Product Manager - Trade and Working Capital at Rand Merchant Bank

The product manager is responsible for end-to-end global product management of Trade & Working Capital product lines in South Africa and Africa. The product manager is expected to identify, develop and roll out new products to facilitate the product revenue growth and to drive exceptional performance in Trade & Working Capital in order to maximize revenues and profitability. The key role will be to support RMB and FNB customers with their Trade and Working Capital requirements with focus on providing both documentary credit and specialised payables and receivables solutions products. The job will require close interaction with both external and internal customers and global stakeholders.

Focus will be on developing innovative product solutions & digital solutions/platforms for all identified segments and ensuring that existing products and solutions are effectively being delivered and providing organisation and client value. The role assumes the management and facilitation of the product development process from concept thought to product launch, maintaining a focus on identifying and meeting market requirements and achieving corporate business and product objectives. 

Responsibilities

• Management: Leading the Trade & Working Capital product initiative and ensuring adequate resourcing for the project.
• Product Research: Acquisition of data, information, knowledge and business intelligence in the Trade & Working Capital product domain. As well as the assessment of internal end-to-end product processes effectiveness, regulatory, economic, political and social drivers across multiple jurisdictions related to the Trade & Working Capital product scope. Keep pulse on importer’s and exporter’s evolving banking needs and package core services to meet those needs. Deep knowledge of banking environment.
• Interpretation: Utilizing the intelligence gained through product and environmental research for value creation i.e. understanding the impact of the environment on the current and future product competitiveness and identifying new opportunities. This will include engagement with internal and external stakeholders such as clients, industry specialist, segment and sales.
• Product Development: To define and execute management product strategies for the Trade & Working Capital products and/or services and/or enhancements to existing Trade & Working Capital products and or services. This responsibility will include: selecting appropriate channels through which these products will be delivered and scoping the high-level product requirements for those channels; agree budgets and targets for the product. 
• Product Management: The deployment and management of a proactive and disciplined product management approach in the Trade & Working Capital product domain, including: identifying new product offerings; gathering market requirements; determining business-case and feasibility; scoping and defining new products at high level; evangelizing new products within the company; building product roadmaps, working to a critical path and ensuring all products are produced on schedule; ensuring products are within price margins and up to spec; product lifecycle considerations; product differentiation; and detailed product planning.
• Product Pricing: The establishment and maintenance of product pricing frameworks. Collaboration with governance & compliance departments, with due consideration of market trends. Pricing will be done in collaboration with the relevant segments, coverage teams and pricing teams. Identify customer/transaction risk and develop mitigating solutions to ensure the structures and pricing are competitive and can meet client requirements.
• Product Profitability: The ongoing evaluation of Trade & Working Capital product cost structures and market penetration versus the cost of Trade & Working Capital product delivery, i.e. continuous assessment of overall Trade & Working Capital product profitability and related drivers.
• Technology: Staying on top of technology developments in Trade & Working Capital products and working with IT and Vendors to develop the Portal product and back end. This includes liaison with Program Management office, vendors, technology, legal and compliance. Implement trade & Working Capital solutions.

Knowledge Requirements:

• Product: An in-depth knowledge of Trade & Working Capital product offerings/services offered and transacted within RMB and FNB, i.e. product drivers, features and benefits, their applicability to solve a client’s need, their limitations and associated risks. A thorough understanding of credit and capital principles and its application to Trade finance & Working Capital products e.g. Basel 3/4, short term financing etc. Detailed knowledge of Documentary credits, Supplier finance, Factoring and Invoice Finance.
• Policy & procedures: Is aware of and understands the requirement and content to create policies, processes and procedures which govern Trade & Working Capital product/services work practices within RMB. These guidelines could vary from one jurisdiction to the next.
• Industry: Has an in-depth knowledge and understanding of the Trade & Working Capital industry and related business spheres. This includes risks associated with the industry, key micro and macro drivers that impact on or influence the Trade & Working Capital domain. Understands the industry opportunities, current and future trends, market supply and demand patterns, price cycles, profit drivers, main competitors and enabling suppliers.
• Risk & risk assessment: Knowledge and understanding of risk and risk-mitigants in respect of commercial, financial, sovereign, statutory, legal, credit, market, country, operational and other risk issues. 
• Banking Principles: Understands the basic dynamics and principles of the banking industry, i.e. products and services, banking law, business accounting, international trade and finance knowledge.
• Client: Understands and has knowledge of how clients operate and what their Trade & Working Capital product needs are.
• Competitor: Knowledge and understanding of competitors in the Trade & Working Capital space i.e. their strengths, weaknesses, competitive advantages and disadvantages, formal and informal structures and products within the Trade and Working Capital space.

 Qualifications

• Matric and relevant degree
• Relevant Business qualifications could be advantageous
• CDCS (Certified documentary credit specialist) 

Experience

• Minimum of 8-10 years’ experience in banking, minimum 7years’Trade & Working Capital experience.