Transactional Banking at I&M Bank October, 2023

Transactional Banking at I&M Bank October, 2023

Transactional Banking

I&M Bank October, 2023

General statements regarding the overall objective of the position, main purpose of the job

• The role holder has a key responsibility for the strategic leadership, customer experience, driving cash management revenues /return on equity, and overall delivery of transactional banking solutions to our customers. This is delivered through planning, managing, and effectively marketing new and existing transaction banking capabilities/solutions to target customers in various segments i.e., Corporate Banking, Institutional Banking, Government Agencies and NGOs, Business and SMEs.
• Responsible for segments strategic business growth, profitability, and CASA delivery initiatives through Cash Management solutions covering collections, e-payments and liquidity management products to customers by leading the co-creation of technology led business solutions and products relating to Transactional Banking. This will ensure that the Bank sustains a strong value proposition for customers whilst its customers attain shared value and growth from all available opportunities and connections.
• The role holder will work with segment heads through conducting market research and understanding the competitive environment for transactional banking products (customer needs and behavior, competitor offerings, etc.) and to respond to the consequent opportunities or threats in that product or overall business. This is through blended solutions that are aimed at ringfencing the customers’ ecosystem as well as ensuring the bank remains the primary banker for our clients.
• Enhance business revenue by identifying specific opportunities for offering cash management solutions covering collections, e-payments and liquidity management solutions to customers in partnership with relationship management teams and banking services. Own assigned products, manage them and the delivery of end-to-end allocated product objective including reporting financial and non-financial performance, enhancement of the products capabilities, future product strategies and oversight of risk and governance, implementation of the balance sheet strategy. Also, to grow new to bank revenue and improve product/market penetration over the assigned portfolio of clients. To strengthen relationships with clients by positioning extraordinary value-added products to their businesses based on their cash management solutions needs around collections, e-payments and liquidity management.

Key Responsibilities and Accountabilities:

List of responsibilities and essential duties which must be completed in achieving the objectives of the position

Sales and Business Development

• Increase market penetration and share of wallet for identified clients to complete working capital maps for own portfolio of clients and ensure information is updated regularly and knowledge is applied in targeted sales activities.
• Partner with relationship teams in account planning for identified accounts and ensure account plans contain appropriate information on wallet opportunities and strategy for solutions.
• Identify opportunities for new/incremental business with bank clients and work with the relevant stakeholders to turn these opportunities into revenue for the bank.
• Reviewing cash management revenue lines movement and raising any income leakage noted with finance teams.
• Board presentation on any solution deviation
• Drive of digital channels to clients
• Manage CASA liquidity management through Cash management solutions offered
• Understand the client’s ecosystem in terms of cash management, to create opportunities with their anchors-buyers-suppliers to benefit from the business chain.
• Create and own a cash pipeline from initiation to revenue realization. Own client RFP piece in relation to cash management.
• Monitor channel utilization on portfolio and liaise with implementation teams to drive utilization for the top and bottom clients in portfolio on a quarterly basis.
• Ensure overall attainment of all your cash management sales target in portfolio measured by closed deals. Ensure fees are collected accurately.
• Oversee prospect qualification, customer calls/negotiation, solution presentations and solution-based proposals and implementation
• Consistently promote the bank’s channels and product capabilities
• Frequently review client’s satisfaction with solutions provided within the quarter as an aftersales service check to strengthen relationship and contentment.
• Own follow up with implementation team for all customers who need integration and/or training-based solutions in the best interest of the customer and the bank.
• Oversee team’s prospect qualification, customer calls/negotiation, solution presentations and solution-based proposals and implementation to ensure quality onboards
• Maintain a detailed and an up-to-date knowledge of the bank’s comprehensive integrated channels capabilities and their application to client needs and use this knowledge in structuring solutions.
• Oversee development of a proactive customer requirement approach and creativity to develop innovative communication in order to penetrate and increase market share.
• Drive new product development together with the relevant departments to completion.
• Sponsor launches of product enhancements, new products as required for cash.
• Work jointly with sales and marketing to develop collaterals for the market, communicate product
  launches, organize customer events and develop a sales campaign strategy to ensure that the new products meet planned volume and revenue targets.
• Establish a strategy that drives customer-centric view into Transaction banking with activities including but not limited to focus groups, customer surveys and voice of the customer
• Develop jointly with the sales team a local product and sales strategy to meet objectives in line with the Transaction Banking strategy
• Monitor budgeted revenue forecasts, highlight underperforming products and devise remedial action. Exit products that cannot be refreshed/ non-revenue making.
• Create awareness of deposit hierarchy and NFI movements
• Identify and mitigate operational, regulatory and business conduct risks relating to cash
• Ensure compliance to audit and control
• Responsible for identifying and reporting potential and actual Money Laundering Risk, including suspicious transactions in accordance with the laid down AML/CFT policies & procedures

Product Development & Customer Support

• Oversee prospect qualification, customer calls/negotiation, solution presentations and based proposals and implementation
• Confer with implementation team to confirm solution’s capability to avoid missell
• Maintain refreshed knowledge on bank’s channels and products
• Conduct a structured branch Training and RM training program once a week.
• Consistently promote the bank’s channels and product capabilities
• Frequently review client’s satisfaction with solutions provided within the quarter as an after sales service check to strengthen relationship and contentment.
• Help the clients achieve their finance needs and goals through provision of solutions that
  address clients’ needs and demonstrate value in the relationship.
• Own follow up with implementation team for all customers who need integration and/or
  training based solutions in the best interest of the customer and the bank.
• Adhere to agreed SLA’s with clients and escalate if challenges are faced.

Qualifications:

• Statement regarding minimum educational and experience qualifications, required proficiencies with
  specialized knowledge, required certifications:
• A Bachelor’s degree in business administration, finance or any other business related degree
• Master’s Degree in business is an added advantage.
• At least 8 years’ experience in banking.
• More than 5 years in cash management products covering e-payments, collections and liquidity management.
• Proven knowledge in all Transaction Banking products
• Sound Knowledge of e-payments, collection and liquidity management platforms.
• Knowledge of cash management products covering e-payments, collections and liquidity management.
• Basic knowledge of Transaction Banking products
• Basic knowledge of bank’s ICT platformsBasic knowledge on how to review balance sheets and P&L

Key Skills, Knowledge, Experience and Behavioral Competencies

These are required for optimal role performance.

• Presentation skills
• Interpersonal and Communication skills
• People Management skills
• Project management skills
• Entrepreneurial
• Leadership skills
• Team player and leadership figure
• Demonstrate strong interpersonal, communication and presentation skills.
• Independent worker who is able to work well with minimal supervision.
• Outgoing with a positive and proactive approach
• Demonstrate integrity, dependability, responsibility, accountability, self-awareness, work ethic, and empathy
• Project Management Skills
• Open to learn new things
• Not afraid to speak up when things are not working
• Open to learn new things
• Willing to ask for help and support

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