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Job Title:  Product Analyst

Organisation: I&M Bank Uganda

Duty Station: Kampala, Uganda

Reports to: Manager Product Management

About Organisation:

I&M Bank is a leading banking and insurance group in Eastern Africa with a presence in Kenya, Mauritius, Rwanda, Tanzania and Uganda. I&M Bank Uganda is a commercial bank headquartered at Kampala Road plot 6/6A with a growing regional presence.  The Bank offers a wide range of commercial banking and financial products and services, and prides itself on introducing innovative products and services based on the needs of its customers.

Job Summary:  To actively contribute to the development, execution, and enhancement of asset and liability products, digital banking offerings, and product strategies. This role involves driving the implementation of new products, fostering innovation in the product lifecycle, and ensuring performance tracking aligns with business goals. The incumbent will also lead market research efforts to assess customer needs, monitor market trends, and optimize product offerings in line with the regulatory framework, ultimately driving product adoption and supporting business growth.

Key Duties and Responsibilities:

New Product Development and Implementation

• Lead the development and rollout of innovative asset and liability products (e.g., loans, deposits, and savings products) to meet customer needs and support business growth.
• Implement product development procedures across all relevant business units, ensuring alignment with digital transformation goals.
• Conduct periodic reviews of underperforming products and recommend enhancements or discontinuation to drive optimal product utilization.
• Serve as the key point of contact for system enhancements related to both new and existing products, ensuring smooth integration and adoption.
• Address product-related issues in a timely manner, ensuring alignment with organizational goals and customer expectations.
• Conduct business risk assessments, implement mitigation controls, and ensure compliance with regulatory standards in all product offerings.
• Innovate new digital banking solutions and asset-liability management processes that meet customer needs and improve operational efficiency.
• Ensure compliance with governance, risk, control, and regulatory requirements, while keeping staff informed of expectations.
• Oversee the implementation of any new regulatory or group requirements to maintain product compliance.

Product Enrichment and Digital Product Initiatives

• Manage the ongoing development and enrichment of asset and liability products and digital banking solutions, incorporating customer feedback and competitive intelligence.
• Implement product initiatives that address emerging customer needs, leveraging market research and digital transformation opportunities.
• Collaborate with internal teams to manage and communicate product changes to customers, ensuring transparency and effective messaging.
• Drive product innovation through continuous monitoring of competitors’ products and market trends, ensuring the bank remains competitive in digital and traditional product offerings.
• Ensure that all product changes adhere to legal, regulatory, and internal governance requirements.

Market Research and Customer Insights

• Conduct regular market research to identify customer preferences, market trends, and competitor strategies, ensuring products are aligned with the latest developments in the banking sector.
• Analyse customer behaviour, feedback, and usage data to refine and enhance product offerings, driving increased engagement and satisfaction.
• Provide insights and recommendations based on market research to inform product development and strategy.

Tracking Product KPIs and Performance

• Regularly track and report on the performance of asset and liability products, digital solutions, and new product offerings, preparing detailed reports on revenues, customer adoption, and product profitability.
• Manage key product performance metrics (KPIs), focusing on revenue generation, cost control, and product usage.
• Take a proactive approach to identifying opportunities for improving product performance and usage across customer segments.
• Lead product performance reviews and collaborate with business teams to implement corrective actions as necessary.
• Ensure all products meet agreed service level agreements (SLAs) and customer expectations.

Training, Coaching, and Continuous Improvement

• Develop and implement training programs for branch and sales teams to improve product knowledge and drive better customer engagement.
• Collaborate with cross-functional teams to continuously review and enhance the product development process, ensuring streamlined and efficient operations.
• Lead initiatives to improve product design, user experience, and overall customer satisfaction.

Any Other Responsibility

• Undertake any other responsibilities as assigned by the bank’s management, in alignment with the bank’s strategic goals and business needs.

Qualifications, Skills and Experience:  

Minimum Education Qualification:

• University graduate in a business, finance, or IT-related discipline.

Work Experience:

• Minimum 3 years of experience in banking, product management, or business analysis, with a focus on asset-liability management, digital banking, and market research.

Required Competencies (Knowledge, Skills & Abilities):

• Strong understanding of asset and liability products (e.g., loans, deposits) and digital product offerings (e.g., mobile banking, digital wallets).
• Proven experience in product development, sales, and operations in the financial services sector.
• Familiarity with market research techniques and customer insights gathering.
• Strong project management skills and stakeholder management experience.
• Expertise in product management processes, including business case development, product lifecycle management, and performance tracking.
• Solid understanding of regulatory, compliance, and risk management frameworks in banking.
• Strong analytical skills, with proficiency in business analysis tools such as advanced Excel, MS Access, and other reporting systems.
• Excellent written, verbal communication, and presentation skills.
• Team-oriented, with the ability to inspire, motivate, and educate others.
• Ability to translate strategic business goals into actionable product initiatives.
• Experience with financial systems and user requirements for digital banking products.
• Knowledge of performance management techniques and their application in product development.
• A proactive, self-motivated approach with strong interpersonal skills.
• Experience in the East African market or similar regions is an added advantage.

How to Apply:

All suitably qualified and interested applicants should apply online at the link below.

Click Here

Deadline: 17th January 2025 by 5pm

Note: Only shortlisted candidates will be contacted

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