Manager Pricing and Profitability (VAF) – JHB at Absa

Job Summary

• To  plan, manage and monitor the implementation of pricing activities and processes in order to deliver on approved operational plans in an effective and efficient manner.

Job Description

• The purpose of the role is to develop, implement and monitor the effectiveness of the Pricing strategy for Vehicle Asset Finance (VAF) Credit Risk. This includes usage of the Profitability Model to monitor expected profitability of new business, estimate total book profitability (including fair value assessments), facilitate changes to the pricing strategy and challenge and enhance the pricing control environment.

Job Description

Accountability: Profitability Model Maintenance 

• Maintain and enhance the Profitability Models used for VAF portfolios. This is to ensure all relevant financial, funding and risk inputs are updated on an on-going basis, and ensuring the model adheres to the relevant group model risk policy requirements.

Accountability: Monitor and Report on Estimated Profitability 

• Monitor and report new business expected profitability, considering pricing, risk profile, cost structure and funding costs.
• Monitor total book expected profitability, including fair value related assessments.

Accountability: Pricing Strategy 

• Based on above, challenge pricing strategy where appropriate and initiate changes to address concerns.
• This includes both variable and fixed rate pricing strategies.

Accountability: Pricing Control Environment 

• Monitor pricing exceptions.
• Based on above, challenge pricing control environment and facilitate changes as required – based on potential concerns identified.

Accountability: People Management 

• Ensure delivery of business goals by aligning Performance Development (PD) Plans of direct reports to the business goals.
• Instill a performance development culture through directing the PD process and adhering to the PD calendar.
• Pro-actively identify development areas of direct reports and compile development plans to address them.
• Attract and retain talent, with the assistance from the HR Business Partner.
• Interview and recruit new members of the team, including determining appropriate compensation levels with input from HR.
• Initiate disciplinary action process as and when required, with the assistance of the Employee Relations Consultant.
• Act as the first line of escalation for all grievances.
• Conduct monthly meetings with the team to address performance gaps.
• Effectively lead team members and ensure their efforts are recognized

Education and Experience Required 

• B-degree in risk management, statistical analysis Actuarial Science, Maths Statistics, Finance or equivalent NQF level 7 qualification  
• At least five (5) years credit risk experience required
• Experience in pricing and acquisition scorecards
• Experience in building models
• At least two (2) year management experience
• SAS and Advanced Excel capabilities

Knowledge & Skills: 

• Understanding of different Pricing methodologies and strategies
• Credit Risk Modeling
• Credit Pricing
• SAS
• Analytical skills
• Modelling skills
• Sound understanding of Financial and Management Accounting – Cost Allocation theories etc
• Good understanding of ABSA Pricing and Product systems
• Communication, Networking and People skills
• Understanding of customer analytics and segmentation models
• Understanding of statistical models
• Understanding of Customer Experience processes and policies
• Management Skills
• Project Management Skills
• Mathematical Skills
• Ability to manage diversity and complexity

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
• Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised