Product Manager - Cards

Hugo Bank; Karachi Division; On-site; PKR 2,400,000 - 4,800,000; Full time

Job summary

HugoBank seeks a Product Manager - Cards to lead the credit card portfolio, including secured and unsecured variants, aligning strategy with financial inclusion and lending-first goals. You will own end-to-end lifecycle, CVPs, and partnerships with Visa, PayPak, and Mastercard.

The role emphasizes cross-functional leadership, data-driven insights, and regulatory awareness to scale the card portfolio in Pakistan.

Qualifications

• Bachelor's degree in Business Administration, Finance, Economics or related field.
• 6+ years progressive experience in Product Management in Credit Cards, Consumer Lending, or Payments.
• Proven track record of developing and managing credit card products including secured, unsecured, and co-branded variants.
• End-to-end product lifecycle management from conceptualization and go-to-market to performance tracking and optimization.
• Exposure to SBP regulatory frameworks governing credit cards, consumer protection, and payment instruments.
• Hands-on experience collaborating with card schemes (Visa, PayPak, Mastercard) and third-party processors (e.g., IDEMIA, NymCard, or equivalent).
• Experience working in banks, fintech, or card-issuing institutions preferred.

Responsibilities

• Define and execute the end-to-end product strategy for HugoBank's Credit Card portfolio including secured and unsecured variants.
• Develop differentiated customer value propositions (CVPs) for key segments such as salaried millennials, professionals, and emerging credit users.
• Collaborate with Visa, PayPak, Mastercard to design propositions with strong rewards and engagement.
• Translate concepts into BRDs and work with Technology and Operations for timely delivery.
• Monitor portfolio health and drive spend, retention, and cross-sell initiatives.
• Ensure SBP compliance and coordinate with Compliance and Legal for approvals.
• Lead cross-functional collaboration across Technology, Credit Risk, Operations, Finance, Marketing and CX.

Education

Bachelor's degree in Business Administration, Finance, Economics or a related field

Job description

The Product Manager - Cards will be responsible for developing, managing, and scaling HugoBank's Credit Card portfolio, encompassing both secured and unsecured variants. This role serves as the central point of ownership for product strategy, design, performance, and regulatory alignment across the card lifecycle from acquisition and activation to usage, collections, and retention. The incumbent will play a pivotal role in shaping the evolution of HugoBank's credit card strategy, leveraging data, partnerships, and customer insights to drive portfolio growth and financial inclusion in alignment with the Bank's broader mission.

Essential Duties and Responsibilities

Product Strategy & Proposition Development

• Define and execute the end-to-end product strategy for HugoBank's Credit Card portfolio including secured and unsecured variants aligned with the bank's financial inclusion and lending-first vision.
• Develop differentiated customer value propositions (CVPs) that address key customer segments such as salaried millennials, professionals, and emerging credit users.
• Conduct market scans and competitor benchmarking to identify whitespace opportunities, pricing gaps, and innovative features contextual to Pakistan.
• Create and maintain the Credit Card Product Roadmap, ensuring alignment with the bank's overall product evolution and regulatory milestones.
• Collaborate with internal stakeholders and external partners (Visa, PayPak, Mastercard, etc.) to design compelling propositions with strong reward, spend, and engagement potential.

Product Design, Development & Implementation

• Translate product concepts into detailed Business Requirement Documents (BRDs) and work with Technology and Operations for delivery within agreed timelines.
• Develop new features, loyalty propositions, and digital enhancements to improve user experience and differentiation.
• Coordinate with Vendors and Processors for card issuance, tokenization, personalization, and lifecycle management.
• Support testing, UAT, and post-launch monitoring to ensure seamless product rollout.
• Regularly review customer journeys and feedback to identify friction points and propose design enhancements.
• Contribute to the long-term evolution of the bank's credit ecosystem by providing insights into customer behavior, regulatory trends, and technology advancements.
• Support the development of new features, loyalty propositions, and digital enhancements to improve user experience and differentiation.
• Assist in exploring opportunities for embedded card offerings (e.g., co-branded or partnership cards) aligned with HugoBank's strategic ecosystem.
• Stay informed on emerging card technologies such as tokenization, contactless payments, and AI-driven credit scoring to recommend future initiatives.

Portfolio Management & Performance Optimization

• Monitor portfolio health, including key metrics such as activation, utilization, delinquency, and profitability.
• Drive initiatives to increase spend, retention, and cross-sell, leveraging customer insights and behavioral data.
• Develop strategies to migrate secured customers to unsecured credit cards based on internal credit behavior and repayment history.
• Maintain the product P&L, working with Finance to track revenue drivers (interest income, interchange, fees) and manage cost levers.
• Build and execute campaigns and offers that drive product stickiness and long-term engagement.
• Map and streamline end-to-end lending processes to improve efficiency, reduce turnaround time, and enhance customer experience.

Governance, Risk & Compliance

• Ensure full compliance with State Bank of Pakistan (SBP) regulations, consumer protection guidelines, and internal risk policies.
• Work with Compliance and Legal teams to ensure proper documentation, disclosures, and product approvals.
• Coordinate with Fraud Risk and Operations for chargeback, dispute, and fraud monitoring frameworks.
• Conduct periodic risk reviews to identify control gaps and implement corrective actions.

Cross-Functional Collaboration & Stakeholder Management

• Act as the primary product liaison across internal functions - Technology, Credit Risk, Operations, Finance, Marketing, and Customer Experience.
• Engage with external partners to ensure seamless delivery and innovation.
• Partner with Marketing to design go-to-market campaigns, customer education, and lifecycle communication strategies.

Secondary Responsibilities

• Participate actively in cross-departmental workshops and agile sprints, providing input from a credit card product perspective.
• Liaise with Operations and Contact Centre teams to ensure smooth resolution of customer service issues related to card activation, billing, rewards, and disputes.
• Coordinate with Back-Office and Finance to ensure accurate reconciliation of credit card transactions, fees, and commission payouts.
• Contribute to the preparation of regulatory submissions, inspection responses, and compliance reports related to credit cards.
• Ensure marketing collaterals, campaigns, and communication materials are reviewed and approved by Compliance before release.

• Bachelor's degree in Business Administration, Finance, Economics or a related field from a recognized institution is mandatory
• 6 years + of progressive experience in Product Management in Credit Cards, Consumer Lending, or Payments.
• Proven track record of developing and managing credit card products including secured, unsecured, and co-branded variants.
• Demonstrated experience in end-to-end product lifecycle management, from conceptualization and go-to-market to performance tracking and optimization.
• Exposure to SBP regulatory frameworks governing credit cards, consumer protection, and payment instruments.
• Hands-on experience collaborating with card schemes (Visa, PayPak, Mastercard) and third-party processors (e.g., IDEMIA, NymCard, or equivalent).
• Experience working in banks, fintech, or card-issuing institutions will be preferred.