Product Manager

National Savings and Investments

Apply before 11:55 pm on Monday 23rd May 2022



Reference number



37,500 - 40,000
c40,000 London; c37,500 Durham, Lytham, Glasgow


Senior Executive Officer
NS&I Band 4

Contract type


Business area

NS&I - Retail

Type of role

Project Delivery

Working pattern

Flexible working, Full-time, Compressed Hours

Number of posts



Durham, North East (region), DH1 1SL : Lytham St Anne's, North West (region), FY8 4TS : Glasgow, Scotland, G2 8JX : City of Westminster, London (region), SW1V 2QX


We are currently seeking a Product Manager to manage individual products from the NS&I retail product portfolio strategically and tactically.

Job description

The role will require making reasoned recommendations in terms of pricing, product features, customer proposition and enhancements to help NS&I maintain a balanced portfolio that meets the targets agreed with HM Treasury (HMT) and evolving consumer needs.


Pricing - Ownership and management of the allocated product portfolio to achieve the agreed annual Net Financing (NF) and Value Indicator (VI) target.

Product Management - Reviewing and understanding the wider competitor/economic market and NS&Is position.

Customer - Develop a deep understanding of consumer needs / values and how these impact product design and range.

Promotion - Supporting retention, planning and forecasting to retain customers by monitoring weekly retention figures and making recommendations on campaign initiatives and forecasting monthly/annual retention figures.

Channel - Working with key stakeholders to model/forecast initiatives to ensure appropriate resourcing and risk identified.

Process/Customer Experience - Commissioning research, working with the Experience team to recommend product enhancements and changes to products.

Full details can be found on the attached Role Profile.


We'll assess you against these behaviours during the selection process:

  • Making Effective Decisions
  • Managing a Quality Service
  • Working Together
  • Seeing the Big Picture

Technical skills

We'll assess you against these technical skills during the selection process:

  • Experience of product management to include analytical pricing skills, in a regulated environment, preferably within financial services
  • A track record of delivery in large and complex environments, including the ability to deliver key projects in accordance with direction from the line manager.
  • Advanced knowledge of Excel and PowerPoint
  • Number orientated, with robust analytical capability, with a problem solving mind set
  • Ability to articulate analysis and ideas through clear and coherent verbal/written presentations.
  • Passionate about the customer, anticipating and identifying customer needs and responding appropriately to improve the product experience within a changing environment.
  • Excellent communication skills and ability to manage relationships effectively across the business and externally where relevant.
NS&I is one of the largest savings organisations in the UK with 25 million customers and more than 202 billion invested. We are both a government department and an Executive Agency of the Chancellor of the Exchequer. Our origins can be traced back over 150 years to 1861.

A small company with a big reach we offer a range of benefits to include flexible working, great opportunities for development and a generous pension scheme. We care for colleagues, respect one another, invest in our people and manage talent effectively.

Some benefits of working at NS&I include:

Generous and tailored L&D offering
Hybrid working
Two contributory pension schemes (Alpha & Partnership Pension)
9 day fortnight scheme
Generous annual leave starting at 25 days, increasing to 30 days

Please see the attached document for full list of available benefits.


Successful candidates must pass a disclosure and barring security check.
Successful candidates must meet the security requirements before they can be appointed. The level of security needed is security check.

See our vetting charter.
People working with government assets must complete basic personnel security standard checks.

Selection process details

This vacancy is using Success Profiles, and will assess your Behaviours, Experience and Technical skills.
To apply please click the link on this advert and follow the steps to complete the application form.

We will sift applications based on the criteria stated above as well as your job history and statement of suitability.

If shortlisted you will be invited to attend a 1hour panel interview via video call.
Immediately prior to the interview you be required to complete an assessment to test your Excel skills (maximum 30 minutes). During the interview you will be asked to give a presentation (maximum 10 minutes). Full presentation details will be given ahead of the interview.

Interviews will take place week commencing 6th June 2022.

Note we are unable to accept CVs.

This role is subject to Baseline Personnel Security Standard and financial credit checks.

Reserve List
A reserve list may be held for a period of 12 months from which further appointments can be made.

Working for NS&I
NS&I is currently trialling a Hybrid Working Policy and colleagues are expected to work in one of our office locations London, Durham, Lytham or Glasgow a minimum of two days per week. Depending upon the outcome of the trial, the number of occasions you are expected to attend the office may change.

Any move to NS&I from another employer will mean you can no longer access childcare vouchers. This includes moves between government departments. You may however be eligible for other government schemes, including Tax-Free Childcare. Determine your eligibility at

If you are applying for a role at the same NS&I band as you are currently and the advertised salary is lower than your current salary, if you are successful and accept the role you will need to accept the role at the advertised salary, which would involve your current salary being reduced to the advertised amount.

Further information
Please visit our website for further details about NS&I.

The law requires for selection for appointment to the Civil Service is on merit on the basis for fair and open competition as outlined in the Civil Service recruitment principles. If you feel your application has not been treated in accordance with the recruitment principles and you wish to make a complaint, you should contact in the first instance. If you are not satisfied with the response you receive, you can contact the Civil Service Commission

Feedback will only be provided if you attend an interview or assessment.

Nationality requirements

This job is broadly open to the following groups:

  • UK nationals
  • nationals of Commonwealth countries who have the right to work in the UK
  • nationals of the Republic of Ireland
  • nationals from the EU, EEA or Switzerland with settled or pre-settled status or who apply for either status by the deadline of the European Union Settlement Scheme (EUSS)
  • relevant EU, EEA, Swiss or Turkish nationals working in the Civil Service
  • relevant EU, EEA, Swiss or Turkish nationals who have built up the right to work in the Civil Service
  • certain family members of the relevant EU, EEA, Swiss or Turkish nationals
Further information on nationality requirements

Working for the Civil Service

The Civil Service Code sets out the standards of behaviour expected of civil servants.

We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles.
The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.
The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.
Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.

Contact point for applicants

Job contact :

  • Name : NS&I HR Team
  • Email :

Recruitment team :

  • Email :

Further information

If you have a complaint concerning this recruitment campaign, please send your complaint to

Share this page