Head of SME Banking

3 days ago

Sandton, South Africa Discovery Limited Full time

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Head of SME Banking

Business Unit: Discovery Bank

Function: Product Management (Technical)

Date: 18 Mar 2025

About Discovery

Discovery's core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

About Discovery Bank

Discovery Bank is a bank like no other – a shared-value bank, designed with our clients in mind. We're all about sharing the value that clients create when they manage their money well, back with them through exceptional interest rates and rewards. Our Vitality Money programme measures how well clients manage their finances, informs them of what it means to be financially healthy, and empowers them with the knowledge to get enhanced rewards for managing their money well. If you're adaptable, a problem-solver, always questioning the way things are done, passionate about doing what is right, and obsessed with providing a quality service experience, we have a job for you where you can be your best in an environment that's safe and nurturing.

Job Purpose

As part of the Research and Development (R&D) team in Discovery Bank the candidate will be responsible for driving the research, feasibility analysis, business case and market entry strategy for small business banking in Discovery Bank. This person will need to manage complicated workstreams, spanning different teams and functions to drive the establishment of a new business line in Discovery Bank.

Areas of responsibility may include but are not limited to:

Research and product development

  1. Conduct research into the small business banking market landscape, sizing, opportunities and potential profit pools.
  2. Drive the conceptualisation and feasibility assessment into priority target markets and propositions.
  3. Develop comprehensive business case and market entry strategy for small business banking solutions.
  4. Drive the feasibility analysis and required Executive Committee and Board approval processes within Discovery Bank.
  5. Identify and drive key commercial engagements with potential partners.
  6. Undertake effective ongoing stakeholder engagement and collaboration.
  7. Assess process and business risks to ensure minimal risk to the organization.
  8. Have excellent technical and communication skills to present proposals to and take guidance from the Executive team in Discovery Bank.
  9. Once approved, lead the development of products, including but not limited to the product design and specification, working with the systems teams running the development.
  10. Work with leadership teams across the business to define solutions, delivery and alignment to business and IT strategies.
  11. Work with the Project Management Office to ensure that the project and broader business is to go-live.

Business ownership

  1. Business ownership of the Small Business Banking product portfolio, and how it performs in the market.
  2. Take ownership for the prioritization, planning and success criteria.
  3. Drive detailed analysis into the take-up, usage and financial performance of the product offering.
  4. Work directly with the pricing team to optimise margin and pricing strategies in the portfolio.
  5. Provide analytical and specialized input to project teams, servicing, operations.
  6. Render specialist support for complex client cases that require decisions based on special circumstances.

Personal Attributes and Skills

  1. SMME banking experience
  2. Payments and/or acquiring experience
  3. In-depth understanding of banking profit drivers
  4. Excellent analytical skills
  5. Strong communication
  6. Ability to drive complex, multi-faceted projects
  7. Entrepreneurial mindset with a passion for supporting start-up growth and innovation

Education and Experience

  1. Actuarial/B Engineering/Finance or IT qualification is preferred
  2. Minimum 10 years in a product development, business owner or executive role in banking/financial services
  3. Strong understanding of regulatory requirements and compliance issues related to small business banking.

EMPLOYMENT EQUITY

The Company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.

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