SCUK Product Development Manager

Santander Consumer Finance is one of the UK’s Leading Motor Finance companies and we are currently looking for Product Development Manager.

Reporting to the Director of Marketing and Innovation, an opportunity now exists to fulfil the role of Product Development Manager at Santander Consumer Finance UK. The purpose of this exciting role is to lead the innovation and implementation of new finance products and services, as well as manage, review and enhance the existing portfolio of SCUK finance and insurance products- ensuring that both new and existing products meet the needs of both regulatory requirements and SCUK commercial objectives. The role will bring the successful candidate into close contact with many of the SCUK business functions, as well as the wider Santander Group, and provides a unique opportunity to learn how the business functions, playing a key role in shaping its future.

Please note this role is a hybrid role with at least 3 days a week in the Redhill office. Remote workers will not be considered.

Responsibilities will include:

• In conjunction with line management, develop and document the short, medium and long term product portfolio strategy for SCUK in order to help deliver SCUK’s business objectives. This will include management of the existing portfolio and planning the ongoing governance and oversight.

• Develop an annual activity plan outlining timings and high-level deliverables based on the strategic goals established for the role and deliver the agreed plan in line with the prescribed budget through on-going review and monitoring of costs.

• Establish and manage key strategic relationships within:
   - The SCUK Marketing department,
  - Compliance, Risk and other line 2 functions,
  - Other SCUK business functions,
  - OEM partners,
  - Dealer partners and 3rd party suppliers as appropriate.

• Within the product development framework established by the organisation, the successful candidate will be responsible for identifying opportunities and developing products/ services that deliver good customer outcomes, whilst also optimising sales volume and profitability.

• Closely manage existing products and services ensuring ongoing compliance with regulatory requirements and the needs of Consumer Duty. Plan out and execute annual oversight activity in line with the organisation’s requirements. Manage the development of new products and services ensuring compliance with the organisation’s governance structure as well as planning the ongoing monitoring of those products and services to ensure they perform as expected.

• Working in conjunction with SCUK’s Risk function, closely manage and document all risks associated with the development of new product and the ongoing oversight of existing products. Ensure a holistic approach to risk management from product development and inception, to distribution, through live agreement/policy until end of contract. This includes all aspects of the product fulfilment including suppliers, distributors, customers and internal business function.

• Utilise appropriate insight (industry, business, customer and technological etc.), to drive the continual improvement of products and services with a lens on good customer outcomes. Look for ways to differentiate the SCUK business offering, in order to generate added value to the organisation’s customers, OEM partners and dealers. Develop any qualifying ideas from concept to inception following the required processes.

• Adhere to the company’s policies and processes with regards personal conduct and the mitigating of material risk. Ensure the way products are developed are aligned to the overall business values of Simple, Personal, Fair and the meet the needs of Consumer Duty. Work in collaboration with SCUK compliance function to ensure that all products and services have been through the required governance and continue to meet the required standards of the organisation.

• Ensure any product and service enhancements or developments are in line with the regulatory requirements and are focussed on delivering good customer outcomes.

• Deal with or escalate any identified risks in relation to Santander Consumer risk policies and/or legislative and regulatory guidelines in accordance with the organisation’s risk framework

• Manage a small Product Development team, through the setting of clear, well-communicated objectives and through on-going coaching, guidance and development as necessary. The successful candidate will need to follow SCUK People and Culture policies, ensuring the correct recording and measuring team member progress and achievement.

• Carry out any other tasks from time to time as may reasonably be requested.

What we’re looking for:

• Has worked within motor related financial services in a previous capacity and has a full and detailed working knowledge of the products commonly offered in the marketplace

• Displays sound commercial acumen, with experience of being able to quickly understand the drivers of profitability in a business

• Has end-to-end product development experience that encompasses all phases of the delivery cycle from research through development to launch

• Has worked in an organisation where multiple stakeholder management was common or where exposure to an international as well as domestic business operation existed

• An appreciation of the marketing mix, the importance of product and promotion and the differences that the B2B, B2C and B2B2C channels present

• Is able to produce sound working documentation and presentations, including business case proposals and requirements, briefs and presentations

• Has an understanding of legal, regulatory and compliance issues and is familiar with the principles encapsulated within the FCA’s Consumer Duty code of conduct

• It is expected that any candidate is able to display a good understanding of the general market sector, have excellent interpersonal skills and is comfortable and confident when dealing with Board-level management.

• Educated to degree level (or equivalent) or able to demonstrate extensive, relevant professional experience in digital, marketing, customer experience, or transformation roles.

• Educated to A-level standard (or equivalent).

• Evidence of continued professional development, such as relevant certifications, training, or qualifications in digital transformation, technology, customer experience, project delivery, or related disciplines is desirable.

We have a range of benefits available which include:

• Competitive salary dependent on experience

• 30 days holiday per annum, plus bank holidays

• Annual bonus based on personal and company performance

• Car allowance

• Private medical cover

• £500 flexible benefit allowance

• Generous pension contributions

• Employee assistance programme

• Sharesave scheme

• Gym passes at a reduced rate for 3,000 gyms, leisure centres etc

Inclusion

At Santander we’re creating a thriving workplace where all colleagues feel they belong and are supported to succeed.  We all help to make Santander a workplace that celebrates diversity and attracts, retains and develops the most talented and committed people through living our values of Simple, Personal, and Fair.

At Santander Consumer Finance we have a zero-tolerance approach to discrimination, bullying, harassment (including sexual) or victimisation of any kind.

Should you want to be considered for part time hours, please let us know and we can assess your requirements.

What are the next steps:

If you are interested in this role and believe you have the skills, experience, and knowledge then we’d love to hear from you. Please go ahead and click apply which will take you through some questions and allow you to submit your CV and covering letter.