Reports to : Assets and Liabilities Manager
Department : Wholesale Banking
Location : Maseru
JOB PURPOSE:
To provide the bank with informative analysis concerning product development and product performance while also employing strategies to determine the best affordable pricing for the Bank’s products.
DUTIES AND RESPONSIBILITIES:
1.PRICING
• Analyses Pricing Data – The Analyst uses several quantitative and qualitative methods to analyse competitor pricing, assesses market share and margins, and tracks customer engagement in order to gain a complete picture of effective pricing strategies for the Bank’s offerings.
• Develops Forecasts and Models – The Analyst plays an important role in helping Bank forecast revenue and market share information. He/she uses a variety of statistical modelling methods to prepare reports that show the potential impact of various pricing strategies, including their effect on margins and costs and how they will impact profitability and sales volume.
• Determines Pricing and Marketing Strategies – In this role, the Analyst works closely with sales and marketing personnel to develop and enact competitive pricing strategies.
• Monitors Industry Trends – By actively monitoring industry trends, the Analyst must develop strategies that take advantage of untapped market segments and help the company gain market share in new avenues. If the pricing analyst discovers a trend that they believe has the potential to improve sales volume or profitability, they may recommend pricing strategies that align closely with these
trends.
• Presents Findings to Key Decision-Makers – This aspect of the role requires Analyst to translate complex data into actionable strategies and techniques to drive sales and enhance marketing efforts. The pricing analyst may prepare both written reports and visual presentations to share findings.
2. PRODUCTS
• Product Administration: The Analyst is responsible for the development and proposal of overall product strategies, innovation, presentation of marketplace outcome projections, as well as product culture development.
• Initiative: The Analyst also has an obligation to contribute to the work environment of the Product Management team, which drives the product’s performance.
• Communication: The Analyst ensures that there is clear communication of the overall strategy to the team. The Analyst ensures this by actively participating in team meetings and keeping everyone up to date with product developments.
• Product Simplification: The Analyst is also responsible for formulating ways in which to package and market products in such a way that they become differentiated, compelling, easy to sell, and easy to buy.
• Product Rationalisation: The Analyst identifies and manages the on-going rationalisation of the Banks’s products in order to ensure that there is an efficiency and effectiveness in product management.
• Product Management Operations: The Analyst also has the obligation to respond in a timely manner to all requests and enquiries for product information or changes. He/she performs the initial product analysis in order to assess the need for any requested changes as well as their potential impact.
• Financial modelling: The Analyst on the products or services of the business as well as of the target markets in order to bring about an understanding of the relations between the product and the target market.
• Reporting: The Analyst produces reports and makes recommendations which can be used as guidance in decision making pertinent to the Bank’s new as well as existent products.
• Pricing and Development: The Analyst has the responsibility to monitor the market, competitor activities, as well as any price movements and make recommendations that will be used in key decision making.
• Customer/Market Intelligence: The Analyst has the obligation to drive consumer intelligence through the development of external and internal data sources that improve the business’s understanding of the product’s market, competitor activities, and consumer activities. This is to enable fact-based decisions that direct the business’s product marketing management endeavors.
• Risk Management: With the support of both the internal and external stakeholders, the Product Analyst ensures that there is compliance with relevant legislation, regulations, and ethics.
EDUCATIONAL REQUIREMENTS AND EXPERIENCE:
• Honours Degree in Financial Mathematics/Computer science/Statistics qualification;
• Knowledge in financial modelling, forecasting and costing is a prerequisite;
• Thorough knowledge of finance will be an added advantage;
• Experience in banking is essential with knowledge of banking products and pricing models.
GENERAL KNOWLEDGE, SKILLS AND ABILITIES:
• Thorough understanding of both theoretical and practical aspects of own professional discipline;
• Knowledge of pricing methodologies;
• Knowledge of banking products and banking departments’ performance;
• Grasp of information technology concepts and processes;
• Analytical and problem-solving skills;
• Presentation Skills;
• Teamwork and collaboration;
• Strong numerical, analytical, communication, business acumen and leadership skills;
• Computer literacy is a prerequisite, MS application including MS SQL;
• Reporting skills with ability to produce quality report for management and executive.
How to Apply:
Applications (including names of three referees) accompanied by certified copies of relevant certificates
should be emailed to [email protected] or to [email protected]
or hand delivered to:
Human Resources
Lesotho PostBank
MafikeHouse, 1st Floor
Maseru, Lesotho
The closing date for submission of applications is 11th September, 2020.
DISCLAIMER: ONLY SUCCESSFUL CANDIDATES WILL BE CONTACTED