Summary
Date Posted: Wednesday, August 21 2024, Base Salary: Not Disclosed

JOB DETAILS:
Job Summary
• To manage and support the Absa bank Liability Product range on day-to-day basics and ensuring the business remains competitive while achieving its stated income and balance sheet targets
• Support strategic product development, management, optimisation of products and customer experience.
• To recommend and support implement new Liability product developments and enhancements to the existing product set
• Understand Absa competitive position for each Liability product and sector of the market to make recommendations in respect of pricing and market potential
• Ensure Regulatory compliance of liability products stay updated

Job Description
Accountability: Business Direction
Outputs:
• The role holder will have responsibility for ensuring income and balance sheet targets are met for Retail liability products
• Contribute to research and identification of innovative solutions and strategies to adapt to the changing market and product enhancements that will meet customer needs and increase customer loyalty.
• Work hand in hand with Segment manager to continuously review customer segmentation basis and recommend suitable product activity to target and sustain viable segments in line with Retail Strategy.
• Monitor and provide feedback to the Deposit Manager on local competitor analysis, Liability product activity, including pricing on a quarterly basis or ad hoc should the need arise
• Propose suggestions of product differentiation that will see the bank apart from competitors and appeal to target market.
• Provide insights and recommendations on the future direction of liability products and potential areas of for growth or expansion.
• Co-ordinate production of a uniform Tariff for Retail customers, which is easily understood by customers and staff and easy to administer.

Accountability: Business Management
Outputs:
• Manage the process for interest rate changes/pricing in line with product pricing strategy, central guidelines and governance and rectifying errors where identified
• Work with Retail Sales and governance teams to ensure appropriate liabilities product sales are in place
• Provide business input for implementation of new liability products by:
Engaging relevant stakeholders
Building a business case
Managing the development process where required
Completing all liabilities product testing
Building a detailed implementation plan (Including NAPA presentation were necessary)
Closely monitoring local implementation of promotional campaigns, incentives and offers to encourage deposit account openings.
• Provide ongoing training on product features, compliance procedures and customer experience to colleagues.
• Analyse Sales performance data, identify trends using performance metrics and make recommendation for improvement to enhance efficient sales productivity.
• Resolve customer complaints timely which will involve investigating, addressing root cause and implement corrective measures to prevent recurrence.
• Review and feedback into customer satisfaction surveys, responding to customer product feedback.
• Develop and implement strategies to help overall enhance customer retention and loyalty for Absa liability products.

Accountability: Risk, Governance and Regulatory
Outputs:
• Identify and assess potential internal and external risks that may impact liability operations and ensure timely escalations
• Ensure Regulatory compliance of liability products stay updated
• Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Absa Policies and Policy Standards.
• Understand and manage risks and risk events (incidents) relevant to the role and ensure timely escalations to risk and governance teams

Accountability: Relationship Management
Outputs:
• Develop and maintain excellent relationships with Business functions as well as Communication Managers and the MCA function.

Education
Higher Diplomas: Business, Commerce and Management Studies (Required)

Job Experience: No Requirements

Work Hours: 8

Experience in Months:

Level of Education: Postgraduate Degree

Job application procedure
• To apply for this job please visit absa.wd3.myworkdayjobs.com.

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