Job Description
Purpose of the role
To manage and drive the innovation strategy to meet customer needs and ensure the bank's long-term success and competitive edge.
Accountabilities
- Execution of market research to understand customer needs, pain points, and emerging trends to support the analysis of profitability, market size and positioning for current products compared to existing offerings, and to identify opportunities for diversification to gain a competitive advantage.
- Collaboration with stakeholders across departments and teams including marketing, sales, technology, engineers, designers etc to generate innovative and feasible product ideas and prototypes for testing aligned with customer needs and strategic goals.
- Development of concepts and specifications which define features, functionalities, target market, user interface, technical specifications and potential revenue models of new products.
- Evaluation of the technical feasibility, legal compliance, and potential risks associated with the development and launch of the new product.
- Monitoring of market trends and analysis feedback from internal employees and target customers through prototypes, user testing sessions, and beta programs to identify areas for improvement to refine the product before launch.
- Management of comprehensive launch plans and technical deployments for products that establish rollout timelines, marketing strategies, training initiatives and communication channels to promote the launch new products effectively.
- Monitoring of key metrics such as adoption rates, usage patterns, customer satisfaction, and revenue generation to assess the product's performance against set goals.
Vice President Expectations
- To contribute or set strategy, drive requirements and make recommendations for change. Plan resources, budgets, and policies; manage and maintain policies/ processes; deliver continuous improvements and escalate breaches of policies/procedures..
- If managing a team, they
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