Head, Product Management at Standard Bank Group

Job Description

• To participate in delivering a sustainable economic profit at an income statement level for the PPB SA: Savings & Investments portfolio.
• To participate in the development of the strategic direction for the S&I business and drive the implementation in line with the overall PPB SA strategy.
• To research, develop, implement and manage the product offerings providing customer value and delivering portfolio targets
• To develop and execute a sales strategy and post-sales activities for the S&I portfolio in collaboration with Segment and Coverage to drive value to customers and profitability for the bank
• To develop and execute a revenue generation strategy in order to maximise the return from the existing S&I portfolio.
• Product innovation considering competitor performance, market needs and global trends.

Qualifications 

• Post Graduate Degree in Business Commerce

Experience Required

• 5-7 years of experience in product management, product enhancement and building competitive products that meet customers’ needs.
• 5-7 years’ experience in understanding income statement and balance sheet metrics and drivers of an S&I business.
• 5-7 years of experience in building and maintaining relationships with key stakeholders and Industry Leaders, engaging on customer discovery and delivery design, to understand and deliver on current need and maintain competitive advantage in market.
• Maintain Partner relationships by engaging, liaising, and collaborating with Execution partners to ensure growth and sustainability of the product.
• 5-7 years’ experience in driving a multifunctional team, leading people, and delivering on strategic and tactical initiatives

Key responsibilities

Deliver Economic Profit 

• Develop and implement a strategy to grow and achieve deposits market share aspirations, including defining the product continuum, formulating annual budgets/periodic forecasting of sales and financial targets
• Develop, review and implement appropriate product pricing and philosophy in collaboration with the Pricing & Product economics teams

Develop Sales Strategy

• Grow the S&I account base and balances as agreed with Segment & Coverage to achieve sustainable economic profit

Manage Product Offering and Performance

• Ensure alignment of pricing across products in line with the Group pricing guidelines Develop and implement product propositions that are aligned to customer propositions and segments.
• Develop and implement innovative products, products enhancements and re-defining efficient and effective business process to support the Product strategy

Develop Revenue Generation Initiatives

• Manage product life cycle end-to-end.
• Manage portfolio profitability through successful development and implementation of short- and long-term tactics, including customer acquisition, activation, cross selling, retention and strategic pricing initiatives
• Drive campaigns to achieve balance growth targets

Product portfolio

• Develop and implement a 1-year operational roadmap for the S&I business which includes a competitor analysis, customer segmentation and value proposition build and product development to drive Balances and revenue goals for the business.
• Obtains investment from appropriate bodies (investment committees) by identifying opportunities aligned to business strategy for revenue generation or cost avoidance and develop business cases to deliver an attractive return on investment (ROI) for the S&I business.
• Recommend enhancements and developments to the S&I product capabilities.

Marketing

• Develop the Annual Marketing strategy encompassing brand strategy, existing customer marketing and internal marketing to drive balances growth aspirations
• Drive the Annual Marketing Plan for allocated products/ portfolios and ensure the successful implementation thereof.

Manage Relationships

• Integrate work streams/projects to ensure stated objectives are achieved on schedule. This includes effectively managing both internal and external support areas
• Maintain solid relationships with internal & external business partners to ensure smooth delivery of stated business objectives and projects.

Leadership and People Management

• Manage day to day function of the Product Management Team
• Provide leadership and direction, growing and developing direct report(s).

Customer Service

• To ensure customer satisfaction by delivering and maintaining a world class service experience
• Measure performance and quality of customer touch points
• Perform touch point management to ensure optimal performance
• Support strategy development process through providing customer insights, needs, behavior, expectations and competitive performance

Stakeholder management

• Engage and influence key stakeholders (e.g. Segments – Youth & Mass, Middle, Prestige, Private and W&I, TPS, Treasury & Capital Management (TCM), and relevant management committees in order to drive the S&I strategic agenda).

Risk and compliance management

• Ensures no adverse audit or pre-audit reports on operational risk by managing the Risk and Compliance Self-Assessment (RCSA) and constant evaluation of processes.