Product Manager Personal Loan Digitization at Absa

Job Summary

•     Responsible for digital enablement of key facets of the Personal Loans business, including sales and service 
•     Accountable for the design, development, deployment of Personal  Loan’s customer journey’s and process flow’s across the respective digital channels. 
•     To enable the end to end fulfilment and implementation of the respective value propositions and ongoing implementation and management of new and existing features in the respective digital channels.
•     Drive full digitization and or automation of services and maintenance features of the Personal Loan products
•     Accountable for driving adoption /migration of PL  customers to digital channels /solutions
•     Responsible for ensuring end to end value chain enablement to support digital solutions (break out support)
•     Responsible for MI reporting for these channels
•     Drive PL visibility on Digital channels across different BU’s 
•     Introducing new digital channels/ capability to the offering via 3rd parties

Job Description

Accountability: Product Design and Development

• Provides the design and development of new and existing digital propositions, taking to market and run of compelling and commercially viable digital propositions spanning the product lifecycle;
• Drives innovation around the digital delivery of PL products and ensures the ensures clear and comprehensive business cases for such delivery
•  Accountable for all PL projects the relate to digital channels and these  accountabilities span, requirements, journeys, test scenarios, UAT testing and sign-off and change management and readiness
• Manage PL product hierarchy’s taking into account channel appropriateness and target market
• Responsible for the operational query resolution on all aspects relating to digital channel.
• Accountable for driving automation through capabilities such as robotics

Accountability: Product Management

• Collaborates with the respective stakeholders in ensuring that digital propositions seamlessly integrate into segment and sector value propositions and enables the acquisition and retention of customers in specific segments and sectors to support the targeted commercial and customer shapes.
• Manage marketing collateral of PL products via all digital channels
• Accountable for content, layout and effectiveness of the PL.co.za pages and ensures it is aligned to the “best in class”
• Management and coordination of activities relating to roll out of new products and product enhancements on the digital channels
• Provides exception reporting on rate and fee deviations and revenue leakage in maintaining key product performance indicators for the respective digital channels.
• Manage specific product back-book and clean-up initiatives via digital and ensuring these services are automated or digitized.
• To ensure optimal and compliant control environment across the digital channels that appropriately balance risk appetites and customer demand with the need to grow to achieve the financial ambitions and balance sheet
• Responsible for end to end MI reporting for these channels.

Accountability: Stakeholder Management

• Responsibility for monitoring client experience across the digital channels
• Ensures service delivery is in line with SLA’s.
• Drive interaction with all relevant Infrastructure areas across the business in addressing channel management requirements and priorities.
• Drive relevant communication related to changes or new feature implementations via the digital platforms
• Participate in Group-level activities and forums that impact the respective digital channel.
• Effectively communicate developments within areas of activity to all relevant internal and external stakeholders.

Accountability: Finance

• Monitor financial performance of channel within the Bank by reviewing financial KVD’s
• Compile Medium term plans (MTP) and Short Term Plans (STP) budgets on an annual basis
• and track performance against these budgets
• Quarterly compilation of Revised Annual Forecast (RAF)
• Understand financial impact of development and marketing activities in order to align with budgets available

Accountability: Product Strategy

• Responsible for expanding the PL digital footprint beyond APP, USSD and Web that meet the defined Retail Bank target market, customer segment needs and strategic and operational requirements which have been established via regular customer needs analysis and strategic reviews
• Manage the respective digital solutions by aligning to the product lifecycle stage i.e. from concept to back book
• Understand and interpret channels based on robust analysis and aligned with the respective portfolio strategy i.e. financial models, customer survey findings and overall product strategy resulting in informed recommendations as to the future direction/strategy of the channel and effectiveness thereof.
• Assume responsibility for performance monitoring and proactive management of the different digital channels by understanding the key performance drivers including behavioural trends, financial indicators and growth/performance metrics.
• Report to EXCO and relevant Product Head on the performance of the digital channels, via the monthly EXCO and Product Dashboard report on the individual products' performance and trends in the market.
• Perform all other duties as reasonably assigned

Minimum Requirements

• B-degree (NQF-level 7)
• 3 - 5 years Digital Design & Digital Product Management Experience
• 3 - 5 years Banking Product Development and or Management Experience

Education

• Bachelor's Degree: Business, Commerce and Management Studies (Required), Bachelor's Degree: Information Systems (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