Our Government client based in London are currently recruiting for a Product Manager based in London.
To manage - as designated by the Senior Product Manager - individual products from the retail product portfolio strategically and tactically, making reasoned recommendations in terms of pricing, product features, customer proposition and enhancements to help our client maintain a balanced portfolio that meets the targets agreed with HM Treasury (HMT) and evolving consumer needs.
Pricing
- Ownership and management of the allocated product portfolio to achieve the agreed annual Net Financing (NF) and Value Indicator (VI) target.
- Analyse data and insights to put forward pricing recommendations to the appropriate audience (to include Senior Product Manager, Head of Product, Retail and Pricing Committee), ensuring that pricing recommendations balance our pricing principles and achieve NF/VI targets.
- Prepare Pricing Submissions (with appropriate support) to be escalated to HMT and the Economic Secretary of the Treasury (EST) for approval.
- Analysing sales/retention/market figures and trends to maintain a deep understanding of external markets regarding pricing of equivalent products and full appreciation of sensitivities regarding how sales, retention and Value Indicator (VI) levels are impacted by price.
Product Management
- Reviewing and understanding the wider competitor/economic market and position.
- Ownership / development and management of allocated product portfolio to ensure sustainable NF for the future, including input into the product strategy review and planning process.
- Understanding of the complete product lifecycle and making recommendations for enhancements where necessary to meet with customer, business and legislative requirements using research and consumer insights.
- Recommendations of enhancements ensuring alignment with the client strategy and Service Delivery Measure (SDM) targets to meet customer needs.
- Product Owner/Business Manager of key projects (i.e. product enhancements and new product development): Own business decisions and outcomes for assigned projects and initiatives; influencing decisions on project delivery by representing projects and the team at relevant committees and decision-making forums; leading on and liaising with key stakeholders; being responsible for making key business decisions, business case sign off and other key project gateways; being accountable for approval gateways (product enhancement process)
- Managing the flow of requirements from the product backlog into planning
- Working with key stakeholders/team members to break down areas into workable elements and put together in ways that support development and business users.
- Helping specify story acceptance criteria, including customer testing and witness testing.
Customer
- Developing product specific pricing strategies, ensuring that all regulatory, Treating Customers Fairly (TCF) and policy considerations have been covered in the decision making process.
- Develop a deep understanding of consumer needs / values and how these impact product design and range.
- Supporting the Senior Product Manager in product and channel sales plans and forecasts.
