Senior Product Manager - Islamic Banking (Mashreq Bank of Pakistan)

The Product Manager – Islamic Banking will oversee the comprehensive management and governance of Islamic Banking pricing pools across various currencies and business lines, including Individual and Business Banking products. This role involves managing the entire lifecycle of Islamic Banking pools such as Mudarabah Pools, Equity Pools, Treasury Pools, and any future Shariah-compliant investment and profit-sharing pools. The incumbent will ensure accurate pool creation, weightage management, profit rate declaration, pricing governance, performance monitoring, regulatory compliance, system configuration, and precise profit distribution. Acting as a central coordinator, the role bridges Treasury, Finance, Business, Technology, Operations, and Shariah Governance teams to facilitate effective pool management, system improvements, regulatory adherence, and successful product rollouts. Additionally, the Product Manager will support Product Owners in product setup, testing, launch, and enhancement while contributing to innovation initiatives in Islamic Banking.

Key Responsibilities

- Pool Management & Governance: Manage end-to-end Islamic Banking pricing pools including Mudarabah, Equity, Treasury, and any new Islamic investment or profit-sharing pools. Ensure accurate allocation of assets, liabilities, and funding sources. Oversee pool weightages, profit-sharing ratios, and pricing parameters. Conduct regular performance monitoring and optimize pool structures. Guarantee profit calculation and distribution comply with regulatory and Shariah standards. Maintain comprehensive pool documentation, policies, and operational procedures.

- New Pool Setup & Product Launch Support: Lead the establishment of new Islamic Banking pools and related system configurations. Define business requirements for new pool structures and pricing methodologies. Collaborate with Technology and Operations teams for smooth implementation. Conduct impact assessments and readiness reviews before launch. Support end-to-end testing and deployment activities.

- Pricing Management: Manage Islamic deposit and investment pricing frameworks across all product segments. Work closely with Treasury to determine competitive and sustainable profit rates. Analyze pool performance and market conditions to recommend pricing adjustments. Ensure pricing decisions are commercially viable and Shariah-compliant.

- System Development & Enhancements: Serve as the business owner for Pool Management Systems. Define requirements for system enhancements, automation, controls, and reporting. Coordinate user acceptance testing (UAT), defect resolution, and implementation. Drive continuous improvements in pool management, pricing, and reporting capabilities.

- Regulatory & Shariah Compliance: Ensure full adherence to Islamic Banking regulations, Shariah Governance requirements, AAOIFI standards (where applicable), and central bank regulations. Manage internal, external, regulatory, and Shariah audit reviews related to pool management and pricing. Maintain compliance with approved policies and regulatory expectations. Implement regulatory and Shariah changes affecting pool structures and pricing methodologies.

- Product Development & Innovation: Support Product Owners in Islamic product structuring, setup, and implementation. Participate in requirements gathering, testing, and launch activities for new products and features. Contribute to the development of innovative Islamic Banking propositions and investment structures. Assist in enhancing customer value propositions across retail and business banking products.

- Stakeholder Management: Act as the primary liaison between Treasury, Finance, Technology, Operations, Product Teams, Business Banking, Personal Banking, Shariah Governance, Compliance, and Risk. Ensure alignment across stakeholders on pool management objectives, pricing decisions, and regulatory requirements.

Required Qualifications

- Minimum 7-10 years of banking experience, including at least 4-5 years in Islamic Banking.
- Proven expertise in Mudarabah Pool Management and Islamic Banking pricing methodologies.
- Experience managing Islamic deposit and investment products.
- Hands-on experience in product implementation, testing, and system enhancements.
- Demonstrated ability to collaborate with Treasury, Finance, and Technology teams.
- Familiarity with regulatory, Shariah, and audit requirements related to Islamic Banking.

Preferred Qualifications and Benefits

While specific benefits are not detailed, candidates with a strong background in Islamic finance product innovation and cross-functional stakeholder management will be well-positioned for success in this role. The position offers the opportunity to lead critical initiatives in a dynamic environment, driving growth and compliance in Islamic Banking products.