Job Description

Job Title Assistant Manager – Retail Asset Products Department Meethaq Islamic Banking – Bank Muscat Location Bank Muscat Head Office, Oman Reporting to Unit Head – Retail Assets & Cards

Main Role (Overall accountability):

Assist the Unit Head- Retail Assets & Cards in the development of new and management of all existing Islamic Retail Asset products within the framework and regulation approved by the Central Bank of Oman.

Principal Accountabilities:

The Assistant Manager – Retail Asset Products will be responsible for the following:

• Managing the asset products business in all its aspects (Policies & Procedures, TAT, Acquisition process, etc.) Develop new products to have the best Product Mix targeting all segments in the market based on potential prospects.
• To develop, execute and manage retail product & innovation strategy and tactical business plan considering the market opportunity / growth potential, competitor activity, existing capabilities and risk appetite.
• To assess, analyse, define, recommend, implement and follow up market intelligence and marketing plans to meet the Islamic bank’s strategic objective.
• Coordinate with all stakeholders to obtain all required approvals (Management, Products approval and Review Committee, Shari'a supervisory Board, Central Bank of Oman, Operations, IT, etc.).
• Manage the product Portfolio and all elements related to the P&L in order to optimize revenues and achieve the annual budgets.
• Design and develop new products, offerings, benefit, promotions and campaigns in order to create maximum attraction, acquisition and retention.
• Manage/provide all training course and refresher courses related to all products for new and existing staff including branches, call canter, operation and other support teams.
• Drive the acquisition plans for all products across all channels and put a coherent acquisition strategy in place.
• Manage all relationships with internal and external stakeholders.
• Develop and manage product acquisition and marketing strategies across all the channels (Branches, e-branches, sales outlets, malls read shows, ATMs, on-line, direct marketing, pre-approved programs, unique sales blitz at multiple intervals, cross sell to financing customers).
• Oversee all admin works such as vendor registration, development of on boarding policies, solving issue, customer requirement etc.
• Run frequent programs and offerings to increase loyalty and periodical campaign targeting new acquisition while making use of any events, occasions, or seasonality offerings.
• Build a solid & robust MIS and Data Analytics capabilities to submit and conduct monthly reviews with management for the complete P&L of all products.
• Strengthen product positioning and proposition to make Meethaq asset products the products of 1st choice in the mark.

Personnel Specifications:

The Successful Applicant will possess the following qualification:

• University degree with a minimum 5-7 years in the field of Retail finance products.
• At least 5 years of work experience in the retail business of an Islamic bank.
• Full understanding of key success factors for secured and unsecured retail assets.
• Full knowledge of developing of products, coming up with campaigns, policies and procedures, risk factors, TAT, benefits, and attractions, customer experience and life cycle management.
• Well versed with Sharia related principles and requirements
• High level of English communication skills.
• Leadership and sales skills.
• Coaching & training skills.
• Good communication and presentation skills.
• Self Starter.