What is Product Management in Financial Sector?

Product & Design
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If in search of a job as a product manager in the financial services industry, you’ll want to understand the job’s specifics and how it differs from other sectors.

WHAT IS PM IN BANKING?

  1. As a product manager, you will be in charge of creating a product that others will sell. This entails supervising a product’s development, marketing, and distribution.

  2. You’ll need to plan, research, develop outcomes, mitigate risks, identify marketing opportunities, lead a team, and collaborate well with others.

  3. A degree in finance, marketing, business management, or another related field of study usually helps (but is not required) to better understand and have a better chance of working in financial services.

Although it’s a bit of a catch-22, a background in financial services, particularly accounting, is advantageous.

So, how does this job differ from others in product management?
Because there is a preference for financial skills, being confident in analyzing financial data, predicting profits and losses, and modeling product costs and margins is advantageous. One must be strong in persuasion and pitching skills because you’ll have several stakeholders, all with a vested interest in the product.