Product Analyst - Banking Products

STRATEGIC INTENT

Play a key role in ensuring that the Retail Bank deposits and insurance product portfolio delivers to both our customers' needs and Citibank's strategic goals, by managing ongoing pricing and process/product improvement actions.

ACCOUNTABILITIES
• Manage ongoing/day to day product management/pricing decisions/exceptions/complaints and implement enhancements to improve process and in line with business direction.
• Undertake ongoing benchmarking competitor product features, recommend and implement suitable changes to remain best in class and retain Citibank's strategic market positioning.
• Responsible for ongoing competitor analysis of pricing and inform business and sales of proposed actions.
• Manage operational elements efficiently such as process improvements in account opening, funding, product functionality,, interest rate updates etc.
• Research, recommend and implement ongoing product optimisation, features and fee rationalisation including any product documentation updates/changes etc.)
• Ensure Product Terms and Conditions are periodically updated and reconcile with Policy and Procedures and key product management processes are in line with our Risk Appetite and Control framework.
• Form strong, trusting and successful relationships with key stakeholders such as Marketing, Credit Operations, Citiphone, Risk, Product Delivery, Legal, Compliance and any external relationships with partners and vendors.
• Work and deliver on any other Projects (as needed) and activities, that align to key strategic priorities.
• Coordinate with our insurance partners to ensure reporting, claims, complaints, projects are managed timely and accurately.
• Prepare the monthly insurance governance presentation and coordinate the monthly insurance governance meeting.
• Prepare and distribute all insurance MIS locally and to region.
• Work with our insurers to review their annual performance and prepare a report for regional insurance team in a timely and accurate manner.
• Ensure all regulatory actions timely to ensure compliance of the insurance product.
• Manage activities pertaining to assigned portfolio regarding policy, regulatory changes, client communication that impacts Retail Bank;

COMPETENCIES REQUIRED
• Degree (or similar) qualified in a commerce (finance/accounting/business) or related area of study
• Experienced within Financial Services, preferably within the Consumer/Retail Banking environment (preferably the deposits market)
• Ability to multi-task and demonstrate agility when faced with conflicting priorities/objectives of business and cross-department networks
• Analysis and Decision Making - Identify/understand issues, problems and opportunities and develop appropriate solutions. Make decisions based on cost benefit analysis and an understanding of B/S, P&L and resource impact.
• Business Focus - Demonstrate understanding of the business and its customers. Consistently look for opportunities to improve expense management and business performance.
• Build effective working relationships - Develop strong cross department/divisional networks, use collaborative relationships to facilitate and influence the accomplishment of business goals.
• Communicates Effectively - Communicate clearly and concisely, with impact and credibility using appropriate language, style and terminology
• Leads change and Innovation - Act as a champion and role model for innovation and change.
• Operational Execution - Stay up to date with key business drivers. Be personally accountable for own performance and act with a sense of urgency to address issues and take advantage of opportunities.

KEY BUSINESS RELATIONSHIPS
• Broader Deposits Product team.
• Frequent interaction with (and need to influence) internal stakeholders including department peers, as well as the Sales, Operational and Delivery Units.

The Product Manager is an intermediate management level position responsible for managing a broad range of Product Management employees, setting strategy and providing direction, leadership and budgetary management, etc. Additionally, this role will be responsible for the development of product plans, strategies, and tactics while coordinating product lines through product life-cycles in coordination with the broader Product Management team. The overall objective of this role is to coordinate the promotion of products to develop new markets, increase share of market and obtain competitive position.

Responsibilities:

• Partner with Product Managers to implement product strategy and ensure management goals are achieved though collaboration with partners to execute a differentiated and client-centric product vision and strategy
• Partner with senior Product Managers to implement strategic roadmap, program development, launch, and marketing to gain maximum benefit for each product as well as research market dynamics, products, and competitive climate to optimize strategies to grow and retain asset accounts and balances
• Assist in day-to-day product management for core products, including product delivery, client experience, and client communications as well as help the team prioritize, negotiate, and remove obstacles to achieve business results
• Execute the client value propositions, positioning, segmentation, pricing, targeting, channel strategies, and competitive differentiation to achieve preferred status as partner to Citi clients
• Conduct client and competitor market research to aid in the development of product innovation roadmaps
• Execute all aspects of the program development life cycle management including market demands, technology trends, and competitive field
• Help drive innovation including working with external partners/alliances to maintain/improve product status
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.

Qualifications:

• 0-2 years of relevant experience
• Working knowledge of marketing, credit, acquisitions, product development and/or analytics
• Demonstrated problem-solving and decision-making skills
• Ability to work unsupervised and adjust priorities quickly as circumstances dictate
• Ability to work under pressure and manage deadlines or unexpected changes in expectations or requirements
• Demonstrated analytical skills
• Consistently demonstrates clear and concise written and verbal communication
• Ability to work in a team-oriented environment

Education:

• Bachelor's degree/University degree or equivalent experience

Please note that Citi has entered into an agreement with NAB to acquire its consumer bank in Australia which includes residential mortgages, deposits, and unsecured lending.

The sale is expected to complete in May 2022.

As this is a role to work in Citi's consumer bank, the successful candidate will initially be employed by Citi, but on sale completion, their employment will transfer to a NAB (or) a new entity that will employ Citi's consumer bank employees, prior to their transfer to NAB.

Job Family Group:
Product Management and Development

Job Family:
Product Management

Time Type:
Full time

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