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Islamic Banking Product Manager

Job Summary

• Reporting to the Head of Islamic Banking, the Product Manager has the responsibility of providing focus on business direction through planning and driving financial performance, business management, design and delivery of the product line strategy in line with customer segmentation strategy and annual plans to support the achievement of the objectives of Absa Kenya Islamic Products.
• The role requires the role holder to have regular contact with, Country Finance teams, Retail branch network teams and the product teams to proactively set and agree performance drivers and to provide technical product management expertise. Tracking, monitoring, analyzing and reviewing progress against targets and making recommendations to the Head of Islamic Banking and the wider team members.
• The role holder will be responsible for meeting the profit income targets for the product line across all businesses. Implement new products and product enhancements. Provide information on competitor information, local pricing and local market potential.

Job Description
Key Deliverables/Accountabilities
Driving Business Direction: Time Split 20%

• Assists the Head of Islamic Banking in developing the Islamic Banking strategy through provision of insightful strategic analysis on competitor activities, pricing trends and sensitivity, economic analysis and such other relevant macro trend analysis.
• Coordinates and compiles the Islamic Banking financial plans/budgets (both STP and MTP) including analytical support of the budget drivers and processes of the plans for the specific Branches/outlets in liaison with the budget owners.
• Coordinates the Islamic Banking budgets and financial performance including Income, Cost and Balance Sheet streams highlighting material variances and reporting regularly to the Head of Islamic Banking with recommendations for timely strategic actions.
• Understand customer segmentation & customer needs and develop product offerings to deliver the customer value propositions.
• Liaise with the Marketing department, Regional Managers & Heads of Functions to inform them of the product line strategy, positioning and implementation plans.
• Identify the key lines of cost and income, and the levers we have to control costs and income. Set the strategy according to these levers to achieve the specified Product Line performance targets.
• Undertake legal and regulatory assessment as required
• Feedback suggestions for new products and product enhancements

Business Management & MI Development: Time Split 40 %

• Owns and coordinates the development and management of robust, relevant, timely and effective management information (MI), at times ad hoc; that drives Islamic Banking business direction and performance enhancement.
• Supports the product managers on designing and managing business processes that minimizes income leakages and assist in reviewing business processes to achieve efficiency and cost effectiveness.
• Manages and coordinates the income collection and cost reduction within Islamic Banking
• Manages and coordinates Islamic Banking external financial audits providing requested information and responding to all audit queries raised by external Auditors. Follows up audit findings ensuring that corrective actions are timely implemented.
• Provide clear information to Head of Business Development for action plans and activity to manage the specified product line performance and to improve product line profitability in line with customer segment objectives.
• Provide clear information about the collection and compilation of competitor and market data on the product line.
• Ensure that country pricing decisions, product feature changes and new product development that have financial implications on the product line income and margin performance follow the correct governance process.
• Monitor performance of Product Line against key measures. Report results with recommendations about performance.
• Produce regular reporting and stakeholder feedback for all products in line including what the product is, account and customer behavior, key performance indicators (e.g. interest income and margin), key drivers (e.g. pricing) , and changes required to the existing plans to respond to market conditions.
• Liaise with all stakeholders about product line positioning, functionality, performance targets and activity planned.
• Work to develop the management information and reporting for both EM and local use to support the analysis required for improved product line performance.

Performance Management: Time Split 40%

• Coordinates the compilation of monthly detailed performance dashboard league providing explanations to team members on the basis of compilation for transparency and objectivity in performance measurement, necessary for team buy-in and motivation.
• Constructively challenges monthly results and forecasts for Islamic Banking business and Finance Reporting. Assisting in identifying value adding initiatives to improve on performance.
• Works closely with the Head of Islamic Banking, Regional Managers, Area Managers and product teams to drive and deliver performance across the Bank.
• Guiding and influencing the wider team members involved in MI processes and compilation on effective and efficient methodologies of data collation and processing and analysis.
• Generate and manage new product or product amendment ideas at the concept development stage
• Log product ideas for the product line utilizing relevant research (e.g. input from customer insight and Community Finance Officers). Review ideas and make recommendations to progress which are prioritized using value-based criteria.
• Design of new products or product features considering both customer requirements and the constraints for new developments by:
• Engaging all stakeholders
• Creating a steering committee
• Building a business case
• Complete all product testing.
• Build detailed local implementation plan.
• Closely monitor local implementation
• Write the aggregate business case for new products, risk and infrastructure plan, detailed operational risk assessment, and complete the financial model for product.
• Facilitate planning workshops to produce detailed plans for each product development work stream and manage infrastructure build, test, pilot launch and full launch
• Handover new product to the business development function following process and undertake post project review.

