Head, Personal Markets
Standard Bank Group - Location: Lusaka, Lusaka Province, Zambia, Lusaka
To own the strategy, income statement and balance sheet for the Personal Market Segments, Including Blue (Classic); Silver (Achiever), Gold (Executive) and Private Banking. To support the Head of Personal and Business Banking, in optimising the delivery of product offering to these Segments. To lead thinking, initiatives and drive projects regarding attraction, retention and expansion strategies for these customer groups, including the incorporation and delivery thereof through workplace banking and Private Banking.
- Reviews the appropriateness of current segmentation through evaluation of the current parameters, the associated customer propositions per segment and whether these currently lead to an improvement in the future value of customers.
- Partners with Rest of Africa centre to create the customer value proposition (CVP) for the segments. This includes a clearly defined approach to product offering, pricing, servicing, channel and contact strategies in order to optimise the cost-to-serve across the segment by ensuring that customers utilise the most cost-effective channel when transacting, ensuring it meets the customer’s needs
- Develops strategies to acquire target customers within the appropriate cost of acquisition parameters.
- Owns the income statement and balance sheet for the personal market segments.
- Drives profitability within the personal markets segments.
- Negotiates consolidated financial/ sales budgets for the personal markets segments.
- Determines market share and sales targets for segment and facilitates regional roll-out.
- Evaluates and implements ways to optimise revenue streams and focus market efforts to maximise profitability.
- Optimises customer revenue generation by growing product penetration in the segment.
- Identifies and reviews non-profitable customers and puts measures in place to improve profitability either by improving product penetration or by reducing cost to serve through influenced behaviour changes or by changing the service and sales strategies within the generally accepted Standard Bank design principles.
- Partners with Product and Channel in order to make that new or improved channels and products are in place and operating as required to meet the customer need.
- Consult with relevant stakeholders to use as input into developing appropriate product and pricing offerings driven by customer needs across the specific personal markets segments.
- Communicate and share appropriate information and reports about the segment and segment propositions.
- Provide the business insights into customer profitability, segment performance and any other appropriate key business drivers based on accurate insights and management information in place.
- Ensures the effective selection of staff by matching the skills and competencies to the requirements of the job.
- Builds organisational capabilities through evaluating likely future requirements and ensuring that individuals are provided with the best possible development opportunities in line with these.
- Creates an environment in which learning and development are emphasised and valued.
- Takes personal responsibility for coaching and mentoring others.
- Effectively delegates authority and responsibility, in line with business objectives, to ensure the empowerment, motivation and effectiveness of all direct and indirect reports.
- Monitors and manages the performance and development of staff within the area. This includes regular one-on-one feedback sessions, conducting mid-year and final performance appraisals, as well as the moderation and relative distribution of all appraisals for the team.
- Ensures staff are appropriately and consistently rewarded and recognised for their achievements and outputs.
- Ensures that disciplinary action and grievances are addressed and aligned to the Standard Bank policies and procedures.
- Manages risks including the requirements of new legislation affecting Personal Markets and ensure compliance with legislative bodies.
- Supports the implementation of, as well as the compliance to, legislative requirements.
- Co-ordinates the Personal Market strategy and activities to achieve and maintain KYC (know your customer) targets and benchmarks
Preferred Qualification and Experience
Unuversity Degree in Business Studies; ACCA; MBA, added advantage.
5-7 year experience in PBB:
- Knowledge of general banking practices and procedures and of the distribution network in PBB.
- Thorough knowledge and understanding of the features, benefits and value proposition in Personal Markets, Private Banking and PBB’s product and service offerings.
- Conceptual knowledge and understanding of the principles and practices of business economics and the current economic environment.
- Understanding of business and financial management principles and practices to ensure cost containment, cost efficiency and effectiveness and profitability.
- Knowledge of data analytics, market research and competitor analysis.
- Knowledge of research principles.
- 5 years experience in People Management
Minimum of 5 years’ experience in people management, leading teams and motivating people. 6 years’ experience in the development and implementation of customer value propositions to meet customer needs.
Customer and Client centric Innovation, Knowledge Management; Information Management; Economic Research; Interpreting Data