Pricing Manager

Job Details
Standard Bank is the largest bank in Africa and our highly visible brand, award-winning service, and strong global presence helps us maintain our market-leading position. We place huge value on the talent of our people to drive our continued success, and to support our plans for growth. We now need a talented and resourceful individual to help us fulfil our business objectives and build customer loyalty.

Job Purpose
– To ensure revenue management by closing revenue leakage gaps, driving annual fee pricing and operationalising the VAF pricing strategy.
– To oversee and manage the VAF rate arbitrations and reversals team, ensuring customer service levels are continuously maintained and improved.
– To ensure the highest level of customer experience when resolving customer queries.
Key Responsibilities/Accountabilities
– VAF Pricing:
Ensures competitive pricing of the VAF for the relevant market, including price elasticity of pricing changes, price elasticity of third party incentives.
Ensures pricing arbitrations are minimized as an indication of the pricing strategy effectiveness where pricing is deemed ineffective adjust the pricing process to ensure effectiveness.
Ensures that arbitrated pricing decisions are managed with consideration to the overall customer’s strategic importance to the bank, through liaising and negotiation with CFS counterparts.
Ensures adequate training sessions are held with Channel staff to explain the processes involved in pricing and the importance thereof.
Analyse take-up rates though various business segmentation views are appropriate and pricing related obstacles to take-up are resolved promptly.
Ensure tracking of pricing mandate usage and where mandates have been exceeded ensure feedback is fed through to relevant channel heads to ensure disciplinary action where appropriate.
Analyse competitor pricing to ensure margins are optimal.
Ensure budget margin and volume targets are met.
Manage within relevant mandate all pricing arbitrations and escalate where the Manager of Pricing and Revenue Management’s mandate is exceeded.
– Revenue leakage management:
Investigates and detects potential revenue leakage gaps and implements appropriate solutions, in consultation with the Senior Manager: Portfolio Management in order to close/minimise these gaps.
Assesses the magnitude and ensures the delivery of non-interest fee charges and annual changes.
Ensures all pricing and fee tools / systems available within operational environments (e.g., S2K/S4/Dealer interfaces and fixed rate calculators, etc.) are fit for purpose.
Monitors and reports to VAF on all losses absorbed by the VAF and product cost centres.
Updates operational losses on the systems and SAP/AVALON reporting.
Investigates reversals to understand their root cause and engages with appropriate stakeholders to prevent further instances and implements appropriate solutions.
Ensures management information (MI) is available across revenue management areas in order to track revenue leakages.
Uses MI to remove and mitigate incorrect processing of actions by other areas (e.g., VAF Sales Consultant in the Specialised Sales environment in Customer Channels).
Ensures all escalated queries are resolved, or escalated to the Senior Manager: Portfolio Management where the mandate is exceeded.
Ensures all product and ombudsman related queries are appropriately resolved.
Analyses and works closely with incoming channel touch points, such as the call centre, internal ombudsman, etc. to ensure that potential revenue leakages are mitigated.
– Customer service excellence:
Ensures that the customer’s expectations are managed and that frequent feedback is given to the customer on progress relating to all queries.
Continuously sources relevant information regarding key trends and/or changes in the property industry that pose a risk to VAF customers.
Considers evolving customer needs, market competition and product offerings to ensure processes and procedures within the team are relevant to service the value chain and customer with the best resolution within the shortest time frame.
Resolves queries relating to staff retrenchments and their rates on a daily basis.
Resolves escalated queries involving the Ombudsman (internal and external) as well as executive queries received from the office of the Chief Executive relating to VAF.
Resolves interest accrued and debt review customers’ interest queries on a daily basis.
Performs customer mediations in the absence of the Senior Manager: Portfolio Management.
Remains up-to-date on products and services to ensure customer satisfaction and to maximise sales opportunities.
– Risk and compliance management:
Adheres to the bank’s regulatory and procedural requirements (e.g., National Credit Act; Treating Customer Fairly (TCF); Anti-Money Laundering; Knowing your Customers (KYC); and the Consumer Protection Act).
Ensures adherence to all internal risk-related policies and guidelines.
Ensures that customer engagements with the bank comply with legislation and regulations.
Ensures that the correct reversal processes are followed and addresses non-adherence.
Uses MI to track performance of the team with regards to mandated levels and ensures that mandates are not breached.
Ensures correct mandates are used by the team and addresses any incorrect transactions to prevent unauthorised / illegal reversals and revenue losses.
Ensures that no fraudulent transactions are performed by the OSS/Branch network regarding unauthorised/illegal reversals and revenue losses (e.g., the branch network actions a reversal or refunds a customer but they are not mandated to do so.).
Ensures that the MI used to identify the irregular and unauthorised transactions is accurate.
Conducts regular audits on respective revenue lines to ensure that revenue leakage gaps do not exist and puts measures in place to close such gaps.
– Operational efficiencies:
Together with Process Excellence (Customer Centre of Excellence), designs and implements operational processes to meet VAF business needs.
Minimises revenue reversals in a cost-effective manner with the objective of optimising portfolio returns and balancing customer experience.
Ensures reversal requests are managed fairly and objectively.
Compiles daily stats on reversals to ensure that turnaround times are adhered to and that the correct decisions are taken.
Compiles daily updates on pricing and revenue matters that have been arbitraged to ensure turnaround times are adhered to and that the correct decisions are taken.
Conducts random validation/audit on the team to ensure quality of work and service level agreements (SLAs) are adhered to.
Ensures that operational losses are captured correctly within the relevant systems.
Manages and allocates operational or credit losses to the relevant departments due to reversals.
Engages with respective third-parties (such as Operations Shared Services (OSS); cheque account product custodian/managers; insurance, etc.) to recover losses where VAF refunded these losses.
Manages fixed rate systems and processes, and ensures that funding is available timely for customers and channels.
Ensures business continuity needs are defined and deployed in the event of failure (e.g., system failures).
Finds methods to improve arbitrations to meet both the bank’s and the customer’s expectations.
Responsible for negotiating SLAs, structure and processes to be followed for the VAF arbitrations team (e.g., private banking queries are managed within the respective SLA agreement and actioned by the correctly mandated and experienced individuals).
Together with the VAF pricing analytics team, delivers a robust and well informed pricing strategy.
Provides IT with input on system enhancements (e.g., ensures that systems are geared for fee revenue changes).
Owns the execution of the pricing strategy within IT systems (e.g., responsible for system rules in the core VAF system).
Ensures that all pricing elements on the system (e.g., rule, communications, logic, etc.) meet the business needs at all times and are fit for purpose.

