Senior Manager: Product

Empowering Africa’s tomorrow, together…one story at a time.

Job Summary

Overall responsibility for ongoing management of the product portfolio, formulating, managing and executing product and proposition strategies for target segments based on robust and in-depth analytics, insights and customer segmentation.

Job Description

Accountability: Product Strategy and Planning

• Remain abreast of current industry standards locally and internationally to identify opportunities to enhance our Product sets, i.e. ensuring that product standards/offering meet or exceed industry and competitor standards

• Evaluate emerging market opportunities and determine how we can leverage the initiatives at a wider Group level.

• Ensure that regular assessment of the market and competitor offerings are undertaken

• Drive and direct product gap analyses as well as the establishment and management of product lifecycles

• Develop product strategies to grow revenue to gain market share aligned to the business strategy

• Develop the short, medium and long-term Absa product and related business strategies across the value chains.

• Formulate customer-led Product strategies to optimise market opportunities aligned with the business strategy.

• Conduct on-going local and international market analysis for new and innovative offerings for consideration in the different portfolios and continuous strategic alignment.

• Seek on-going improvement of Product cycle speed

• Ensure that all relevant stakeholders such as technology, people change etc, understand and support the agreed strategies for the area.

• Mobilise and support the implementation of the customer service culture and sales strategy

 

Accountability: Product Development and Management

• Act as the subject matter expert for new product development

• Direct and influence the management and prioritisation of the existing portfolio and new solutions

• Lead product planning, design and management based on the strategic product roadmap and the product lifecycle with its associated price, promotion, distribution and customer needs objectives.

• Monitor the continuous Product performance analysis in terms of all product parameters (including market share, customer take-up, utilisation/activity, financial performance etc.) and create a focus on Market activity to gain traction and market share in the industry.

• Oversee and ensure that the implementation of regular profitability analysis is conducted on all products to determine their continued viability.

• Entrench product development and enhancement governance in collaboration with Legal, Compliance and Operations to review product features, processes and procedures ensuring compliance with regulatory requirements

• Collaborate with management of sales and support teams to align on the go to market plan when launching a new or enhanced proposition.

• Provide direction, guidance and input on the development and management of processes to ensure the effective delivery of products. This includes providing subject matter expertise during the development of sales force training material.

• Entrench the use of industry best practices for product planning, life cycle management, measurement, growth and profitability. This involves addressing the strategies covering the 8 P's of services (Product, Price, Promotion, Place, Processes, Physical evidence, People and Profitability).

Accountability: Commercial performance

• Deliver commercial performance against annual targets set

• Continuous review of product performance against key SLA’s delivering corrections where necessary

• Identify new revenue opportunities and opportunities for cost reductions

• Ensure on-going Business As Usual compliance of all products to relevant policies

• Implementation of pricing strategy and governance to optimise revenue and to minimise revenue leakage

• Ensure processes for benefit tracking per product and segment is in place

 

Accountability: Business Management

• Develop and implement a sustainable Business model and marketing strategy for all products in collaboration with Manager for Product Marketing

• Participate in Group and Industry Forums to ensure alignment with Absa Group priorities and industry.

• Using the defined customer strategy to enable effective distribution channels to meet the customer needs.

• Proactively drive innovation to solution for existing and new client base

• Participate in all relevant customer and sales forums to stay aligned with evolving customer needs.

 

Accountability: Stakeholder Management

• Ensure all stakeholders are fully engaged including Retail, CIB, Operations, IT, Legal, Channels, Segments, Sectors, Finance, Risk and Compliance

• Manage key internal stakeholder relationships including other business units

• Manage and maintain key industry stakeholder relationships

• Represent Absa at relevant industry platforms

• Management external relationships with Absa vendors and suppliers including joint development of services and solutions of Absa offerings.

 

Accountability: Risk Management

• Ensure processes, control requirements and risk management frameworks that have been designed are understood by all stakeholders and regularly reviewed and updated

•  Manage the remediation of audit findings agree  on actions required  and Ensure remediation actions are embedded within the required timelines

• Log and investigate all risk and loss events and ensure the issues are resolved and escalated as per the applicable policy

• Ensure regulatory and compliance training is completed and applied

• Continuously review product lifecycle to identify and mitigate risk areas

• Ensure robust product testing governance

 

Role⁄ Person Specification

Education And Experience Required

·       B Degree

Experience Preferred

·       Previous experience in the Financial Services Industry with objectives in a Product Lead Role

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised