Senior Product Manager - Savings Products

<h2>Product Strategy &amp; Ownership</h2><ul>
<li>Own the end-to-end strategy for Renmoney’s savings products, including:</li>
<ul>
<li>Everyday savings accounts</li>
<li>Fixed or term deposits</li>
<li>Structured and goal-based savings products</li>
<li>Future diaspora savings offerings</li>
</ul>
<li>Translate Renmoney’s 2025–2027 long-term business strategy into a clear product roadmap for savings.</li>
<li>Ensure savings products support:</li>
<ul>
<li>Deposit growth</li>
<li>Lower funding costs</li>
<li>Healthy balance between short-term and long-term funds</li>
</ul>
<li>Define product value propositions for different customer groups such as individual retail customers, small and medium-sized businesses, and Nigerians in the diaspora.</li>
</ul><h2>Balance Sheet &amp; Commercial Performance</h2><ul>
<li>Work closely with the Finance and Treasury teams to:</li>
<ul>
<li>Improve the mix between on-demand savings (money customers can withdraw anytime) and fixed deposits (money locked for a specific period)</li>
<li>Reduce the Cost of Funds (COF), which means how much the bank pays customers for deposits</li>
<li>Model how pricing, interest rates, and savings tenors affect profitability and liquidity</li>
</ul>
<li>Own key savings performance metrics, including:</li>
<ul>
<li>Total deposits and monthly net inflows</li>
<li>Average balance per customer</li>
<li>Cost of Funds (interest paid on deposits)</li>
<li>Customer retention and churn (how many customers stay or leave)</li>
</ul>
</ul><h2>Execution &amp; Delivery</h2><ul>
<li>Lead cross-functional execution with:</li>
<ul>
<li>Engineering (software development)</li>
<li>Design (user experience and interface)</li>
<li>Risk Management</li>
<li>Compliance (regulatory adherence)</li>
<li>Operations and Customer Support</li>
<li>Marketing and Growth teams</li>
</ul>
<li>Write Product Requirement Documents (PRDs) that clearly describe what is being built and why.</li>
<li>Prioritize features and initiatives based on customer value, risk, effort, and business impact.</li>
<li>Ensure savings features are reliable, scalable, compliant with regulations, and easy for customers to use.</li>
</ul><h2>Governance, Risk &amp; Compliance</h2><ul>
<li>Represent savings products in the Product Governance Council (PGC), which is the internal committee that reviews, approves, and governs all product changes.</li>
<li>Participate in Asset and Liability Committee (ALCO) sessions, where senior leaders manage:</li>
<ul>
<li>Liquidity (availability of cash)</li>
<li>Interest rate risk</li>
<li>Funding strategy</li>
</ul>
<li>Ensure savings products comply with:</li>
<ul>
<li>Central Bank of Nigeria (CBN) regulations</li>
<li>Nigeria Data Protection Regulation (NDPR), which governs customer data privacy</li>
<li>Internal audit, risk, and control frameworks</li>
</ul>
<li>Proactively identify risks, trade-offs, and dependencies before they become issues.</li>
</ul><h2>Customer Experience &amp; Growth</h2><ul>
<li>Improve savings adoption through:</li>
<ul>
<li>Simple and clear onboarding</li>
<li>Smooth funding and withdrawal experiences</li>
<li>Transparent communication of interest, penalties, and terms</li>
</ul>
<li>Use savings as a foundation to cross-sell other products such as loans and payments.</li>
<li>Work with the Analytics team to understand customer behavior and lifetime value.</li>
</ul><h2>Requirements</h2><ul>
<li>6–10+ years of Product Management experience</li>
<li>Direct experience with banking, savings, or deposit products</li>
<li>Experience working in regulated financial institutions such as banks, microfinance banks, or fintechs</li>
<li>Proven ability to own products that impact revenue and the balance sheet</li>
<li>Experience working closely with Finance, Risk, and Compliance teams</li>
</ul><h2>Skills &amp; Competencies</h2><ul>
<li>Strong understanding of financial concepts such as interest rates, liquidity, and funding costs</li>
<li>Data-driven decision-making combined with sound professional judgment</li>
<li>Ability to operate at both strategic and execution levels</li>
<li>Strong written and verbal communication skills, including with executive leadership</li>
<li>High sense of ownership and accountability</li>
</ul><h2>Success Metrics (First 12–18 Months)</h2><ul>
<li>Consistent growth in customer deposits</li>
<li>Improved funding efficiency through a better deposit mix</li>
<li>Strong adoption and retention of savings products</li>
<li>On-time delivery of roadmap initiatives that meet regulatory and audit requirements</li>
<li>Clear, trusted product leadership in executive and governance forums</li>
</ul><h2>Nice-to-Have</h2><ul>
<li>Experience with diaspora banking or international savings products</li>
<li>Exposure to senior financial decision-making forums such as ALCO</li>
<li>Experience in fast-growing fintech or digital banking environments</li>
<li>Familiarity with analytics, experimentation, and customer insight tools</li>
</ul><h2>Key Stakeholders</h2><ul>
<li>Head of Product</li>
<li>Finance and Treasury teams</li>
<li>Risk Management and Compliance teams</li>
<li>Engineering and Design teams</li>
<li>Marketing and Growth teams</li>
<li>Executive Management, including:</li>
<ul>
<li>Chief Executive Officer (CEO)</li>
<li>Deputy Chief Executive Officer</li>
<li>Asset and Liability Committee (ALCO)</li>
<li>Product Governance Council (PGC)</li>
</ul>
</ul><h2>Benefits</h2><h2>Why Join Renmoney</h2><ul>
<li>Opportunity to shape the savings foundation of a modern Nigerian digital bank</li>
<li>High visibility and direct impact on business performance</li>
<li>Strong governance, leadership support, and product culture</li>
<li>A role that combines product leadership, financial performance, and customer impact</li>
</ul>