Preferred Qualification and Experience
Qualification
Matric
BSC mathematic or statistics
Experience
Banking
SAS and Excel
Knowledge/Technical Skills/Expertise
Banking
SAS and Excel

Head Commercial Card

Overview
Job ID: 30919
Job Sector: Banking
Closing Date: Apr 5 2018
Country: South Africa
Region/State/Province/District: Gauteng
Location: Hyde Park

Job Details
Standard Bank is the largest bank in Africa and our highly visible brand, award-winning service, and strong global presence helps us maintain our market-leading position. We place huge value on the talent of our people to drive our continued success, and to support our plans for growth. We now need a talented and resourceful individual to help us fulfil our business objectives and build customer loyalty.

Job Purpose
To lead a team to deliver sustainable economic profit at an income statement level for the Standard Bank South Africa Commercial Card portfolio.

The Commercial Card portfolio consist of Corporate Card, Travel Lodge Card, Aviation Card, Procurement Card, Small Medium Enterprise Card, Forex Card and Garage Card.

Driving all Commercial card related projects.
To research, develop, implement and manage the product offerings providing customer value and delivering portfolio targets
To develop and execute a sales strategy for the Commercial Card portfolio.
To develop and execute a revenue generation strategy in order to maximise the return from the existing Commercial Card portfolio.
To professionally represent Standard Bank and Group Card.
To manage and maintain the relationships with internal, external strategic partners and customers.
To ensure operational excellence and service delivery to all customers
Key Responsibilities/Accountabilities
Deliver Economic Profit
Develop and implement a strategic (three year) business plan, including defining the product continuum, formulating annual budgets/periodic forecasting of sales and financial targets
Develop, review and implement appropriate product pricing and philosophy
Develop Sales Strategy
Grow the account base, increase turnover, increase merchant discount and income from other commission based sources for the Commercial Card portfolio by agreed targets to achieve sustainable economic profit
Achieve agreed sales targets
Accountable for the development of a sales strategy with particular emphasis on the travel industry, blue chip corporate and public sectors.

Manage Product Offering and Performance
Ensure alignment of pricing across products in line with the group pricing guidelines
Develop and implement product propositions that are aligned to customer propositions
Develop and implement innovative products, products enhancements and re-defining efficient and effective business process to support the product strategy
Develop Revenue Generation
Manage product life cycle including, take-on and profitability
Manage portfolio profitability through successful development and implementation of short and long term tactics, including customer acquisition, activation, cross selling, retention and strategic pricing initiatives
Drive campaigns to achieve acquisition, activation, retention and turnover targets
Marketing
Develop the Annual Marketing strategy encompassing brand strategy, existing customer marketing and internal marketing
Drive the Annual Marketing Plan for allocated products/ portfolios and ensure the successful implementation thereof.

Manage Relationships
Integrate work streams/projects to ensure stated objectives are achieved on schedule. This includes effectively managing both internal and external support areas
Maintain solid relationships with internal & external business partners to ensure smooth delivery of stated business objectives and projects.
Maintaining good relationships with travel management companies, ASATA and the public sector are of particular importance

Leadership and People Management
Manage day to day function of the SBSA Commercial Card team
Provide leadership and direction to the SBSA Commercial Card team, including growing and developing direct reports
Contribute to Group Issuing strategy
Customer Service
To ensure customer satisfaction by delivering and maintaining a world class service experience
Measure performance and quality of customer touch points
Perform touch point management to ensure optimal performance
Support strategy development process through providing customer insights, needs, behaviour, expectations and competitive performance
Key performance measures
• Achieve economic profit targets as per budget
• Improve revenue quality
• Prudent risk & cost management
• Meet new account and card sales targets
• Leadership of the Diners Club and SBSA Commercial Card team
• Customer satisfaction
• Card turnover as per budget
• Reduced Customer Attrition
• Product Development & Enhancement

Preferred Qualification and Experience
Qualfication
First Degree
Business Commerce
Honours Degree
Business Commerce
First Degree
Marketing
MBA or CA(SA) would be beneficial

Experience
5-7years
Coporate Banking
5-7years
Marketing and Communications

Knowledge/Technical Skills/Expertise
5-7years
Coporate Banking
5-7years
Marketing and Communications

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