Head of Products - Retail & Commercial Banking at Gulf African Bank

Reports to: Deputy CEO

Department: Business

Location: Head Office, Nairobi

Job purpose

The role is responsible for formulating and driving execution of strategic agenda for Retail and Commercial Banking Products aimed at maximizing growth, market share & profitability. The product portfolios encompass all SME products, Personal Unsecured Facilities, Credit Cards, Personal Secured Facilities (Mortgages & Facilities against Collateral), Minor Accounts, Deposits & Employee Banking.

Key Responsibilities

Strategy

• Develop and execute segment-led product management & portfolio optimization strategies in Retail and Commercial Banking Products to achieve the goal of maximizing Product Contribution.
• Build and oversee business development and engagement model with external business partners critical to strengthening product offering value proposition and revenue growth of product portfolio.
• Manage & optimize portfolio risks in conjunction with the business teams and Risk department.
• Manage and maintain the development of strong and differentiated product propositions for Retail and Commercial Facilities and Deposit propositions for both SME and Personal Banking segments
• Manage development of suitable customer value propositions to ensure sustained competitive advantage on a continuous basis for SME, Individual mass market, emerging affluent and affluent customers
• Derive insights to competitor strategies and take proactive steps to protect the Bank’s market share
• Ensure the implementation of appropriate systems and operational procedures to support sales, track MIS and profitability
• Launch and Manage new and innovative products
• Through regular trainings, align the frontline teams to focus on selling the right products and CVPs to clients
• Manage the Retail, SME and Commercial Portfolio to achieve the NII and NFI budgets
• Manage the Credit card product proposition including revenue ownership for interchange.
• Selectively broaden product offerings to maximize “Share of Wallet” for Retail and Commercial customers
• Manage the development and implementation of strategies to cover Customer & Segments, Channels, and Processes.
• Drive the system towards service quality standards in an efficient operation where risks are well controlled (through product process re-engineering)
• Plan and implement long and short-term direct and indirect promotions and account management strategies to perform different types of sales programs/campaigns to achieve the annual targets of specific products and segments
• Champion the evaluation and maintenance of credit approval criteria so as to maximize customer enrolment, properly balanced against credit risks and NPLs
• Manage, motivate and train Officers/ manage your team by providing on job training, setting guidelines and standard, career planning and counseling
• Formulate and implement Business and Marketing Strategies in line with overall Retail and Commercial Banking Business Goals.
• Drive the product alignment activity for the Products in line with the overall plan. Innovate and develop new offerings on need basis
• Conduct competitor analysis to ensure profitability of Retail and Commercial business is optimized
• Ensure effective Internal Control systems are in place and related procedures and techniques are developed and implemented so as to minimize credit and other operational losses.
• Develop service delivery agreements and ensure compliance to set TAT for different products and processes for Retail and Commercial banking

Job Accountabilities

• Financial Key Performance Indicators(KPIs)- Revenue and Profit, Balance Sheet growth, Margin & Pricing
• Maximize business performance and achieve “Best in Class” profitability by product line
• Segment-Led Bundled Offer Value Proposition (CVP) tailored for all segments
• E2E Process, Turnaround Time & Quality Architecture & Standards
• Product/Proposition Campaigns/Rewards and Marketing Program Management (In Liaison with Marketing Department)
• 3rd Party Vendor/Alliances Management/Partnerships
• Enhancing, maximizing and developing Retail and Commercial Banking’s profitability and optimizing market share of
• Retail and Commercial banking through Balance sheet growth and optimization
• Sound profitable growth through management of the key products and relationships – The primary impetus to the sales and branch networks in the achievement of product-wise sales targets
• Maximizing Profitability and Market Share of the Deposit accounts, Card Business, Secured, Unsecured Facility products and SME products by focusing on new customer acquisition strategies, customer life-cycle management and business cycle management
• Develop and implement strategies to implement a unique service experience to the customer base through process re-engineering
• Manage the Fee Structure, revenue generation and NPLs
• Conduct regular product revenue reviews to minimize revenue leakage across all products and CVPs
• Optimize Business by lowering cost, including all product related costs, through the implementation of Operational Efficiencies
• Develop and oversee customer/account activation and reactivation programs to steadily increase the volume and value of transacting customers
• Create a formal and informal feedback systems to analyze product performance
• Control and periodically check operational risks and workflow in conjunction with Operations

Knowledge and experience

• Business related degree from a recognized university.
• At least 5 years’ experience in Product development and management
• Track record of successful implementation of product variants and innovative customer offerings.
• Experience in running a large portfolio of products and segments
• Experience in business planning relating to sales, distribution and service
• In-depth knowledge of Retail and Commercial banking products (SME and Personal Banking)
• Strong Analytical skills
• Advanced knowledge of the Microsoft Office suite, knowledge of SQL an added advantage.
• Good presentation and Data analytical skills
• Strong communication and negotiation skills with the ability to influence outcomes
• Ability to manage and implement change initiatives
• Strong inter-personal skills and leadership ability – encourages enthusiasm and team spirit

Please note that only candidates meeting the minimum qualifications and competencies will be invited for interview.