Technical Skills / Competencies

• Analytical thinking and judgment.
• Change, financial and business management.
• Information gathering.
• Computer literacy specifically high competency in Excel spreadsheets.
• Good understanding of BRAINS /Flexicube
• Managing relationships.
• Business aware & proactive.

Knowledge, Expertise And Experience
The jobholder will require a wide range of knowledge to effectively perform the role including:

• Strong business planning and financial management skills.
• Strong analytical and diagnostic skills.
• Good presentation and communication skills.
• Ability to work to tight deadlines without compromising accuracy.
• Good understanding of Islamic products dynamics and pricing structures.
• Appreciation of Islamic business risk profile.
• Good understanding of Absa Kenya Financial reporting structure and financial processes.
• Strong team player with good interpersonal skills.
• Good understanding of performance dynamics management processes and techniques.
• Good PC /system skills.
• Understanding of the domestic economic and industry trends

Essential

• Experience in and/or understanding of Financial Services environment (e.g. Absa Kenya Financial Reporting framework and/or experience of managing P&L and Balance Sheet performance.
• Experience in and/or understanding of Consumer Banking environment with good understanding of Islamic products, deal structuring, pricing structures and relationship management.
• Graduate caliber with business university degree (preferably finance or accounting) with other relevant professional qualifications.
• Product management experience

Preferred

• A business degree (B.Com)
• Strategy and planning awareness and techniques
• Influencing and Negotiating Training
• Performance Management training
• Presentation/communication skills.

Education

• Higher Diplomas: Business, Commerce and Management Studies (Required).

SME/Universal Banker(Various Locations)

Job Summary

• To provide excellent customer experience, deliver exceptional branch business growth and profitability. To observe compliance & control requirements, keeping high level of bank standards.

Job Description

Key Accountabilities/Deliverables

Business Growth: Time split 60%

• Understand and implement business strategic initiatives for the branch aimed at increasing new business and wallet share from existing customers.
• Have a clear understanding of all Retail and Business Banking products that could satisfy customer needs.
• Manage portfolio risks in line with banks’ portfolio appetite.
• Collaborate in the development and implementation of sales initiatives with other business functions i.e., Direct sales team, Asset Finance, CIB, Bancassurance to maximize cross-selling and better customer profiling opportunities.
• In conjunction with the branch manager, Industry heads, and products, conduct product reviews and development through constant feedback from the market.
• Continuously conduct market intelligence to identify new markets, customer trends, new government /directives, and changes in policy by regulators.
• Contribute to the development of branch sales strategy.
• Plan and coordinate any marketing approaches for new business and actively develop existing relationships.
• Actively seek to grow own portfolio and cross-sell to ensure delivery of set Targets.
• Appraise and promptly address customer issues /complaints escalating as necessary to ensure timely resolution as per the set standards.
• Ensure quality sales and new to-bank accounts within your portfolio are promptly funded at customer onboarding.
• Continuously monitor own performance against targets agreed on, daily for new and existing clients. Initiate appropriate action plans to address any shortfalls in performance.
• Operationalize campaigns as required with the Branch Manager and the business.
• Always ensure excellent customer experience
• Drive business targets through strict TAT observance and high-level service delivery standards.
• Should not advise an existing customer to open a similar account in their respective Branches with a view of moving funds between the accounts.
• Should not close an existing account in your Branch/domiciled in another Branch with a view to re-opening a similar account.
• Accounts re-streaming should be carried out in line with the Banks policy.
• Together with BM, create ownership of the branch performance targets. Agree on branch execution plans/strategies and ensure they are aligned to the Bank’s overall strategy- Growth, Transformation, and Returns.

