Vacancies at Postbank (SOC) Ltd

Job Responsibilities 

Strategic Leadership and Product Development

• Lead the end-to-end lifecycle management of VAS and insurance product propositions, from ideation through to market launch and ongoing optimization.
• Develop and execute winning product and VAS strategies that align with Postbank’s retail and insurance business goals.
• Identify market trends, customer needs, and competitive landscape to innovate and enhance product offerings.
• Collaborate with cross-functional teams including marketing, sales, underwriting, actuarial, technology, and operations to ensure successful product delivery and adoption.
• Manage relationships with external partners and vendors to integrate and optimize value-added services and insurance products.

Commercial and Financial Management

• Oversee pricing strategies, profitability, and revenue management for VAS and insurance product lines.
• Conduct competitive analysis and benchmarking to maintain market-leading propositions.
• Monitor product performance metrics and implement revenue assurance practices to minimize income leakage.
• Prepare and present business cases for new propositions and enhancements to senior management and stakeholders. 

Value Proposition Design and Customer Experience

• Design unique and differentiated value propositions that address customer pain points and deliver measurable value.
• Use customer insights and market research to continuously refine product features and benefits.
• Ensure customer-centricity in product design, focusing on improving customer experience, process efficiency, and turnaround times.
• Lead marketing campaigns and communication strategies to promote VAS and insurance propositions effectively.

Regulatory Compliance and Risk Management

• Ensure all VAS and insurance products comply with relevant regulatory requirements and industry best practices.
• Work closely with legal and compliance teams to mitigate risks associated with product offerings.
• Ensure a robust risk management and compliance model for the insurance business across client segments according to local regulations and internal policies
• Ensure active monitoring and maintenance of risk management policies and controls / standards
• Ensure all insurance-related staff and activities are compliant with local and Group policies / standards / controls
• Responsible for any necessary reporting as required by local country insurance authorities and regulators. Group Insurance must be informed of all external communications to regulators 

Role Requirements:

Qualifications:

• Bachelor’s degree in Business, Finance, Insurance, or a related field; advanced degree or MBA preferred

Experience:

• Extensive experience (typically 8+ years) in product management, value-added services, or insurance product development within the banking or financial services sector.
• Experience managing cross-functional teams and external vendor relationships.
• Candidates having experience in Insurance business especially in Banking Industry would be preferred
• 5-8 years’ experience in Insurance business especially in Banking or Financial Services Industries would be preferred
• Leadership roles, with strong experience in sales and business management, as well as product development.

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Job Responsibilities

• Collaborate with cross-functional teams, including marketing, operations, IT, and compliance, to ensure seamless product delivery and implementation.
• Develop the product strategy and roadmap (detailed product and project plan) to ensure seamless execution and clear product direction
• Develop new products based on strategic priorities, revenue opportunities, industry experience, idea generation, company technological capability, staff resources, and site and marketplace research
• Optimize and analyze product performance and respond quickly to diagnose and correct any problems
• Manage product lifecycle and submit plans relevant parties for lifecycle-related development and retirement activities
• Monitors product development at predefined checkpoints to assure compliance with requirements, functional specifications and market strategy; reports status to Management Team and recommends risk mitigation strategies
• Work with Business Development, marketing and sales to assess opportunities that have product definition implications to ensure a revenue-generating offering
• Conduct market research to identify customer needs, market trends, and competitive offerings, particularly for underserved and unbanked populations.
• Develop a user experience and offering that exhibits an expertise with respect to the competitive offerings, from both a user and advertiser perspective, to ensure the product is competitive with the market.
• Build, lead, and mentor a high-performing product management team, fostering a culture of innovation, collaboration, and excellence.
• Ensure the efficient management, control, compliance and reporting of the function / resources in accordance with the stipulations of the PFMA, fraud prevention and risk management principles, corporate governance, legislation, company policies, processes, regulations, Delegation of Authority, etc.
• Develop and manage budgets for product development, marketing, and operational initiatives.

Role Requirements:
Qualifications:

• Applicable Post Graduate Degree (NQF 8) in Commerce/Science or Engineering. A recognised MBA will be an added advantage.

Experience:

• Minimum of 10 years of experience in product management within the banking or financial services industry, with at least 5 years in a senior leadership role
• Fulfil the terms of FAIS, any related legislation or regulation and any guidelines or regulations issued by the Financial

Sector Conduct Authority (FSCA)

• Computer literacy – Microsoft Office package (MS Word, Excel, PowerPoint, Outlook)