Assistant Product Manager

The Assistant Product Manager supports the Head of Savings across pricing, performance management and product management. Working under the guidance of the Head of Savings, the role carries out much of the background analysis behind savings pricing (competitor positioning, price elasticity, margin and funding impact), produces the performance MI that shows how the book is behaving, and supports assigned products through their lifecycle.

Oxbury’s Savings Product team provides compelling savings products to consumers, businesses and farming businesses. It ensures the range offers fair value and delivers good customer outcomes under the Consumer Duty, and builds a deposit portfolio that meets Oxbury’s funding, liquidity and P&L requirements.

• Carry out the analysis behind savings pricing decisions, bringing together competitor and Aggregator positioning, Bank Rate and market rate expectations, funding and liquidity requirements, cost of funds and margin, to support the Head of Savings in forming pricing recommendations.
• Assist in building and maintaining pricing models that estimate how balances, inflows, outflows and retention respond to rate changes, relative market position and maturity events, and use them to forecast the volume and net interest margin impact of pricing options.
• Run scenario and sensitivity analysis on pricing proposals, under the guidance of the Head of Savings, so that the trade-offs between volume, cost of funds, margin, performance against Liquidity KRIs and customer outcomes are explicit.
• Prepare the weekly performance and pricing papers for the bank’s Liquidity Asset and Liability Committee (Liquidity ALCO) for review by the Head of Savings, and support the Head of Savings in presenting them.
• Co-ordinate the implementation of approved rate changes, ensuring they are accurate and on time and meet customer notice requirements, and review actual outcomes against expected outcomes after each change.
• Assist in assessing pricing through a Consumer Duty fair value lens, including front-book and back-book differentials and outcomes for different customer groups.
• Support the Head of Savings in maintaining the Bank’s Deposit Pricing Policy, and check that all Oxbury Deposit pricing adheres to it.

• Produce the savings performance MI (daily, weekly, monthly, quarterly and ad hoc): balances, flows, product mix, maturity profile, retention, cost of funds, margin and performance against the funding plan.
• Identify trends, anomalies and emerging risks in the data, and draft commentary and recommendations for review by the Head of Savings ahead of senior management, Product Governance Committee, Liquidity ALCO and board reporting.
• Support balance and margin forecasting and the funding plan with Finance and Treasury, and track actual performance against forecast.
• Assist in developing, automating and improving MI and analytical tools, with a focus on data quality, reconciliation and reducing manual effort.
• Monitor the competitor and market landscape, including savings aggregator and platform rates, product issues and customer feedback.

• Take day-to-day ownership of assigned products through the lifecycle, under the oversight of the Head of Savings, ensuring they remain fit for purpose, deliver fair value and good customer outcomes, including supporting annual and ad hoc product reviews.
• Support the development and delivery of new products and variants through all stages of the product development process: scoping, definition, structure, technical requirements and operational scope.
• Draft product documentation (specifications, descriptions, process flows, Concept Cases and Business Cases), including the financial modelling…