Develop financial products

Take into account the performed financial market research and the organisation’s objectives in order to develop and oversee the implementation, promotion, and lifecycle of financial products, such as insurance, mutual funds, bank accounts, stocks, and bonds.

implement financial products
establish financial products
develop financial product
create financial products
create a financial product

skill/competence

sector-specific

Develop financial products is an essential skill of the following occupations:

Insurance product manager: Insurance product managers set and direct the development of new insurance products, following the product lifecycle policy and the general insurance strategy. They also coordinate the marketing and sales activities related to the specific insurance products of the company. Insurance product managers inform their sales managers (or the sales department) about their newly developed insurance products.
Investment fund manager: Investment fund managers implement and monitor the investment strategy of a fund. They manage the fund’s portfolio trading activities and supervise the financial, securities, and investment analysts in charge to perform research on the investments and then make buying and selling recommendations. They make decisions on when to buy or sell the assets included in a portfolio. This manager works in a variety of settings such as banks, companies and stockbroking companies; working closely with the investment analyst. This occupation manages strategy and does not always work with relations between shareholders or investors.

Develop financial products is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Pension scheme manager: Pension scheme managers coordinate pension schemes in order to provide benefits in retirement to individuals or organisations. They ensure the daily deployment of the pension fund and define the strategic policy for developing new pension packages.
Human resources manager: Human resources managers plan, design and implement processes related to the human capital of companies. They develop programs for recruiting, interviewing, and selecting employees based on a previous assessment of the profile and skills required in the company. Moreover, they manage compensation and development programs for the company’s employees comprising trainings, skill assessment and yearly evaluations, promotion, expat programs, and general assurance of the well-being of the employees in the workplace.

References

1. Develop financial products – ESCO