Stanbic IBTC Bank is a leading African banking group focused on emerging markets globally. It has been a mainstay of South Africa’s financial system for 150 years, and now spans 16 countries across the African continent.
Standard Bank is the largest bank in Africa and our highly visible brand, award-winning service, and strong global presence helps us maintain our market-leading position. We place huge value on the talent of our people to drive our continued success, and to support our plans for growth. We now need a talented and resourceful NIB Relationship Manager to help us fulfil our business objectives and build customer loyalty.
We are recruiting to fill the position below:
Job Title: Product Manager – Transactional & Liabilities
Job ID: 12899
Location: Nigeria
Employment Type: Full Time – Permanent
Job Purpose:
The strategic planning, product design, product management and product performance of Personal Transactional and Liabilities Products.
Key Dimensions of the Job:
- Operates within a matrix business environment and uses knowledge, experience and abilities to obtain positive business outcomes;
- Draws on knowledge and experience to build and implement sustainable product strategies that meet customer needs;
- Identifies and executes short term initiatives to drive product performance;
- Manages and co-ordinates product projects;
- Looks for new ways to improve the business and new products and services to grow the business;
- Understands payments and platforms
- Manages the day-to-day business of the product portfolio;
- Analysis’s product information to model and understand trends, behaviours and profitability;
- Understands the environment and business within which the product portfolio operates.
Key Responsibilities:
- Business growth & sustainability
- Product performance & profitability (financial performance)
- Product target setting (budgeting)
- Product alignment with customer value propositions and the business operating model
- Development & implementation of product and funding strategies
- Conceptualisation & implementation of new products/services
- Identification of new business, revenue and cost reduction opportunities
- Effective product interest rate management and product pricing
- Product process enhancements/re-engineering
- Development of product sales / service tools
- Product support to network
- Customer and branch query resolution
- Conceptualisation and drive of business campaigns
General product management
Delivery of key projects:
- Monitoring, understanding and reacting to business/competitive environment
- Provision of appropriate management information
Key Performance Measures Financial:
- Liabilities deposit balance growth
- Effective Margin Management
- Account management
- Product revenues (net interest income and non-interest income)
- Product costs
- Optimisation of profit
Customer:
- Develop and understand core customer insights
- Sales/cross sell strategies aligned to overall customer offerings
- Customer Information
- Product training material
Product Management:
- Grow the deposit base
- Support sales and distribution across segments
- Retention and management of existing deposits
- Product Insights and analysis by segment
- Tactical marketing initiatives
- Competitor Analysis
- New Product Development
- Improve Efficiencies and Effectiveness:
- End to end processing across all channels
- Account maintenance and management
- Legal and compliance
Job Requirements
Required Experience: 5-7 year(s)
Desired Courses: Not Specified
Required Skills and Qualifications:
Qualifications:
An appropriate Business related Degree/Diploma with a financial component.
Experience:
- Minimum of 6 years experience in product management
- Experience in the development of strategic and tactical product and business plans
- Experience in product design and development
- Experience in understanding customer behaviour
- Experience in interest rate management
Knowledge:
- A sound understanding of business principles, macroeconomics, financial services and money markets.
- A sound understanding of product management principles, including financials, pricing, marketing and sales.
Skills:
- Business acumen to understand and drive impact of actions on product economics
- Strong analytical skills are essential
- Attention to detail is essential
- Numerate, with the ability to do financial modelling
- Pricing Skills
- Good understanding of economics and finance
- Project Management Skills
- Computer literate (MS Office).
Required Competencies:
Technical Competencies:
Problem Solving:
- Works within a broader matrix business structure which often brings about ambiguity and complexity when it comes to developing and executing business/product plans.
- As a pivotal figure in the development and execution of business/product plans, the incumbent requires the ability to synthesis and integrate information effectively and formulate appropriate business outcomes.
- Problem solving ranges from resolving complex queries (customer and/or branch) to conceptualising detailed long-term product strategies to address a specific business need or requirement.
Planning:
- Is responsible for the development, prioritisation, and execution of strategic, tactical and operational product plans for the investment deposit portfolio. Includes the setting of annual financial budgets and sales targets through ongoing discussions with related parties. Also involved with the finalisation of the annual marketing and sales plans for the portfolio.
Decision making:
- Makes decisions around day-to-day product and customer queries that have been escalated to the product area.
- Plays a critical role in the management of deposit interest rates, and the setting of these interest rates.
- Plays a hugely influential role in developing strategic and tactical business plans for the deposit portfolio.
Personal Competencies:
- Interpersonal – Verbally expressive with good written and verbal communication skills; Able to build relationships and create a network; Communicates recommendations in a persuasive manner; Team builder; Conflict management; Able to work in a complex and sometimes ambiguous environment; Customer service orientation
- Intellectual – Proven intellectual capability; Have a conceptual understanding of product strategy; Develop solutions that have a short to medium term horizon; Grasp the fluid market needs and adjust accordingly;
- Drive – Results and achievement orientated; Tenacity and determination; Able to work independently; Delivery under pressure; Deadline orientation; Resourceful; Resilience, i.e. high level of motivation and willingness to succeed despite obstacles related to the rollout of plans and differing priorities of the various stakeholder groups
- Personality – Innovative; Self-starter; Assertive; Confident; Analytical; Collaborative; Influential; Persuasive; Proactive; Adaptable; Problem solving; Creative.
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