Assistant Manager – Marketing & Product Development (Central Office) at Rafiki Microfinance Bank

Purpose of the Job:

The main responsibility of the job holder will be to assist in the development of product strategies and subsequently managing & executing the operations of the products management function to ensure the attainment of the Bank’s strategic goals.  

He/she will play an essential role in driving product reviews, product rationalization and consolidation. 

Job Description 

Product Development 

• Propose, ensure execution, and monitor results of product strategy to ensure comprehensive achievement of strategic goals. 
• Carrying out market research for new products and/or improvement of existing ones including upgrades and customization. 
• Lead the development from conceptualization till launch of new products and services designed to deliver superior value for customers and profitability for the Bank while ensuring strict adherence to the Bank’s policies and guidelines. 
• Lead the creation, development and implementation of the product marketing strategies for Bank products. 
• Coordinate the product development process from initial product idea and appraisal to final product launch whilst establishing timelines with other stakeholders. 
• Ensure the achievement of profitability objectives by ensuring product profitability performance is as per plans through identification and implementation of revenue generation and cost reduction opportunities. 
• Develop and organize seamless execution of new product propositions, processes, and systems. 

Product Portfolio Management 

• Research on performance of existing products in the market. 
• Study competitors’ market products and services as well as generating monthly reports.  
• Recommend the nature and scope of present product lines by reviewing product specifications and requirements as well as keeping up with the changing consumer preferences. 
• Monitor and manage the customer satisfaction with regard to products and ensure delivery of value-added products and services.
• Identify and implement revenue generation and cost reduction opportunities to enhance product profitability. 
• Analyze and lead effective execution of process, system, TAT, and documentation improvement opportunities to strengthen the product proposition.

Marketing 

• Assist product messaging that differentiates new products and services from others in   the market. 
• Research, design, and develop campaigns to increase product uptake and penetration in the market. 
• Ensure participation in brand equity survey by developing survey components. 
• Preparation of documentation on products, both for internal use as well as external use. 
• Coordinate the resolution of process breakdown and policy interpretation on product related product issues across all functions to ensure delivery of a seamless product proposition to customers 
• Actively participate in preparation for product launches and post-launch support 
• Support design and developing communication material for internal and external use 
• Cultivate partnerships for business development and business risk mitigation 
• Seek opportunities for funding in line with the bank’s business segments and possible brand associations 
• Ensure compliance with internal and external regulatory requirements. 
• Adherence and compliance to AML guidelines of the Bank. 
• Continuously review CBK prudential guidelines and Customer Protection Act ensuring the products offered are compliant. 

Customers of this position 

• All departments of Rafiki Microfinance Bank. Closely working with BD and IT 

Knowledge; Skills and Experience required for this Role 

• Bachelor’s degree in Business Administration, Marketing or related field. 
• Prior Experience in Business development of at least 5 years.  
• Computer skills: Adept in use of Ms. Word, Excel, Access, Power Point, Internet and email