# Senior Product Manager - Savings Products

> Renmoney · Lagos, Nigeria (Hybrid) · — · Posted 2026-01-26

**Workplace:** hybrid

**Department:** Product Development

## Description

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

## Apply

[Apply at Renmoney](https://apply.workable.com/renmoney/j/EE79E00C7D/apply)

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