Internal Controls & Risk Management: Time split 10%

• Ensure that Absa bank¡¦s policies and procedures are always adhered to when handling different products.
• Ensure adherence to all KYC & AML Processes regarding new and existing business and that proper documentation is in place.
• Ensure compliance with Operations Risk requirements to avoid losses arising from operational lapses.
• Manage costs within your area of operation.
• Effectively carry out branch snap checks as assigned by the assistant branch manager.
• Ensure the new business is properly booked and all income due to the Bank in terms of charges, commissions, and fees are collected as per the current tariff.
• Accurate customer information is captured in the core banking system.

Customer Experience: Time split 20%

• Ensure excellent customer experience is always maintained.
• Ensure set TAT in account onboarding and loan processing is always achieved.
• Appraise and promptly act on customer issues /complaints escalating as necessary to ensure timely resolution.
• Ensure set TAT in response to customer queries by phone, email, or letters is strictly adhered to.
• Ensure customer data is always up to date
• Ensure branch NPS scores are maintained as per the set standards
• In conjunction with the Branch Manager, co-ordinate branch initiatives aimed at gathering feedback from customers on service standards and advise leadership for improvements
• Monitor service to ensure customers are served within acceptable waiting time having a work plan for both peak and off-peak periods.

Capacity Building & People Management: Time split 10%

• In conjunction with the Branch Manager, Assistant Branch Manager and other branch colleagues create a conducive work environment, teamwork, and effective succession opportunities to ensure maximum productivity.
• Ensure the assigned e-learning and internal training activities for self and direct reports are undertaken within set timelines.
• Determine and manage Training Needs Analysis and own succession planning.
• Manage your own leave by working closely with your Line Manager

Role/person specificatios

Preferred Qualification

• Business related degree

Preferred Experience

• Familiarity with various banking products and services, such as checking accounts, savings accounts, loans, and credit cards.
• A solid track record of achieving sales targets, & the ability to drive sales and deliver excellent sales target set by the bank.

Knowledge and Skills

• High attention to detail & high sense of urgency.
• The need to be flexible and adaptable in order to meet the challenging demands of the job.
• Ability to work under pressure to very tight timescales whilst producing output of the highest quality.
• Ability to deal with and relate well with staff of all levels.
• High focus on internal customer service excellence.

Behavioral Competencies

Results and achievements oriented

• Strives to achieve results, enjoys measuring others, being measured, and being judged on performance standards and those of others he/she leads to optimize employee productivity.
• Ability to effectively plan and monitor the branch performance using defined system and processes

Leadership and Management Skills

• Ability to identify, nurture and grow talent for self and others. Capability to mentor and manage changes.
• Self empowerment to enable development of open communication.
• Teamwork and trust that are needed to support performance and customer service oriented

Communication & Interpersonal Skills

• Well-developed oral and report-writing skills, ability to work with, coach and mentor staff

Negotiation & Selling Skills

• Must be a good negotiator, particularly in changing behavior and work practices but always win/win.
• Negotiate with customers on product offering to grow customer numbers/value and product uptake

Personal Ethics

• Must be honest, fair, just but firm with self, and of high integrity

Relationship Management

• Managing colleague and client relationships so as to ensure excellent customer experience leading to value add to the customer and increase in the Banks share of wallet

Conscious of banks reputation

• Protect and enhance the banks reputation

Technical Competencies

Technology Skills

• Knowledge of banking applications and spreadsheets

Conceptual and analytical skills

• Ability to quickly grasp and understand systems and keen to details

Risk management

• Ability to anticipate and mitigate risk by implementing appropriate risk management policies for the bank

Compliance and Regulatory Framework

• Top nick understanding of the regulatory issues, reporting and operational requirement as provided by CBK, KBA, KRA etc.

Basic Credit Skills

• Good knowledge of personal and business credit underwriting and portfolio management

Audit standards & Legislation

• Good knowledge of International Accounting and Audit Standards, and Legislation 

Knowledge of Banking and Business Operations

• Knowledge of all the Banks operations and processed and excellent knowledge of bank policies and procedures to consistently achieve the required compliance standard.

Education

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

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