Senior Product Manager - Savings Products

Location: Lagos, Nigeria Product Strategy & Ownership Own the end-to-end strategy for Renmoney’s savings products, including: Everyday savings accounts Fixed or term deposits Structured and goal-based savings products Future diaspora savings offerings Translate Renmoney’s 2025–2027 long-term business strategy into a clear product roadmap for savings. Ensure savings products support: Deposit growth Lower funding costs Healthy balance between short-term and long-term funds Define product value propositions for different customer groups such as individual retail customers, small and medium-sized businesses, and Nigerians in the diaspora. Balance Sheet & Commercial Performance Work closely with the Finance and Treasury teams to: Improve the mix between on-demand savings (money customers can withdraw anytime) and fixed deposits (money locked for a specific period) Reduce the Cost of Funds (COF), which means how much the bank pays customers for deposits Model how pricing, interest rates, and savings tenors affect profitability and liquidity Own key savings performance metrics, including: Total deposits and monthly net inflows Average balance per customer Cost of Funds (interest paid on deposits) Customer retention and churn (how many customers stay or leave) Execution & Delivery Lead cross-functional execution with: Engineering (software development) Design (user experience and interface) Risk Management Compliance (regulatory adherence) Operations and Customer Support Marketing and Growth teams Write Product Requirement Documents (PRDs) that clearly describe what is being built and why. Prioritize features and initiatives based on customer value, risk, effort, and business impact. Ensure savings features are reliable, scalable, compliant with regulations, and easy for customers to use. Governance, Risk & Compliance Represent savings products in the Product Governance Council (PGC), which is the internal committee that reviews, approves, and governs all product changes. Participate in Asset and Liability Committee (ALCO) sessions, where senior leaders manage: Liquidity (availability of cash) Interest rate risk Funding strategy Ensure savings products comply with: Central Bank of Nigeria (CBN) regulations Nigeria Data Protection Regulation (NDPR), which governs customer data privacy Internal audit, risk, and control frameworks Proactively identify risks, trade-offs, and dependencies before they become issues. Customer Experience & Growth Improve savings adoption through: Simple and clear onboarding Smooth funding and withdrawal experiences Transparent communication of interest, penalties, and terms Use savings as a foundation to cross-sell other products such as loans and payments. Work with the Analytics team to understand customer behavior and lifetime value. Requirements 6–10+ years of Product Management experience Direct experience with banking, savings, or deposit products Experience working in regulated financial institutions such as banks, microfinance banks, or fintechs Proven ability to own products that impact revenue and the balance sheet Experience working closely with Finance, Risk, and Compliance teams Skills & Competencies Strong understanding of financial concepts such as interest rates, liquidity, and funding costs Data-driven decision-making combined with sound professional judgment Ability to operate at both strategic and execution levels Strong written and verbal communication skills, including with executive leadership High sense of ownership and accountability Success Metrics (First 12–18 Months) Consistent growth in customer deposits Improved funding efficiency through a better deposit mix Strong adoption and retention of savings products On-time delivery of roadmap initiatives that meet regulatory and audit requirements Clear, trusted product leadership in executive and governance forums Nice-to-Have Experience with diaspora banking or international savings products Exposure to senior financial decision-making forums such as ALCO Experience in fast-growing fintech or digital banking environments Familiarity with analytics, experimentation, and customer insight tools Key Stakeholders Head of Product Finance and Treasury teams Risk Management and Compliance teams Engineering and Design teams Marketing and Growth teams Executive Management, including: Chief Executive Officer (CEO) Deputy Chief Executive Officer Asset and Liability Committee (ALCO) Product Governance Council (PGC) Benefits Why Join Renmoney Opportunity to shape the savings foundation of a modern Nigerian digital bank High visibility and direct impact on business performance Strong governance, leadership support, and product culture A role that combines product leadership, financial performance, and customer impact