Manager: Business Development, Research and Innovation at Nedbank

To Apply design thinking methodology in creating client-centric solutions.

Collaboratively work with cross functional teams( Distribution, Customer experience and Client solutions within Nedbank Insurance to achieve shared goals in the delivery of product and client solutions

Identify product gaps using client needs analysis to increase economic profit from new and existing clients in order to achieve the banks strategic objectives and create shareholder value.

Job Responsibilities

• Product development and related research for client needs based solutions
•  Market research and product prototyping
• Conducting root cause analysis
• Analysing situations or data that requires an evaluation of multiple factors
• Building and maintaining effective cross-functional relationships with internal and external stakeholders
• Analysing and interpreting qualitative and quantitative data
• Brainstorming ways of improving a product or situation
• Challenging the status quo with a view to improving the environment or people's understanding
• Conducting product gap analysis  and using the identified gaps to inform future product roadmaps
• Coordinating and securing buy-in and necessary funding resources for new solutions from internal stakeholders.
• Comparing two or more sets of information
• Conducting competitor analysis with identified product market
• Providing professional advice/opinion  on product related matter and related insurance operational procedures
• Contribute to a culture conducive to the achievement of transformation goals by participating in Nedbank Culture building initiatives (e.g. staff surveys etc).
• Participate and support corporate responsibility initiatives for the achievement of business strategy (e.g.. Green Strategy.
• Seek opportunities to improve business processes and systems by identifying and recommending effective ways to operate and adding value to Nedbank.
• Identify and confirm own financial targets by aligning with business unit targets.
• Achieve or exceed targets by developing and implementing account plans for clients and targetting new busines
• Develop an account plan for each client using knowledge of the client's needs and by engaging with relevant stakeholders to identify tailor-made solutions to meet the client's needs.
•  Manage costs by monitoring expenses and keeping within budget parameters.
• Achieve economic profit by reviewing pricing annually and making required adjustments.
• Provide relevant recommendations by maintaining sound knowledge of bank's products and solutions; staying abreast of the market and business environment; by using research conducted by bank economic unit and by reading economic and financial material.
• Meet client and bank needs by confirming that recommended solution is in line with bank guidelines for economic profit; bank business needs and regulations and by managing client expectations.
• Support the implementation process by communicating with the client and internal stakeholders; monitoring progress; gathering feedback and taking corrective action.
• Achieve agreed objectives within cost and time parameters by identifying potential and actual problems and working with relevant stakeholders to find solutions.
• Manage all risks and ensure compliance by following regulatory requirements and bank's internal policies and procedures; identifying risks and non-compliances and taking corrective action.
• Recommend improvements for efficiency and competitve advantage by providing client and market feedback to relevant stakeholders.
• Provide a single interface for the client to the bank by having sound knowledge of the bank's products; services and solutions and by coordinating with relevant stakeholders.
• Establish and maintain relationships with relevant stakeholders (internal and external providers) by engaging with them formally and informally e.g. in meetings; problem solving sessions and training sessions.
• Proactively recommend tailor-made solutions to meet the client's needs by gaining an intimate understanding of the client's business and business environment; and by consulting with relevant stakeholders.
• Support the achievement of the business strategy; objectives and values by reviewing Nedbank and Business Unit Plan and ensuring delivered systems; process; services and solutions are aligned.
• Identify training courses and career progression for self through input and feedback from management.
• Ensure all personal development plan activities are completed within specified timeframe.
• Share knowledge and industry trends with team and stakeholders during formal and informal interaction.
• Obtain buy-in for developing new and/or enhanced processes (e.g. operational processes) that will improve the functioning of stakeholders' businesses by highlighting benefits in support of the implementation of recommendations.

Behavioural Competencies

• Enable the creation of client centric solutions
• Explore, assess and to evaluate business opportunities for NIR growth
• Enable the creation of appropriate solutions for Nedbank clients in line with Nedbank’s financial inclusion agenda
• Monitor/track the viability of launched initiatives
• Provide relevant insights (strategic, client, thought leadership, product relevant, or competitor insights) to appropriate stakeholders
• Drive and manage project work stream related deliverables necessary for the launch of new / planned initiatives and track all Governance Approvals for each new initiative before launch
• Inculcate and drive a culture of performance
• Becoming a Business Advisor
• High-Impact Communication
• Ability to negotiate the commercials for any business development opportunity
• Sizing market opportunities and identifying relevant target market backed by research

Key Requirements

• Degree or diploma at NQF Level 6 in commerce, business, finance or law.
• 8 years experience in a product development or Business development or relationship management role in a banking environment.