Payments & Receivables Product Manager at Citi

Job Purpose:

In Treasury and Trade Solutions (TTS) Cash Management (receivables and payments): product management, development, marketing & business management for South Africa.

The receivables product manager’s role is to manage, end-to-end the local and foreign currency cash management products. i.e. management of existing products, enhancements to increase market share & overall product profitability and development of new products.

The position contributes directly to revenues, customer acquisition and competitiveness of the bank.

This involves working with various local and regional internal partners (Product, Sales, Coverage, Operations, Technology, Legal, Compliance and Finance) and external stakeholders e.g. SARB, PASA, BankservAfrica, the banking community and Regulators and most importantly our clients.

Key Responsibilities:

• Drive the product business strategy and execution for TTS receivables product in South Africa
• New product roll-out including conceptualizing, documenting business requirements, development, implementation, piloting and market roll-out for the receivables product. Specifically this includes critical roll-outs related to tax collections (including SARS integration), correspondent banking services, receivables platforms and strategic partnerships used to enhance 3rd party collections.
• Subject Matter Expert responsible for guidance to Sales/Relationship Managers/wider organization in respect of customer acquisition and successful knowledge transfer to internal business partners.
• Responsible for the receivables product’s profit and loss including, fees, pricing, deal review and providing sales support.
• Ensure expense disciplines both internally and externally (Bankserv, Bidvest, Payteq etc) for the payments and receivables products.
• Overseeing efficient operations with a focus on enhancing profitability and product growth.
• Ensure thorough governance around process, operations engagement, pricing and controls for all receivables related products
• Manage partnerships/alliances related to the product suite especially as it relates to tax collections and SARS engagement.
• Ensure compliance of the entire cash product suite with processes & risk management within Citi policies and relevant regulatory framework.
• Obtain necessary internal and external approvals to support product expansions.
• Coordinating of various local and regional internal partners (Operations, Technology, Legal, Compliance and Finance) and external stakeholders to support roll-out of product development
• Manage Regulatory engagement for the cash management products ensure governance and procedures are adhered to and tactical engagement with SARS, SARB, SADC, PASA and Bankserv are all in place.
• Development of marketing and sales collateral.
• Responsible for Cash Product Management Risk, controls and Compliance including TPM, MOA’s and Vendor Management ensuring engagement with all relevant internal stakeholders including TPM, TPO, ORM, TTS CO etc.
• Market monitoring and competitor analysis to ensure the product proposition is always superior
• Assist the customer lifecycle strategy from acquisition through early client engagement and implement strategies to optimize portfolio performance
• Assess relevant customer, competitor, and industry insights to help define strategies to improve client experience and portfolio growth
• Provide insight and recommendations on innovative product development, product targeting, and segmentation strategies as well as oversee aspects of product development life cycle management including market demands, technology trends, and the competitive field
• Identifying payment opportunities in the South African market and develop products and processes with a view to significantly encourage the customers to adopt electronic payment methods and digitization initiatives. This will enable straight through processing thereby increasing the capacity of the bank to offer payment services to its customers, reduce operational costs to the bank and increase margins on payment products.
• Identifying payment opportunities in the South African market and develop products and processes with a view to significantly encourage the customers to adopt electronic payment methods and digitization initiatives. This will enable straight through processing thereby increasing the capacity of the bank to offer payment services to its customers, reduce operational costs to the bank and increase margins on payment products.
• Identify and aggressively drive growth and penetration of new payment channel opportunities in South Africa. Introduce, deploy, and drive penetration of file services to improve Citi’s payment proposition
• Shapes and implements performance improvement strategies, with a specific focus on cross-sell and integration, including the development of competitive analyses, market analyses, product development road maps, market plans, pricing strategies and product line extensions
• Provide insight and execute on core marketing disciplines such as product development, price, promotions, platform, and pillars, launching, and marketing to improve client experience and portfolio growth
• Oversee product financial performance including identifying opportunities and gaps, and developing business strategies
• Participate in budgeting and planning for strategic priorities and initiatives
• Appropriately assess risk when business decisions are made, demonstrating consideration for the firm's reputation and safeguarding Citigroup, its clients, and assets, by driving compliance with applicable laws, rules, and regulations, adhering to Policy, applying sound ethical judgment regarding personal behaviour, conduct and business practices, and escalating, managing, and reporting control issues with transparency.

Development Value:

• Role in TTS Cash Management
• Role in Local / Regional Treasury and Trade Solutions Product team
• Exposure to senior representatives from leading global corporations
• Experience working in a truly global organisation with daily interaction with colleagues and clients across multiple geographies

Knowledge/Experience:

• Experience in Treasury/Cash Management
• Good understanding of project management, operations processes and accounting
• Experience in analysis of business cases with excel competency
• Excellent attention to detail with an analytical mind
• Evidence of client-focused work
• Experience of rolling out new product
• Technology savvy

Skills:

• Energetic, good focus, persistent, highly motivated.
• Professional verbal and written skills and ability to build sales oriented arguments /presentations to convince customers of product value.
• Exceptionally strong quantitative and analytical skills
• Presentation Skills - confident presenting to both small and large groups of people – often senior management within the client’s organization.
• Project Management – focused on detail, co-ordinate multiple teams to meet the project objectives.
• Analytical & well organized - able to multi-task effectively and work well under pressure.
• Strong desire to learn new products and be part of a winning team
• Excellent interpersonal, communication skills and teamwork

Competencies:

• Excellent organizational and planning/prioritisation skills.
• Ability to work as part of a team as well as individually
• Good communication and presentation skills (written and verbal)
• Good interpersonal skills
• Strong creative thinking capability (solutions and innovations)
• Relationship management skills
• Self-starter and inquisitive mindset

Qualifications:

Education:

• University degree at a minimum (B.Comm / BCompt degree or equivalent.)
• Finance/Accounting/Banking qualifications preferred
• Prior banking experience an advantage