Manager Pricing and Profitability

2 weeks ago

Johannesburg, Gauteng, South Africa Absa Bank Limited Full time
Bring your possibility to life Define your career with us

  • With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary


The purpose of the role is to develop, implement and monitor the effectiveness of the Pricing strategy for Retail Credit Risk.

This includes usage of the Profitability Model to monitor expected profitability of new business, estimate total book profitability (including fair value assessments), facilitate changes to the pricing strategy and challenge and enhance the pricing control environment.

Also including management of the policy rules and affordability assessment new loan.

This role is across all 3 unsecured products.

Job Description:

Accountability:
Monitor and Report on Estimated Profitability

  • Monitor and report new business expected profitability, considering pricing, risk profile, cost structure and funding costs.
  • Monitor total book expected profitability, including fair value related assessments.
  • Across all 3 Unsecured products

Accountability:
Pricing Strategy

  • Based on above, challenge pricing strategy where appropriate and initiate changes to address concerns.
  • This includes both variable and fixed rate pricing strategies across all 3 unsecured products.

Accountability:
Pricing Control Environment

  • Monitor pricing exceptions.
  • Based on above, challenge pricing control environment and facilitate changes as required based on potential concerns identified.

Accountability:
Policy and Affordability rules

  • Monitor performance on policy and affordability rules in line with regulation
  • Regularly review the rules to ensure optimal risk management of the portfolio
  • Align where possible all policy and affordability rules across all 3 unsecured products.

Accountability:
People Management

  • Ensure delivery of business goals by aligning Performance Development (PD) Plans of direct reports to the business goals.
  • Instill a performance development culture through directing the PD process and adhering to the PD calendar.
  • Proactively identify development areas of direct reports and compile development plans to address them.
  • Attract and retain talent, with the assistance from the HR Business Partner.
  • Interview and recruit new members of the team, including determining appropriate compensation levels with input from HR.
  • Initiate disciplinary action process as and when required, with the assistance of the Employee Relations Consultant.
  • Act as the first line of escalation for all grievances.
  • Conduct monthly meetings with the team to address performance gaps.
  • Effectively lead team members and ensure their efforts are recognized
Education and Experience Required

  • Bdegree in risk management, statistical analysis Actuarial Science, Maths Statistics, Finance or equivalent NQF level 7 qualification
  • At least five (5) years credit risk experience required
  • At least two (2) year management experience
  • SAS and Advanced Excel capabilities

Knowledge & Skills:

  • Understanding of different Pricing methodologies and strategies
  • Credit Risk Modeling
  • Credit Pricing
  • SAS
  • Analytical skills
  • Modelling skills
  • Sound understanding of Financial and Management Accounting
  • Cost Allocation theories etc
  • Good understanding of ABSA Pricing and Product systems
  • Communication, Networking and People skills
  • Understanding of customer analytics and segmentation models
  • Understanding of statistical models
  • Understanding of Customer Experience processes and policies
  • Management Skills
  • Project Management Skills
  • Mathematical Skills
  • Ability to manage diversity and complexity
Education

Bachelor's Degrees and Advanced Diplomas:
Business, Commerce and Management Studies (required)

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

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