Job Purpose

• Providing leadership and strategic direction to the product teams covering Liabilities, Lending and Transactional Banking to ensure the teams are developed and supported to deliver results
• Drive a sustainable business model through a robust RBB strategy aligned to the organization’s objectives
• Full ownership of the RBB P&L and ensuring the business unit delivers to the agreed objectives
• To manage the local product range for Retail and Business Banking customers, ensuring the business remains competitive while achieving its stated income targets.
• To review, recommend and implement new product developments and enhancements to the existing product set.
• Deliver strategic partnerships through Fintechs, card schemes and other 3rd parties to drive innovation and deliver our ambition of being a digitally led bank
• Ensure compliance to Bank controls, policy, service standards and procedures as laid down by the bank through a robust controls framework.

Key Accountabilities

Product & Proposition Oversight 30%

• Ensure income targets are met for RBB products through leading and evolving the product pricing strategy.
• Stay abreast of industry trends, role players and opportunities and challenges to ensure that the RBB business is well positioned to provide competitive and industry leading product and services
• Build and maintain effective relationships and networks within the industry forums and use the opportunity to demonstrate thought leadership and share best practices
• Identifying opportunities for new product development and enhancements
• Lead for RBB in the ALCO (Asset and Liability Committee) meetings, advising on the most appropriate interest rate strategy for RBB products, covering balance sheet and income impacts.
• Contribute ideas for alternative RBB product strategies to manage the Asset and Liability Book.
• Continuously review the local basis for customer segmentation and recommend suitable product activity to target and sustain viable and profitable segments in line with the stated RBB strategy in country.
• Monitor and provide feedback to RBB Management on local competitor product activity and pricing.
• Review customer satisfaction surveys to identify product issues. Create action plans and implement changes to address such issues.
• Provide direction and input to the Marketing & Corporate Relations (MCR) team during the development of product-specific campaigns.
• Proactively contribute to the digitization agenda and relevant transformation initiatives

Drive Business Performance 20%

• Lead the development of comprehensive strategies to grow the RBB business in liabilities, lending and transactional banking, aligned with the organization’s overall objectives.
• Identify opportunities to leverage existing channels and explore new business models, including mobile and emerging digital ecosystems.
• Collaborate with cross-functional teams to drive innovation and develop differentiated offerings.
• Monitor market trends, regulatory changes, and competitive landscape to inform strategic decision making.
• Provide clear direction to the team on the RBB objectives, translating and prioritizing into business performance measures at team and individual level.
• Agree targets and take accountability for the overall achievement of performance objectives for the team in terms of:
• Brand, product and business proposition
• Customer experience
• Cost performance
• Product risk and rigour management
• Budget accountability
• For areas managed by this role, implement performance controls to proactively measure achievement against strategic targets and address changes or non-performance.

Team Leadership 20%

• Resource, build and develop a motivated and high performing team
• Create and foster a positive, empowering team and work environment with open communication, individual ownership, personal initiative, timely resolution of conflicts and compliance of company standards
• Provide thought leadership to the team and drive a culture of transformation and innovation by encouraging knowledge sharing, best practices in product development and new ways of doing things.
• Embed a high-performance culture with direct reports and their teams by providing regular feedback, coaching to ensure their maximum potential is achieved
• Proactively drive talent development and succession planning processes within the team.
• Act as an escalation point for all issues emanating from the team
• Provide people management support to colleagues within the team across the entire employee life cycle including on-boarding, performance management, discipline, talent management, career development, reward, recognition etc
• Drive proactive application of Absa values both personally and throughout the team.

Stakeholder Management 20%

• Build and maintain relationships with key internal stakeholders, including senior leadership, product teams, sales, and technology departments.
• Interact with the frontline stakeholders including Customer Network Director, Affluent Banking Director, Head of Sales, and Regional Managers in the Branch network to provide input into sales strategies.
• Build relationships with internal service providers and stakeholders including Marketing & Corporate Relations (MCR) and Operations & Technology etc and ensure that service level agreements are implemented and maintained where appropriate.
• Cultivate strategic partnerships with external stakeholders, including payment networks, financial institutions, technology partners, and regulators.
• Represent the organization in industry forums, conferences, and events to promote our transactional capabilities and explore collaboration opportunities.

Governance Control 10%

• Establish robust governance frameworks to ensure compliance with regulatory requirements and internal policies.
• Implement effective controls and risk management practices to safeguard the integrity and security of payment systems and data.
• Conduct regular risk assessments and implement mitigation strategies to address identified risks.
• Ensure that team members abide by required governance standards for implementation of new products or launch of new distribution channels
• Collaborate with internal audit, compliance, and risk management teams to address issues and drive continuous improvement in governance and control processes.
• Review local product legal and regulatory assessments completed by the Product Managers
• Liaise with the COO areas on any major processing issues directly linked with the product design or the channels through which the products are distributed.
• Ensure that team members comply with all Absa policies and procedures
• Own and manage the business continuity management plan for the RBB Product team. Ensure that biannual tests take place and that any failures are reported.

Preferred Education

• Bachelor’s degree in business, finance, banking or a related field; MBA or relevant advanced degree preferred.
• Proven track record of leadership in the banking industry, with experience developing and executing growth strategies.
• Deep understanding of payment technologies, mobile payments, and emerging payment ecosystems.
• Strong stakeholder management skills, with the ability to build and maintain relationships at all levels of the organization.
• Excellent leadership and people management skills, with experience of leading and developing high-performing teams.
• Demonstrated ability to navigate complex regulatory environments and manage risk effectively.
• Strategic thinker with the ability to translate market insights into actionable strategies.
• Excellent communication and presentation skills, with the ability to articulate complex concepts to diverse audiences.

Preferred Experience

• At least 10 years’ commercial experience in fee generating product development
• Team and people management experience
• P & L Management
• Commercial experience in transactional banking
• Innovation leadership in new technologies
• Building scalable Partnerships that support transactional business growth
• Ability to build and leverage ecosystems that support transactional business growth