Head of Liabilities at Absa Bank Limited

Job Summary

• Drive a sustainable business model through a robust RBB strategy aligned to the organization’s objectives.
• Full ownership of the Liabilities Revenue and B P&L and ensuring the business unit delivers to the agreed objectives.
• To manage the liabilities product range for Retail and Business Banking customers, ensuring the business remains competitive while achieving its stated income targets.
• To review, recommend and implement new product developments and enhancements to the existing product set.
• Providing leadership and strategic direction to the Liabilities teams to ensure the team is developed and supported to deliver results.
• Build relationships with internal service providers including Marketing, Communications, Technology and Operations and ensure that service level agreements are implemented and maintained where appropriate.
• Ensure compliance to Bank controls, policy, service standards and procedures as laid down by the bank through a robust controls framework.

Job Description

Key accountabilities

Team Leadership 30%

• Create and foster a positive, empowering team and work environment with open communication, individual ownership, personal initiative, timely resolution of conflicts and compliance of company standards.
• Provide thought leadership to the team and drive a culture of transformation and innovation by encouraging knowledge sharing, best practices in product development and new ways of doing things.
• Embed a high-performance culture with direct reports and their teams by providing regular feedback, coaching to ensure their maximum potential is achieved.
• Act as an escalation point for all issues emanating from the team.
• Provide people management support to colleagues within the team across the entire employee life cycle including on-boarding, performance management, discipline, talent management, career development, reward, recognition etc.
• Drive proactive application of Absa values both personally and throughout the team.

Product Oversight 30%

• Ensure Liability Revenue income targets are met for RBB products through leading and evolving the liability product pricing strategy.
• Stay abreast of industry trends, role players and opportunities and challenges to ensure that the RBB liability business is well positioned to provide competitive and industry leading product and services.
• Build and maintain effective relationships and networks within the industry forums and use the opportunity to demonstrate thought leadership and share best practices.
• Identifying opportunities for new product development and enhancements
• Contribute ideas for alternative RBB product strategies to manage the Liability Book.
• Continuously review the local basis for customer segmentation and recommend suitable product activity to target and sustain viable and profitable segments in line with the stated RBB strategy in country.
• Monitor and provide feedback to RBB Management on local competitor product activity and pricing.
• Interact with the Head of Direct Sales, Proposition Heads and Regional Managers in the Branch network to provide input into sales strategies.
• Provide direction and input to the Marketing & Corporate Relations (MCR) team during the development of product-specific campaigns.
• Build relationships with internal service providers and stakeholders including Marketing & Corporate Relations (MCR) and Operations & Technology etc. and ensure that service level agreements are implemented and maintained where appropriate.
• Proactively contribute to the digitization agenda and relevant transformation initiatives

Drive Business Performance 30%

• Provide clear direction to the liabilities team on the RBB objectives, translating and prioritizing into business performance measures at team and individual level.
• Agree targets and take accountability for the overall achievement of performance objectives for the team in terms of:
  • Brand, product, and business proposition
  • Customer experience
  • Cost performance
  • Product risk and rigour management
  • Budget accountability
• For areas managed by this role, implement performance controls to proactively measure achievement against strategic targets and address changes or non-performance.

Governance Control 10%

• Review monthly tariff reports prepared by the Product Managers with particular focus on errors and deviations. Ensure action plans are implemented to address such issues.
• Review notices for submission to local government, regulators, and customers prior to their distribution.
• Liaise with the COO areas on any major processing issues directly linked with the product design or the channels through which the products are distributed.
• Ensure that the team complies with all Absa policies and procedures.
• Ensure that team members abide by required project governance standards for implementation of new products or launch of new distribution channels.

Role/person specification

Education

• First business degree in commerce or banking
• MBA is an added advantage.
• Project Management qualification

Experience

• At least 10 years’ experience in sales or product development in a Retail Banking environment.
• 5 years’ people management experience
• P & L Management

Knowledge and Skills

• A comprehensive knowledge of Absa RBB products and systems that support them.
• A detailed understanding of product offerings in the wider financial services industry.
• Demonstrate an understanding of global trends in banking and financial services including emerging developments in fintech and digital transformation of financial services.
• Detailed knowledge of Absa RBB strategy and policies.
• Detailed knowledge of consumer behavior, marketing techniques and evolving trends.
• An understanding of customer segmentation theory and practice.
• A detailed understanding of local industry advisory, regulatory, and professional bodies.
• A good understanding of legislation related to financial services and channel delivery.

Technical Competencies

• P & L Management
• Project Management Skills
• Assets & Liability Management
• Strong Analytical & numerical Skills
• Business case development
• Product design and development
• Risk Management

Behavioral Competencies

• Stakeholder management and influencing
• People Management Skills
• Collaboration
• Leading change

Cognitive Competencies

• Independent judgment & discretion
• Entrepreneurial and commercial thinking