Let's Connect!

PRODUCT MANAGER, COMMUNITY BANKING 719 views

More Information

First Bank Nigeria Plc is looking to hire qualified candidates as product manager, community banking in Lagos.

JOB OBJECTIVE(S)

  • Deepen the Bank’s share of wallet on the Asset and Liability products business of the Community Banking Market segment through development and launch of bespoke products.
  • Facilitate the diversification of asset revenue and liability generation through the rollout of new and best priced Asset Products to the segment through all touch points.
  • Develop and implement marketing strategies for effective Asset and liability Product sales to the segment through the bank’s distribution channels.

DUTIES & RESPONSIBILITIES

  • Responsible for driving Community Banking Asset and liability products performance to ensure that products targets for the segment are met
  • Research competition product offerings and make appropriate recommendations for improvements to ensure that the bank’s Asset and liability product offerings maintain their competitive advantage.
  • Identify market opportunities in the segment and launch additional Asset and liability Products.
  • Generate ideas for the development of new Asset and liability Products or improvement of existing products
  • Contribute to strategies for the creation of Asset to grow the bank’s total Asset Portfolio
  • Contribute to strategies to increase Asset Products uptake in the Bank for the segment
  • Ensure that assigned Asset and liability Products (new & existing) meets and conforms with regulatory requirements
  • Work closely with M&CC, SBU and other stakeholders to ensure managed FirstBank’s Asset products are highly visible in the market.
  • Develop & implement strategies for the effective monitoring/tracking of managed Asset Products
  • Develop & implement strategies that will ensure that all LADs are of good quality
  • Intelligence/Information gathering on product(s) being managed§  Relationship Management
  • Initiate promotional activities/schemes to reward loyal customers and at the same time increase the market share in terms of deposits.
  • Attend and make presentations at various SBUs monthly/quarterly performance review sessions
  • Attend joint marketing calls with relevant BUs to provide adequate product and marketing support.
  • Develop promotional materials for assigned products and events to support the marketing of products by the customer facing SBUs
  • Develop and send out regular product tips on assigned products to improve product knowledge and aid overall product performance
  • Work with RMs/BMs to ensure effective and coordinated sales of assigned asset and liability products bank-wide.
  • Go on joint marketing calls with RM/BM/BDMs
  • Ensure that assigned asset products have NPLs within tolerance level (currently 5% of the total products portfolio)
  • Ensure the profitability of assigned asset products
  • Establish new relationships and pass it on to appropriate SBUs
  • Carry out periodic (monthly, quarterly & annual) product reviews to track assigned products performance across the SBUs in the bank and across the industry
  • Work with CAP, CRM, CAM, Operations, IT and other SRFs to ensure effective deployment of resources to support market facing SBUs for effective products sales
  • Attend User’s Acceptance Test (UAT) sessions and ensure that test results conform with approved products terms and conditions
  • Ensure that assigned new products are launched within approved time frame
  • Manage assigned products life cycle, from inception to launch, to evaluation/refinement and make necessary recommendations
  • Act as a clearing house between the market facing SBU & the various SRFs for effective product knowledge/sales.
  • Carry out other responsibilities as assigned by the Head, Community Banking
  • As part of the Bank’s Information Security requirements, maintain the security of all Information entrusted to the staff and comply with the principles and policies in the Information Security Handbook

CHALLENGES

  • The requirements for support from staff, procedures and systems to ensure take up by clients
  • Highly risky but profitable market segment.
  • Product knowledge gap amongst customer facing operation staff (Tellers, CSOs) and Relationship Managers.
  • Obtaining adequate/specific information on competition’s product performance, terms & conditions, pricing etc.

PLANNING

  • Macro: 1 Year Micro: 1 month

EXPENDITURE BUDGET

  • Key financial/statistical measures of your organizational unit
  • Number of staff:
  • Staff costs:
  • Costs that you control:
  • Income that your Division generates (if any):
  • Net Revenue:

KEY PERFORMANCE INDICATORS

  • Number of successful products developed vs. target
  • Total Net Revenue from assigned Asset Product
  • Budget Variance of assigned Asset Products
  • Total Net Revenue from Liability Products
  • Budget Variance of Liability Products
  • Liability Products Balances
  • Profit before tax
  • Banking Products Asset Balances
  • Level of success from product implementation
  • External Customer Satisfaction Survey
  • Internal Customer Satisfaction Survey
  • Product Awareness Rating
  • Product Launch to Market Niche
  • Product defect rate
  • Human capital return on investment
  • Audit Defect Rate

JOB REQUIREMENTS

Education

Minimum Education:    Minimum Education:   First Degree,  higher degrees MBA/professional certifications will be an added advantage

Experience

  • Minimum experience – three years of general banking experience

KEY COMPETENCY REQUIREMENTS

Knowledge

  •  knowledge of competitor products and their application
  • Banking structure, policies and procedures.
  • Core Business Processes
  •  Data Gathering and Analysis
  •  Regulatory Compliance
  •  Banking Operations
  •  Extensive knowledge of First Bank’s services/products
  •  Relationship management
  •  Knowledge of Bank’s Loan originating & management application system

Skill/Competencies

  •  Credit Assessment and Structuring
  •  Marketing/ Sales
  •  Business/Product Development
  •  Customer Relationship Management
  •  Financial Analysis
  •  Data Gathering and Analysis

 

Join Free Whatsapp Alert

Join Free Facebook Alert

Get Updated Jobs Alert Via Email

Only candidates can apply for this job.
Share this job