Manager, Products, Business & Commercial Banking at Standard Bank Group

Job Purpose:

To build a profitable lending, deposits & transactional products book that offers the best solution in the market BCB customers. Enhancing existing products aligned to client needs and developing disruptive and strategic alternative revenue generating products while delivering ROE above budget Year on Year. The job holder will be tasked with partnering with the Head, Business Solutioning, Africa Regions to derive and drive the BCB Lending, deposits & transactional products strategy for Kenya. The role will also entail optimising the BCB balance sheets and will be responsible for setting product and customer pricing, managing risk/reward trade-off, concession management and price optimization.

Outputs:

Lending products & revenue assurance responsibilities

Lending and liabilities planning & revenue assurance (strategic and operational)

• Develops compelling Customer Value Propositions (CVPs) for Enterprise and Commercial Banking customer segments in collaboration with segment heads
• Develops product plan and requirements for strategic lending and liability Products in liaison with Innovations and Beyond Teams for:
  • Features and Functionality
  • Match features and functionality with the Competition & the Segment CVPs and address any gaps.
  • Distribution, Servicing & Marketing strategy
  • Risk Appetite
  • Regulatory Compliance
• Set product and customer pricing and product profitability drivers (fee, interest (assets & liabilities)) for the strategic products.
• Monitor product performance identifying areas of opportunities and seeks feedback to facilitate improvements in all aspects of the product.
• Improve efficiencies by driving process rationalization to improve service delivery and TAT, digitization and ownership of product governance through NACs and CRMC.

Optimize Client pricing.

Working with the Senior Manager, Revenue assurance in;

• Setting lending products pricing using ROE models to optimize client and product profitability.
• Price Implementation: Get the pricing approved through the Pricing Committee
• Ensures pricing is correctly implemented on the system/IT platforms.
• Price Monitoring: Monitor interest rates & fees offered to clients against the approved pricing and movements in interest rates benchmarks.
• Review concession management process
• Responsible for tracking client ancillary income and banking covenants/commitments and adherence of approved term sheet conditions
• Monitor portfolio yields, cost of funds and margins on the margins report on a monthly basis
• Identifying and sealing of any revenue leakage in products.

Transactional Products and Liabilities (TPL) responsibilities

Business Growth

• Drives TPL product alignment with CVPs and the business operating model by deriving activities from the CVPs and sharing with the various customer service teams for execution
• Conducts market assessments and prepares proposals (based on guidelines obtained in the products and pricing manual) for new TPL products and services – obtains approval and implements new TPL products/services.
• Prepares proposals to amend pricing and presents proposals to the Country Product Pricing Committee for approval. Oversees the correct implementation of pricing decisions in the branch network through reference to marketing brochures, engaging operations shared services, conducting system tests, staff training and conducting post implementation assessments.
• Trains all sales staff on new products approved by the New & Amended Client Solutions (NACs)
• Works with marketing and communications team on campaign and go-to market strategies for all TPL products to create awareness in the market.
• Conducts product insights and analysis by segment per product i.e., current accounts, savings, Fixed Deposits, Call accounts to understand the trends that impact our balance sheet.
• Identifies strengths and weaknesses of the business pricing by keeping abreast of market developments and the competitor landscape.
• Establishes TPL product strategies (for final ratification by Head, Business Solutioning) appropriate risk appetites, pricing strategies, and portfolio optimisation initiatives within the laid down BCB product strategy.
• Supports the growth intentions of BCB through the development and implementation of new products / features / options and service / experience enhancements – with approval from NACS
• Conducts market research (local and international) to inform product / solutions approach, viability and finalize the product design.
• Understands and manages key product drivers that influence revenue streams and risk exposure on specific product portfolios.
• Identifies revenue optimisation initiatives, obtains required signoffs, and coordinates implementation. This can be done through customer insights collected by the team, engagements with segment heads and understanding of current processes and procedures and proposing improvements where necessary.

