About the role
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
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