Consumer Duty Specialist and Product Manager has to be appointed with minimum 3 - 5 years’ experience. This role involves customer interaction and requires someone with clear understanding of FCA Principles of Consumer Duty, has implemented CD in day to day role, managed the CD outcomes, worked on Fair Value Assessment and Product Governance. The individual should have experience in managing different projects specially related to launching new products, conducting market assessment, dealing with internal stakeholders, and enhancing bank products and offerings.
Job Role
- Regulatory Compliance: Ensure products, services, and processes align with FCA Consumer Duty standards, as well as other relevant regulations.
- Consumer Duty: Timely gathering and delivery gather required information. Updating Consumer Duty Dashboard of Commercial Banking and related MI, ensuring that data is accurate and meaningful. Track and report on Consumer Duty related issues and actions, ensuring timely delivery of resolutions and agreed improvements.
- As appropriate assist or manage on Consumer Duty related projects or on the Consumer Duty angle as part of other more general products and well as new products or services or relevant changes to products or services. Ensure that changes are adequately reflected in the overall CD framework and MI, so that customer outcomes continue to be measured.
- Policy and Framework Development: Review, update, and draft policies, frameworks, and written programmes to reflect consumer duty requirements.
- Customer Outcomes Focus: Routinely monitor product usage and customer behaviours to identify potential risks or friction points, promoting best practices in line with regulatory guidance.
- Customer Journeys: Mapping and Reviewing customer Journeys across all the Bank’s products. Ensuring the Bank offerings across all channels such as mobile apps, websites, branches and call centre are consistent. Reducing friction points for smooth client interaction and services.
- New Products & Digital Banking: Working with Business Team to develop and execute product strategies aligned with the bank’s overall business goals. Identify market trends, customer needs, and competitive positioning.
- Design new Banking Products such as designing new deposit/retail banking products, enhancing digital banking platform i.e. App Integration, UI & Other Features. Build business cases including pricing, revenue forecasts, and cost analysis.
- Product Governance: Conducting Fair Value Assessment of all the Bank’s Products and updating relevant stakeholders. Reviewing existing Products and Offerings and proposing changes to enhance customer offerings to remain competitive in the market. Enhancing existing products such as Prestige Brand. Working on product governance matters, including oversight of business product governance reviews. Provide oversight of production of customer outcome monitoring.
- Change management of initiatives embedding Consumer Duty principles into business operations, procedures, and strategy, ensuring smooth integration across business functions.
- Risk Monitoring and Controls: Design, refine, and test controls to mitigate regulatory and compliance risks, proactively identifying areas for improvement.
- Stakeholder Engagement: Collaborate with senior management and internal teams to implement initiatives and communicate changes effectively.
- Reporting and Documentation: Produce clear, regulator-ready documentation and dashboards for governance purposes, ensuring oversight of compliance activities.
- Clear Understanding of UK regulatory environment (FCA, PRA) & Consumer Duty regulations
- Strong knowledge of banking products (e.g., lending, deposits, payments)
- Experience in product development or product management in financial services
- Strong analytical and financial modelling skills
- Stakeholder management and communication skills
- Experience in digital banking or fintech
- Knowledge of SME or corporate banking products
HBL Values
- Integrity – Be Ethical & Fair
- Customer Centric – Deliver Great Experiences
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