Product Manager - London, United Kingdom - eFinancialCareers

eFinancialCareers

Verified Company

London, United Kingdom

1 week ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

Description:

This piece of work is all tied to Consumer Duty which is a huge industry challenge. In essence, Consumer Duty is a regulation that all banking institutions need to be compliant with. It is the biggest shake up in the way the banks deal with customers formany years.

The regulation covers 4 key pillars:

Product how the bank approves new products, takes into account vulnerability, how they test it and how they distribute it through the right channels
Consumer's understanding of the product and the bank's understanding of the consumer's understanding of the product

Support

Making sure the bank service it

Pricing

How the bank price it and value it

In short, to ensure the bank is compliant they need to go through every product they have and go through an assessment - things like, do we price the product right, do we offer right channels, do we ensure customers can come out of product, how do we dealwith vulnerable customers.

The initial deadline is July for all live products. There will then be a back book exercise for all other products with a deadline of 2024.

The ask for our consultants is to take responsibility for the end to end delivery of theproject scope (Consumer Duty within Commercial & Institutional RFB) within time, cost, quality and management of the associated risk profile.

Experience Required:

Product Managers with Commercial Banking exp, ideally Transactional Banking (current accounts, payments, cards, liquidity, cash products).
Product roadmap, product strategy, customer journey experience
Any reg experience would be advantageous given the nature of Consumer Duty.
Will consider Retail banking exp. providing product suite is one they use in commercial banking e.g. cards, current accounts, payments
Role to start ASAP, but can wait 6 weeks

Skills: