Segments & Propositions Manager at Absa Bank Limited

Job Summary

• Drive the Key Customer Segments strategy and set strategic objectives of the Bank.
• Identify the ideal customer mix/shape to deliver the Banking strategic plan.
• Manage profit & loss KPI’s at customer level, and all critical Key Value Drivers (KVDs) associated with the segment performance including segment profitability.
• Ensure maximized penetration into the customer segments to maximize acquisition, retention, cross sell ratios and revenue per customer.
• Track the segments’ marketing and campaign plans.
• Ensure world-class and differentiated customer experience including service processes in place for Segments.
• Monitor the delivery of action plans to drive up the Net Promoter Score (NPS) for Segments.
• Timely proposition design/development for Banking with tailored products, service, marketing and distribution elements to match the needs of the segment.
• Conduct customer behavioural analyses to understand response and purchase patterns, as well as channel preference.
• Development of customer journey maps, lifecycles/life-stages and personas for the segments.
• Conduct market research, customer research and market test experiments to ensure the delivery of world-class, customer propositions.
• Maintain up-to date market data including market share statistics for the segments and competitive positioning.
• Monitor the active customer database for banking and devise strategies to remediate this as required.
• Monitor customer churn for the segment and implement strategies to remediate this as required.
• Employ decision analytics in designing customer propositions and contact programs.
• Implement governance, risk, compliance and control in line with Absa ’ group policies.

Key accountabilities (Duties & Responsibilities) 

Proposition Development & Management; Time split 45%

• In-depth analysis of customers to understand behavioral patterns and customer insights as part of proposition development.
• Conduct customer and market research prior to proposition development, for an outside-in approach in design.
• Ensure all proposition enhancements comply with compliance and regulatory guidelines.
• Ensure process enhancements are done as part of proposition design and development.
• Support the Affluent Segments execution/business teams to ensure the embedment of new propositions and proposition enhancements.
• Ensure the active use of analytics to enrich understanding of the Segments and inform proposition design.
• Develop the ideal customer shape/mix for t Segments.
• Ensure tracking of customer level P&L in line with agreed financial targets (Income, Customer Growth, Balance Sheet and NPS).
• Ensure tracking of defined KVDs at segment level including acquisition costs management and conduct monthly reviews of the same.
• Ensure tracking of business cases for the realization of signed-off benefits.
• Ensure up-to-date market and competitor information is maintained for Affluent segments.
• Drive the development of customer journeys, lifecycles and personas for Affluent segments.
• Drive the development of customer value propositions for Affluent segments.
• Drive the development of customer campaigns to support the growth of Affluent segments.

Business Monitoring & Management; Time split 25%

• Ensure full compliance with regulatory requirements regarding delivery of compliant customer outcomes, treating customers fairly and the policies and control standards, including compliance with the requirements of the pricing framework.
• Review new areas of development and identify new promotions, products or pricing initiatives for assessment and/or implementation to drive key segment line revenues.
• Take a lead in articulating and framing the proposition to ensure it meets industry regulations and when required ensure there is appropriate substantiation
• Liaise with all stakeholders on segment positioning, functionality, performance targets and activity planned.
• Monitor performance of the segment against key measures and management on a monthly basis. Report results with recommendations about performance and actions to improve this.
• Obtain New Product Approvals for all new segments or significant enhancements and ensure TCF principles are embedded in all the product and portfolio actions taken.
• Participate and where required lead relevant consumer research groups through co-creation, stretching and building the segment solutions for customers

Stakeholder Management; Time split 25%

• Proactively drive collaboration with varied stakeholders to enrich and enhance execution of Affluent Segments’ deliverables.
• Liaise with / support and ensure timely delivery from Change, Operations & Technology teams for the development of processes, infrastructure, and IT capability to support proposition initiatives.
• Facilitate design and delivery of staff training and toolkits on customer value propositions.
• Engage with senior stakeholders across the organization to drive and manage the roadmap for the segments.
• Own and drive the Customer Segments story via effective communication with key stakeholders.

Controls: Time split 5%

• Ensure Governance, Compliance, Risk and Control are implemented and adhered to meet Group Standards by Centre. Ensure any new regulatory or Group requirements impacting on the Affluent Segments are reviewed and implemented

Role/person specification

Preferred Education

• Bachelor’s degree
• Microsoft Office Suite proficiency

Preferred Experience

• Strong stakeholder management skills
• Performance Management
• Strong negotiation, influencing, and interpersonal skills
• Excellent numerical & analytical skills will be required to obtain, prepare, assess and assimilate very complex and detailed information
• Project tracking and management
• Essential to be innovative and pro-active
• Results orientation and self-drive
• PC Skills: Microsoft Office & Excel, PowerPoint expertise is a must

Knowledge and Skills

• Good understanding of Absa bank customer segmentation.
• Good understanding of products/policies/plans/objectives in order to pro-actively embrace systems/procedure changes within the function.
• Ability to analyze and interpret financial and data models.
• Will require extensive knowledge of the industry landscape, players in the market, product knowledge etc.
• Impact of short, medium and long-term plans of the business and the effects of them on other functions, in order to implement the plans in the most effective and holistic manner.
• Will be required to have an understanding of local, as well as, statutes that relate to role holders function. The most important of these will be central bank’s guidelines, Absa Group office policies and procedures. Is likely to be personally responsible for compliance within function.
• Good knowledge of IT and telephony systems.
• A good understanding of the other banking areas such as liability and assets businesses.
• Management experience in a multi-cultural environment.

Closing: 27 June 2022