About the job HBD - Lend / Product dev
Responsibilities:
The Head of Business Design (Hold Funds) will have the primary responsibility to build the Accounts and Deposit Solutions for the different Segments. This will require the position holder to:
- Work on Solutions that will:
expand Netbank’s Account-as-a-Service model
increase the bank’s deposits
- Do market research, sizing, and inquiry to:
Understand the needs and requirements for accounts from various segments
gauge the potential adoption and profitability of the product
- Work with the Segment Leaders to:
Define the components of the solution that fits the needs and requirements of local and international payment companies
Define the commercial strategy that is competitive but profitable for the bank
Define the repeatable sales process and Go-To-Market (GTM) strategy
Document the overall strategy that the Segment Leaders can follow and execute (the Solution Assessment)
Cascade the strategy to Segment Leaders for execution
Provide guidance to Segment Leaders and monitor the execution
Update the strategy, up to the point of MVP/Pilot, based on market shifts, competitors, client feedback, etc.
As with all Heads of Business Design, the position holder will need to:
- Understand and size the segment
Do market research
Deeply understand client needs in the segment.
Identify solutions for clients through contextual inquiries and ideation
Understand the competition and identify ways that Netbank can provide a product significantly better than the competition
- Design the product to achieve this differentiation, including ensuring the technical system capabilities can meet client requirements
Gather feedback from users of the solution to identify points for improvement and potential solution iterations.
Understand the financial automation needs, execution pain-points, and process gaps of a specific segment to identify solutioning opportunities using our banking products and services.
Identify the costs and partnerships needed to build and operate the products and services that will make up the solution for a certain segment use case.
Identify the operational capacity needed to build and operate the products and services that will make up the solution.
Identify the regulations and risks involved
Design a commercial model for the solution that clients will be willing to take and will cover the costs of the underlying products
Ensure scalability
- Guide the execution of the overall strategy with the Segment Leaders
Build the target list and define the approach
- Define the go to market strategy, which will include:
Direct sales
Outbound sales campaigns
Promotion of inbound sales
Conferences and events
Develop sales material
Guide commercial negotiations, get internal approvals for non-standard pricing
Identify additional iterations to the existing solution
Monitor the implementation of the solution for clients. Achieve a rapid sales process.
Monitor and validate the profitability, traction, and performance of the solution.
The position will be based in Manila, but remote working is possible. It will initially report to the founders.
The Head of Business Design (Hold Funds) is responsible for identifying, piloting, and expanding new partnerships within the account and deposit products. These solution types are likely to include:
White-labeled accounts to be embedded as operating wallets in the apps of Non-EMIs
White-labeled accounts (Instant-access and Term) to be embedded as interest-bearing accounts in the apps of partners
Safeguarded accounts for EMIs
The Head of Business Design (Hold Funds) is responsible for:
Identifying priority Account-as-a-Service programs and components, with senior management. Confirming the requirements / demand.
Review alternative products for Netbank.
Understand the business rationale, underlying economics, and sales approach for the product.
Evaluate in the solution assessment template.
Regulations surrounding this kind of solution.
Security components of the solution (e.g. MFA via OAuth2.0).
Identifying pilot partners. Presenting the approach to them.
Select a long-list of partners suitable for partnership with Netbank for each solution type. Understand the priorities. of these partners and create a sales plan for the partner.
Present Netbank’s approach to the partners and identify ways to implement.
Conduct commercial negotiations with the partners.
Design the different Account-as-a-Service programs.
Understand the product requirements of different business models.
Liaise with delivery managers to understand existing system capabilities.
Define the investment requirements.
Determine templated pricing strategies.
Design the go to market strategy.
Define the long-list of potential partners.
Define the best way to sell to these partners.
Create promotional material.
Define processes within a segment team who will expand the range of partners.
Hand-over to the segment leaders within the Partner-facing business units sales team.
Metrics to monitor
Number of Clients onboarded to a Solution: The solution/s made must be relevant to the target clients and segments and compelling enough to onboard new clients or convert clients from other providers.
Solution Usage: The solution must be reliable enough to be used and trusted by clients with the majority of their business.
Solution Profitability: The solution/s made must be able to cover the underlying costs and generate revenue for the bank.
Required skills and qualifications
Filipino national
Has experience as a Product Owner or similar role. Preferably with 2-3 years of experience in Product Management.
Experience in delivering research, contextual, and client-focused solutions.
Familiarity with basic Banking Services.
Ability to work with cross-functional teams to deliver on a common goal and capable of effectively communicating with internal units to relay strategy (for clients and solutions) or escalate issues and concerns.
Familiarity with the different stages/aspects of the product development and management is preferred (Product, Commercials, Sales, Marketing, Tech, Operations, Support).
Familiarity with the Banking-As-A-Service solution model is preferred.
Familiarity with how Application Programming Interfaces (APIs) work is preferred.
Familiarity with the Agile/SCRUM Methodology is preferred.
Highly meticulous and detail oriented