Head of Products Development Department

Full time

Yerevan

09 December 2026

Employment term Permanent

Category Banking/credit

Apply now

Job description:

ARMECONOMBANK OJSC (hereinafter referred to as the Bank) is seeking an manager to enhance the Bank’s product development and project management framework, from idea generation and economic justification to timely implementation and measurable results.

The Department is a key unit responsible for coordinating the Bank’s development activities and operates under the supervision of the Deputy Chief Executive Officer for Development (CDO). The Department acts as the owner of the Bank’s products.

Job responsibilities

KEY RESPONSIBILITIES

Portfolio and Business Requests

Develop a product roadmap aligned with the Bank’s strategy, taking into account proposals from business units, and submit it to the relevant governing bodies for approval.
Ensure the effective implementation of a unified system for receiving ideas and requests related to new products and product modifications, including evaluation, prioritization, and communication of statuses to business units.
Ensure feasibility assessments and preliminary revenue and cost analyses for new products and modifications, facilitate their review, and present the final results to the relevant governing bodies.
Monitor existing products and submit recommendations to the Bank’s Executive Board regarding their efficiency, promotion, or discontinuation.

Products

Ensure the effective implementation of a unified product launch process (request → concept and calculations → adjustments → development → pilot → launch → evaluation), with clearly defined control points and stakeholder responsibilities.
Ensure alignment of products with the Risk Management, Compliance, Legal, Finance, and Operations departments, as well as their compliance with the requirements of the Central Bank of Armenia.
Collaborate with the IT Department to develop digital products, define priorities, ensure release quality, and improve the customer journey.
Work jointly with business units and the Marketing Division to develop product distribution channels and go-to-market plans, coordinate the preparation of internal regulatory documents, and organize staff training across branches.
Conduct negotiations with potential partners, including payment systems, fintech companies, insurance providers, and retail businesses, and develop the Bank’s customer loyalty program.

Projects

Monitor the timelines, budgets, and risks of key projects, reallocate resources across projects, and escalate issues.
Monitor the l revenue and cost performance of new products and partnership projects after launch, and submit reports to the CDO and the Bank’s Executive Board.
Participate in projects involving international financial institutions, particularly with regard to product-related and project reporting.

Team and Processes

Continuously develop the team through recruitment, goal setting, performance evaluation, mentoring, and professional certification.
Continuously improve internal regulations related to the Department’s functions.
Introduce Agile practices and tools wherever they improve speed without loss of control.
Prepare quarterly work plans and reports on the Department’s activities.

Required qualifications

- Higher education in Economics, Finance, Management, or a related field.
- At least 7 years of professional experience in banking, including at least 3 years of experience leading a product or project management team.
- Proven experience in launching banking products from concept to measurable results and managing large-scale cross-functional projects involving IT (considered an advantage).
- Knowledge of Armenian banking legislation and regulations of the Central Bank of Armenia.
- Understanding of banking product economics, including pricing, profitability, and business cases.
- Practical experience with Agile/Scrum and traditional project management methodologies.
- Experience developing products in collaboration with business units (lending, cards, SME) and working with senior management, as well as strong negotiation skills with partners and suppliers.
- Fluency in Armenian and strong command of Russian and English (at least B2 level).

WILL BE CONSIDERED AN ADVANTAGE

- Experience establishing a Project Management Office (PMO) or transitioning a department to a product-oriented operating model.
- Professional experience in digital channels, payments, or online lending.
- Data processing skills, including BI tools, A/B testing, and product metrics.
- Professional certifications such as PMP, PMI-ACP, PRINCE2, CSPO/PSPO, or an MBA degree.

Professional Skills:

Product Management, Project Management, Agile/Scrum, Banking, Financial Analysis, Jira, MS Office.

Personal Skills:

Leadership, Stakeholder Management, Negotiation, Analytical Thinking, Communication.

Additional information

Additional information

An opportunity to initiate changes and have a direct impact on the Bank’s product strategy.
Competitive remuneration and an annual performance-based bonus.
Medical insurance and preferential terms for using the Bank’s products.
Training opportunities and international l certifications for both the Head of Department and team.

All the candidates shall send their CVs to hrm@aeb.am e-mail address. The subject field of the message should be filled with name, surname of the applicant and with the vacancy name. It is mandatory to attach photos to the CVs.

Only short-listed candidates will be informed.

Tel: 010 510 910 (Internal: 9604, 9605, 9661 (Personnel Management and Training Programs Division)

Professional skills

JIRA Scrum MS Office Agile

Soft skills

leadership