Senior Manager: Product

1 week ago


Johannesburg, 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 Product Manager is accountable for managing specific functions within the Home Loans portfolio looking at segment or insurance/bancassurance related components.

**Job Description**:
Accountability: Product Development and Management
- Constantly refine and improve the Customer Value Proposition (CVP) through ongoing innovation, development and refinement. Propositions must include a comprehensive view of products, pricing strategy, channel configuration, service, customer experience and marketing elements (in conjunction with the Insurance partners where applicable)
- Design and implement optimal customer contact strategies including defining the most appropriate channel per product and customer to ensure optimal customer journey / experience
- Engage with relevant Everyday Banking and Product Solutions Cluster stakeholders to ensure that robust customer insights and analytics inform all propositional strategies and initiatives.
- Develop customer acquisition and retention strategies to improve sales, improve lending ratios and reduce customer attrition.
- Work with Marketing and other stakeholders to develop merchandising, ad campaigns and other product materials to support product awareness and fulfilment conversions.
- Support channel management to ensure that all frontline colleagues are fully versed on our value propositions, offers and campaigns and well equipped to serve our customers. This will include development of training and support materials for branch and sales consultants.
- Interface with broader Retail Bank product and channel areas, setting up constructive engagements with the view to seek synergies.
- Engage with relevant RBB and Product Solutions Cluster stakeholders to ensure that robust MI is available to effectively measure performance against objectives.
- Undertake regular competitor and market research, through collaboration with Strategy, Analytics, Sales, Insurance and other stakeholders to determine the needs of customers and the business unit's competitive position

Accountability: Commercial Performance
- Deliver commercial performance against annual targets set
- Continuous review of product and portfolio performance delivering key actions where necessary
- Identify and uplift new / additional revenue generation and cost reduction opportunities
- Ensure on-going BAU compliance of all products to relevant regulations and policies
- Implementation of pricing strategy and governance with bancassurance integration to optimise revenue and to minimise revenue leakage
- Ensure processes for benefit tracking per product, segment and insurance offerings are in place

Accountability: Business Management
- Participate in group and industry forums to ensure alignment with the rest of the group and industry at large.
- Using the defined customer strategy to ensure the appropriate delivery solution is in place to meet the customer needs. Partner with and influence senior leadership.
- Implement the best-in-class customer experience to all clients
- Proactively offer customer solutions to existing and new client base
- Participate in all relevant customer and sales forums and provide feedback to business and align necessary processes

Accountability: Stakeholder Management
- Ensure all stakeholders are fully engaged including Retail, CIB, AIC, Absa Life, Operations / Service Enablement, IT, Legal, Channels, Segments, Sectors, Finance, Risk and Compliance
- Work closely with stakeholders / other business units in setting targets and driving the product and franchise value creation aligned with strategic objectives
- Manage key stakeholder relationships proactively
- Manage and maintain key industry stakeholder relationships (where applicable)
- Represent Absa at relevant industry platforms (where applicable)

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
- For audit findings that have an impact on the business, agree around the actions required and implement the required actions
- 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

Education and Experience Required
- B Degree - NQF 7

Experience Preferred
- Previous experience in the Financial Services Industry or



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