Head of Products

Housing Finance Bank is seeking a Head of Products who will be accountable for leading the thought process and coordinating cross-functional efforts for innovating and developing new products that are in line with HFB’s business strategy and market positioning. In coordination with relevant departments, he/she will be responsible for managing the strategic and tactical aspects of the existing product portfolio, including monitoring risks and reporting on product performance.

Department: Products
Reports To: Executive Director / Chief Business Officer
Grade: HFB 7B

Direct Reports:

Product Analyst – Assets

Product Analyst – Liabilities

Business Development Manager

Interacts/Interfaces With:
Internal:

EXCO

Head of Key Business Segments

Relationship Managers

External:

Regulatory Bodies (e.g., Bank of Uganda)

Customers

• Lead the thought process and coordinate efforts to develop products that align with HFB’s business strategy and market positioning.

• Work with business segment heads to identify and define target market segments, market requirements, key business strategies, and the competitive environment for HFB’s niche portfolio.

• Manage the Bank’s product development cycle by chairing the Products Innovation Committee (PIC) and recommending approvals from Management Assets & Liabilities Committee (MALCO) and Board Assets & Liabilities Committee (BALCO) for all new, reviewed, and recalled bank products.

• Monitor market trends and information (acquisitions, pricing changes, new products and features) to identify opportunities for developing or restructuring products.

• Lead and coordinate market and product research using internal or external resources to support internal product review, improvement, and innovation.

• Champion new and modified business products from concept to implementation across all business lines for the target niche.

• Monitor the strategic aspects of the existing product portfolio, including performance tracking, competitor analysis, and recommending strategies and tactics to sustain product performance.

• Work with business segments and the Marketing & Communications teams to prepare and execute local product launches, reporting on market size, uptake, share, and expected budgeted sales.

• Propose practical solutions based on research and an understanding of the latest developments in the banking industry and broader economic trends.

• Develop mechanisms and tools for continuously assessing customer needs and requirements for defined segments, and lead the development of proactive strategies to address them.

• Contribute to the formulation, implementation, and review of the Bank’s strategy.

• Train and develop a competent team of Segment Product Managers and manage their daily performance.

• Responsible for the Product Research & Product Development budget.

• A Business Degree in Banking, Commerce, Business Administration, Economics, Statistics, Management, or any relevant field.

• Possession of a certified banking qualification or a Master’s Degree in a relevant field is an added advantage.

• Relevant practical training in banking.

• Relevant practical training in research or product development.

• Minimum of 7 years’ experience in a banking environment, with at least 4 years in Sales, Marketing, or Product Development.

• Highly self-directed individual with independent judgment.

• Strong critical thinking, analytical, attention to detail, and problem-solving skills.

• Knowledge of commonly used concepts, practices, and procedures within product research and development.

• In-depth understanding of banking product features, pricing, benefits, positioning, design, and promotions.

• Broad understanding of banking industry value drivers and trends.

• Excellent verbal and written communication skills.

• Must be a person of impeccable integrity.