The incumbent is primarily responsible for developing QNB First products and managing their implementation through the respective sales channels (CREs). The responsibilities for the assigned products include assisting sales channels achieving the approved volume, revenue and sales targets associated with the products assigned. The incumbent will lead the marketing activities for QNB products and services for the customers who fall under the criteria of a QNB First account and encourage the existing ones to increase their business with the Group.
Develop and implement strategies in conjunction with the Global Head, QNB First and Head of Product Development by developing competitive schemes to achieve the agreed budget, sales and revenue targets for the assigned products.
Analyze portfolio behavior in order to determine segment product preferences to develop new products / enhance existing products to cater to focussed customer base to maximize market leadership in order to fulfil business objectives / achieve assigned targets, and implement effective and targeted marketing programs designed to attract additional business.
Establish sales budget for CREs for the assigned products and continuously monitor the product performance through their achievements and through delinquencies.
Provide inputs to the pricing strategies for the individual products assigned to the Global Head, QNB First and implement the approved pricing strategy.
Analyze portfolio behavior and trends (including competitor initiatives) to formulate retention strategies to minimize attrition and thereby help grow the QNB First portfolio.
Analyse the market for the products assigned to gauge customer preferences and ensure that products launched are in line with customer needs.
Build and maintain strong and effective relationship with all other related units to achieve the Group s goals/ objectives with respect to QNB First products.
Build and maintain strong and effective business relationships with the bank partners, with support from Corporate Banking for certain companies, to support product activities.
Provide inputs to the Global Head, QNB First in the preparation of Service Level Agreements (SLAs) with internal departments/ units which reflect the need for priority servicing of QNB First customer requests and will accordingly help increase external customer satisfaction.
Review, refine, exit, develop and launch new products to maximize market share, revenues and profits in QNB First segment.
Ensure processes are in place for launch of new products, including the smooth launch of the same, and that the same are in compliance with the applicable internal policies/ procedures and external regulations, including but not limited to pertinent legal requirements, as applicable.
Management of the assigned products in terms of marketing, roll-out, sales and overall performance.
Liaise on regular basis with the Business & Product Intelligence and Business Performance units within the Retail Sales & Marketing Department to obtain and evaluate information regarding customer perceptions/ preferences, potential gaps in product service/ offerings and performance statistics. Identify product needs hitherto unidentified based on such evaluation, and strive to translate the same into a tangible product offering.
Compile and present relevant MIS on periodic basis for the Global Head, QNB First and the GM Retail Banking, as and when required.
Respect the authority delegated by the Global Head, QNB First and Head of Product Development
Ensure for the products assigned that the information disclosed on the company web-site, product brochures, annual reports and in all other means of communication is timely, accurate and complete.
Hold meetings with CROs and assess their performance on a regular basis.
Possess a superior knowledge of the products assigned and the related risks.
Train all front-end and sales channels (CROs) about the features/ characteristics of the products developed/ enhanced to promote product awareness amongst sales staff.
Identify related areas for professional development of self and CROs.
Ensure high standards of data confidentiality to safeguard commercially sensitive information.
5 years banking experience in product development, of which at least 3 years in a supervisory role in a major banking institution.
Bachelor s degree.
MBA in Sales & Marketing (preferred).
Required Special Skills:
Good oral and written communication skills in English and Arabic (preferred).
Ability to make decisions and follow through with initiatives
Ability to get his idea across to a diverse/ disparate audience (acceptance) and get them to follow the same (implementation).