Job Family Card - Product Development

Develop and evaluates products, and makes enhancements to existing products. Appraise new product ideas and determines their potential to address client's needs and achieve goals in revenue growth and market share. Identify and develops new market segments for current products to meet customers' needs effectively.

Job Family Code

IPD

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Job Roles

Card Job Role Description

Job Role

Product Development Specialist

Job Family Code

IPD

Job Family

Product Development

Responsibilities

    Monitor market trends and information collected by the organisation to identify potential areas for the development of new financial products, and the restructuring of existing products.

    Take new and modified commercial lines products from concept to implementation across all lines of business for the target niche.

    Provide regular feedback on targeted segments and product requirements for local markets including product specifications functionality and pricing.

    Propose practical solutions based on research and background knowledge of the latest developments in technologies related financial fields.

    Identify risks associated to clients segments and the development of new products and services.

Card Job Role Description

Job Role

Product Development Supervisor

Job Family Code

IPD

Job Family

Product Development

Responsibilities

    Conduct market scan, competitor activities and movements, and better understand clients needs for price recommendations and decision making.

    Identify critical gaps in the organisation's product portfolio and developing and implementing product development options.

    Assess operational risks in the design of new products.

    Measure and monitor the product or service’s performance as well as presenting product related consumer, market, and competitive intelligence to management.

    Ensure that there is compliance with relevant legislation, regulations, and organisation's business processes and policies including the client fiduciary responsibility.

Card Job Role Description

Job Role

Product Development Associate

Job Family Code

IPD

Job Family

Product Development

Responsibilities

    Use internal and external data sources to improve the organisation's understanding of product markets, competitors activities, and client segments.

    Use statistical methods and applications to analyse customer applications and make concrete recommendations regarding underwriting guidelines and product design.

    Perform initial analysis to assess need for requested changes and the potential impact of these.

    Facilitate effective and client centred solutions to customers’ financial issues.

    Respond in a timely fashion to all enquiries/requests for product information and/or changes.
     

Card Job Role Description

Job Role

Product Development Manager

Job Family Code

IPD

Job Family

Product Development

Responsibilities

    Contribute to the development and oversee implementation of products strategy and vision.

    Introduce new products plan and ensure the organisation's products portfolio is inclusive and satisfying clients demand.

    Manage the implementation and operation of new technologies and service innovation for all of the organisation's products and services.

    Manage and monitor the product’s cost and potential margin and measure profitability.

    Manage the product development team performance and ensure objectives are met.

Card Job Role Description

Job Role

Head of Product Development

Job Family Code

IPD

Job Family

Product Development

Responsibilities

    Contribute to the formulation of the overall organisation's strategy, in collaboration with others in the executive team, focusing on the organisation's product development function.

    Approve and ensure implementation of product development function policies and procedures and ensure its efficiency.

    Manage product development function and ensures its compliance to regulatory requirements as well as market standards.

    Manage and monitor product development function budget for cost efficiency.

    Manage internal and external relationships and represent the organisation in all business matters related to product development function.

    Ensure operations are implemented using new technologies and promote service innovation within the organisation.

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