Product Manager - Private Banking

Company: A client of Duocorn HR. The client is a leading Bank in Oman.

Designation: Product Manager- Private Banking.

Job Location: Muscat, Oman.

Salary: Best in the Industry.

Qualification:

- Professional/Post Graduate in Finance, Accounting or related discipline.

Experience:

- Atleast 5-7 years of Product Management Experience (Product Development, Non-sales) in Investment/ Private banking for high net-worth and ultra high net-worth clients.

- Experience in Investment advisory/research, will be an added advantage.

- Experience in identifying new and emerging trends in the investment markets; develop and maintain apt propositions for the UHNW/HNW clients.

Main role:

- Should be able to work individually; to ideate structure/ select ideal investment solutions for UHNW/HNW clients.

- Should be able to support the Sales Team to retain and help increase the business-contribution from the clients, by providing personalized services and a range of investment, wealth protection, deposit and loan products addressing specific banking, investment and advisory needs of the Ultra High net worth (UHNW) and High net worth (HNW) clients in Oman.

The selected candidate will:

- Identify, evaluate, develop and promote new investment, protection, deposit, loan and such other regulated products and tailored propositions.

- Maintain a suite of recommendation lists.

- Support sales strategies and development.

- Support mitigation of regulatory and business risk.

- Oversee the completion of enquiries from sales and relationship managers.

Principal Responsibilities:

Origination:

- Create investment solutions for the Bank's UHNW/HNW clients based on well defined client needs and market segments, the characteristics of which reflect the attributes of such products/propositions.

- Build and grow the offering suite for Private Banking by proactively identifying and on boarding new investment ideas and by maintaining a suite of recommendation lists and products for the sales teams.

- Negotiating, finalizing and building effective revenue streams (both upfront and annuity ) for the offering suite, to generate fee income for attainment of business goals

- Act as subject matter expert, provide product knowledge and support to the sales team, raising awareness and understanding of the proposition and new product launches

- Work with clients and RMs to structure optimum investment solutions within bank's regulatory framework and as per client's risk appetite.

Structuring and Documentation:

- Interpret financial data, financial condition and level of risk related to various types of investment products.

- Conduct effective and detailed due diligence on various investment products as well as product providers with a view to arrive at solutions that mitigate regulatory and business risks associated with any offering of the products of the Bank, as per internal processes and guidelines.

- Ensuring all product related documentation as per process and introducing checks /controls if required.

Monitoring and review :

- Regular reviews of client portfolios and informing relationship managers / clients of any portfolio re-allocation to be done, in case of changing market conditions

- Regular interaction with market experts to be updated on performance of past products and prevailing market conditions.

- Providing regular product updates, strategic and tactical product recommendations and actionable intelligence to all relevant product stakeholders.

- Provide analytical support for generating required product/ client reports from Wealth Management system.

Information and reporting:

- Provide portfolio analysis and support regulatory reporting as needed.

- Identify & implement opportunities for improved business operations, partnerships and client satisfaction.

- Contribute to the development of plans, processes, systems and procedures to improve the overall functioning of the unit.