Job Summary:
The Manager Transactional Products & Liabilities will seamlessly integrate the Transactional Products and Liabilities (TPL) product set within PBB Uganda in order to deliver superior solutions to the customers and drive maximum possible profitability for the bank from all liabilities financial products/solution. The incumbent will drive adoptability of liability products in both customer and non-customers of the bank to drive towards deeper penetration in our customers and acquisition of new customers to Stanbic Bank Uganda.
Key Duties and Responsibilities:
Business Growth
Drives TPL product alignment with customer value propositions (CVP’s) and the business operating model by deriving activities from the CVPs and sharing these with the various customer service teams for execution.
Conducts market assessments and prepares proposals (based on guidelines obtained in the products and pricing manual) for new TPL products and services – obtains approval and then implements new TPL products/services.
Prepares proposals to amend pricing and presents proposals to the Country Product Pricing Committee for approval. Oversees the correct implementation of pricing decisions in the branch network through reference to marketing brochures, engaging operations shared services, conducting system tests and staff training and conducting post implementation assessments.
Identifies strengths and weaknesses of the business pricing by keeping abreast of market developments and the competitor landscape.
Establishes TPL product strategies (for final ratification by Head, PBB Product) appropriate risk appetites, pricing strategies, and portfolio optimisation initiatives within the laid down PBB Product strategy.
Supports the growth intentions of PBB through the development and implementation of new products / features / options and service / experience enhancements – with approval from New Products Proposal Committee.
Conducts market research (local and international) to inform product / solutions decisions in order to do a business viability study and finalise the product design.
Understands and manages key product drivers that influence revenue streams and risk exposure on specific product portfolios.
Identifies revenue optimisation initiatives, obtains required sign-offs and coordinates implementation. This can be done through customer insights collected by the team, engagements with segment heads and understanding of current processes and procedures and proposing improvements where necessary.
Trains all sales staff on new products approved by the new product committee.
Works with marketing and communications team on campaign and go-to market strategies for all TPL products to create awareness in the market.
Conducts product insights and analysis by segment per product i.e. current accounts, savings, Fixed Deposits, Call accounts to understand the trends that impact our balance sheet.
Profitability Management
Tracks product performance and profitability (financial performance) using financial reports and product performance reports from MI team, proposes and implements decisions on which products to focus on or revamp.
Contributes to product budgeting for both Net Interest Margins and Net Interest Revenues by working closely with the Finance manager, Head Products and Segment Heads.
Complies with the governance of product pricing by participating in the pricing committee discussions and adhering to the pricing manual.
Manages product costs through process rationalisation and building efficiencies through cheaper digital channels.
Develops accurate forecasts and outlooks on pricing based on the macro economic trends, performance of the market, customer feedback, etc.
Curbs income leakages by reviewing the transactions volume report from MIS, analysing it to check for leakages.
Works closely with support functions such as Credit to ensure appropriate policies and limits are in place as well as determining the correct pricing.
Develops effective acquisition and retention tactics to achieve profitability targets and share with the sales teams on a regular basis.
Analyses market dynamics, pricing trends, market opportunities, operating and sales margins in order to develop reports, procedures and tools for pricing and price discounting.
Assesses the impact of pricing changes on the bottom-line as well as on customers and shares report with Head, Products on a quarterly basis
Establishes metrics for evaluating the performance of the pricing strategy and implements for use by the liabilities and products team.
Validates that the metrics used are aligned with the pricing strategy and goals of PBB Product.
Continuously monitors price exceptions to determine whether process or policy adjustments are needed.
Monitors the financial results and performance of price strategies within the business segments in order to validate and recommend appropriate pricing strategies for each segment.
Customer Service
Develops and understands core customer insights through customer visits with Relationship Managers and customer forums organised by the bank.
Develops sales / cross-sell tactics aligned to overall customer offerings which are indicated in the customer value propositions per segment.
Collaborates with Digital Channels to drive digital agenda for all products to improve on the customer experience.
Manages dormancy and attrition trends on liabilities and deriving initiatives to curb the same.
Ensures the products are effectively positioned in market, and that the right awareness is created and effectively positioned with the target market.
Drives quality service for new and existing clients with an aim to retain and expand the client base by communicating activity plans to service and sales teams that are derived from the CVPs.
When required, present to customer-facing staff the rationale for price changes and the introduction of new fees and services.
Ensures correct implementation of pricing for all customers, including Franchising and Public Sector entities, as well as key Mid-Corporate customers.
Interprets customer, competitor and market segment insights and analytics in order to derive an understanding of customer needs / wants /behaviours to identify opportunities for development of new products.
Segment and Branch network support
Drives the direct sales process to ensure sufficient leads are provided to the outbound call centres and sales teams in PBB.
Assists with sales and marketing plans by enhancing and managing the implementation of new opportunities to increase acquisition and retention.
Determines and develops product awareness and training (and supplies this as input to Learning and Development) detailing the target market for the products / solutions. Ensures that Channel, Credit and the Specialised Sales teams are adequately trained on the offerings in order to drive the take-up ratio and minimise attrition rate.
Engages, builds and manages relationships with key internal and external stakeholders that may influence outcomes on the portfolio. Examples of such internal stakeholders are: Business / Commercial Banking; Segment Heads, Regional managers in customer channels, Credit.
Together with the sales team, sets annual targets on the portfolio and aligns all marketing / stakeholder initiatives that are implemented to support such targets.
Improve Efficiencies
Resolves all escalated customer and branch queries timeously.
Assists with the resolution of operational issues and functionality problems on the different products.
Identifies and resolves issues around pricing and margin management.
Evaluates and summarises monthly financial reports highlighting areas of positive performance and focuses on areas of concern or weakness in order to recommend remedial action.
Prepares and presents New Products Proposal Committee (NPPC) papers and Credit Risk Management Committee papers to ensure that the correct level of governance and approval is attained through the development phase of any new products
Managing credit risk within accepted “risk appetite thresholds” of the portfolio.
Accountable for all compliance requirements in the portfolio, as well as the management of key risk indicators used to contain/mitigate operation risks and business continuity management plans.
Identifies inherent risks of the portfolio and make recommendations in risk mitigation and / or exit strategies for high risk pockets.
Identifies business challenges and drive process efficiencies to improve service delivery and TAT.
People Management
Responsible for the recruitment, development and retention of relevant skills in order to meet the business needs.
Ensures skill assessments and competency-based training takes place as and when required.
Takes personal responsibility for coaching and mentoring others.
Ensures the implementation of the leadership promise and employee engagement programme.
Develops and maintains an open communication channel with direct reports and supports staff to foster greater co-operation and teamwork.
Monitors and manages the performance and development of staff within the area. This includes regular one-on-one feedback sessions, conducting mid-year and final performance appraisals, as well as the moderation and relative distribution of all appraisals for the team.
Drives the Talent Review Sessions and succession planning, in conjunction with Human Capital.
Ensures staff are appropriately and consistently rewarded and recognised for their achievements and outputs.
Ensures that disciplinary action and grievances are addressed and aligned to the policies and procedures.
Qualifications, Skills and Experience:
The ideal candidate for the Stanbic Bank job placement must hold a First Degree in Finance and Accounting
Other qualifications, certifications or professional memberships i.e. CPA, ACCA,
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