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is a wholly owned subsidiary of I&M Holdings Limited, a publicly quoted company at the Nairobi Securities Exchange (NSE). The bank possesses a rich heritage in banking. Started in 1974, it evolved from a community financial institution to a publicly listed major regional commercial bank offering a full range of corporate and retail banking services, 35 branches in Kenya and international operations in 3 other countries. I&M Bank is a dominant player in the Kenyan market that has been consistently growing, and is innovative in terms of the type and range of products and services it offers. CDC Group plc, a development finance institution wholly owned by the government of the United Kingdom owns approximately 10.68% of I&M Holdings, the holding company of I&M Bank Ltd. In addition, I&M Bank has a technical support agreement with International Finance Corporation for staff training, product development and risk management. I&M Bank also enjoys medium term foreign currency credit facilities from European Development Financial Institutions - Proparco, DEG and FMO. I&M Bank’s international correspondent banks include major multinational banks such as Bank One Ltd, Citibank NA, CommerzBank AG, Deutsche Bank AG, ICICI Limited Mumbai, Mashreq Bank PLC, Standard Bank of South Africa and Standard Chartered Bank NY. I&M Bank’s international network includes Bank One Limited (Mauritius), I&M Bank Tanzania Limited and I&M Bank Rwanda Specialties Banking Services, Commercial Banking, Asset Finance, Mobile Banking, Internet Banking, Investment Management Services, Diaspora Banking, Credit / Debit / Prepaid cards, Wealth Management
The purpose of the role is to drive the P&BB strategy and deliver profitable business growth targets. This includes defining market segment, developing strategic business plans to acquire new customers, growing the personal banking book, implementing new products and services, recommending relevant financial solutions, establishing sales targets and ensuring the Bank sustains competitive advantage in this market segment. This role is primarily responsible for the client experience and engaging our resources to deliver a complete Personal and Business banking management solution.
KEY ACCOUNTABILITIES / FUNCTIONS
The Incumbent will report to the Divisional Head-Business Development and will be responsible for:
- Establishing the Bank’s brand in Personal and business Banking; leveraging the Bank’s reach & expertise resource capabilities to add value to the affluent customers while developing, nurturing and retaining contacts & customers across regional geographies
- Deepening share of wallet across the Bank’s product suite by collaborating across relevant Lines of Business
- Defining planning and controlling the execution of product strategies, positioning go-to-market strategies for local and regional product implementation to create customer differentiation and increase market share
- Collaborating with product specialists and broadening client relationships within the Group through introductions and facilitation of business flows through the various business divisions as appropriate.
- Growing revenue and optimizing client contribution in terms of budgets provided and ensuring value add to clients through cross-selling, specifically focusing on investments, financial planning, Risk solutions, and Lending and Fiduciary opportunities.
- Creating a lead base of external target market through networking, customer referrals and attending social events, seminars, trade shows and Industry events.
- Acquisition of new clients through: – Internal / external networking , dedicated business channels and proactive sourcing of new clients while conducting needs analysis with all new and existing customers to ensure that product opportunities identified are appropriate to meet the affluent customer’s needs and priorities
- Building relationships across all hierarchical levels within and outside the bank in order to develop a credible and relevant network to ensure leading edge financial and market information
- Ensuring successful retention of existing clients in assigned portfolio to strengthen and expand relationships by intimately understanding the client, servicing the client’s financial needs.
- Expanding and maintaining deposits from high net worth individuals
- Developing teams reporting under the role to enhance product knowledge to increase performance and productivity
- Minimizing exposures to and impact of risks assisted with KYC, AML and portfolio maintenance
- Pro-actively manage the portfolio to maximize revenue for the Bank (referring to fees, margins and sales), minimize costs and risks, whilst maintaining and entrenching the affluent customer’s relationship with the Bank appropriately.
- Ascertaining when affluent customers require specialist advice and arranging appropriate introductions with specialists. Generating and passing on leads and following up to ensure that the customer is satisfied with the service received.
- Managing Affluent customer requests and transactions in compliance to I&M Bank operational guidelines and procedures with zero tolerance to operational risk and frauds.
Business as Usual responsibilities
- Creating Annual Operating Plans/ Budgets in line with strategic direction, determining progress on objectives & revising tactics in accordance with prevailing conditions
- Accountable for revenue and profitability growth for the division
- Ensuring delivery of high quality services while managing for current and future growth
- Assisting Sector Executives as needed, in reviewing, planning and managing complex customer accounts
- Protecting bank’s assets and maintaining quality of portfolio by setting and adhering to processes, policies & procedures; legal, ethical, audit & regulatory requirements as well as established risk guidelines
- Responsible for performance monitoring of the team including promoting customer centricity at all levels within the team.
- Interacting frequently and building strong working relationships with enabler and fulfilment functions (including credit specialists, product specialists and wealth specialists) to shorten turnaround times and SLA’s are adhered to.
- Organization development to effectively structure the department for optimal performance.
- Management of costs associated with sales strategy and relationship growth
- Proven sales success including: prospecting, profiling, overcoming objections, negotiation, team selling approach, closing the sale and asking for referrals
- Coachable professional with good “business sense” and an energetic / dynamic personality.
- Excellent interpersonal skills and face-to-face relationship building abilities
- Knowledge of Personal and Business banking products and competitors' sales approach.
- Planning and organizing skills to maintain service deadlines and plan processes to maintain deliverables.
- Knowledge and experience in modern sales & marketing practices in financial services industry to provide visionary guidance on strategic changes to drive corporate banking performance.
- Building Relationships and Collaboration – The role holder will develop and maintain ongoing working relationships, networks and partnerships to help achieve business goals through others (e.g. peers, functional partners, customers etc.
- Performance management to optimize own and team's productivity
- Self-empowerment to enable development of open communication, teamwork and trust that are needed to support performance and customer-service oriented culture.
- Excellent oral, written and interpersonal communication, presentation, leadership and influencing skills.
- Selling and negotiation skills for effective marketing and closing on financial, insurance and investment products.
- Strong internal and external customer focus- Personal motivation and drive with the ability to work independently and in a collaborative environment.
- Strong leadership and people development capabilities, an inspiring leader that people choose to follow
- Strong operational mind-set, decisive, with a “let’s get it done” approach.
- Enabling Change – The role holder will encourage others to seek opportunities for different and innovative approaches to addressing problems and opportunities and facilitates the implementation and acceptance of change within the workplace.
- University degree in an analytical or business course e.g. Commerce, Actuarial Science, Economics, and Mathematics. (A Master’s degree in relevant field will be an added advantage.)
- A minimum of 7 years working experience in similar role in a vibrant market
- Good computer skills that include working with the Microsoft Office suite
- Strong relationship management and team building skills; views team concept as critical to success
- Proven track record in driving collaborative results across the organization
Method of Application
If you believe you meet the above requirements, send your application together with a comprehensive curriculum indicating your qualifications, present position, contact and names of three referees. Your application should reach the below address on or before 30th January 2017. Please quote the reference number followed by the position applied for in the application
The General Manager-Human Resources
I&M Bank Limited
I & M Tower, Kenyatta Avenue
P.O Box 30238 – 00100, Nairobi
Or email: firstname.lastname@example.org (preferred)
Only short listed candidates will be contacted. Canvassing will lead to automatic disqualification.