You will manage the Card Acquiring portfolio to ensure sustainability and competitiveness through developing features and solutions; ownership of the income statement to drive revenue and reduce costs; conducting market research; generating product requirements; sales and marketing initiatives; determining specifications production timetables; pricing; time-integrated plans for product introduction; developing strategies for the product in line with the Bank's strategic objectives; whilst ensuring that the appropriate governance is applied.
Minimum Requirements
REQUIRED MINIMUM EDUCATION AND TRAINING
- Bachelor's Degree in Commerce or equivalent.
- Post Graduate qualification in Commerce would be ideal.
- 7 years' work experience, of which 4 years was in product development and/or management and 2-3 years general banking experience
- Product management skills
- Advanced understanding of acquiring value chain
- Knowledge and understanding of business drivers.
- Practical application of knowledge and skills to drive business growth and meet customer needs.
- Analytical, confident, and competent self-starter with excellent organizational skills
- Deadline- and target driven with a high attention to detail.
- Excellent written and verbal communication skills with a strong ability to influence and negotiate.
- Work well under pressure, resilient and manage stress effectively.
- Advanced knowledge of the regulatory environment in payments, including industry bodies such as PASA, Bankserv and Card Schemes such as MasterCard, Visa, Dinners Club, American Express etc.
- Advanced knowledge of the Card Acquiring business including Physical Point of Sale, Mobile Point of Sale, E-commerce and Integrated Solutions as well as payment form factors such as cards, mobile phones, stickers etc.
- Good business acumen with the ability to anticipate problems and identify possible preventative measures.
- Strong relationship building and teamwork skills
FINANCIAL MANAGEMENT
- Manage the income statement and drive economic profit by ensuring that products are profitable and meets customer needs.
- Determines product pricing by utilizing market research data; reviewing production and sales costs; anticipating volume; costing special and customized orders.
- Understand business requirements and put together plans in terms of growing the business.
- Executing, tracking, and leveraging revenue and cost items.
- Ensure financial objectives for are met by overseeing forecasting requirements; preparing a- consolidated annual budget; analysing overall variances; and direct corrective actions within the team.
- Analyse reasons for variances and which levers to pull to ensure that budget is achieved. Advise the product managers what changes to implement.
- Provide input into the budget process and the sales targets.
- Working with sales staff to develop product sales strategies.
- Working with marketing staff to deliver integrated marketing plans.
- Monitor activities and costs related to utilisation of resources required to meet operational requirements.
- Continuously review performance of the area against scorecards, targets, and processes to address any gaps.
- Measures:
- Increased portfolio size
- Achievement of financial targets
- Increase Market Share
- Review customer requirements and address product-related queries and complaints
- Engage with external parties, e.g. PASA, Visa and MasterCard and vendors, e.g. Emid, DT and APW to maximize their performance and build constructive relationships
- Provide support to front-line sales with product knowledge, customer queries and pricing.
- Resolving customer queries across the product suites
- Develop and maintain relationships with internal stakeholders to ensure success of projects and to deliver the required products and services.
- Assist and support technical teams with queries relating to any ongoing analysis, development, and operations.
- Respond in a timely manner to all requests and enquiries for product information or changes.
- Recommends the nature and scope of present and future product lines by reviewing product specifications and requirements, appraising new product ideas and/or product or packaging changes.
- Ensuring competitive analysis on similar products which other competitors offer.
- Translate product strategy into detailed requirements and prototypes.
- Scope and prioritize activities based on business and customer impact.
- Implementation of a new product/idea in accordance with the analysis.
- Downtime management: proactive management of merchant solutions downtimes, setting up critsit meetings with vendors and key operations staff, ensuring proper communication with internal stakeholders and external stakeholders and customers.
- Develop contingency plans to be deployed in events of failures.
Work closely with Data Team to ensure data and reporting are developed adequately to:
- Provide Customer Insights
- Product Insights
- Optimise products and identify opportunities through data led findings
- Review customer requirements and address product-related queries and complaints, including assisting with special rate requests.
- Engage with external parties, e.g., PASA, Visa and MasterCard and vendors, e.g. Emid, DT and APW to maximize their performance and build constructive relationships
- Provide support to front-line sales with product knowledge, customer queries and pricing / rate changes.
- Resolving customer queries across the product suites
- Develop and maintain relationships with internal stakeholders to ensure success of projects and to deliver the required products and services.
- Assist and support technical teams with queries relating to any ongoing analysis, development, and operations.
- Respond in a timely manner to all requests and enquiries for product information or changes.
- Develop and test new products and/or implement product enhancements based on an approved Business Case provided by the Product Owner (after Project Steerco approval)
- Ensure products are developed for individual and/or business clients as per the following methodology and/or deliverables:
- Product Plan and Strategy includes all the P's, e.g., Product features, benefits; pricing; distribution- and service channels; processes & procedures; SWOT
- Evaluate the company products and compare them against industry trends.
- Assisting with input into established processes, e.g. New Product Approval; Project Management; Business Analyst engagement; Business Requirement specifications; Test plans; Change Management
- Documentation and reference material for customers and staff, e.g. User Guides, Forms and Manuals
LEARNING AND GROWTH
- Take ownership for driving own career development.
- Prepare and obtain sign off on your Personal Development Plan
- Achieve the objectives/milestones set out in the development plan.
- Review performance on a regular basis (monthly, quarterly, and annually)
