Organization Unit Purpose
Transaction Banking (TB) provides a diverse range of products and services to customers of C&IB. The customers in these market segments are demanding and expect a significant level of expertise from the business.
The TB Product Unit has been setup to strategically drive Cash and Trade business to achieve bank’s goals while delivering on customers’ requirements. The unit will drive global Cash and Trade strategy for the Emirates NBD Group. The main responsibilities of the unit would be portfolio analysis for all products under the Transaction banking vertical. Drive cross sell of TB products to C&IB customers through TB Sales team and WB RM teams. Knowledge/ Domain expertise will be with the team members. The unit will own identifying and mitigating risks in new and existing products. Develop and run product programs which are aligned with the Emirates NBD strategy. Design products and services in line with the customers’ needs and market developments. Identify product gaps for further development on existing and new products. Drive product profitability and usage across C&IB customers. Own the pricing policy and discounts/ waiver policy for Transaction banking products. Own and direct the entire C&IB channels strategy for Emirates NBD and its branches. The unit members will also take ownership of marketing material, collateral, industry events & awards
Job Purpose
The job holder will help develop, drive and implement strategy for the structured trade product/s under the Trade Finance domain, encompassing both physical and electronic. This will include providing structured trade solutions by leveraging existing products on documentary trade & open account. Working on thru-SPV / TradeCO structures. This will include setting up of Bank controlled / Orpha SPV’s, client engagement to structure bespoke deals, preliminary drafting of the legal agreements, working with internal and external legal counsels, engagement with Solutioning, Coverage and Credit for deal presentation, approvals and execution. Setting up Middle Office and Agency functions for monitoring of SPV, transactional CP’s&CS’s.
The candidate will have a specific task of setting – up structure trade finance solutions with 3rd party commodity hedge wraps. This includes putting up strategy paper to management committees, developing a concept paper of mis-matches in commodity trade, managing product approvals from all stakeholders, setting – up partnerships with 3rd party hedge administrators, setting up ancillary products for supporting margin money calls.
The purpose of the Product manager – Trade Finance is to own the full end to end process, of products falling in Structured Trade domain. Job holder will be a recognized trade subject matter expert. The job holder will also be responsible for ensuring development of new product programs and keep the existing programs fully updated for structured trade proposition. He/ She will be responsible for driving Sales team to achieve targeted revenue for a product/ service. He/ She will be responsible for award participation in the product categories assigned to him/ her.
Job Content
1. Product Revenue
2. New Products
3. Product programs
4. Marketing
5. Risk Mitigation
6. Product Pricing Strategy
Education
Bachelor’s Degree, Legal Experience
Experiences
10+ years of banking industry experience with Trade experience for the last 8 years. Should have a good understanding of Trade Operations
Knowledge & Skills
ICC Rules such as UCP 600, URDG, ISP, ISDGP, ISBP, URR and ability to develop product strategy/ ies and experience of handling structured trade products
Behavioral Competencies
Work closely with Sales team.
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About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 20 million customers. As at 30th September 2023, total assets were AED 836 billion, (equivalent to approx. USD 228 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 853 branches and 4,213 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 3.89 billion.
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.
Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE’s main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE’s Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
