Summary
Date Posted: Saturday, August 05 2023, Base Salary: Not Disclosed

JOB DETAILS:
Job Summary
The role holder will have principal responsibility for ensuring income targets are met for Retail & Business Banking products. This will be achieved by establishing and implementing the local product pricing strategy and identifying opportunities for new product developments and enhancements in line with the Retail & Business Banking Strategy

Job Description
In accordance with their income responsibility, the role holder will advise on the most appropriate interest rate strategy for each product, covering balance sheet and income impacts.
The product manager will also contribute ideas for alternative product strategies to manage the Retail & Business Banking Asset book
Continuously review customer segmentation basis and recommend suitable product activity to target and sustain viable segments in line with Retail & Business Banking Strategy.
Risk and Control: Continuously review product processes to identify areas of real and potential risk within the Product |
Product Analysis: Review Product process to continuously look for enhancements within the product process |
Stakeholder Management: Manage relationships with critical stakeholders such as tech, operations, channel etc to ensure optimal product delivery end to end |
Team management: Manage a team |

Business Direction 50%:
Outputs:
• The role holder will have principal responsibility for ensuring income targets are met for Retail and Business Banking products. This will be achieved by establishing and implementing the local product pricing strategy and identifying opportunities for new product developments and enhancements in line with the Retail Strategy.
• In accordance with their income responsibility, the role holder will participate actively in local ALCO meetings, advising on the most appropriate interest rate strategy for each product, covering balance sheet and income impacts. The product manager will also contribute ideas for alternative product strategies to manage the Asset & Liability book
• Continuously review customer segmentation basis and recommend suitable product activity to target and sustain viable segments in line with Retail Strategy.
• Monitor and provide feedback to centre on local competitor product activity, including pricing
• Undertake product legal and regulatory assessment as required
• Research and propose suggestions for new products and product enhancements to Centre
• Provide and analyse product income data for Local and Centre management information
• Co-ordinate production of a uniform Tariff for Retail and Business Banking customers, which is easily understood by customers and staff and easy to administer.

Business Management 30%:
Outputs:
• Manage the process for interest rate changes in line with Central guidelines and governance
• Monitor adherence to agreed product pricing strategy, rectifying errors where identified
• Work with Retail and Business BankingSales teams to ensure appropriate product sales processes are in place
• Provide business input for implementation of new products by:
• Engaging relevant stakeholders
• Building a business case
• Managing the development process where required
• Completing all local product testing
• Building a detailed local implementation plan
• Closely monitoring local implementation
• Give necessary notices to local government/regulators and public of product and price changes
• Liaise with Local Operations Centres, regularly reviewing all operational standards for product profitability, and identifying skills gaps.
• Review and feedback into customer satisfaction surveys, responding to customer product complaints.
• Liaise with People Development and Sales Management functions to design and deliver appropriate training, and give input into sales strategies.

Provide Powerful Leadership 10%
Outputs:
• Provide clear direction of the Absa business objectives by translating business performance objectives and measures into clear, concise communication
• In the way you lead on a daily basis, be a role model for your colleagues, doing things wholeheartedly, communicating with passion and enthusiasm, embracing change as a way of working.

Relationship Management 10%
Outputs:
• Develop and maintain excellent relationships with Business functions as well as Communication Managers and the PR function.

Knowledge, Expertise and Experience & Qualifications
Outputs:
• A comprehensive knowledge of Absa products and systems that support them, and a good understanding of Absa products.
• A detailed understanding of product offerings in the wider financial services industry.
• A detailed knowledge of Absa strategy and policies
• Detailed knowledge of consumer buying behaviour, marketing techniques and evolving trends
• An understanding of customer segmentation theory and practice.
• A detailed understanding of industry, advisory, regulatory and professional bodies
• A good understanding of legislation related to financial services and channel delivery
• A good knowledge of constructing reports, executive summaries and briefs

Other requirements specific to the role:
• Able to deal professionally, confidently and effectively with staff at all levels, internally and externally
• Ability to work autonomously
• Ability to keep abreast of industry changes in both the business and marketing environments

Training likely to assist effectiveness in the role and may have been completed prior to undertaking this role:
• Project management
• Time management and personal organisation
• PC skill in Microsoft office, excel and word packages or equivalent
• Campaign/advertising management

Additional details of exceptional aspects of the demands of the role:
• Able to work under pressure and adhere to strict and tight deadlines on a wide range of tasks
• Able to keep abreast of developments in the business and financial services environment
• Appreciate changes in technology and delivery channels and their impact on the financial services environment.

Education
• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)


Job Experience: No Requirements

Work Hours: 8

Experience in Months:

Level of Education: Bachelor Degree

Job application procedure
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