Product Development Officer

September 21, 2022
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Job Description

Job Purpose:

Work with Product Development Management to capture and understand business needs and requirements regarding product enhancement and development.

Support in, and full grasp the basics of product development knowledge and all related periodical tasks and report preparation, design and research.

  1. Operations Management

Manage the daily operations of Product Development Unit to ensure that work processes are implemented as designed and comply with established policies and procedures
Manage the preparation of timely and accurate reports to meet company and departmental requirements, policies and standards
· Assist in day-to-day operations with Product and Business departments, and monthly tasks.

  1. Product Design & Development

· Design and develop mortgage products and services based on extensive market research and intelligence, in an innovative and creative manner that is fair to the company and competitive in the market

· Identify potential market segments for each product based on several demographics and commercial factors, in order to enable effective targeted product design and marketing

· Analyze and calculate breakeven points for proposed products and forecast their profitability

· Identify and advise product interest rates that are competitive and fair to the company from a revenue-generation perspective

  1. Research & Market Intelligence

Liaise with the Business Development Manager to obtain market research and intelligence reports in order to use them in formulating and designing new products.
· Prepare the required products department periodic reports and analysis.

· Support the management in product development plan execution.

· Assist in Proposals, and memos write-ups for Commercial Department – product related in specific.

· Assist in managing Shari’ah Supervisory Board relationship.

· Assist in creating training materials, and manuals.

· Conduct frequent market scan to capture market pricing, and possible financing solutions.

· Inform management or the employee in charge of any product related required updated and/or violation as per regulatory announcements and laws.

  1. Policies, Processes & Procedures

· Ensure that all proposed product designs are Shariah and SAMA compliant, in liaison with the Sharia Committee and the Compliance Manager

· Ensure that all proposed product designs are compliant with the Mortgage law, in liaison with the Legal Manager

· Help enhance and implement impactful process improvements.

· Sustain the company’s standards, rules and guideline in general and of product development in specific when preforming tasks and assignments when instructed and directed by management.

JOB SPECIFICATIONS

Academic and Professional Qualifications

· Bachelor’s degree in Business Administration, MIS or any other related field

Years of Experience

· 0-2 years of relevant experience in Product Design & Development Management

Technical Skills

· Strong attention to detail, especially quantitative information

· Excellent communication and customer service skills

· Fluency in Arabic and English

· Excellent oral and written communications skills

· Thorough understanding of mortgage processes