Job description
Job Purpose:
This role is significant in maintaining and growing BOA’s position as a key provider for Cash Management and other transactional solutions. Its main purpose is to oversee and manage the cash management propositions, processing and servicing including product management, achievement of sales and revenue goals through future lines of business, handling customer enquiries, generating new client relationships and managing unit performance. Role holder is expected to bring effective product management and development disciplines across all product sets including collections, disbursements, e- channels/platforms and liquidity management.
Key Responsibilities:
Financial Performance:
Grow the Bank’s profitability and enhance shareholder value- Non funded income, cheap deposit mobilisation and customer retention.
Drive the Bank’s Cash management proposition (payments and Collections) (Cash Management sales) – e- government collections, bulk salary and supplier payments, internet banking, electronic payments and any new products that will be introduced for the assigned customer portfolios (Corporates & Institutional Clients) in order to maximise customer coverage together with Enterprise and IB RMs
Develop profitable and sustainable product relationships – identify and meet business needs of existing and potential Corporate & Institutional Banking customers, with unique value propositions.
Sales and Revenue Generation: Participate in senior calling to support cash management solutions in RFPs, and presentations / client pitches to Corporate and institutional clients
Network with Enterprise and Institutional Banking Relationship Managers within the Bank in order to solve customer problems and provide customer solutions.
Oversee and manage the end-to-end cash management sales process including planning, presentations / demonstrations, and technical discussions in order to facilitate and increase sales
Match customers’ needs with BOA’s product capabilities through presentations and proposals
Drive cross selling opportunities and maximise customer share of wallet.
Negotiate terms and conditions with customers to maximize revenue and profitability.
Business Development & Growth – Portfolio Management support:
Negotiate and propose for delivery bespoke cash management solutions of selected corporate customers, and protect such business from predators.
Manage cash management product launches and provide the necessary support in order to effectively create product awareness
Grow the Bank’s Market Share by driving increase in transactional volumes among Corporate and Institutional Banking clients
Undertake market situation analysis to identify new transaction banking business opportunities.
Understand customer (BOA Corporates & Institutional clients plus prospect) businesses, anticipate their requirements and offer structured and need based solutions to meet their specific cash management needs.
Provide leadership, guidance and support to sales, client management and marketing teams for positioning, pricing and promotion of Cash management solutions.
Operational Efficiency:
Contribute to the establishment of new business practices, procedures and guidelines within Transaction Banking and the Bank
Represent Transaction Banking in forums and discussions with external bodies such as KRA, Government organisations and others Technology firms who have partnered with the Bank to ensure full adherence to terms of contracts, SLA or MOUs signed.
Monitor monthly performance of systems and develop action plans to remedy any degradation of service.
Compliance with internal and external regulatory policies and practices maintaining an appropriate level of risk management within the business area
Zero frauds– continuously train and sensitize the Enterprise and IB Relationship Management teams on various transactional banking products and make sure they are alert at all time.
People Management:
Direct, manage and motivate the product support team to deliver business results.
Driving an environment of collaboration, both within the team and across the wider business and back office teams to ensure issues are raised and blockages are resolved in a timely manner.
Minimum Knowledge, Qualifications and Experience required for this role:
At least 12 years of experience in banking or financial sector; including at least 8 years of cash management experience and 5 years of experience in a senior managerial role
Bachelor’s Degree in Business related course.
Master’s Degree in Business Administration (MBA) desirable
In-depth knowledge and understanding of the entire cash management customer value proposition with a strong appreciation of banking operations, corporate, transaction banking and retail
Related experience in product management, information technology, operations or project management
Strategic thinking / thought leadership
A good team player with proven commercial track record and leadership abilities
Highly computer literate with intermediate level proficiency in MS Office applications; good understanding of banking software and working knowledge of ERP systems
Functional & Behavioural Competencies required for this role:
Demonstrated strong leadership, planning and management skills.
Strong interpersonal communication, strong in selling, persuasion, negotiation skills, presentation and influencing. Ability to build business relationships and relate well with both internal and external customers.
Excellent written and spoken communication skills, Report writing and presentation skills.
High marketing and selling proficiency: ability to undertake sales targeting, sell bank services and meeting sales targets
Results driven – able to efficiently manage time, meet deadlines and communicate risks, resource needs, and priorities and deliver results.
Proactive. Ability to work independently under strict deadlines and work without supervision.
Good analytical and critical thinking skills, problem-solving, judgment and decision-making skills. Keen to details.
Team player who is competent in financial management and has high levels of integrity
Positive, energetic self-starter with a high level of personal drive and resilience
