Reports to: Deputy CEO
Location: Head Office, Nairobi
The role is responsible for formulating and driving execution of strategic agenda for Retail and Commercial Banking Products aimed at maximizing growth, market share & profitability. The product portfolios encompass all SME products, Personal Unsecured Facilities, Credit Cards, Personal Secured Facilities (Mortgages & Facilities against Collateral), Minor Accounts, Deposits & Employee Banking.
- Develop and execute segment-led product management & portfolio optimization strategies in Retail and Commercial Banking Products to achieve the goal of maximizing Product Contribution.
- Build and oversee business development and engagement model with external business partners critical to strengthening product offering value proposition and revenue growth of product portfolio.
- Manage & optimize portfolio risks in conjunction with the business teams and Risk department.
- Manage and maintain the development of strong and differentiated product propositions for Retail and Commercial Facilities and Deposit propositions for both SME and Personal Banking segments
- Manage development of suitable customer value propositions to ensure sustained competitive advantage on a continuous basis for SME, Individual mass market, emerging affluent and affluent customers
- Derive insights to competitor strategies and take proactive steps to protect the Bank’s market share
- Ensure the implementation of appropriate systems and operational procedures to support sales, track MIS and profitability
- Launch and Manage new and innovative products
- Through regular trainings, align the frontline teams to focus on selling the right products and CVPs to clients
- Manage the Retail, SME and Commercial Portfolio to achieve the NII and NFI budgets
- Manage the Credit card product proposition including revenue ownership for interchange.
- Selectively broaden product offerings to maximize “Share of Wallet” for Retail and Commercial customers
- Manage the development and implementation of strategies to cover Customer & Segments, Channels, and Processes.
- Drive the system towards service quality standards in an efficient operation where risks are well controlled (through product process re-engineering)
- Plan and implement long and short-term direct and indirect promotions and account management strategies to perform different types of sales programs/campaigns to achieve the annual targets of specific products and segments
- Champion the evaluation and maintenance of credit approval criteria so as to maximize customer enrolment, properly balanced against credit risks and NPLs
- Manage, motivate and train Officers/ manage your team by providing on job training, setting guidelines and standard, career planning and counseling
- Formulate and implement Business and Marketing Strategies in line with overall Retail and Commercial Banking Business Goals.
- Drive the product alignment activity for the Products in line with the overall plan. Innovate and develop new offerings on need basis
- Conduct competitor analysis to ensure profitability of Retail and Commercial business is optimized
- Ensure effective Internal Control systems are in place and related procedures and techniques are developed and implemented so as to minimize credit and other operational losses.
- Develop service delivery agreements and ensure compliance to set TAT for different products and processes for Retail and Commercial banking
- Financial Key Performance Indicators(KPIs)- Revenue and Profit, Balance Sheet growth, Margin & Pricing
- Maximize business performance and achieve “Best in Class” profitability by product line
- Segment-Led Bundled Offer Value Proposition (CVP) tailored for all segments
- E2E Process, Turnaround Time & Quality Architecture & Standards
- Product/Proposition Campaigns/Rewards and Marketing Program Management (In Liaison with Marketing Department)
- 3rd Party Vendor/Alliances Management/Partnerships
- Enhancing, maximizing and developing Retail and Commercial Banking’s profitability and optimizing market share of
- Retail and Commercial banking through Balance sheet growth and optimization
- Sound profitable growth through management of the key products and relationships – The primary impetus to the sales and branch networks in the achievement of product-wise sales targets
- Maximizing Profitability and Market Share of the Deposit accounts, Card Business, Secured, Unsecured Facility products and SME products by focusing on new customer acquisition strategies, customer life-cycle management and business cycle management
- Develop and implement strategies to implement a unique service experience to the customer base through process re-engineering
- Manage the Fee Structure, revenue generation and NPLs
- Conduct regular product revenue reviews to minimize revenue leakage across all products and CVPs
- Optimize Business by lowering cost, including all product related costs, through the implementation of Operational Efficiencies
- Develop and oversee customer/account activation and reactivation programs to steadily increase the volume and value of transacting customers
- Create a formal and informal feedback systems to analyze product performance
- Control and periodically check operational risks and workflow in conjunction with Operations
Knowledge and experience
- Business related degree from a recognized university.
- At least 5 years’ experience in Product development and management
- Track record of successful implementation of product variants and innovative customer offerings.
- Experience in running a large portfolio of products and segments
- Experience in business planning relating to sales, distribution and service
- In-depth knowledge of Retail and Commercial banking products (SME and Personal Banking)
- Strong Analytical skills
- Advanced knowledge of the Microsoft Office suite, knowledge of SQL an added advantage.
- Good presentation and Data analytical skills
- Strong communication and negotiation skills with the ability to influence outcomes
- Ability to manage and implement change initiatives
- Strong inter-personal skills and leadership ability – encourages enthusiasm and team spirit
Please note that only candidates meeting the minimum qualifications and competencies will be invited for interview.