Job Title: Officer Savings and Wealth Products
Organisation: Stanbic Bank
Duty Station: Kampala, Uganda
Job ID: 17725
Stanbic Bank Uganda Limited is a subsidiary of Stanbic Africa Holdings Limited which is in turn owned by Standard Bank Group Limited (“the Group”), Africa’s leading banking and financial services group. The Standard Bank Group is the leading banking group focused on emerging markets. It is the largest African banking group ranked by assets and earnings. Stanbic Bank Uganda Limited is the largest bank in Uganda by assets and market capitalization. It offers a full range of banking services through two business units; Personal and Business Banking (PBB), and Corporate and Investment Banking (CIB).
Job Summary: The Officer Savings and Wealth Products will grow the Liabilities book through wealth creation and retention by strategic planning, product design, product management and product performance of PBB Savings and Wealth Products
Key Duties and Responsibilities:
Product performance and profitability (financial performance):
- Product target setting (budgeting)
- Product alignment with customer value propositions and the business operating model
- In charge of the identification of new business, revenue and cost reduction opportunities for savings and wealth products
- Liabilities deposit balance growth
- Effective margin management
- Account management (Dormancy, Inactive, Zero Balance accounts)
- Product revenues (net interest income and non-interest income)
- Product costs monitoring
- Product level profitability and Optimisation of profit on each of the product lines
- Develop and understand core customer insights
- Sales/cross-sell strategies aligned to overall customer offerings
- Customer information, Product brochures and catalogues, Website updates
- Product training material.
- Work closely with Digital Channels to drive digital agenda for Business Banking with reference to savings and wealth products
- Grow the deposit base
- Support sales and distribution across segments
- Retention and management of existing deposits
Product Insights and analysis by segment:
- Tactical marketing initiatives
- Conduct competitor analysis
- In charge of new product development
Improve Efficiencies and Effectiveness:
- End to end processing across all channels
- Account maintenance and management
- Legal and compliance.
Effective monitoring of Savings and wealth products across the PBB stream
- Provide initiatives and strategies around retention and growth of the liabilities balance sheet
- Effective product interest rate management , concession management and appropriate pricing
- Effective profitability and trend analysis and management of the products (Manages the day-to-day business of the product portfolio)
- Daily Balance sheet movement report and engagement with the segments to follow the money for balances that have since dropped off the balance sheet
- Provide initiatives in regard to Balance sheet growth and the Vintage report: Balance sheet movement analysis in line with retention and wealth creation strategies.
- Analysis of the product profitability/ Provide updates on Product performance. Provide a monthly report at product level on balance sheet movement and profitability for both BB and PM
- Regularly monitor Overdrawn current accounts and savings accounts segments, the target is to have no overdrawn savings and current accounts in the schemes that do not have OD rights
- Prepare and present a product for every NPC meeting in line with the Products framework.
- In charge of ensuring that the PM and BB Handbooks are updated and circulated to the network.
- In charge of product trainings for the whole network, liaise with the Lending and Card Heads to ensure that the trainings happen timely
- On-boarding follow up through the segments to find out the cross-sell ratios in PM, and the wallet share in BB
- Support the Biz-Direct team on on-boarding and cross-sell through training and also supporting them with new initiatives
- Customer visits with the various teams along with the Head Liabilities.
- Preparation of a personal market continuum
- Support in regard to preparation information of the Sales council report/ NPC/Pricing committee- Liabilities products
Qualifications, Skills and Experience:
- The ideal candidate for the Stanbic Bank Officer Savings and Wealth Products vacancy should hold an appropriate Master’s degree/diploma with a financial component.
- Previous experience in product management
- Significant experience in the development of strategic and tactical product and business plans
- Previous experience in product design and development
- Prior exposure and experience in understanding customer behaviour
- Previous experience in interest rate management.
- Broad knowledge and understanding of business principles, macroeconomics, financial services and money markets.
- Broad knowledge and understanding of product management principles, including financials, pricing, marketing and sales.
- Business acumen to understand and drive impact of actions on product economics
- Strong analytical skills are essential
- Keen attention to detail is essential
- Numerate, with the ability to do financial modelling
- Pricing skills
- Good understanding of economics and finance
- Project management skills
- Computer literate (MS Office)
- Customer service orientation.
How to Apply:
All candidates who wish to join the one of Africa’s biggest Banking Groups, Standard Bank in the aforementioned capacity are encouraged to Apply Online by visiting Link below.
Deadline: 29th June 2016
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