At a Glance
- Tasks: Enhance bank products while ensuring compliance with Consumer Duty standards and regulations.
- Company: Join a leading bank focused on customer-centric innovation.
- Benefits: Competitive salary, career development opportunities, and a collaborative work environment.
- Other info: Dynamic team atmosphere with opportunities for professional growth.
- Why this job: Make a real impact by improving customer experiences and driving product innovation.
- Qualifications: 3-5 years in a similar role with strong stakeholder management skills.
The predicted salary is between 45000 - 55000 £ per year.
Product Specialist with Consumer Duty Experience. You will have 3 - 5 years experience in a similar role. This role involves customer interaction and requires someone with practical experience in dealing with internal stakeholders, consumer duty requirements and enhancing bank products and offerings.
Job Role
- Ensure products, services, and processes align with FCA Consumer Duty standards, as well as other relevant regulations.
- Timely gathering and delivery of 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.
- Assist or manage on Consumer Duty related projects or on the Consumer Duty angle as part of other more general products as 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.
- Review, update, and draft policies, frameworks, and written programmes to reflect consumer duty requirements.
- Change management of initiatives embedding Consumer Duty principles into business operations, procedures, and strategy, ensuring smooth integration across business functions.
- Design, refine, and test controls to mitigate regulatory and compliance risks, proactively identifying areas for improvement.
- Collaborate with senior management and internal teams to implement initiatives and communicate changes effectively.
- Produce clear, regulator-ready documentation and dashboards for governance purposes, ensuring oversight of compliance activities.
- Routinely monitor product usage and customer behaviours to identify potential risks or friction points, promoting best practices in line with regulatory guidance.
- 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 centres is consistent.
- Reducing friction points for smooth client interaction and services.
- 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.
- 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.
Product Specialist employer: HBL Bank UK
As a Product Specialist at our esteemed bank, you will thrive in a dynamic work culture that prioritises collaboration and innovation. We offer competitive benefits, including professional development opportunities and a commitment to employee well-being, all within a supportive environment that values your contributions. Join us in shaping exceptional banking experiences while ensuring compliance with Consumer Duty standards, making a meaningful impact on our customers' lives.
