Managing executive: Transactional Banking - Johannesburg at Absa Group Limited (Absa)

Job Summary

• Enterprise leadership of transactional banking including transactional (cheque and savings) accounts, overdrafts, debit cards, payments, retail international banking products, pep and other strategic partnerships.
• Accountable for the strategy, performance and operations of the product house as an end-to-end business unit including direct accountability for infrastructure and people to enable execution. Aligns product and proposition strategies and their execution to enable realization of Absa customer and business strategies

Job Description

The primary purpose of the role is to:

• Develop and drive the strategy that consolidates a myriad of trade and working capital  products and propositions (Documentary Trade, Money Market Loans, OverdraftsIRU’s, Escrows, Trade Loans, LC Disco

Accountability: Strategy

• Accountable for establishing the strategic direction and growth objectives in line with the overall Everyday Banking strategy
• Accountable for defining the strategic and business initiatives necessary to achieve the business strategy and deliver the customer and commercial shape.
• Determines the market share objectives in line with the strategy and formulates the execution plan including but not limited to the following
• Customer segments and customer needs therein
  • Product continuum
  • Technology platforms
  • Channel platforms
  • Go to market approach
  • Operational capabilities
  • Customer experience
  • Competitive differentiation
• Stays abreast of local and global industry trends, innovations and developments to determine relevance, impact and consideration for Transactional Banking.

Accountability: Commercial Management

• Accountable for managing the commercial performance (P&L) of the products across the product lifecycle in support of Absa’s high-level financial ambitions and balance sheet shape.
• Makes trade-offs across product continuum, delivery platforms and capabilities within Everyday Banking to enable the desired customer and commercial shape.
• Interlock with CVM, SSE, Physical Channels, Technology, segment and sector on trade off discussions across the transactional and deposits product lifecycle to enable the desired customer and commercial shape.
• Ensure channel mix is optimized and delivery of satisfactory customer experience
• Creates value for all stakeholders by identifying and effectively collaborating with external partners to enable the desired customer and commercial shape.
• Identifies and manages key value drivers of performance at a business and product level including financial performance (revenue, impairments), cost management (direct and indirect), balance sheet management/optimization, pricing, credit and fraud risk etc.
• Accountable for ensuring the long-term commercial viability of the product, including oversight of the middle and back-office capabilities, external capabilities, partnership capabilities to drive efficiency programmes to optimize cost base and align to market and enhanced customer experience.
• Develop hyper personalised go to market approach – campaign development, tracking and tactical offer design
• Create analytical sales approach by leveraging data and create effective offers to drive effective product utilization and maximise economic return

Accountability: Product Management

• Delivers a compelling and insights led Product Proposition offering that aligns to and enables Everyday Banking customer strategies:
  • Lead centers of product excellence and innovation taking into account and anticipating market, customer and product trends;
  • 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;
  • ensures that the product value propositions seamlessly integrate into segment and sector value propositions to support “golden baskets” and enable the acquisition and retention of customers in specific segments and sectors to support the targeted commercial and customer shapes.
• Drives the design, development and delivery of integrated propositions within Everyday Banking and across Absa
• Drives product innovation across the banking, payments, digital and partnerships landscapes to deliver compelling transactional banking propositions
• Drive creation of new revenue streams through product innovation and appropriate commercialisation

Accountability: Product Infrastructure

• Accountable for the entire end-to-end infrastructure (people, process and technology) on which the products run to support the target customer experience whilst ensuring that the products remain commercially viable by ensuring:
  • Daily operations run seamlessly to support the target customer experience and performance requirements.
  • Product infrastructure is competitive and future fit, by sponsoring the design and development of strategic architectures (process, technology and infrastructure) and the required people capabilities.

Accountability: Book of Work

• Accountable for shaping the transactional banking product book of work across for customer accounts, payments capabilities, debit cards, international banking and partnerships.
• Make trade-offs between the run, grow and transform objectives for Transactional Banking and across the Everyday Banking product landscape to ensure the optimal delivery of the customer and commercial agenda
• Ensure coordination across the change, channel and multiple technology functions to achieve the desired outcome.

Accountability: Leading Talent

• Accountable for enabling people and culture aligned to brand value.
• Determine and analyse attestation, training, and development needs for direct reports, and ensure that these requirements are met.
• Act as a second-level escalation point for all grievances raised in the functional area.
• Ensure that poor performance is addressed, and relevant corrective actions are implemented.
• Ensure appropriate reward and recognition practices for all employees within the team.

Accountability: Operational Effectiveness

• Drive the development and tracking of tactical plans and scorecards and take corrective actions where required.
• Drive strategic reporting requirements.
• Provide leadership in engagements with regulatory bodies and represent consumer products in key industry associations and forums where applicable.
• Use insights and knowledge gained from high-level reports and analyse complex comparative information to create scenarios to direct strategic intent.
• Establish and maintain relationships with all key stakeholders across business value chain and other BUs
• Create awareness of cross functions and their activities to all team members

  Accountability:  Good Governance, Risk and Compliance

• Drive the development and implementation of integrated corporate governance and compliance frameworks throughout the business unit
• Influence the implementation of effective internal controls system and corporate governance in the functional area of accountability.

Education

• Master's Degree: Business Administration (Required)