Job Purpose
Responsible for designing and modifying existing product portfolio to meet customer and market needs while ensuring correct segmentation and revenue assurance in alignment with the bank’s strategy.
Job Responsibilities
- Understand, conceptualise, develop relevant product and service offerings and/or client value propositions informed by research and segment and client insights; competitive pricing and understanding client needs – in partnership with key stakeholders
- Manage product profitability by monitoring product and CVPs performance against targets and recommending initiatives for CVP and/or product usage and uptake.
- Work with business areas to drive Client Value Management (CVM), life cycle management and driving retention, acquisition, usage.
- Ensure that product adheres to all compliance and operational risk and security standards by following the legal; risk and compliance governance processes.
- Data driven reporting on product performance to both Retail and CIB business
- Creation and updating of client journey maps and personas to influence product design and/or modification to meet customer needs and changing market dynamics
- Collaborate with Marketing team to share product knowledge with clients
- Product training – Responsible for making sure that front line staff are fully trained in each product, including benefits, features and onboarding procedures
- Responsible for revenue assurance
- Assist in the development of the Bank’s pricing strategy and recommend new pricing to the business aligned to the strategy and targets.
- Help identify risks and areas of revenue leakage and develop strategies to effectively curb leakages
- Present recommendations to the Product and Pricing committee.
- Rigorous system testing pre and post Pricing deployment
- Identify and engage with all relevant stakeholders across the business to ensure good implementation of initiatives.
- Support the achievement of the business strategy, objectives and values by reviewing Nedbank and Business Unit Plan and ensuring delivered systems, processes, services and solutions are aligned.
Essential Qualifications – NQF Level
- Advanced Diplomas/National 1st Degrees
Preferred Qualification
- Post Graduate Degree in Information Technology / or Economics /or equivalent
- Bachelors Degree in Information Technology / or Economics /or equivalent
Minimum Experience Level
Minimum three (3) years in product management, product pricing or business performance analysis.
Technical / Professional Knowledge
- Change management
- Client service principles
- Communication Strategies
- Diversity management
- Operations planning
- Relevant regulatory knowledge
- Strategic planning
- Business writing skills
- Quantitative analytical techniques
- Problem solving skills
Behavioural Competencies
- Earning Trust
- Coaching
- Communication
- Decision Making
- Business Acumen
- Driving for Results
- Planning and Organizing
- Delegation and Empowerment