Fresh Jobs at Absa

Job Summary

Effective maximisation of a product’s appeal and effectiveness through all stages of the Product Lifecycle, ensuring that product or service profitability meets the needs of identified target audiences through various tasks and initiatives. All of which are informed through regular and ongoing customer needs analysis research.

Job Description

Effective maximisation of a product’s appeal and effectiveness through all stages of the Product Lifecycle, ensuring that product or service profitability meets the needs of identified target audiences through various tasks and initiatives. All of which are informed through regular and ongoing customer needs analysis research.

Key Accountabilties:

Facilitate the product development process

• Manage each product development implementing the gated process, from product concept, through to detailed design stage, implementation and post implementation review.
• Consult Group IT, Business Support areas, Compliance and Anti-Money Laundering in order to adhere to the New Product Development policy for each product development and enhancement project that fall into the NPA process
• Develop and implement new products that meet the defined retail target market, customer segment needs, strategic and operational requirements, which have been established via regular customer needs analysis and strategic reviews.
• Provide specialist product support and input into day-to-day business requirements, as the subject matter expert.
• Educate the customer and business units on Transactional Banking while delivering to the functional areas within the Retail Franchise
• Deliver the product enhancements and change activities aligned to the allocated tasks via the Transactional & Working Capital strategy
• Deliver initiatives that are aimed at enhancing the profitability of products in alignment with the product strategy by liaising with key internal stakeholders e.g. Pricing, Marketing, ECM, Sectors, Segments, Digital and Finance via the appropriate communication channels.

Product Management

• Manage the respective products by aligning to the product lifecycle stage i.e. from concept to back booking
• Understand and interpret products based on robust analysis and aligned with the respective portfolio strategy i.e. financial models, customer survey findings and overall product strategy. This insight will help to make informed decisions as to the future direction/strategy of the allocated product portfolio
• Assume responsibility for performance monitoring and proactive management of the products by understanding the key performance drivers including behavioural trends, financial indicators and growth/ performance metrics
• Develop a library with expert knowledge of the relevant product technically and operationally
• Report to EXCO and Product Head on the performance of own allocated portfolio
• Dashboard report on the individual products' performance and trends in the market
• Undertake regular competitor and non-competitor analysis in terms of product strategy, practices, and proactively
• Initiate product reviews based on trends identified to ensure ongoing product competitiveness

Product Governance

• Proactively identify risks and institute remedial measures to reduce undesirable exposure in the market
• Monitor and make sure that all products and related activities comply with the relevant legal and regulatory requirements
• Monitor activity and identify trends in product usage with the potential for risk and address these by investigating and driving actions to mitigate
• Document and update product processes, forms and manuals including both internal and external documents/forms and information
• Drive ongoing infrastructure analysis, capacity planning and strategic direction is aligned to the product strategy

Product Analysis and Reporting

• Conduct a quarterly review and report on product strategies to support the product portfolio and Retail/customer business objectives
• Monthly review of own allocated portfolio to maximise profitability and meet segment needs covering all the value and performance drivers
• Quarterly evaluation on the success of new and existing products and recommend changes in product or market strategies to report back to business and for benchmarking purposes when conducting research

Research and Market Intelligence

• Investigate and embark on a continuous market scanning of Local and International peers identifying market trends and activities to inform opportunities for new or enhanced products and services
• Initiate market research relating to the product alignment to client needs, competitors and future trends to ensure sustained profitability for Absa and competitive advantage
• Conduct product benchmarking against local and international peers
• Formulate and influence product strategies based on research findings

Networking and Stakeholder Management

• Contribute effectively, efficiently and professionally on all product related activities with all stakeholders within Absa Group while assessing opportunities to develop new products
• Effectively communicate developments within areas of activity to all relevant internal and external stakeholders

Competencies:

• Business Acumen
• Inspirational People Leadership
• Customer Orientation
• Results Orientation
• Collaboration and Influencing
• Innovation Leadership
• Change Leadership
• Pan African Citizen

Minimum Requirements

• BCOM Degree in commerce / business management (NQF7)
• 5 years’ experience in the financial services industry
• 2 years’ experience in designing and working on product management processes
• 2 years in product development/management
• Preference will be given to South African Citizens and Permanent residents of South Africa in possession of proof of permanent resident status.

General

• The appointment will be made in line with the Divisional Employment Equity strategy.

Education

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