Job Opportunity at Absa Bank – Liability Product Support

Liability Product Support

About the job

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

Retail Products department is a unit within the Retail Banking department responsible for Product Development, Campaigns, Promotions, Innovations, Product Profitability, Market Intelligence and Pricing. The unit is currently responsible for retail asset products and liabilities.

The job holder will be responsible with all liability products related initiatives including product development, campaigns & promotions, product pricing and profitability monitoring. The support staff will have a responsibility of revenue assurance for liability products and balance sheet growth. The incumbent will have a direct reporting line to Head of Retail Products and Strategy.

Job holder will have 50% responsibility on Business Management, 30% on Product development & implementations and 10% on technical support & stakeholders’ engagement and 10% on Risk and Control environment.

Job Description

Business Management (50%)Business Management (50%)

• Provide revenue assurance to head of retail products by regular monitoring of product fee and charge methods application to determine if there are fee leakages in the system.
• Dormancy Management for Merchant customers
• Undertake local market research to provide management information to retail business on liability products
• Support Head of Products on pricing strategy to local pricing models and manage the publishing of pricing guides
• Attending redirect entries by establishing root cause and design appropriate resolution to address system issues.
• Review of product brochures, website product contents and other public sites to ensure they contain relevant data and information related to products before printing or publishing to public or distributing to sales channels
• Responsible to perform monthly Cashback rewards programme for cards and digital channels (Twin Reward Programme)

Product Development & Implementations (30%)

• Building business case and seeking relevant approvals for new liability products
• Work in collaboration with protect team to ensure all new products undergo UAT tests before implementation and post implementation reviews
• Support Head of Retail Products on implementation of new liability products
• Responsible to perform liability product enhancements required for the existing products
• Engage with internal and external stakeholders to generate sales for liability products.
• Responsible on steering all activities required as per Product Risk Governance forum process for liability products
• Contribute towards continuous improvement efforts or initiatives for liability products.

Technical Support & Stakeholders Engagements (10%)

• Provide feedback to retail business on local competitor product activity
• Liaise with Head of Product and people function to support on designing and delivery of appropriate training and give input into sales strategies.
• Complaint Resolution through attending liability related complaints channelled through customer service unit.
• Liaise with Head of Product and Technology team to address all system issues related to retail liability products
• Liaise with Head of Product and MCR team to ensure channels and websites they display appropriate products and services for retail liability products including pricing (Tariff guides)

Risk and Control Objective (10%)

• Report any risk event immediately when you become aware off
• Understanding of own role in the end-to-end processes in which you play a part, including applicable risks and controls.
• Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgment and responsible risk management.
• Keep up to date on all regulatory changes and can articulate the impact to the Business, be well informed on the industry thinking in relations to consumer behaviours
• All mandatory training completed to deadline.

Education And Experience Required

• University degree or equivalent in a related field of study.
• Have thorough understanding of business dynamics across the business to leverage on multiple product / service needs of Bank customers to better position liability products as a key part of a truly valuable customer proposition / offer.
• In-depth knowledge of competitor solutions
• Fully aware of industry trends (in country and overseas)
• Knowledge of Absa Group and ABT strategies
• Experience of a similar nature in the banking industry will be an added advantage.

Preferred

• Knowledge on information systems
• Strong business analytics
• An up-to-date knowledge of industry related developments

Education

Further Education and Training Certificate (FETC): Business, Commerce and Management Studies (Required)

CLICK HERE TO APPLY