What is Product management in Fintech?
Product managers roles can be defined quite broadly and the specifics can change position to position, however, in general, they are in charge of overseeing the creation and development of Fintech services, as well as responsible for the whole lifecycle and the long-term strategy of the product. The pay scale for IT & Operations range from $69k to $146K per annum. Qualifications for these roles include bachelor’s degree in a relevant field is sometimes required, however, for more senior roles such as Product Manager, professional achievements usually carry more weight.
To learn more on the how to thrive in product management roles in Fintech, read more here.
Top skills to to work in Product management in 2022
Product managers roles in Fintech require one to be equipped in:
- Hard skills such as Product analytics, Product testing methodologies and tools, Customer research methodologies, Data analytics and data science are important in Risk and Compliance and Data centric roles
- Soft skills such as Excellent communications skills, Cross-functional collaboration, Good organisational skills, Stakeholder management, Multitasking
- Mindset such as Customer centricity and user empathy, Problem solver, Leadership
- Industry Knowledge such as Professional experience as a product manager, Industry experience (Fintech, Tech, Financial Services.
Is work experience needed to to work in Product management?
Experience in similar roles are quite important in Fintech or tech companies. In product management roles participating in training through projects is also beneficial as this helps with professional expertise and knowledge. However, these alone are not enough as certifications in the specific roles are mostly sought after in job descriptions.
How to become a Product management ideal candidate in Fintech?
Certifications: Undergraduate degree are rarely required, however, for more technical roles a degree in Engineering, Computer Science or any comparable course can be an advantage
Experience: Experience in similar roles across industry are quite sought after especially in product management or a senior technical officer which may require a candidate being aware of the company’s operations or the industry knowledge.
Skills: While hard skills and industry knowledge is important in getting interviews and jobs. Soft skills and mindsets go a long way in building your Fintech career.
Top Product management roles in Fintech
Product Manager – Core Business
Previous work experience is key in this position and may involve previous roles such as A/B testing, analytics etc. and key requirements are experience in customer research, product management in Fintech, Finance or Tech.
Product Manager – Platform
This is normally not an entry level role but the emphasis is more on practical and professional experience from E-commerce. Proficiency in analytics and communication is the minimum requirement in this role.
Product Manager – Risk & Compliance
These roles may not be entry level and require practical knowledge of product security and regulations with certifications on CISA, CISSP or other relevant certification.
Product Manager – Data
The most notable requirement for these roles are programming languages, data bases and ML technologies. A degree in Computer Science, Engineering or Statistics may be required by most companies.
These roles offer opportunities from entry level to senior positions with companies mostly interested with professional experience or hands-on training in product management by industry experts. Understanding a company’s specific needs and the skills required in your role goes a long way in switching industries or Fintech sectors for Product management roles. Read more here.