Job Purpose
- Responsible for asset product development for Retail Banking and its end to end life cycle monitoring.
- Asset Product management and profitability monitoring to identify areas that require fix, improvements and or amendment.
- Responsible for products’ features enhancements and revamps where need be to ensure that all products feature are relevant to customer’s need and market competition in the industry.
- Weekly, monthly, quarterly and annually monitoring and evaluation of Asset Products for Retail Banking profitability and suggest way forward for underperformance if any, ensuring continued profitability and Balance Sheet Growth.
- Responsible for developing, reviewing Asset product pricing to ensure product profitability
- Tracking and review of asset product portfolio quality.
- Working closely with Credit and Sales to ensure quality of Asset product portfolio remains within the Banks acceptable thresholds.
Main Responsibilities
- Developing, implementing and managing a compelling Retail banking portfolio of Asset products.
- Manage the Retail Banking Asset product lifecycle from Idea generation to conceptualization, design and development, implementation including UAT, Pilot and launch.
- Proper management of introducing a new product by developing and executing respective Communication on specific products to all branches. Ensure all branches are knowledgeable of any new product and that we have a clear public launch plan.
- Ensure new products are in line with controls, customer centric concept and are fairly priced.
- Ensure all new products are approved and are in line with regulations (BOT, FIU, TCRA and all other relevant regulators)
- Monitor, asses and report new products framework and ensure the same is in line with banks projections, targets and budget.
- Analyze, manage and identify all system faults that affects product performance then, suggest areas of improvement, get approvals for improvement and ensure approved changes/enhancements are implemented within agreed time.
- Managing relationship with national and international business partners (NGOs, financial institutions, government etc.) who are interested to work with NMB to introduce new products, services or product extension to the market.
- Responsible for compliance and regulatory issues for Retail Banking Asset products and services before, during and after development and implementation.
- Play a key role in innovating Retail Banking asset products.
- Manage internal relationship with all stakeholders (Technology, Risk, Marketing, Operation, compliance etc.) for team work to ensure any introduced new or existing product is accordance to bank risk appetite, customer needs and can drive sales.
- Regular (Quarterly/Semi-Annually/Annually) Competitor Review vis-à-vis Retail Asset Product Offering.
- Product(s) life cycle management and Pricing and revenue monitoring
- Income targets strategies and product profitability analysis
- Regular review of individual performance targets and give constructive feedback for development.
- Being pro-active to identify products issues and resolve them timely in a proactive manner.
- Improve product portfolio within authority level according to set standards.
- Manage relationship with business partners and all other stakeholders.
- Responsible for any other assigned action by your line manager.
Skills and Knowledge
- Strong credit skills and Sound understanding of bank’s loan products, policies and procedures
- A comprehensive knowledge of Tanzanian Banking products and systems that support them.
- Conversant of product offerings in the wider financial services industry.
- A wide knowledge of NMB strategy and policies
- Detailed knowledge of Retail buying behavior, marketing techniques and evolving trends
- An understanding of customer segmentation theory and practice.
- A detailed understanding of banking industry, advisory, regulatory and professional bodies.
- A good understanding of legislation related to financial services and channel delivery
- A good knowledge of constructing reports, executive summaries and briefs
- Greater understanding of product life cycle
- Communication skills both written and oral
- Business planning and Project management
- Strong analytical and numerical skills for calculation of statistics, figures and targets
- Standard Computer skills and Good interpersonal and networking skills
- Negotiation and Report writing skills
- Ability to explain and handle complex information clearly and simply
- Presentation, Coaching and Training skills
Qualifications and Experience
- A Bachelor’s degree in Business/Accountancy/Economics/Finance or any other related field.
- A Master’s Degree will be an added advantage
- Any course or training in product development is an added advantage
- Able to deal professionally, confidently and effectively with staff at all levels, internally and externally
- Ability to keep abreast of industry changes in both the business and marketing environments.
- A minimum of 5 years of working experience in Product Development within the Banking Industry.
- Familiar with a variety of the field’s concepts, practices, and procedures.
- Conversant in Customer segmentation, Pricing and Product Development procedures/processes.
- NMB Bank Plc is committed to creating a diverse environment and is proud to be an equal opportunity employer.
Please be advised that if you are not contacted within 14 working days of the advert closing date then you have not been shortlisted.
“NMB Bank Plc does not charge any fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it”.
Deadline:2020-01-06
CLICK HERE TO APPLY
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