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Job Purpose
To support and assist Managers and Head, Product Development on all aspects of product and program structuring which includes development, enhancement, packaging, review and reporting of the retail financing products.
Job Requirements
- Product Development & Program Structuring
- Lead the development of new business products and the enhancement of existing product offering, ensuring the products aligned with current market demands, fully comply with Shariah requirements, adhere to internal end-to-end product origination, review and approval processes.
- Formulate product strategies and structure innovative or enhanced product solutions aimed at expanding market reach, strengthening competitive positioning, and addressing evolving customer need across diverse market segments.
- Conduct product proposal briefing with all relevant internal stakeholders ensuring clarity on product features, processes, risks and implementation requirements.
- Gather and analyse all feedback obtained during the proposal briefing, and address all issues highlighted by the internal stakeholders and business owner.
- Prepare comprehensive Product Program documents or proposal papers for new/enhanced products for submission to the Shariah Committee, Group Management Committee Product (GMC Product), Group Management Credit Committee (GMCC), Group Board Risk Management
Committee (GBRMC), AIBB/ABB Board of Directors, BNM and other regulatory authorities where required, to obtain all necessary approvals.
- Present the product proposal and key recommendations to the governance Committees such as the Shariah Committee and GMC Product to support informed decision-making.
- Lead and coordinate all activities related to product launching, including preparation of launch materials, stakeholder engagement, internal readiness assessments, and alignment with marketing, operations, and distribution teams to ensure smooth and timely roll-out.
- Monitor the full lifecycle of products, from development through post-launch performance, ensuring continuous compliance with the latest internal policies, external regulatory requirements and alignment with evolving business strategies and market conditions.
- Market Intelligence
- Collaborate closely with the Product Management Unit to conduct comprehensive market intelligence and benchmarking on product features, industry best practices, competitor offerings and emerging trends. This is to ensure the products remain competitive, relevant and aligned with customers expectations.
- Analyse market data and insights to assess product positioning, identify opportunities for differentiation, and recommend enhancements that elevate product value propositions.
- Documentation
- Prepare, update, and maintain all product-related documentation, including Product Manuals, Quick Product Guide (QPG), Product Disclosure Sheets (PDS) and any other required documents, ensuring accuracy, compliance, and alignment with regulatory and Shariah requirements.
- Ensure the Bank's website consistently reflects accurate, complete, and current product information, working closely with the relevant teams to update content promptly following any product changes, enhancements, or regulatory updates.
- System
- Prepare detailed User Specification Forms (USF) to outline system requirements for newly developed or enhanced products, ensuring clarity for IT development and implementation.
- Liaise closely with the BES/IT team, providing guidance, clarification, and support on product specifications, system behaviour, and process flows to facilitate smooth system development.
- Verify and validate system development outcomes for new products or enhancements, ensuring that system functionalities operate as intended and meet business, operational, and Shariah requirements.
- General
- Undertake and complete any ad-hoc tasks or assignments as directed by the immediate superior, Head of Department, or Management, ensuring timely and quality delivery of responsibilities in support of departmental and organisational objectives.
Qualifications
- Possess recognized bachelor's degree, Post Graduate Diploma, Professional degrees in Islamic Finance, Banking, Management or other relevant fields.
- At least 7 years working experience in the banking industry with minimum of 5-year involvement in product development.
