Executive: Banking Solutions - Sandton at Absa Group Limited (Absa)

Job Summary

• The Head of Product General Banking Solutions is responsible for leading the product management function of General Banking Solutions in the Product business area within Relationship Banking. General Banking Solutions covers the following product transactional banking, savings and investments, forex, deposits and overdrafts. The role is accountable for the end-to-end product management and product performance in line with the targeted STP and MTP. 

The primary purpose of the role is to: 

• Develop and drive the strategy of the General Banking Solutions , simplify delivery and ensure market leading product design, coordination, and prioritization around product development, management and enhancement
• Manage product P&L performance to support Product and Relationship Banking in achievement of our strategy to outperform. 
• Drive new and innovative solutions that will ensure sustainability of the business and introduce new revenue streams where appropriate. 
• Manage the embedment of the product across the value chain in ensuring the client and colleague experience aligned to segment strategies.

Job Description

Key Accountabilities

Accountability:  Product Performance

• Accountable for managing the commercial performance (P&L) of General Banking Solutions.
• across the product lifecycle in support of our Product financial objectives for all the product sets.
• Interlock with Sales, Governance and Risk, , Operations, and other key stakeholders to enable the desired customer and commercial outcome.
• Identify and manage key value drivers of performance for General Banking Solutions.
• including financial (revenue, impairments), cost management (direct and indirect), balance sheet management/optimization, pricing, etc.
• Monitor the continuous product performance, client experience and front line colleague experience in removing or reducing any blockers to performance.

Accountability: Product Management, Innovation and Digitization 

• Accountable for all product management activities including design, development, taking to market and run of compelling and commercially viable product propositions spanning the product lifecycle
• Deliver insight-led propositions that seamlessly integrate into segment and sector value propositions to support and enable the acquisition and retention of customers in specific segments and sectors to support the targeted commercial and customer shapes
• Identify, through market interaction, key trends to ensure product relevance.
• Ensure that an overall product portfolio roadmap is maintained and monitor the performance of the overall portfolio in the context of financial objectives and targets
• Working together with the Product Digital channel to digitize offerings where appropriate.
• Driving all innovative solutions aimed at taking advantage of new developments in the industry.
• Direct and influence the management and prioritisation of the existing portfolio and new solutions through a product development pipeline from idea generation and business evaluation
• Accountability: Collaboration, Relationship Building and Thought Leadership
• Develop and maintain networks within Relationship Banking and within the  Absa Group across critical areas, including but not limited to other product owners and the segments sales team.
• As product owner be sought out for your thought leadership on General Banking Solutions.
• within the bank and externally promoting the credibility and the business’s capabilities.
• Maintain an excellent understanding of technical expertise, and remain up to date with relevant sector knowledge, have insight into external market developments/initiatives and strategic implications thereof.
• Share best practice and industry knowledge with stakeholders, subordinates and broader team to maximise BU performance.
• Create value for all stakeholders by identifying and effectively collaborating with external partners

Accountability:  Risk Management and Compliance

• Ensure that processes, control requirements and risk management frameworks that impact the area are documented and understood by all members of the team
• Ensure there are proper internal audit procedures and the timely resolution of all audit  findings
• Ensure that all key risks are allocated to responsible individuals and that they are aligned to, managed and reported on through the governance framework
• Ensure that the team understands all compliance requirements and that all regulatory requirements are adhered to

Accountability:  People Management

• Lead, develop, and motivate the General Banking Solutions  Product team – including responsibility for performance management, development, under-performance, training, assuming reward and recognition, grievance cases, and discipline.
• Appropriately resource the team to execute on the strategy by recruiting and attracting talent to the organization.
• Create a high-performance environment and effective team working.
• Provide continuous coaching and mentorship to the team

Education and Experience Required

• Post Graduate degree or MBA (NQF Level 7) preferable
• Ten (10) plus years within Banking or a Financial Insitution
• Relevant product knowledge including knowledge of transactional banking, savings and investments, forex, deposits and overdrafts.
• Excellent understanding of how to commercialise a product and mobilise front line teams to ensure the performance of the product.

Knowledge & Skills:

• Management and Leadership skills
• High quality written and verbal communication and presentation skills
• Technical Knowledge
• Commercial effectiveness
• Risk and Fraud Management
• Financial Acumen
• Interpersonal and communicating skills
• Relationship Building and Networking skills

Competencies: 

• Managing Relationships
• Influencing People
• Commercial Effectiveness
• Leading and supervising
• Deciding and initiating action
• Relating and Networking
• Formulating strategies and concepts
• Applying expertise and technology

Education

• Bachelor Honours Degree: Financial Economics, Bachelors Degree and Professional Qualifications, Doctoral Degree, Master's Degree: Economics