 7 years of experience in product management within retail banking, focusing on profitability and customer satisfaction. This role offers a chance to innovate in the banking space.

Qualifications

• Minimum 7 years of experience in product management within retail banking, preferably in liabilities or payments.

Responsibilities

• Develop and enhance daily banking products such as remittances and payments.
• Track and analyze product performance metrics.
• Coordinate with various departments for product rollouts.
• Ensure product compliance with regulations.

Skills

Product management

Market research

Stakeholder collaboration

Customer-centric design

Education

Bachelor’s degree in Marketing, Business Administration, or related field

Job description

Job Description

Responsible for managing the full lifecycle of daily banking products - including remittances, payments, transfers, current accounts, and other liability products - to maximize profitability, customer satisfaction, and market share. The role focuses on product design, development, maintenance, enhancement, and performance monitoring. The incumbent will collaborate closely with sales, marketing, IT, operations, and finance teams to ensure delivery of innovative, compliant, and customer‑centric banking solutions aligned with the Bank’s strategic objectives.

Key Responsibilities

Product Strategy and Development

• Develop and enhance daily banking products such as remittances, payments, transfers, and current accounts in alignment with the Bank’s growth objectives.
• Conduct market research and competitive benchmarking to identify product opportunities and improvement areas.
• Formulate business cases, product concepts, and value propositions for new and existing products.
• Lead end‑to‑end product lifecycle management - from ideation, design, development, and implementation to phase-out.
• Explore new technologies and partnerships to introduce innovative remittance and payment solutions.

Product Performance and Profitability Management

• Track and analyze product performance metrics (volume, profitability, customer usage, and cost efficiency).
• Prepare product performance reports, highlighting key trends, risks, and opportunities.
• Recommend and implement pricing strategies, fee structures, and process optimizations to enhance profitability.
• Ensure all products meet revenue targets, operational efficiency, and customer satisfaction objectives.

Stakeholder Collaboration and Coordination

• Coordinate with Retail Banking Sales, Marketing, Operations, Finance, IT, and Compliance to ensure smooth product rollouts and ongoing performance management.
• Work with external partners and vendors to ensure the timely and accurate implementation of enhancements and new initiatives.
• Collaborate with corporate communications for marketing campaigns and promotional activities to boost product uptake.
• Liaise with the Call Center, Branches, and Operations for product‑related support and issue resolution.

Policy, Process, and Compliance Oversight

• Ensure product features, processes, and documentation comply with CBO regulations and internal policies.
• Review and recommend changes to operational procedures, systems, and policies to improve service quality and competitiveness.
• Maintain up‑to‑date knowledge of regulatory developments and industry trends affecting daily banking products.

Monitoring and Reporting

• Regularly monitor product KPIs, including customer acquisition, retention, and profitability.
• Prepare periodic performance dashboards and reports for management review.
• Proactively identify deviations from targets and recommend corrective actions.
• Support audit and compliance reviews by maintaining proper product documentation and records.

Customer Focus and Innovation

• Identify and respond to evolving customer needs through product enhancements or new propositions.
• Ensure customer‑centric design of daily banking products to improve accessibility and satisfaction.
• Engage with internal teams to collect feedback and implement improvements to existing offerings.

Project and Change Management

• Manage projects related to new product launches, digital initiatives, or system enhancements.
• Coordinate with IT and vendor teams to ensure successful delivery and testing of product‑related systems.
• Support digital transformation initiatives linked to payments and liability products.

Requirements

• Bachelor’s degree in Marketing, Business Administration, or related field.
• Minimum 7 years of experience in product management within retail banking, preferably in liabilities or payments.