Jobs at Absa (2 Positions)

Job Summary

Accountable for the product design, development, deployment and management of the respective Product Portfolio. To enable the fulfilment and implementation of the respective value propositions and ongoing implementation and management of new and existing products in the respective Product Portfolio.
Job Description

Accountable for the product design, development, deployment and management of the respective Product Portfolio. To enable the fulfilment and implementation of the respective value propositions and ongoing implementation and management of new and existing products in the respective Product Portfolio.

Key Responsibilities:

Product Design and Development

• Provides the design and development of new and existing products, taking to market and run of compelling and commercially viable product propositions spanning the product lifecycle;
• Drives innovation around the product development and management cycle.
• Prepare business cases for new product developments.
• Manage marketing collateral of wealth-owned banking and credit products.
• Responsible for the operational query resolution on all aspects of the respective Product portfolio relating to product propositions

Product Management

• Collaborates with the respective stakeholders in ensuring that Product value propositions seamlessly integrate into segment and sector value propositions to support “golden baskets” and enable the acquisition and retention of customers in specific segments and sectors to support the targeted commercial and customer shapes.
• Management and coordination of activities relating to roll out of new products and product
• Responsible for updates and change of product and process documentation.
• Provides exception reporting on rate and fee deviations and revenue leakage in maintaining key product performance indicators for the respective Product portfolio
• Implementation of new product or changes to existing products into the business.
• Manage specific product back-book and clean-up initiatives
• Leverages the Pricing team for implementation of annual re-pricing processes, maintaining pricing tables drafting of communication and related marketing material.
• In collaboration with the Pricing team conduct annual (bi-annual) review of Product pricing and recommends pricing guidelines to ensure market competitiveness
• Provide recommendations for the review cycle of pricing changes and communication thereof. Control
• To ensure optimal and compliant control environment within the respective Product Portfolio that appropriately balance risk appetites and customer demand with the need to grow to achieve the financial ambitions and balance sheet aspirations of RBB.

Stakeholder Management

• Responsibility for service monitoring from product providers and monitors client experience with particular emphasis on banking products.
• Ensures service delivery is in line with SLA’s.
• Drive interaction with all relevant Infrastructure areas across the business in addressing product management requirements and priorities.
• Drive relevant communication related to product changes or new product implementations.
• Participate in Group-level activities and forums that impact the respective Product portfolio.
• Effectively communicate developments within areas of activity to all relevant internal and external stakeholders.

Finance

• Monitor financial performance of products 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 product development and marketing activities in order to align with budgets available

Product Strategy

• Develop and implement new products 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 products by aligning to the product lifecycle stage i.e. from concept to back booking
• Understand and interpret products 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 product portfolio across the Bank
• Assume responsibility for performance monitoring and proactive management of the products 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 specific product portfolio, via the monthly EXCO and Product Dashboard report on the individual products' performance and trends in the market

Competencies:

• Business Acumen
• Inspirational People Leadership
• Customer Orientation
• Results Orientation
• Collaboration and Influencing
• Innovation Leadership
• Change Leadership
• Pan African Citizen

Minimum Requirements

• B-Degree in Commerce/ Finance/ Marketing or NQF Level 7
• B.Sc. or B.Com (Honors) (advantageous)
• 3 to 5 years Banking experience
• 3 to 5 years’ experience in Banking Products development and/or management
• Preference will be given to South African Citizens and Permanent residents of South Africa in possession of proof of permanent resident status.

General

• The appointment will be made in line with the Divisional Employment Equity strategy.
• There is no referral plan linked to this requisition

Education

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

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Job Summary

To lead and manage a team of professionals, who drive the existing customer strategy, risk appetite and profitability across different product lines, segments and business units in the ABSA Retail Bank. Work with the Strategic Business Units (SBU) to ensure predictive risk and marketing techniques are established and deployed by business.
Job Description

• Work with appropriate stakeholders to develop and validate an effective business plan for existing customers that best maximises the opportunities from the Absa Consumer Banking network within an acceptable risk/reward profile.
• Ensure lending policies align with the overall Risk Management objectives and is in line with the overall Retail and Business Banking (RBB) Strategic direction.
• Ensure full interaction with Pricing and Profitability to ensure alignment between Risk Appetite, Underwriting Strategy and Pricing for existing customers.
• Understand the interaction between the macro environment and credit performance and adjust credit underwriting strategy within Risk Appetite accordingly based on macro expectations.
• Contribute (strategically) to building the vision and developing successful practices for Consumer Banking and the wider Credit Risk Management Team.
• Manage and co-ordinate the development of reporting requirements and portfolio measures for the product Risk Management team through the Absa committee structures.
• Present key credit trends and highlight recommendations and risk mitigation plans to the relevant Risk Management Head by either extracting data from within own team or consolidating data from central MI team.
• Ensure monthly Portfolio Performance Reports (with commentary) are submitted in accordance with the agreed deadlines and required standards and that all actions are addressed and feedback given in a timely manner.
• Ensure the development of more frequent MI (daily, weekly, monthly, as required).
• Oversee the quality of reports to ensure they cover performance monitoring and benchmarks.
• Support and stand in for the Head of Risk Management as and when required.
• Liaise with various internal stakeholders (e.g. Risk Management, Credit Lending, Product Head, IT and Enablement, Group Risk) to secure their respective support in the implementation of changes to the credit underwriting strategies for existing clients and also ensuring capacity exists to implement.
• Review and report strategy performance and trends to the Head: Risk Management Unsecured, Portfolio Quality Review Meeting, Retail Credit Risk Committee, Group Risk teams, and Product Teams.
• Ensure compliance with relevant Group Policies.
• Ensure that all legislative requirements are complied with (e.g. National Credit Act, Basel).
• Support relevant Audits and ensure any potential audit findings are addressed inline with committed dates.
• Ensure delivery of business goals by aligning Performance Development (PD) Plans of direct reports to the business goals.
• Instil a performance development culture through directing the PD process and adhering to the PD calendar.
• Pro-actively identify development areas of direct reports and compile development plans to address them.

Education

• Bachelor Honours Degree: BMI - Business Management and Informatics (Required)