The primary objective of this role is to deliver a competitive suite of targeted trade products for Mashreq s Corporate and FI clients wishing to avail these services or book deals in India whilst driving programs to capture high quality trade assets and transaction flows that will generate strong revenue growth and attractive returns for the Bank.
- Minimum 10 years of product management experience in documentary and open account trade in the Indian market
- Deep understanding of international trade products and practices especially as it relates to trade between India, South Asia and other regions including both major importers and exporters
- Strong understanding of specific regulatory requirements in India and more broadly UCP600 rules
- Ability to advise on technical aspects and support solutioning of complex structured trade products
- Track record developing, implementing, and successfully commercialising multiple trade products
- Experience in agile product and technology development approaches
- Strong people and stakeholder management skills
- Strong analytical and data rationale mindset
- Strong communication and interpersonal influencing ability
The role will be primarily focused on delivering a full suite of documentary trade products together with a more targeted set of open account trade products.
The role is accountable for delivering the product P&L in the country and includes end to end management responsibility for product strategy, innovation, development, commercialisation, and compliance of these products with global/local regulatory requirements and bank policies.
Documentary Trade products and services include Import Letters of Credit, Back-to-Back LCs, Inward Collections, Export Letter of Credit Advising and Confirmation, Outward Collections, Short Term Trade Loans, Export Bill Discounting, and Bank Guarantees / SBLCs.
Open Account Trade products include Trade Loans, Receivables Financing, Invoice Discounting, and other ancillary services.
The overall global trade product strategy and development is driven by central Trade product teams in UAE. This role will act as the local representative of the global product teams and be responsible for both rolling out global trade products in the local market as well as developing and delivering local products.
Key Responsibilities
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Drive Overall Financial Performance
drive the overall financial performance of your products by launching products and initiatives to grow volumes and trade assets whilst establishing strategies to optimise fee pricing, and Net Interest Margins (NIMs) on deals. Work with Technology and Operations to identify opportunities to digitise processes and lower costs -
Understand the Market
understand the market landscape for your products by constantly scanning the market for regulatory developments, trends, drivers, client needs and competitor offerings (including fintechs and alternative providers) through market analysis, feedback from Sales, direct client interaction, participation in industry bodies and associations, interaction with colleagues at other banks, discussions with Compliance and regulators, industry research papers, and feedback from voice of the client surveys. -
Develop the Product Strategy
develop a comprehensive strategy for your products by clearly defining the market landscape and drivers, core product proposition, target market and client segments, addressable market size, projected share of wallet and associated volumes/revenues, competitor capability assessment, product development roadmap, and commercialisation strategy -
Drive Product Innovation
identify opportunities to launch global products, develop new local products or enhance existing products based on market/sales feedback, client needs and/or regulatory changes. Build a pipeline of potential product developments by advancing and testing concepts with key stakeholders, prioritizing developments based on a sound commercial assessment of each opportunity, preparing formal investment plans, and seeking internal approvals -
Support Product Development
work with the central Product Development team (and local Operations and Technology teams where relevant) to deliver new products or enhancements by participating in the working level project team as the Subject Matter Expert for your products. Clearly defining the scope of each product build/enhancement by preparing a comprehensive Business Requirements Document, or modifying global documents for local use, and providing regular and real-time feedback on any product impacts from the systems development and testing as it progresses for each product. Participate in the development of test cases, standard operating procedures and the product implementation guide supporting delivery of the product to market -
Commercialise Offering
develop and execute a comprehensive Go to Market plan for each core product including revenue/volume targets, client target market and prospect lists, core marketing/sales materials, and product training for the local Sales and Coverage teams. Track and monitor execution against specific calling targets and pipeline, participate in joint calls on clients to propagate product knowledge, support solutions for key deals, and directly engage with teams who are not meeting product targets to agree remedial actions and/or remove roadblocks -
Seek out Partnerships and New Channels
identify third party service providers, fintechs, digital platforms, ecosystems, and emerging channels (where relevant in your local market) that can either support or drive volumes in your products or act as a future source of new business or competitive advantage through bundling of capabilities. Evaluate commercial models and prospects of partnering, investing, or buying in capabilities and present investment or partnering opportunities to the central product teams for validation. Establish partnerships for approved projects including commercial terms and service levels and manage ongoing performance -
Optimise Product Performanc
e constantly look for opportunities to improve the client experience and performance of your products by engaging with Operations, Service, Technology, Risk, Legal and Compliance to identify opportunities for continuous improvement in all aspects of product performance. Work with partners to digitise delivery channels and automate processes wherever possible. Regularly review pricing strategies and market positioning to maximise financial and volume performance as well as product cross-sell opportunities. Identify opportunities to refresh the product strategy, enhance products or focus more attention or resources on underperforming products. Retire products that have limited revenues and growth opportunity. Monitor revenues, costs, volumes, pricing, turnaround times and efficiency to ensure your products are performing as expected and take remedial action to address underperformance. Engage in industry advocacy and submissions. - Exploring alternatives to conventional approaches and solutions when designing new products and processes, e.g., digital first mindset, encouraging buy vs build to speed delivery, partner with disruptors to access new markets, etc.
- Helping key partners like Operations and Technology understand how they can help to deliver a better and more profitable product offering by reengineering and digitising back-office processes to deliver service and product improvements
- Leveraging a strong knowledge of regulatory constraints and requirements to ensure products operate within acceptable risk parameters.
