FOLLOW US

Product Advisory - Product, Sales and Market Management

About This Course

This 8-hour course will equip financial professionals in Private Banks with the skills to develop, maintain and convey detailed and specialized product knowledge as well as keep abreast of emerging product knowledge to address organization requirements.

Who Should Attend

  • Relationship Managers and Team Leads in Private Banking
  • Investment Counsellors
  • Product Specialist/ Product Sales Specialist

Learning Outcomes

  • Identify product needs
  • Justify suitable solutions to address customer needs
  • Support the role of a specific product in the broader end-to-end solution
  • Lead the design of customised solutions and products to meet customers’ unique set of requirements
  • Lead the sale of customised products to key customers by showcasing product benefits
  • Explain electronic product solutions for customers and unique value propositions
  • Identify relative standing of the organisation’s products with competitors’ products to propose any product enhancements

Key components and considerations in value demonstrations

  • Bank’s credit rating
  • Bank’s network and presence across the region/world
  • Bank’s core values
  • Bank’s range of businesses/services
  • Bank’s competency
  • Bank’s achievement
  • Bank’s platform in research, products and statements
  • Relationship manager’s experience, expertise, value-adds, trust-worthiness
  • One stop --- Private banking with access to retail banking, credit cards, mortgage loans, insurance, corporate banking
  • Product seminars and investment talks
  • 2nd generation program

Different elements in end-to-end product solutions

  • Product design
  • Technology
  • Business
  • Solution owner --- Product manager
  • Problem owner --- Client
  • Client centric --- product suitability & risk profile vs product risk
  • Delivery/Tracking the performance of the product
  • Feedback from sales persons and clients
  • Need for adjustment

Process and parameters of solution customization

  • Identify the needs of client/Validate opportunities
  • Design development
    • Resources and Expertise
    • Efficiency
    • Access to clients’ feedback
    • Demonstrate marketability
  • Proof of concept
  • Build and launch
  • Measure/Deliver results --- sales & revenue expectations
  • Leverage and lending value
  • Monitoring product life cycle
  • Handling client’s feedback
  • Presentation to New Product Committee for approval
    • Operations
    • IT
    • Legal
    • Middle office
    • Accounts
    • Trading desk
    • Sales

Proof-of-concept modelling

  • Proof-of-concept --- what is it
    • Narrow down on the idea (to make it a signature item)
    • Customize product to suit/ Customer oriented
    • Risk and reward profile
    • May take time to see if you can get some buy-in (eg 1 – 2 months)
    • Is there a market for it
    • Can internal system able to support
    • Iron out issues that may arise
    • Is it feasible/practical
  • Prototype
    • Application flow
    • Test
    • Evaluate
    • Improve
  • Minimum viable product (MVP) --- Pilot program
  • Full-fledged product

Electronic platforms, technical and system support

  • On-line access/digitalization
  • Ease of use
  • Relevant
  • Informative
  • Timely
  • Help desk

Information sources for identification of competitor’s products

  • Feedback from clients
  • Feedback from product providers
  • Feedback from industry experts
  • Survey

Product metrics

  • Building blocks
    • Equity
    • Fixed Income
    • Foreign Exchange
    • Forwards and Futures
    • Derivatives
    • Private Banking/Wealth Management Products
    • Asset Management
    • Trusts
    • Insurance
    • Alternatives
    • Private Equity
  • Product features and risk profile
  • Risks and rewards
  • Product suitability for what type of markets

Example

  • How the Dual Currency product was born

Assessment - Team Presentation

Assessment - MCQ

Ng Jui Kheng

BBA, MSc Financial Engineering

Jui Kheng possesses 38 years of working experience in the financial industry. He started his career in 1979 as a money broker. After 6 years, he left the money broking industry to join a top American bank in the treasury department. He held various roles ranging from futures broker, treasury salesman, and derivatives trader. He traded in forward rate agreements, currency options and interest rate swaps. He is the creator of the Dual Currency product (originally known as Premium Deposit).

After 20 years in the treasury department, he switched to Private Banking as a product specialist in currency trading and fixed income. He later joined another French Private Bank as an investment counsellor and eventually became a Relationship Manager. He retired in July 2017, after 12 years in the Private Banking sector.

Jui Kheng holds a Masters in Financial Engineering degree from National University of Singapore, and a Bachelor of Business Administration from National University of Singapore. He is a recipient of the Centre for Financial Engineering Director’s Award.

IBF-STS

This programme has been accredited under the IBF Standards, and is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met. Candidates are advised to assess the suitability of the programme and its relevance to participants’ business activities or job roles.

For latest development on the Enhanced Funding Support for IBF-STS, please visit the IBF Standards Training Scheme site.

About the IBF Standards

The IBF Standards are a set of competency standards for financial skills. These Standards are developed in partnership with industry leaders and provide a professional development and skills roadmap for financial sector practitioners to excel in their respective job roles. They currently cover 12 industry segments in the financial sector.

About the Institute of Banking and Finance Singapore

The Institute of Banking and Finance Singapore (IBF) is the national accreditation and certification agency for financial industry competency in Singapore under the IBF Standards. Find out more on www.ibf.org.sg

Early Bird Discount

Enjoy 10% early bird discount when you register one (1) month before the course commencement date.

Product Advisory - Product, Sales and Market Management

IBF-STS

Newly Accredited
Course Features
  • Duration
    1 Day
  • CPD
    8 Hours
  • Job Role
    Relationship Manager
This course is offered for our on-site corporate classroom training.
Need More Info?
Thank you for your interest in this course. We will be in touch soon.