Pricing Specialist at Bidvest Bank

The successful candidate will provide expert advice to internal and external stakeholders with respect to pricing, maintenance plans and new business acquisitions. This should lead to improved customer satisfaction and profitability for the bank and continuously monitoring and adapting to pricing trends in ensure the bank pricing model remains competitive.

Overall, the candidate plays a key role in driving the bank's success and growth by leveraging on pricing acumen and industry knowledge to inform strategic decision-making and drive operational excellence.

Minimum Requirements

• REQUIRED MINIMUM EDUCATION AND TRAINING
• BCom degree, Maths degree or equivalent

Required Minimum Work Experience

• Minimum: 2 years' previous experience in Fleet Pricing
• Ideal: Thorough understanding of operations in a bank with 4+ years' experience in similar industry (fleet) and role (pricing)
• TECHNICAL COMPETENCY REQUIREMENT Strategic Planning: Ability to implement pricing strategies that align with the bank's overall business objectives and drive growth.
• Pricing Analysis: Ability to understand and efficiently analyse information from multiple sources and use pricing models for customer profitability for the bank. Analysing market dynamics, pricing trends to inform strategic direction to the pricing policy.
• Pricing: Knowledge of fleet pricing principles and practices, and ability to apply them to the pricing models. Strong analytical skills and numerical ability.
• Pricing Models: Ability to design and implement pricing metrics to meet the bank's required return on investments.
• Digital Modelling Tools: In today's fast-paced and digitally driven world, a Pricing Specialist should have a solid understanding of digital modelling tools and technologies. This includes proficiency in data analytics, data visualization, and software, as well as an understanding of emerging technologies. Ability to use data analytics tools and techniques to analyse pricing input data and generate best pricing model for the customer and the bank.
• Investment Management: Ability to manage the bank's asset investment portfolio, including selecting investments, monitoring performance, and ensuring compliance with investment policies.
• Risk Management: Ability to assess and manage financial risks, such as credit risk, market risk, and operational risk.
• Regulatory Compliance: Understanding of regulations and compliance requirements that guard the fleet business, and ability to ensure that the bank is meeting these requirements.

Duties And Responsibilities Include But Not Limited To

• Pricing
• Strategic Pricing
• Develop investment appraisals for strategic growth within the Business.
• Develop pricing models to ensure customers are profitable.
• Ensure market related input data is used on the pricing models by using latest rates and prices when modelling quotes.

Management of Activities

• Plan, allocate and evaluate workload.
• Evaluate, and organize information for action.
• Assist in developing and implementing standard procedures and policies.
• Understand how the function impacts on business results

Pricing

• Coordinating and formatting all relevant information for decision making.
• Monitoring pricing trends to inform strategic direction to the pricing policy.
• Managing pricing change implementation.
• Identify and exploit new pricing opportunities/ innovations to grow the business further.
• Construct methodologies to enhance effectiveness of pricing policies.

CUSTOMER CENTRICITY

• Service Excellence
• Quality of service delivery as experienced by internal & external stakeholders.
• Interprets business/customer requirements to provide timeous solutions.
• Speed of responses, and timeously meeting all deadlines.
• Output results from "client servicing" activities. Includes value of advice to stakeholders.

Insights

• Provision of quality insightful and analytics
• Assisting the sales and customer management team with proposal development.
• Unpack the makeup of input or rates to clearly articulate what works or does not work and clarity of action.
• Consider global conditions, as well as competitor activity to create competitive advantage

Productivity

• Performing margin and pricing analysis to support business.
• Reviewing comparative pricing data, including wins and losses due to price.

Business Partnering

• Ensure customer service excellence.
• Communicate vision and services.
• Identify problem areas and ensure corrective action is taken.
• Create and maintain effective working relationships with stakeholders.

OPERATIONAL EXCELLENCE

• Robust control environment
• Contribution to making the department a great place to work.
• Contribution to teamwork (Level of teamwork, accountability, delivery, quality & speed of information shared, contribution to efficiency & effectiveness of area).
• Take accountability for the achievement of operational objectives within own area of control.
• Ensuring all pricing metrics and files reflect the latest market prices and rates.
• Clean audit
• Clean audit report & no repeat audit findings

Automation

• Identify repetitive processes and reimagine the process. Eliminate manual work arounds to improve turnaround time of delivery of customer pricing.
• Practical Implementation/Solving common problems jointly
• Drive allocated or participate meaningfully in reporting projects (automation and proof of concepts). Key is to be an active participant in cross-functional projects that have a pervasive impact.

LEARNING AND GROWTH

• Training
• Keeping abreast of own development and ensure exposure is gained based on development areas.
• Share acquired knowledge with peers.