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  • Posted: Jun 20, 2014
    Deadline: Not specified
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    In 1965, the Standard Bank of South Africa merged with the Bank of West Africa acquiring businesses including a banking operation in Nigeria, which dated back to 1894. The name was then changed to Standard Bank of West Africa. Four years after the merger, Standard Bank Nigeria was incorporated locally to take over the business in Nigeria. In 1971, 13% of the...
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    Product Manager - Managed Investment

    Job ID: 436678
    Job Function: C&I Clients
    Location: Lagos

    Job Description

    •     Implementing product programs and devising tactical product campaigns.
    •     Supporting sales staff with relevant product support, training and marketing collaterals.
    •     Supporting utilization and implementation of all business MIS set generated by BIU.
    •     Assisting in developing awareness for Wealth Mgt Credit & Investment products and stimulating an investment culture in Consumer banking clients / prospects across all segments by implementing various initiatives e.g. seminars, presentations, incentive schemes, social / club engagements etc.
    •     Assisting in creating a strong product offering by providing market feedback and monitoring trends locally and abroad.
    •     Ensuring effective delivery of products and services to Investment Services customers by deploying appropriate systems & processes to support the business.
    •     Managing risk to minimize operational losses and maintain reputation of the bank at all times.

    Key Roles & Responsibilities

    •     Maintain up to date product programmes & documentations
    •     Support in developing suitable product positioning and packaging to ensure sustained competitive advantage
    •     Support in managing the positioning of Wealth Management Credit & Investment products vis-à-vis competitors
    •     Process overdraft transactions – documentation review & generating of Credit Bureau Reports
    •     Manage product development & deployment of appropriate systems and procedures to support sales and service for Wealth Management credit & investment products
    •     Support maximising of business performance of Wealth Mgt Credit & Investment products.
    •     Implementing various promotional programmes, either unilaterally or jointly with a strategic alliance partner.
    •     Monitor SLA’s with CB Operations (local & Hub) to identify gaps and devise solutions to ensure products function effectively
    •     Understand competition activities and devise promotions and strategies to counter them
    •     Provide necessary support to the channel for acquisition of products
    •     Provide adequate sales and marketing material and well-defined process notes.
    •     Monitor conceived sales contests for the RM Team

    1. Budget Targets

    •     To support sales channels towards achievement of Wealth Mgt Credit & Investment Products targets as they apply to Assets under management, facility limit/utilization and revenue.
    •     To support sales channels in the execution of the various product sales plans, through presentations and training efforts in branches.
    •     Design and implement periodic internal and external campaigns to support Wealth Mgt Credit & Investment Products offered by the bank.

    2. Portfolio Management

    •     Proper management of Wealth Mgt compliance processes that guide sales processes and product management to mitigate mis-selling and ensure TCF applies.

    3. Processing of Asset Transactions

    •     Generate Credit Bureau Report
    •     Review pricing
    •     Check for proper documentation

    4. Risk Management

    •     Assist in control and monitoring of NBD, DPD, Loss ratios etc as they apply to asset books
    •     Control and monitoring of mis-selling risk.
    •     Monitoring of risks related to Wealth Mgt Credit & Investment products and review of KCSA, KRI and other risk tools generated by responsible persons.

    5. Other

    •     Recommend creative ways to the Head Wealth Mgt Credit & Investment Products by which set product & sales objectives can be met.


    Qualifications & Skills

    •     Thorough knowledge of the Bank’s products, services and delivery channels available to Consumer Banking customers.
    •     Thorough knowledge of the Bank’s Procedure and Policies
    •     Excellent Interpersonal skills.
    •     Effective writing and presentation skills in English
    •     Minimum of a 2nd Class degree in a relevant course.
    •     3-5 years product development experience in a similar role
    •     Strong relationship management skills
    •     Good Communication and Interpersonal skills.
    •     Role holder is expected to have some knowledge and experience in offering a range of products to meet customers’ needs but is unlikely to have the full knowledge and experience to offer all Consumer banking products
    •     Customer Relationship Management (Expert)
    •     Market / Competitor Knowledge (Advanced)
    •     Product knowledge (Advanced)
    •     Needs profiling & analysis (Advanced)
    •     Negotiation & Objection Handling (Advanced)
    •     Needs Based / Consultative Sales Skills (Advanced)

    Method of Application

    Interested and qualified candidates should click here to apply online.

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