Retail Liabilities Product Assistant at ABSA Group

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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)