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
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.
Macro: 1 Year Micro: 1 month
Key financial/statistical measures of your organizational unit
Number of staff:
Costs that you control:
Income that your Division generates (if any):
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
Minimum Education: Minimum Education: First Degree, higher degrees MBA/professional certifications will be an added advantage
Minimum experience – three years of general banking experience
KEY COMPETENCY REQUIREMENTS
knowledge of competitor products and their application
Banking structure, policies and procedures.
Core Business Processes
Data Gathering and Analysis
Extensive knowledge of First Bank’s services/products
Knowledge of Bank’s Loan originating & management application system
Credit Assessment and Structuring
Customer Relationship Management
Data Gathering and Analysis