Head, Product Development

4 weeks ago

Malaysia TIME's group Full time
  • Define plan required for implementation, support with doc., approval. Papers, policy wording etc for Retail Protectors
  • Identify required alignments and timelines with key CoEs/Service Partners and Support Functions
  • Engage with key stakeholders across stages of the value chain to understand process and address roadblocks on the way of efficient and effective service delivery
  • Support ideation and development of motor, travel, personal accident, medical, home, fire insurance products and value propositions
  • Create customer journeys to ensure a seamless e2e customer experience both online and offline

Building relationship and grow collaborative effort with Community Banking (Retail) to identify synergies from Product Development perspectives

Primary Objective:

  • Define plan required for implementation, support with doc., approval. Papers, policy wording etc for Retail Protectors
  • Identify required alignments and timelines with key CoEs/Service Partners and Support Functions
  • Engage with key stakeholders across stages of the value chain to understand process and address roadblocks on the way of efficient and effective service delivery
  • Support ideation and development of motor, travel, personal accident, medical, home, fire insurance products and value propositions
  • Create customer journeys to ensure a seamless e2e customer experience both online and offline

Building relationship and grow collaborative effort with Community Banking (Retail) to identify synergies from Product Development perspectives

Key Responsibilities:

Product development

  • Define plan required for implementation, support with doc. , approval. Papers, policy wording etc
  • Define compliance requirements, support for delivery of approvals on time and communication across risk, compliance and legal teams
  • Engage with key stakeholders across stages of the value chain to understand process and address roadblocks on the way of efficient and effective service delivery
  • Identify potential risks and initiative roadblocks, recommending ways to overcome such obstacles
  • Provide risk-based feasibility input to squad; understand regulatory and compliance requirements
  • Strong understanding of business and operational processes
  • In-depth understanding of Product Development Process
  • Able to communicate and work with other parts of the organization
  • Understand customer personas, needs and pain points via Design Thinking
  • Perform Market Research including proposal on new product ideas as and when required
  • Participate in product innovation brainstorm and follow through.
  • Review Product Design Approval Document, conduct market intelligence and Identify target market.
  • Complete the Materiality Assessment Template.
  • Present the information on the product design, concept, collaterals, business plan and strategy to respective stakeholder for approval or endorsement
  • Consolidate and prepare policy wording, proposal forms, product disclosure sheet and brochure.
  • Consolidate proposed product specification, pricing and forecast production.
  • Engage all relevant business / support teams (including IT) for inputs on all aspects of the product proposal
  • Ensure the product design complies with policies, procedures, laws, controls and processes that have been introduced by RHBI, BNM and other regulatory bodies.
  • Description and assessment of risks with analysis and mitigation strategies i.e. strategic, credit, market, operational and insurance risks.
  • Coordinate with related points of contacts in CoEs and Support Centers
  • Complete product proposal paper and product documentation for review and submission to all approving authorities' i.e. internal stakeholders (PPC and MANCO), IPREB, Group CARL and BNM.
  • Pre-launch preparation
  • Coordinate post-implementation review analysis
  • Monthly performance tracking (target vs actual)
  • Yearly product review and product harmonization exercise
  • Provide product training to sales where necessary
  • Ensure product and operating manual guidelines are kept up-to-date and complete
  • Propose system enhancements, raise CRs and perform UAT where needed
  • Coordinate with Marketing & CX CoE to plan for marketing activities and collaterals
  • Design, manage & initiate specific sales campaigns to incentivize sales staff
  • Prepare and submit necessary reporting (e.g. quarterly BNM reporting and Yearly PIDM reporting)
  • Bring knowledge of specific set of business and operational processes to the team
  • Maintain complete documentation of the proposed product and share relevant approval document, including regulatory approval if required.
  • Submit Certificate of product readiness to template to Group Compliance
  • Update product collaterals in My1portal (if any)
  • Coordinate to perform post implementation review analysis
  • Any other tasks required by Head of Retail Protector

Management of customer journeys by customer segments/ products

  • Support plotting and mapping of end to end customer journeys by products and segments with Retail & Biz Tribes
  • Identify heat-maps within the journey and seek to rectify, improve and innovate
  • Provide inputs in continuous improvement of journeys

Chapter Member

  • Provide product development advice as and when required by Squads/Circle
  • Advice chapter members on product development processes
  • Provide coaching and up skilling to chapter members/Squads/Biz/CoE on product development processes

Agile Ceremonies

  • Participate in agile ceremonies

Requirements

Requirements:
Bachelor Degree - Minimum Bachelors Degree.

Minimum more than 15 years

  • Design Thinking capabilities to understand customer personas, needs and pain points
  • Understanding of travel, personal accident, medical, home, fire insurance products and market landscape/ future trends
  • Forward-thinking strategic mindset
  • Highly organized and detail-oriented when necessary to execute strategies and initiatives
  • Understanding of related regulatory and compliance guidelines
  • Able to balance and consider risk levels in product development
  • Well informed on the developments in the relevant domain
  • Good understanding of key bank processes
  • Business financials and planning knowledge
  • Good problem solving and analytical skills
  • Knowledge on analytical tools
  • Good written communication skills

Dental, Education support, Miscellaneous allowance, Medical, Loans, Sports (e.g. Gym), Parking, Vision, Regular hours, Mondays - Fridays, Casual Business Wear, Performance Based Rewards

Company information

Registration No.

6171-M

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