Product Manager-Business Lending at Absa Bank Limited

Job Summary

The Job holder will be responsible for Product Management of the Retail and Business Banking Loan Portfolio. This includes and not limited to: product Innovation, product development, product portfolio management and customer value profiling with main objective of Growth, Returns and Transformation. The role will be responsible to drive business and customer growth with focus on MSME and other Business Customers.

Key responsibilities:

• Develop and execution of strategy to drive business performance objectives against key measures including and not limited to Market Share Growth, Revenue growth, Balance sheet growth, Capital optimization, Customer growth, Cost reduction and Process efficiency.
• Responsible for innovation, industry partnerships and execution that is future fit and resonates with customer needs, data led and market insights. Market & product development focused on both short term and long-term sustainability including continuous assessments on new frontiers.
• Designing and execution of the product line annual plans to support the achievement of the objectives of the Absa Retail and Business Banking Strategy.
• Managing the customer life cycle management to optimise on revenue opportunities from new and existing portfolio including driving cost efficiency and balance sheet growth through data led initiatives.
• Responsible for enablers that drive quality sales while maintaining appropriate risk tolerance levels and customer experience.
• Awareness of the market and environment across various industries including non-bank entities and start-up disruptions.
• The role holder will provide technical product management expertise across loan cross functional areas including and not limited to SME & Business Banking leadership, Wholesale Credit Risk function, Collections & Recoveries, Credit Operations, Securities and Branch teams.
• Responsible to ensure a high NPS score through service support at the front and back end teams.
• Manage Product governance and review controls environments, Enterprise Risk Framework awareness, Audits programs, Product Critical Process (CPAs) and Regulatory adherence.

Job Description

Main accountabilities and approximate time split;

Driving Business Performance/Business direction 40%

• Develop strategy to drive business performance objectives against key measures including and not limited to Market Share Growth, Revenue growth, Balance sheet growth, Capital optimization, Customer growth, Cost reduction and Process efficiency.
• Execute strategy to drive business performance objectives against key measures including and not limited to Market Share Growth, Revenue growth, Balance sheet growth, Capital optimization, Customer growth, Cost reduction and Process efficiency.
• Work with wholesale credit risk to drive growth in quality areas to ensure portfolio quality.
• Maximize revenues through use of internal and external data insights to drive propensity for product uptake.
• Work with the Function Head, Head of Product and Head of Loans to set the strategic direction for the Business Banking product portfolio.
• Understand customer segmentation & customer needs and develop solutions to deliver the customer value propositions through ecosystem collaboration.
• Manage the action plans and activities to manage the specified product line performance and to improve product line profitability in line with customer segment objectives.
• Liaise with the country Retail & Business Banking Directors / Heads, Marketing & Country Product Managers to inform them of the product line strategy, positioning and implementation plans.

Business Monitoring 30%

• Monitor performance and provide recommendation/s of Product Line against key measures including and not limited to Market Share Growth, Revenue growth, Balance sheet growth, Capital optimization, Customer growth, Cost reduction and Process efficiency.
• Awareness of the market, industry information to ensure Absa offering is maintained and appropriate recommendations are done to keep Absa ahead of competition.
• Ensure the country pricing decisions, product feature changes and new product development that have both financial and non-financial implications follow the correct governance process.
• Monitor end to end customer and colleague journey through review of process, Returned work and TAT reviews.
• Develop management information and reporting for both central and local use to support the analysis required for improved product line performance.

New Product Development/Amendments to existing products 25%

• Market & product development focused on both short term and long-term sustainability that is future fit including continuous assessments on new frontiers.
• Assist with the design of new products, product features and enhancements considering both customer needs and balancing business management. 
• Lead the product development process through utilizing a Research &Development (R&D) process for ideating, designing, prototyping and testing products.
• Facilitate planning workshops to produce detailed plans for each product development work stream including pre and post go live activities.
• Lead the development of the business case for new products/enhancements using country input, conduct/reputational risk, TCF principles, system and infrastructure plan, detailed operational risk assessment, and complete the financial model for product.
• Liaise with marketing to draft marketing plans and campaigns to support new products or product enhancements.
• Ensure adequate training is done for sales and service staff on the new product or product enhancements.
• Handover new product to BAU following process and undertake post implementation reviews.
• Implement governance, risk, compliance and control in line with Absa group policies.

Customer and Control Objectives (5%)

• Ensure Absa Data Privacy Policies are adhered to especially the dissemination of any customer information or other sensitive information.
• Ensure appropriate approvals are received prior to any customer communication or issuance of marketing material for both internal and external use.
• Ensure monthly monitoring of any assigned General Ledger accounts and highlight any anomalies with relevant stakeholders.
• Ensure appropriate governance on all pricing decisions.
• Ensure monthly competitor/market studies are held.
• Ensure appropriate approvals are held for any tariff changes.
• Ensure customer contracting documentation is updated with review from legal and compliance.
• Manage Product governance and review control environments, Audits programs, Product Critical Processes (CPAs) and Regulatory adherence.

Technical skills / Competencies

• Proven strategic business awareness and commercialization with focus on MSME and Business customers.
• Self-motivated, agile and results orientated with ability to work under minimal supervision and deliver under tight deadlines.
• Highly developed analytical skills, problem solving and planning abilities. Strong numerical skills for calculation of statistics, figures and targets and understanding of product profit drivers.
• Communication skills both written and oral.
• Strong team player, ability to motivate staff, sell new ideas, build and maintain key relationships, with the ability to influence and guide strategy at senior levels.
• Ability to deal at a detailed operational level.
• Excellent Stakeholder management.

Knowledge, Expertise and Experience

Essential

• Deep understanding of the MSME and Business customers, trends and forward looking acumen.
• Knowledge of industry banking and non-banking financial products and the manner in which systems support them.
• Understanding of product offerings in the wider financial services industry.
• Understanding of the importance of customer segmentation theory and practice.
• Understanding of legislation related to financial services and channel delivery.
• A detailed knowledge of product profit drivers, with proven experience of income and cost management
• Fully competent on Microsoft Office tools.

Preferred

• Understanding of relevant industry, advisory, regulatory and professional bodies
• Knowledge on credit risk drivers.
• Knowledge of Absa products and systems that support them, and a good understanding of Absa products.
• Knowledge of Absa Governance processes
• Exposure to management information systems and how to leverage this for product management

EXPERIENCE & QUALIFICATIONS

Essential

• A first degree in relevant field
• Strong Stakeholder management skills
• Strong Analytical skills
• Technical decision making skills
• Presentation Skill