Senior Product Manager - Savings

At OakNorth, we’re on a mission to empower the UK’s most ambitious businesses. Since 2015, we’ve lent over $18 billion across the UK and US, helped create more than 58,000 new homes and 36,000 new jobs, and supported hundreds of thousands of personal savers — all while fuelling the UK economy.

About the role

OakNorth Personal Savings is a core funding engine for the bank, managing billions in AUM. OakNorth is one of the neobanks in the UK responsible for 46% of new growth in the Industry. As a Senior Product Manager (IC) in the Personal Savings squad, you’ll own major parts of our direct-to-customer retail savings proposition, work with the partnerships team to develop and distribute our products, shaping the product portfolio across acquisition, onboarding, in-life servicing, and reinvestment. This is a highly commercial role: you’ll work with some of the strongest commercial minds in the industry and partner closely with Pricing, Finance/Treasury, Engineering, Design, Risk/Compliance, and Operations to build a best-in-class savings experience, balancing customer value, regulatory discipline, operational scalability, and cost-of-funds realities. This role is ideal for a data‑led PM. You will be expected to define the metrics that matter, form hypotheses, run analyses (often self‑serve), and use evidence to drive prioritisation and pricing/product trade‑offs.

What you will be accountable for:

• Own and drive the retail savings roadmap.
• Own outcomes, roadmap, and delivery for key areas of the direct retail savings proposition (across web + app).
• Be accountable for the definition, launch, configuration, lifecycle management and operation of savings products (e.g. term, notice, ISAs, easy access), including product definition, eligibility rules, maturity behaviour, and reinvestment mechanics.
• Translate strategy into clear problems to solve, measurable OKRs, and a roadmap that delivers impact, not just output.
• Build a proposition that wins beyond interest rates.
• Understand customer needs and behaviours across the lifecycle (acquisition, funding, in-life, maturity/reinvestment), using research and data to guide prioritisation.
• Improve conversion, confidence, and retention through clearer journeys, better product packaging, and reduced friction.
• Be the product partner to Pricing and Finance/Treasury.
• Work directly with the Pricing Lead and Finance/Treasury to support pricing decisions and sign‑off with clear evidence, trade‑offs, and customer impact.
• Be responsible for shaping product and pricing hypotheses, testing them in‑market, and translating performance data into clear recommendations on rate changes, mix, and lifecycle strategy.
• Help build the operating cadence between Product + Pricing (hypotheses, experiments, measurement, iteration).
• Ship high‑quality product with Engineering + Ops.
• Work hands‑on with engineers and designers to define, deliver, and iterate solutions safely in a regulated environment.
• Partner with Operations to reduce avoidable contacts and operational drag through self‑serve improvements and process simplification.
• Maintain a high bar for resilience, quality, and customer trust.
• Contribute to partner‑linked delivery where relevant.

What success looks like:

• Measurable improvements to achieving our volume needs at expected margins.
• Constant uplift in end‑to‑end funnel and customer lifecycle events (conversion, funding, reinvestment, retention).
• Faster shipping with fewer incidents and less operational overhead.
• Strong product contribution to pricing decisions: clearer narratives, cleaner trade‑offs, stronger measurement.

About you

Must‑haves:

• Strong product craft: discovery, problem framing, prioritisation and outcome ownership.
• Strong understanding of the UK retail savings market, including customer rate sensitivity, aggregator dynamics, reinvestment behaviour, and competitive positioning.
• Strong commercial judgement and comfort operating within constraints (margin/cost‑of‑funds awareness, liquidity/mix implications, portfolio trade‑offs).
• Demonstrable quantitative skill: you can define the right metrics, analyse performance, design tests, and make decisions based on evidence.
• Highly credible with cross‑functional stakeholders: you can influence Pricing/Finance, align Engineering, and navigate Risk/Compliance and Ops.
• Data‑driven: fluent in metrics, experimentation, and honest performance assessment.
• Excellent written and verbal communication: can distil complex analysis into recommendations and clear decisions.

Nice‑to‑haves:

• Experience improving customer journeys (onboarding/KYC conversion or reinvestment flows) in savings products.
• Experience with aggregator/affiliate‑led acquisition.
• Experience simplifying operational processes or building scalable servicing journeys.
• Exposure to or interest in US deposit products is a plus, particularly differences in customer behaviour, regulation, and pricing dynamics.

What makes working here better:

• This is a truly hybrid role, offering engineers and product the flexibility to work from home while also providing opportunities to collaborate in person with the team when it adds value.
• There’s no fixed requirement for days in the office, instead, we focus on creating space for engineers & product to engage meaningfully, whether that’s in‑person for whiteboarding sessions or remote for deep focus work.
• Work‑life balance - 25 days holiday (plus bank holidays) each year, and enhanced family leave allowances.
• Competitive salary & equity - We want people to have a serious stake in the business.
• Good kit - Your choice of the best laptop, running macOS or Ubuntu.
• Team socials - The opportunity to get to know each other outside of work.
• Company socials - A chance to catch up and meet new colleagues weekly over informal office breakfasts and dinners on OakNorth - or at our free barista bar every day.
• Commuter support - We offer the cycle to work & EV scheme.