Product Strategy & OwnershipOwn the end-to-end strategy for Renmoney’s savings products, including:Everyday savings accountsFixed or term depositsStructured and goal-based savings productsFuture diaspora savings offeringsTranslate Renmoney’s 2025–2027 long-term business strategy into a clear product roadmap for savings.Ensure savings products support:Deposit growthLower funding costsHealthy balance between short-term and long-term fundsDefine 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 PerformanceWork 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 depositsModel how pricing, interest rates, and savings tenors affect profitability and liquidityOwn key savings performance metrics, including:Total deposits and monthly net inflowsAverage balance per customerCost of Funds (interest paid on deposits)Customer retention and churn (how many customers stay or leave) Execution & DeliveryLead cross-functional execution with:Engineering (software development)Design (user experience and interface)Risk ManagementCompliance (regulatory adherence)Operations and Customer SupportMarketing and Growth teamsWrite 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 & ComplianceRepresent 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 riskFunding strategyEnsure savings products comply with:Central Bank of Nigeria (CBN) regulationsNigeria Data Protection Regulation (NDPR), which governs customer data privacyInternal audit, risk, and control frameworksProactively identify risks, trade-offs, and dependencies before they become issues. Customer Experience & GrowthImprove savings adoption through:Simple and clear onboardingSmooth funding and withdrawal experiencesTransparent communication of interest, penalties, and termsUse 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. Requirements6–10+ years of Product Management experienceDirect experience with banking, savings, or deposit productsExperience working in regulated financial institutions such as banks, microfinance banks, or fintechsProven ability to own products that impact revenue and the balance sheetExperience working closely with Finance, Risk, and Compliance teams Skills & CompetenciesStrong understanding of financial concepts such as interest rates, liquidity, and funding costsData-driven decision-making combined with sound professional judgmentAbility to operate at both strategic and execution levelsStrong written and verbal communication skills, including with executive leadershipHigh sense of ownership and accountabilitySuccess Metrics (First 12–18 Months)Consistent growth in customer depositsImproved funding efficiency through a better deposit mixStrong adoption and retention of savings productsOn-time delivery of roadmap initiatives that meet regulatory and audit requirementsClear, trusted product leadership in executive and governance forums Nice-to-HaveExperience with diaspora banking or international savings productsExposure to senior financial decision-making forums such as ALCOExperience in fast-growing fintech or digital banking environmentsFamiliarity with analytics, experimentation, and customer insight toolsKey StakeholdersHead of ProductFinance and Treasury teamsRisk Management and Compliance teamsEngineering and Design teamsMarketing and Growth teamsExecutive Management, including:Chief Executive Officer (CEO)Deputy Chief Executive OfficerAsset and Liability Committee (ALCO)Product Governance Council (PGC) BenefitsWhy Join RenmoneyOpportunity to shape the savings foundation of a modern Nigerian digital bankHigh visibility and direct impact on business performanceStrong governance, leadership support, and product cultureA role that combines product leadership, financial performance, and customer impact
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
