Product and Pricing Manager

NS&I is one of the largest savings organisations in the UK with more than 24 million customers and over £240 billion invested. We are both a government department and an Executive Agency of the Chancellor of the Exchequer. Our origins can be traced back more than 150 years to 1861.

A small company with a big reach, we offer a range of benefits including flexible working, a 9-day fortnight scheme, a performance-related variable pay bonus, a generous pension scheme and great opportunities for development. We care for colleagues, respect one another, invest in our people and manage talent effectively.

We are currently working in a hybrid way with colleagues expected to work at their chosen office location for 40% of their working month.

Purpose of Role

13-month fixed-term contract to support Product Team resourcing through business transformation. Responsibilities, as designated by the Senior Product Manager. Ownership of individual products from the NS&I retail product portfolio strategically and tactically, 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.

Key Responsibilities

Pricing

• Ownership and management of the allocated product portfolio to achieve the agreed annual Net Financing (NF) target.
• Analyse data and insights to put forward pricing recommendations to the appropriate audience (to include Senior Product Manager, Head of Product, Retail and Pricing Committee), ensuring that pricing recommendations balance our pricing principles and achieve targets.
• Prepare NS&I Pricing Submissions (with appropriate support) to be escalated to HMT and the Economic Secretary of the Treasury (EST) for approval.
• Analysing sales/retention/market figures and trends to maintain a deep understanding of external markets regarding pricing of equivalent products and full appreciation of sensitivities regarding how NS&I sales, retention and levels are impacted by price.

Product Management

• Reviewing and understanding the wider competitor/economic market and NS&I’s position.
• Ownership / development and management of allocated product portfolio to ensure sustainable NF for the future, including input into the product strategy review and planning process.
• Understanding of the complete product lifecycle and making recommendations for enhancements where necessary to meet with customer, business and legislative requirements using research and consumer insights.
• Recommendations of enhancements ensuring alignment with NS&I strategy and Service Delivery Measure (SDM) targets to meet customer needs.
• Product Owner/Business Manager of key projects (i.e. product enhancements and new product development): Own business decisions and outcomes for assigned projects and initiatives; influencing decisions on project delivery by representing projects and the team at relevant committees and decision-making forums; leading on and liaising with key stakeholders; being responsible for making key business decisions, business case sign off and other key project gateways; being accountable for approval gateways (product enhancement process).
• Managing the flow of requirements from the product backlog into planning
• Working with key stakeholders/team members to break down areas into workable elements and put together in ways that support development and business users.
• Helping specify story acceptance criteria, including customer testing and witness testing.

Customer

• Developing product specific pricing strategies, ensuring that all regulatory, Treating Customers Fairly (TCF), Consumer Duty and policy considerations have been covered in the decision-making process.
• Develop a deep understanding of consumer needs / values and how these impact product design and range.
• Supporting the Senior Product Manager in product and channel sales plans and forecasts.

Promotion

• Ensuring product marketing activity benefits NF and customer needs.
• 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.
• Driving digital solutions in product design.

Process/Customer Experience

• Commissioning research, working with the Experience team to recommend product enhancements and changes to products.
• Leading on user testing to assist with managing customer reaction to product changes and developments.
• Understanding the customer needs, competitive market and emerging trends.

Please see attached role profile for full details.

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

This vacancy is using Success Profiles (opens in a new window), 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.

In your application you will be asked to provide the following:

• A 250 word personal statement on the key essential experience stated in the role profile. Please use examples from your experience and knowledge to demonstrate how you meet them addressing the essential criteria in the Person Specification. We would recommend using the STAR ‘situation, task, action, result’ method of giving examples.
• A 250 word statement for each of the selected technical skills:
• Product management experience, including 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 their line manager.

We will assess applications on your career history, personal statement and technical skill statements

In the event we receive a large number of applicants, applications will be sifted first on the two Technical Skills stated above. Only those that meet the minimum acceptable score for these criteria will qualify for the full sift and be considered for interview.

If shortlisted, you will be invited to attend a 1 hour panel interview via video call.

As part of this interview you will be asked to make a 10 minute presentation aimed at demonstrating your ability to articulate analysis and ideas through clear and coherent verbal/written presentations.

Interviews are planned to take place on the 2nd and 3rd of December 2026.

Note we are unable to accept CVs.

Right to Work

As part of our recruitment process NS&I will ask about your right to work status. Candidates must have the right to work in the UK and meet eligibility requirements to work within the UK Civil Service.

If applying for a role on a fixed-term contract, you must hold a valid visa that covers the full duration of the contract, or at a minimum, the majority of the term.

Please note we are currently unable to offer visa sponsorship, as a result candidates requiring sponsorship are not eligible to apply.

Security and Credit Checks

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

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 https://www.childcarechoices.gov.uk/.

For NS&I employees: If you are applying for a role at the same NS&I band as you are currently and the advertised salary of the role is higher, if you are successful, any salary increase will be at the discretion of NS&I and will be reviewed as part of the next annual pay review, in accordance with the NS&I employee handbook.

For Existing Civil Servants: If you are transferring from another government department at the same grade, your current salary will generally be matched within reasonable parameters and subject to NS&I pay ranges. If you are transferring on promotion, you will be offered the starting salary at the bottom of the pay scale. If you are transferring on promotion and your existing salary is within the advertised range, you will be offered a maximum of a 10% uplift on your existing salary (up to the advertised maximum).

For External Candidates: If you are not currently employed within the civil service, you will be offered the starting salary at the bottom of the advertised pay range.

Further information

Please visit our website http://nsandi-corporate.com/about-nsi for further details about NS&I.

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