Product Manager, Retail Business at First Bank

Ref Id: 1900002A
Location: Lagos
Job: FBN GEN. Job Family
Organization: DMD Directorate
Schedule: Regular
Shift: Standard
Job Type: Full-time

Job Objectives

• Grow Bank’s retail risk asset (SME)
• Generation of cheap deposits mix for the Bank
• Drive product uptake and increase share of the wallet as well as increased Top Of the Mind Awareness (TOMA)
• Profit generation
• Product development and management
• External and internal resource management
• Business creation and retention
• Resource planning and coordination

Duties & Responsibilities

• Assist in the development and review of Retail Business products (KDF for FMCG, Cement, PDF , Telecoms, Invoice Discount, Local Purchase Order & Contract Finance).
• Assist in the coordination, deployment and uptake of Retail Business products across the Bank’s Business Unit.
• Monitor and report Bank wide performance of Retail Business products to Team Lead and recommend appropriate growth strategies.
• Make product presentations (in liaison with Business Units) to multi-nationals, large corporates, contractors and suppliers on the bank’s Retail Business offerings.
• Assist in conducting product knowledge training for the bank’s workforce and key distributors of major principals.
• Assist in conducting market intelligence and generation of marketing leads to Business Units.
• Assist in conducting risk assessment of relevant industries as it relates to KDF products and advise BUs accordingly.
• Monitor all borrowing SMEs accounts and promptly engage BUs on accounts not following the transaction dynamics.
• Handle enquiries from BUs and confirm distributorship status from Principals.
• Engage BUs on expiring/expired facilities for renewal.
• Assist in organizing customer engagement for key distributors and suppliers.
• Report industry trends/behavior as it affects the bank’s business in KDF to Team Lead.
• Comply with the principles and policies in the Information Security Handbook
• Comply with the principles and policies in the Operational Risk Management Handbook

Challenges:

• Building reliable information sources (industry and bank)
• Competitive pricing and collateral for optimum product uptake.

Planning:

• Macro: one year; Micro: one month

Expenditure Budget:

• Key financial/statistical measures of your organizational unit
• Number of staff: N/A
• Staff costs: N/A
• Costs that you control: N/A
• Income that your Division generates (if any): N/A
• Net Revenue: N/A
• Other Income: - N/A

Key Performance Indicators:

• Actual Turnover (Volume of Retail Business Products Vs. Budget
• Actual Revenue from Product Sales Vs. Budget
• Average Spread per Product (Yield)
• Actual Revenue from Products
• Customer satisfaction index on utility/value of products to them and customer feedback on knowledge of individual products
• Staff satisfaction index from branch staff and service levels of departments staff and level of product knowledge amongst bank staff
• Number of Presentations and Joint Calls made with RMs to Customers
• OPEX Variance
• Responsiveness rate (Average Development Time)
• Efficacy of Report Generation
• Number of product training conducted for staff
• Number of publications sent to staff & customers

Job Requirements
Education:

• Minimum Education: Degree(s) in Business related discipline, higher degrees/Professional Certification (an added advantage)

Experience:

• Minimum experience - Four years relevant experience

Key Competency Requirements
Knowledge:

• Corporate Relationship management
• Banking structure, policies and procedures.
• Product development skills
• Industry knowledge
• Banking Operations
• Banking services/products
• Use of Banking applications
• Financial/Business Analysis

Skill/Competencies:

• Portfolio Management
• Credit Assessment and Structuring
• Marketing/Sales
• Business/Product Development
• Customer Relationship Management
• Client Industry Knowledge
• Budget Planning & Control
• Financial Analysis
• Data Gathering and Analysis
• Process Improvement