Primary Purpose
Management of the Card Issuing portfolio to ensure sustainability and competitiveness through developing features and solutions; ownership of the income statement to drive revenue and reduce costs; conducting market research; generating product requirements; sales and marketing initiatives; determining specifications production timetables; pricing; time-integrated plans for product introduction; developing strategies for the product in line with the Bank’s strategic objectives; whilst ensuring
that the appropriate governance is applied.
Minimum Requirements
- Bachelor’s Degree in Commerce or equivalent.
- Post Graduate qualification in Commerce would be ideal.
- 7 years’ work experience, of which 4 years was in product development and/or management and 2-3 years general banking experience
Technical Competency Requirement:
- Product management skills
- Advanced understanding of Card Issuing value chain
- Knowledge and understanding of business drivers.
- Practical application of knowledge and skills to drive business growth and meet customer needs.
- Knowledge of work required in designing, developing and introducing new Card Issuing products.
- Understanding of loyalty offerings and impact on costs and profitability.
- Analytical, confident, and competent self-starter with excellent organizational skills
- Deadline- and target driven with a high attention to detail.
- Excellent written and verbal communication skills with a strong ability to influence and negotiate.
- Work well under pressure, resilient and manage stress effectively.
- Advanced knowledge of the regulatory environment in payments, including industry bodies such as PASA, Bankserv and Card Schemes such as MasterCard, Visa, Dinners Club, American Express etc.
- Advanced knowledge of the Card Issuing business including various product types such as Business Debit Card, Business Credit Card, Fleet Card, Prepaid Cards, Procurement Card etc.
- Understanding virtual card offerings
- Good business acumen with the ability to anticipate problems and identify possible preventative measures.
- Strong relationship building and teamwork skills
Duties and Responsibilities include but not limited to:
FINANCIAL MANAGEMENT
• Manage the income statement and drive economic profit by ensuring that products are profitable and meets customer needs.
• Determines product pricing by utilizing market research data; reviewing production and sales costs; anticipating volume; costing special and customized orders.
• Understand business requirements and put together plans in terms of growing the business.
(short-term and long-term)
• Executing, tracking, and leveraging revenue and cost items.
• Ensure financial objectives for are met by overseeing forecasting requirements; preparing a- consolidated annual budget; analysing overall variances; and direct corrective actions within the team.
• Analyse reasons for variances and which levers to pull to ensure that budget is achieved. Advise the product managers what changes to implement.
• Provide input into the budget process and the sales targets.
• Working with sales staff to develop product sales strategies.
• Working with marketing staff to deliver integrated marketing plans.
• Monitor activities and costs related to utilisation of resources required to meet operational requirements.
• Continuously review performance of the area against scorecards, targets, and processes to address any gaps.
• Measures:
o Increased portfolio size
o Achievement of financial targets
o Increase Market Share
CUSTOMER CENTRICITY
• Review customer requirements and address product-related queries and complaints
• Engage with external parties, e.g. PASA, Visa and MasterCard and vendors, e.g. Emid, DT and APW to maximize their performance and build constructive relationships
• Provide support to front-line sales with product knowledge, customer queries and pricing.
• Resolving customer queries across the product suites
• Develop and maintain relationships with internal stakeholders to ensure success of projects and to deliver the required products and services.
• Assist and support technical teams with queries relating to any ongoing analysis, development, and operations.
• Respond in a timely manner to all requests and enquiries for product information or changes.
OPERTIONAL EXCELLENCE
• Recommends the nature and scope of present and future product lines by reviewing product specifications and requirements, appraising new product ideas and/or product or packaging changes.
• Ensuring competitive analysis on similar products which other competitors offer.
• Translate product strategy into detailed requirements and prototypes.
• Scope and prioritize activities based on business and customer impact.
• Implementation of a new product/idea in accordance with the analysis.
• Downtime management: proactive management of Card Products, setting up critsit meetings with vendors and key operations staff, ensuring proper communication with internal stakeholders and external stakeholders and customers.
• Develop contingency plans to be deployed in events of failures.
DATA MANAGEMENT
Work closely with Data Team to ensure data and reporting are developed adequately to:
• Provide Customer Insights
• Product Insights
• Optimise products and identify opportunities through data led findings
STAKEHOLDER MANAGEMENT
• Review customer requirements and address product-related queries and complaints, including assisting with special rate requests.
• Engage with external parties, e.g., PASA, Visa and MasterCard and vendors, e.g. Emid, DT and APW to maximize their performance and build constructive relationships
• Provide support to front-line sales with product knowledge, customer queries and pricing / rate changes.
• Resolving customer queries across the product suites
• Develop and maintain relationships with internal stakeholders to ensure success of projects and to deliver the required products and services.
• Assist and support technical teams with queries relating to any ongoing analysis, development, and operations.
• Respond in a timely manner to all requests and enquiries for product information or changes.
PODUCT DEVELOPMENT
• Develop and test new products and/or implement product enhancements based on an approved Business Case provided by Product Manager (after Project Steerco approval)
• Ensure products are developed for individual and/or business clients as per the following methodology and/or deliverables:
o Product Plan and Strategy – includes all the ‘P’s, e.g., Product features, benefits; pricing; distribution- and service channels; processes & procedures; SWOT
o Evaluate the company products and compare them against industry trends.
o Assisting with input into established processes, e.g. New Product Approval; Project Management; Business Analyst engagement; Business Requirement specifications; Test plans; Change Management
o Documentation and reference material for customers and staff, e.g. User Guides, Forms and Manuals
Briefing and driving the relevant departments, e.g. Marketing, Sales Campaigns, Training and Call Centre to ensure that all functions achieve the required objectives
LEARNING AND GROWTH
• Take ownership for driving own career development.
• Prepare and obtain sign off on your Personal Development Plan
• Achieve the objectives/milestones set out in the development plan.
• Review performance on a regular basis (monthly, quarterly, and annually)
This position is advertised in line with our commitment to Employment Equity.