To manage all aspects of the assigned low complexity Transaction Banking solutioning portfolio, managing multiple processes or programs to realise the solution set strategy, influencing timelines and expectations, and proactively negotiating across departments, and sometimes functional management.
Financial Industry: Purpose of the role:
Custodians play a crucial role in the financial industry by safeguarding assets and ensuring smooth settlement of transactions. Their functions can be categorized into domestic custodians and global custodians, each serving different scopes of asset management and operational needs. The product manager is responsible for the management of the product overall across the value chain which includes financial performance, client, risk management, and overseeing of the development, launch and maintenance of custodial products and services, in the financial industry.
Roles and responsibilities of the role:
Localize and execute the solution set strategy for assigned area Global Custody/Domestic Custody. Develop and implement plans and set effective targets to achieve portfolio P&L, performance indicators, revenue targets and client expectations, in line with overarching solution strategy. Provide local market insight and input towards the Strategy.
Research, collate data and understand the client base and market, providing input into the solution value proposition. Build relationships with key regulatory bodies / associations and engage in market advocacy to proactively identify new opportunities, influence and lobby.
Follow and adapt within group guidelines, monitor, and lead local NPCs. Monitor solution utilisation against performance indicators, to identify areas for improvement that will increase their return-on-investment.
Contribute to setting the budget, monitor actual expenditure, consolidate and aggregate financial performance and profitability and validate investment business cases, priorities, and decision making.
Drive execution of solution design and development, including constructing design and development teams to configure, adapt and test solutions, and communicate test results within the local context.
Act as a solution expert, bridging technical expertise to maximise revenues, ensure client satisfaction, regulatory compliance and systems acceptability for moderately complex solutioning.
Own and manage internal and external awareness, internal training and publishing collateral. Communicate solution updates, enhancements and market trends to client facing teams to enhance their solutioning capability across origination and client service efforts
1. Product Development: Design and develop custodial products, services, and solutions to meet client needs.
2. Product Lifecycle Management: Manage the entire product lifecycle, from concept to launch and ongoing maintenance.
3. Regulatory Compliance: Ensure adherence to relevant regulations, laws, and industry standards (e.g., AML/KYC, POPI).
4. Risk Management: Identify, assess, and mitigate risks associated with custodial products and services.
5. Client Relationship Management: Collaborate with clients, sales teams, and other stakeholders to understand needs and deliver solutions.
6. Operations Management: Oversee day-to-day operations, including asset servicing, reporting, and accounting. Work with the Operations team to deliver the product as per product expectations
7. Technology Integration: Work with technology teams to implement and maintain custodial systems and platforms.
8. Competitive Analysis: Monitor market trends, competitor offerings, and industry developments.
9. Revenue Growth: Develop strategies to increase revenue and market share.
10. Team Leadership: Manage and mentor cross-functional teams, including product development, operations, and sales.
Domestic Custodians:
Focus on managing and safeguarding assets within one country.Handle local trade settlements, corporate actions, and regulatory reporting.Provide client support and tax services specific to the domestic market.Global Custodians:
Offer a broader range of services across multiple countries.Manage cross-border trades, international corporate actions, and global regulatory compliance.Provide comprehensive global reporting, investment services, and international tax solutions.