Our client is an International Financial Services Institution. They are seeking to employ a Head of Product Strategy
Main Purpose of the Role
The Head of Product Strategy is responsible for the development of product strategy & marketing for one of our client’s businesses. You will be responsible for managing every stage of the product strategy lifecycle. In this role you will drive the development of coherent, focused product and marketing strategies that address requirements identified by our Market Development teams and prioritised by our Business strategy group. In doing so, this role directly aligns with our client’s strategic themes of Investing with Intent and Customer Centricity.
As the head of Product Strategy for Lending Solutions, your mission is to grow sales and advocacy of our Lending franchise through clear definition and pro-active implementation of the 4Ps (product, pricing, placement, promotion) as well as our client’s customer experience and ecosystem-led strategies. This involves managing the existing offering as well as expanding it in line with our client’s strategic growth plan.
As the conductor of our client’s product strategy efforts you will work closely with market development, product management, marketing and sales enablement colleagues.
Product strategy mandate
Ensuring that our product vision reflects customer needs, our client’s distribution model is optimal, customers are drawn to their solution efficiently and that customer experience is in line with our promise.
As head of Product Strategy for our client’s lending franchise you will own all aspects of product strategy and execution, mainly leading three areas:
To assess and rationalise new investments both in support of new and retention goals:
• With support from the business strategy team maintain knowledge of competitor landscape
- In team with business strategy, market development and regions evaluate “land and expand” opportunities and their potential impact on growth relative to costs and agreed business vision.
• In team with market development and product management, translate prioritised market needs into a high level solution design detailing unique features, technology choices as well as customer experience, integration and onboarding requirements
To define and own strategy and execution components of the annual and 3-year business plan, proactively driving our go-to-market globally:
• Design or validate the product business model and build associated economics
• Articulate upsell and cross sell potential, designing relevant most common scenarios and packaging
• Assess and select most appropriate route(s) to market, defining distribution channel types and needs
• Build product development, distribution and promotion budget needs
• Design relevant sales enablement processes (ensure contract templates reflect relevant terms)
• Communicate clear launch and releases plans creating buzz with internal and external audiences
Work with market development, customer success, partnerships and sales colleagues to ensure we collectively execute on go-to-market including:
• Market test product prototype and collect feedback iteratively
• Engage with ecosystem and build relationship with flagship clients, influencers and first adopters
• Develop relevant product-, data- and sales- partnerships
• Support initial sales cycles
• Collect on-going feedback from clients for existing solutions through Customer Success group
• Measure satisfaction and engage with Customer Success teams to build global retention strategy
As part of our client’s objectives to increase business scalability they are dedicating efforts to ensure relevant standardisation is built in their products, on-boarding and support models. As head of product strategy you will be key in helping drive this objective. In team with product, engineering and global implementation and best practices teams you will lead the identification of key standardisation aspects that, for example:
o allow our client to deliver on or to improve on our customer promise
o increase margins
o improve customer experience and optimise on-boarding and maintenance-related costs
As head of product strategy for our client’s Lending franchise you will lead their product marketing efforts. In doing so you will work closely with dedicated resources in the Banking Software marketing team, as well as be supported by the marketing team which offers both directional and execution support. In your role you will own all aspects of product marketing, including :
• product marketing strategy, plan, ROI targets and budgets
• articulation of the global product value proposition, key customer benefits (quantitative and qualitative) and unique selling points, ensuring availability of user personas, audience-based messaging and objection handling primarily at global level but also at local level working with sales enablement teams.
• powerful and up-to-date collateral both for internal and external use and mainly for digital channels
• coordinated design and delivery of internal training plans targeting all customer facing functions wand partners, ensuring clear understanding of value proposition as well as product boundaries
• development of marketing partnerships, delivering co-authored content and running joint events
• supporting industry awards work in team with Marketing stakeholders
• securing our client’s annual market outreach plans and execution, creating target lists to support sales
• product releases and launches plans and associated communications and campaign execution
• client testimonials, managing client and legal approval process and ensuring wide distribution
• creating and nurturing product community, co-developing online and offline user forums.
Performance reporting and budgeting
• With support from our financials, planning and risk reporting group publish monthly, quarterly and annual plans and budgets
• In team with product management articulate resource deployment needs to enable the execution of the product roadmap and key client commitments
• In collaboration with Customer Success and Implementation teams, assess and report on standardisation and customer experience KPIs highlighting areas of strength and improvements and plans to address
• Communicate proactively to ensure consistent understanding of our growth initiatives across our teams, helping to ensure a coherent approach to industry engagement and internal dialogue. Identify and address silo-behaviour, both through effective use of formal governance and by building and maintaining strong internal relationships.
The successful candidate will have the following:
Well educated and professionally qualified
At least 10 years’ experience of Product Strategy and Delivery having previously held a similar position in a bank or financial Services institution
Demonstrated strategy development & execution capability.
Strong strategic thinking, problem solving, analytical / critical thinking skills
Ability to manage process and apply large quantities of information quickly and accurately to draw conclusions.
Leads with conviction, able to communicate persuasively in writing and in person.
Excellent relationship-building skills, enabling you to build strong, long term relationships whilst robustly challenging conclusions and direction.
Ability to work with limited direction, usually within a complex and often ambiguous environment, to drive rigorous, fact-based recommendations to Insurance and senior management.
Experience in managing a team, driving change, coach and develops talent.
Excellent relationship-building skills, enabling you to build strong, long term relationships across teams.
Empower and develop others to be innovative; foster an inquisitive thoughtful environment.
If you feel you are a suitable candidate for this position please contact Jonathan Banjo