Job Description

Job Purpose

The Product Manager – Islamic Banking will be responsible for the end-to-end management, governance, and optimization of Islamic Banking pricing pools across multiple currencies and business lines, including Individual Banking and Business Banking products.

The role holder will oversee the full lifecycle of Islamic Banking pools, including Mudarabah Pools, Equity Pools, Treasury Pools, and any future Shariah-compliant investment and profit-sharing pools. Responsibilities include pool creation, weightage management, profit rate declaration, pricing governance, pool performance monitoring, regulatory compliance, system configuration, and profit distribution accuracy.

The incumbent will act as the central coordinator between Treasury, Finance, Business, Technology, Operations, and Shariah Governance teams to ensure effective pool management, system enhancements, regulatory compliance, and successful product implementation. The role will also support Product Owners in the setup, testing, launch, and enhancement of Islamic Banking products while contributing to product innovation initiatives.

Key Results Areas

Pool Management & Governance

• Manage end-to-end Islamic Banking pricing pools, including:
• Mudarabah Pools
• Equity Pools
• Treasury Pools
• Any future Islamic investment or profit-sharing pools
• Ensure accurate allocation of assets, liabilities, and funding sources into relevant pools.
• Manage pool weightages, profit-sharing ratios, and pricing parameters.
• Conduct regular performance monitoring and optimization of pool structures.
• Ensure profit calculation and distribution are accurate and compliant with regulatory and Shariah requirements.
• Maintain pool documentation, policies, and operational procedures.

New Pool Setup & Product Launch Support

• Lead establishment of new Islamic Banking pools and associated configurations.
• Define business requirements for new pool structures and pricing methodologies.
• Coordinate with Technology and Operations teams for implementation.
• Conduct impact assessments and readiness reviews prior to launch.
• Support end-to-end testing and deployment activities.

Pricing Management

• Manage Islamic deposit and investment pricing frameworks across all product segments.
• Work closely with Treasury to determine competitive and sustainable profit rates.
• Analyze pool performance and market conditions to recommend pricing changes.
• Ensure pricing decisions are commercially viable while maintaining Shariah compliance.

System Development & Enhancements

• Act as business owner for Pool Management Systems.
• Define requirements for system enhancements, automation, controls, and reporting.
• Coordinate user acceptance testing (UAT), defect resolution, and implementation activities.
• Drive continuous improvements in pool management, pricing, and reporting capabilities.

Regulatory & Shariah Compliance

• Ensure adherence to all applicable Islamic Banking regulations, Shariah Governance requirements, AAOIFI standards (where applicable), and central bank regulations.
• Manage internal, external, regulatory, and Shariah audit reviews relating to pool management and pricing.
• Ensure all pool management practices remain fully compliant with approved policies and regulatory expectations.
• Implement regulatory and Shariah changes impacting pool structures and pricing methodologies.

Product Development & Innovation

• Support Product Owners in Islamic product structuring, setup, and implementation.
• Participate in requirements gathering, testing, and launch activities for new products and features.
• Contribute to development of innovative Islamic Banking propositions and investment structures.
• Assist in enhancing customer value propositions across retail and business banking products.

Stakeholder Management

• Serve as primary liaison between:
• Treasury
• Finance
• Technology
• Operations
• Product Teams
• Business Banking
• Personal Banking
• Shariah Governance
• Compliance and Risk
• Ensure alignment across stakeholders on pool management objectives, pricing decisions, and regulatory requirements.

Knowledge, Skills and Experience

• Minimum 7-10 years of banking experience, with at least 4-5 years in Islamic Banking.
• Proven experience in Mudarabah Pool Management and Islamic Banking pricing methodologies.
• Experience managing Islamic deposit and investment products.
• Hands-on experience in product implementation, testing, and system enhancements.
• Experience working with Treasury, Finance, and Technology teams.
• Experience dealing with regulatory, Shariah, and audit requirements.