Profession banking products manager

Banking products managers study the market of banking products and adapt the existing ones to the characteristics of this evolution or create new products to suit clients needs. They monitor and evaluate the performance indicators of these products and suggest improvements. Banking products managers assist with the sales and marketing strategy of the bank.

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Personality Type

• Enterprising / Conventional

Knowledge

• Financial analysis

  The process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financial decisions.

• Sales strategies

  The principles concerning customer behaviour and target markets with the aim of promotion and sales of a product or a service.

• Financial statements

  The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.

• Marketing management

  The academic discipline and function in an organisation which focuses on the market research, market development, and the creation of marketing campaigns to raise awareness on the company's services and products.

• Corporate social responsibility

  The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.

• Economics

  Economic principles and practices, financial and commodity markets, banking and the analysis of financial data.

• Financial management

  The field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value increase of corporations due to managerial decision-making.

• Financial products

  The different types of instruments that apply to the management of cash flow that are available on the market, such as shares, bonds, options or funds.

• Market research

  The processes, techniques, and purposes comprised in the first step for developing marketing strategies such as the collection of information about customers and the definition of segments and targets.

• Marketing principles

  The principles of managing the relationship between consumers and products or services for the purpose of increasing sales and improving advertising techniques.

Skills

• Develop product policies

  Create product policies oriented around customers.

• Enforce financial policies

  Read, understand, and enforce the abidance of the financial policies of the company in regards with all the fiscal and accounting proceedings of the organisation.

• Analyse financial performance of a company

  Based on accounts, records, financial statements and external information of the market, analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit.

• Follow company standards

  Lead and manage according to the organisation's code of conduct.

• Perform market research

  Gather, assess and represent data about target market and customers in order to facilitate strategic development and feasibility studies. Identify market trends.

• Draw conclusions from market research results

  Analyse, draw conclusions and present major observations from the results of market research. Suggest on potential markets, prices, target groups, or investments.

• Analyse market financial trends

  Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

• Plan health and safety procedures

  Set up procedures for maintaining and improving health and safety in the workplace.

• Develop product design

  Convert market requirements into product design and development.

• Strive for company growth

  Develop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else's. Strive with actions to increase revenues and positive cash flows.

• Define measurable marketing objectives

  Outline the measurable performance indicators of the marketing plan such as market share, customer value, brand awareness, and sales revenues. Follow up on the progress of these indicators during the development of the marketing plan.

• Prepare market research reports

  Report on the outcomes of the market research, main observations and outcomes, and notes helpful for analysing the information.

• Plan product management

  Manage the scheduling of procedures which aim to maximise sales objectives, such as forecasting market trends, product placement, and sales planning.

• Coordinate marketing plan actions

  Manage the overview of the marketing actions such as the marketing planning, internal financial resource granting, advertising materials, implementation, control, and communication efforts.

• Liaise with managers

  Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.

• Create a financial plan

  Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.

• Advise on financial matters

  Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.

Optional knowledge and skills

Source: Sisyphus ODB