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