Profitability management

• Tracks product performance and profitability (financial performance) using financial reports and product performance reports on Power BI, proposes and implements decisions on which products to focus on or revamp
• Contributes to product budgeting for both Net Interest Margins and Net Interest Revenues by working closely with the Finance Business Partner, Head Business Solutioning and Segment Heads.
• Complies with the governance of product pricing by participating in the pricing committee discussions and adhering to the pricing manual.
• Manages product costs through process rationalisation and building efficiencies through digitization
• Develops accurate forecasts and outlooks on pricing based on the macro-economic trends, performance of the market, customer feedback, etc.
• Curbs income leakages by reviewing the transactions volume report on Power BI, analysing it to check for leakages.
• Works closely with support functions such as Credit and payment teams to ensure appropriate policies and limits are in place as well as determining the correct pricing.
• Develops effective acquisition and retention tactics to achieve profitability targets and share with the sales teams on a regular basis.
• Analyses market dynamics, pricing trends, market opportunities, operating and sales margins to develop reports, procedures and tools for pricing and price discounting.
• Assesses the impact of pricing changes on the bottom-line as well as on customers and shares report with Head, Business Solutioning on a quarterly basis
• Establishes metrics for evaluating the performance of the pricing strategy and implements for use by the liabilities and products team.
• Validates that the metrics used are aligned with the pricing strategy and goals of BCB Product.
• Continuously monitors price exceptions to determine whether process or policy adjustments are needed.
• Monitors the financial results and performance of price strategies within the business segments to validate and recommend appropriate pricing strategies for each segment.

Customer Service

• Develops and understands core customer insights through customer visits with Relationship Managers and customer forums organised by the bank.
• Develops sales / cross-sell tactics aligned to overall customer offerings which are indicated in the customer value propositions per segment.
• Collaborates with BCB Digital Channels to drive digital agendas for all products to improve on the customer experience.
• Manages dormancy and attrition trends on liabilities and deriving initiatives to curb the same.
• Ensures the products are effectively positioned in market, and that the right awareness is created and effectively positioned with the target market.
• Drives quality service for new and existing clients with an aim to retain and expand the client base by communicating activity plans to service and sales teams that are derived from the CVPs.
• When required, present to customer-facing staff the rationale for price changes and the introduction of new fees and services.
• Ensures correct implementation of pricing for all customers, including Franchising and Public Sector entities, as well as key Mid-Corporate customers.
• Interprets customer, competitor and market segment insights and analytics in order to derive an understanding of customer needs / wants /behaviors to identify opportunities for development of new products.

Segment and Branch network support

• Drives the direct sales process to ensure sufficient leads are provided to the outbound call centres and sales teams in BCB.
• Assists with sales and marketing plans by enhancing and managing the implementation of new opportunities to increase acquisition and retention.
• Determines and develops product awareness and training (and supplies this as input to Learning and Development) detailing the target market for the products / solutions. Ensures that Channel, Credit and the Specialised Sales teams are adequately trained on the offerings in order to drive the take-up ratio and minimise attrition rate.
• Engages, builds and manages relationships with key internal and external stakeholders that may influence outcomes on the portfolio. Examples of such internal stakeholders are:  BCB; Segment Heads, Regional managers in customer channels, Credit.
• Together with the sales team, sets annual targets on the portfolio and aligns all marketing / stakeholder initiatives that are implemented to support such targets.

Improve Efficiencies

• Resolves all escalated customer and branch queries timeously.
• Assists with the resolution of operational issues and functionality problems on the different products.
• Identifies and resolves issues around pricing and margin management.
• Evaluates and summarises monthly financial reports highlighting areas of positive performance and focuses on areas of concern or weakness in order to recommend remedial action.
• Prepares and presents New and Amended Client Solutions (NACS) papers and Credit Risk Management Committee (CRMC) papers to ensure that the correct level of governance and approval is attained through the development phase of any new products and parameter reviews for existing products
• Managing credit risk within accepted “risk appetite thresholds” of the portfolio.
• Accountable for all compliance requirements in the portfolio, as well as the management of key risk indicators used to contain/mitigate operation risks and business continuity management plans.
• Identifies inherent risks of the portfolio and make recommendations in risk mitigation and / or exit strategies for high-risk pockets.
• Identifies business challenges and drive process efficiencies to improve service delivery and TAT.

Qualifications

• Bachelor’s degree in business administration, economics or marketing from a recognized university.
• Advanced Excel; ACCA/CPA; and a qualification in Business Intelligence and data visualization tools experience will be an advantage
• 5-7 years Extensive knowledge and expertise in financial modelling within the financial services industry. Sound experience and knowledge in Credit and Compliance matters. Extensive knowledge and expertise in financial solutions, payments & collection within the financial services industry.
• 5-7 years Experience in product development and customer-focused design and the delivery of products/solutions. Experience in process re-engineering and change management. Proven track record of management of financial objectives, both value creation and cost reduction. Proven track record in business analytics and the use of data science in understanding product and customer economics.