Product Manager, Lending- Business Banking at Stanbic Bank

Job Purpose

• To help the Business Banking unit to achieve its financial targets agreed in the annual budget and medium term plans
• Grow the asset balance sheet.
• Drive efficiencies to better deliver products and services to customers at a profitable cost

Key Responsibilities/Accountabilities

• Business Banking overall budgets for lending products
• Business Banking segment budgets for lending products
• Accurately forecast and actively monitor business progress and forecasts to grow balance sheet
• Product performance management (track and analyze performance) on a structured and regular basis and propose remedial action on shortfalls
• Undertake business growth initiatives
• Technical Product Management expertise
• Identification of new revenue streams and business
• Conceptualization and development of new products
• Development and implementation of product strategies
• Product processes enhancement/re-engineering
• Assist with the conceptualization and management of campaigns.
• Effective product pricing
• Development of appropriate sales/service support tools
• Actively support the relationship management teams in Business Banking to scale up on the acquisition and onboarding of digital and self-service channel customers onto their portfolios
• Ongoing product management and maintenance
• Continuous monitoring and understanding of the operating and competitive environment and ongoing trends
• Collaborations with external partners and vendors in value adding initiatives that will drive Business Banking agenda.
• Deep understanding of the product continuum across segments – entry products, core products, secondary/cross sell products and product migrations
• Responsible for increasing product knowledge amongst Business Banking staff, which includes training solutions, sales tools, etc.
• Ensure up-to-date competitor and market data on respective product lines are maintained and appropriate recommendations are done to keep CSB ahead of the competition
• Participation in projects and any other duties as agreed with management
• Responsible for the implementation and adoption (within Branch, Department or Section) of all Compliance, Anti-Money Laundering and Sanctions related requirements contained in policies, procedures and processes. This includes the consideration and approval of PEP on-boarding and continued business engagement in instances where no adverse information is available.

Other:-

Data mining existing customer database to better understand customer profiles and behavior to profitably exploit opportunities
Review customer surveys and take note of customer feedback/complaints received through the various disparate channels to inform tactical and portfolio actions that can be taken to remedy shortcomings, where any – with a view of proactive engagement that seeks to improve Business Banking’s net promoter score (NPS)
Aid the Business segment heads in Business Banking : Head of Commercial Banking ; Head of SME Banking ; Head of IDG ; and Head of Agriculture segment with portfolio and optimization initiatives that will enable them to meet their Balance sheet and income statement budgets profitably and sustainably while scaling their respective lending business(-es)
Suitably identify the key lines of cost and income, and the levers to control cost and income with respect to lending products. Ensure that pricing decisions, product feature changes and new product development that have financial implications or process changes that have operational implications follow the correct governance process

Preferred Qualification and Experience

RECOMMENDED MINIMUM QUALIFICATIONS

Education Level

• University Graduate with at least 2 years managerial experience in Business/Commercial/Consumer financial services Preferably a post graduate degree and/or Professional Qualifications

Experience:

• Demonstrable Product Development; Product Management or Business Development experience in the development of Banking Products, Financial services products,
• Investment products, Insurance products, Transaction products, or Money transfer related products
• Demonstrable experience in Business Development and implementation
• Individual(s) must be able to show their participation in Business Planning and also been involved in process improvement initiatives around Financial services
• Individual(s) must be able to show-case Business Revenue generation initiatives that they have been involved in, or successfully executed
• Product design, marketing and development
• Operations
• Sales / Relationship management

Desired:

• Minimum of at least two years’ experience in a management position within the financial services, telecommunications, or FMCG industry preferably in a role that interfaces with/or is actively involved in Products Development/ Management; Strategy ; Business Planning and Analysis or Business facing projects centered around commercializing
• Products, Opportunities and initiatives – which experience , can be utilized in a way that will add value and help Business Banking to increase the level of its transact ability with customers, optimize collections in a speedy, efficient and affordable manner, leading to sustained growth of Business Banking’s Balance sheet and income statement and as a result help Personal and Business Banking (PBB) unit be able to attain its strategic and overall objectives

Knowledge/Technical Skills/Expertise

• Well developed strategic perspective and forward planning ability
• Proven track record in business goal management
• Strong analytical, problem- solving, decision-making, financial management and budget planning skills
• Project management skills
• Computer literate (MS Office Suite including MS- Excel)
• Interpersonal and stakeholder management competencies