Trade Finance Products:
These are all the products currently managed by the Trade & Working Capital Department as defined in the approved Trade & Working Capital Strategy and the FI Trade & Working Capital Product Paper.
Overall job Purpose:
The overall objective of the role is to drive the delivery of aggressive incremental FI Trade & Cash revenues for the countries & the group and drive the day-to-day FI Trade & Cash business as well. The role’s key focus is to lead the country teams to focus on an ambitious growth of FI Trade & Cash business, building strategic FI trade relationships locally & globally and maximizing cross selling opportunities and profitability for FI business.
The role is also responsible for the co-ordination and management of both the FI Trade & Cash products including putting in place strategies to increase the various rebates that the Bank receives correspondent bank relationships for our cash & trade business. The role is further responsible for ensuring that adequate Limits have been put in place by our various international correspondent bank to support the local FI businesses. The holder will act as a liaison between the local and international financial institutions.
Key Accountabilities:
Accountability: Operational Plan [ 15%]
- The design, development and delivery of the countries operational plan.
- Formulate own operational plan across the various FI Trade & Cash products, including sales, products and channel’s needs, customer proposition and lending approach to FIs.
- Ensure the plan is aligned with the Group Trade Strategy and the FI Trade Product paper and is supported by the various partners within the bank.
- Work with the Diaspora Team to understand FI customer needs, identify the most valuable FI customers and create customised FI trade & cash sales propositions.
- Discover FI relationship opportunities that need to be explored to increase our products distribution.
Accountability: Financial Performance [30%]
- Overall responsibility for the growth of the Bank’s FI trade & cash business revenues & profitability.
- Working closely with our Correspondent Banks to push down the cost of confirmation and funds by using instruments like Clean letters of Credit etc
- Using our global network of Bank push to ensure that all the incoming guarantees, Lcs and collections are channelled through the Bank.
- Responsible for driving the Ethiopia FI business both inward and outward and also ensure that the business that we conduct with Ethiopia does not expose the Bank to any undue risks.
- Deliver financial targets for the FI trade & cash business in the countries, whilst positioning the Bank’s FI products revenue growth for medium term.
- Manage Cost-to-income ratios for the business to ensure they are aligned with the countries objectives.
- Price deals appropriately in order to ensure the attractiveness of the deal to FI clients and that the return is commensurate with the risk and that the bank’s return is maximized.
Accountability: FI Product Management [30%]
- Develop in-depth understanding of the FI business [trends & threats], the local economic/regulatory drivers.
- Build and maintain a productive and strategic FI products relationship with local FIs in our presence /non-presence market and other parts of the world in order to drive the development and delivery of FI business for the bank.
- Champion the delivery of consistent, seamless and trusted customer service to ensure business retention and loyalty from Financial Institutions.
- Co-ordinate marketing approach and portfolio focus of the various FI Trade business to ensure a high quality customer experience in order to maximize the Group’s revenues from FI trade & cash business.
- Obtain adequate credit facilities and support in set up of appropriate credit lines for local & foreign banks on best terms ensuring that the bank achieves a reasonable TAT for setting up these Limits.
- Work with the Group Trade Product Head and the FI Credit Team to embed a series of Trade products technical tools [including Risk-Return Calculators, FI Credit scoring etc] to ensure the customer needs and the value of the solution to the clients are correctly understood and are profitable.
- Participate in external trade forums/seminars to enhance the bank’s visibility as a “Go To” FI Trade Bank.
- Responsible for driving all the FI Trade & Cash business tactical strategies including all the initiatives identified in the Trade Strategy & the Financial Institution Trade Products Papers.
- Responsible for FI trade Cash & Trade products reviews and enhancement.
Accountability: Business Delivery [15%]
- Identify impediment to booking FI deals and resolve with the assistance of inter related areas in the bank to ensure the deals in the pipeline are booked.
- Proactively build an internal and external network that will facilitate the generation of FI Trade & Cash client leads (e.g. industry/trade associations, chamber of commerce, industry seminars etc.)
- Develop and implement a plan that will enable the bank to utilize & monetize limits extended to it by its global correspondent banks & partners such as Citibank, Commerzbank amongst others. The limits are currently idle and in excess of USD 500 million.
- On-going cross selling and upselling to the bank’s defined top FI customers.
- Negotiate and close “stand alone” sales. Ensure that all clients follow up activity including call reports, letters, tenders etc are produced to a high standard in a tight time frame and that all stakeholders are fully informed.
- Provide input to product development and design of marketing and sales materials founded on understanding of FI client’s needs.
- Ensure that all sales and performance management measures (e.g. sales pipeline tool, database, meetings etc) are adhered to.
- Respond to key FI Trade RFP’s pitch writing and presentation.
- Develop and implement various trade initiatives breakfast events, workshops, seminars, cocktails etc the objective of which is to drive sales and improve the bank’s visibility in terms of trade finance.
Accountability: Stakeholders Management [10%]
- Maintain relationships with the relevant internal stakeholders' groups within the countries to ensure the embedment of the commercialization ethos and drive collaboration.
- Seek out relevant local and global FI partners to ensure that FI trade business delivers the relevant and holistic business proposition.
- Manage skills training and knowledge transfers within the team, including intra & inter teams training and knowledge transfer within the Group. Prioritising the skills transfer to Branches and subsidiaries.
- Transfer and sharing of the best practice to ensure the teams receive appropriate training and development opportunities.
- Ensure we adhere to a high performing organisation profile and that the necessary tools are in place to maximise the ability of our people.
Qualifications
Education and experience:
- Bachelors Degree.
- Trade Finance Certification is an added advantage.
- 5 to 8 years’ experience in banking or Product management role.
- Proven track record in Financial Institution business either as a Product Manager or a Relationship Manager.
Knowledge & Skills [Minimum of 4]
- Strong selling and negotiation skills-must be “Deal closer”
- High quality written and verbal communication and presentation skills
- Excellent interpersonal skills
- Time Management
- Networking
- Enthusiasm and high level of drive
Competencies:
- Personal and interpersonal skills
- Positive attitude
- Technical knowledge
- Commercial effectiveness
- Control Environment
- Management and Leadership
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