Job purpose
The role is responsible for formulating and driving execution of Retail and Commercial Banking Products aimed at maximizing growth, market share & profitability. The product portfolios encompass all SME products, Personal Unsecured Facilities, Credit Cards, Personal Secured Facilities (Mortgages & Facilities against Collat Accounts, Deposits & Employee Banking.
Key Responsibilities
Develop and execute segmentled product management & portfolio optimization strategies in Retail and Commercial Banking Products to achieve the goal of maximizing Product Contribution.
Work closely with the Team to build business development and engagement model with external business partners critical to strengthening product offering value proposition and revenue growth of product portfolio.
Manage & optimize portfolio risks in conjunction with the business teams and Risk department.
Manage and maintain the development of strong and differentiated product propositions for R and Commercial Facilities and Deposit propositions for both SME and Personal Banking segments
Manage development of suitable customer value propositions to ensure sustained competitive advantage on a continuous basis for SME, Individual mass market, emerging affluent and affluent customers
Derive insights to competitor strategies and take proactive steps to protect the Bank’s market share
Ensure the implementation of appropriate systems and operational procedures to support sale
Support launch and deployment of new and innovative products ensuring that the expected returns are achieved
Continuous review of existing products to ensure that any tweaks are made or those that are non-value adding are retired/ refreshed
Through regular trainings, align the frontline teams to focus on selling the right products and CVPs to clients
Selectively broaden product offerings to maximize “Share of Wallet” for Retail and Commercial customers
Drive the system towards service quality standards in an efficient operation where risks are we process re-engineering)
Plan and implement long and short-term direct and indirect promotions and account management strategies to perform different types of sales programs/campaigns to achieve the and segments
Champion the evaluation and maintenance of credit approval criteria so as to maximize custom balanced against credit risks and NPLs
Drive the product alignment activity for the Products in line with the overall plan. innovate and new offerings on need basis
Conduct competitor analysis to ensure profitability of Retail and Commercial business is optimized
Develop service delivery agreements and ensure compliance to set TAT for different products and processes for Retail and Commercial banking
Knowledge and experience
Business related degree from a recognized university.
At least 5 years’ experience in Product development and management
Track record of successful implementation of product variants and innovative customer offerin
Experience in running a large portfolio of products and segments
Experience in business planning relating to sales, distribution and service
In-depth knowledge of Retail and Commercial banking products (SME and Personal Banking)
Advanced knowledge of the Microsoft Office suite, knowledge of SQL an added advantage.
Good presentation and data analytical skills
Strong communication and negotiation skills with the ability to influence outcomes
Ability to manage and implement change initiatives
Strong inter-personal skills and leadership ability
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