Senior Product Manager: Transactional Banking at Absa Group Limited (Absa)

Job Summary

• The Senior Product Manager - Transactional Banking is responsible for the development, management, and optimisation of the Relationship Banking transactional products and services. This role focuses on driving product innovation, enhancing customer experiences, and ensuring the profitability and competitiveness of transactional banking offerings for business clients. The Senior Product Manager will collaborate with cross-functional teams, including marketing, sales, technology, and operations, to deliver products that meet market needs and align with the bank’s strategic goals.

Job Description

Key Responsibilities:

Product Strategy & Development:

• Lead the development and execution of the product roadmap for RB transactional banking products (e.g., Transactional accounts, payments, collections, cash management solutions).
• Identify market trends, customer needs, and competitive offerings to drive innovation and maintain the bank’s competitive edge.
• Work closely with the product team to launch new products and improve existing services, ensuring alignment with business objectives.

Customer Experience & Insights:

• Act as the voice of the customer, leveraging data and insights to create solutions that enhance the overall customer experience.
• Conduct market research and customer interviews to validate product ideas and gather feedback.
• Continuously assess product performance and implement improvements based on customer feedback and changing market dynamics.

Revenue & Profitability Management:

• Drive the financial performance of the product suite, ensuring products are profitable and align with business goals.
• Work with pricing teams to ensure that pricing strategies are competitive and reflect the value delivered to customers.
• Track and report on key performance metrics, including profitability, market share, and customer satisfaction.

Stakeholder Management & Collaboration:

• Collaborate with key stakeholders across the bank, including sales, marketing, operations, compliance, and technology, to ensure successful product delivery and customer adoption.
• Present product strategies, updates, and performance metrics to relevant stakeholders.

Regulatory & Risk Compliance:

• Ensure that all transactional banking products comply with relevant regulations and internal policies, working closely with the compliance and legal teams.
• Monitor and assess risks associated with product offerings, and implement measures to mitigate potential issues.

Technology & Innovation:

• Partner with tech teams to drive product innovation, leveraging emerging technologies.
• Stay abreast of industry advancements and fintech developments to identify new opportunities for product growth and efficiency improvements.

Qualifications & Experience:

• Bachelor’s degree in Business, Finance, Economics, or related field (MBA or postgraduate degree preferred).
• 7+ years of experience in product management, preferably within business transactional banking or financial services.
• Proven track record of managing and launching successful products in a competitive market environment.
• Strong understanding of business banking needs, including payments, cash management, and digital banking solutions.
• Experience working with cross-functional teams in a fast-paced, dynamic environment.

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)