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 position and drive the overall fee pricing strategy (NIR) for Retail and Business Banking, whilst ensuring that the appropriate governance is applied when effecting pricing changes (e.
g., annual pricing changes; validation of all front line input relative to pricing change requests).
To ensure the effective implementation and communication of annual fee pricing changes to all key internal and external stakeholders.
To ensure that RoE, Operating Income and Non Interest Revenue are met within budget and product.
To ensure front line is equipped with pricing tools to enable appropriate decision making and ensure that pricing in the front line stacks against budget.
Key Responsibilities / Accountabilities Finance
Provide input and guidance on NIR pricing prevent revenue leakage, enhance revenue optimisation, revenue mix and performance metrics for retail and business banking
In conjunction with Product, provide input into pricing strategies that support the strategic business intent through :
Facilitation and engagements with multiple stakeholders (including payment streams, Client Engagement, costing, etc.)
Risk identification, understanding financial trends, competitive environment and their impact on the pricing strategy.
Understanding and keeping up to date with regard to regulation which may impact pricing.
Facilitate pricing transition from legacy systems to core banking
Oversight of the Personal Banking pricing strategic targeting and customer pricing strategies and frameworks for Personal and Business Segments (input, shaping, design and execution).
Enable the customer pricing strategy through the provision of subject matter expertise to the front line in order to improve the capability of response to customer needs.
Develop and source appropriate tools and methods to enable the front line to have the appropriate pricing conversations with customers (incl.
a holistic view of a customer’s relationship with the bank. This includes :
Product mix (e.g., Cashman and Cash Centre functionality)
Distribution mix (e.g., the channels customers choose to interact with us)
Customer level pricing
Segment level pricing
Provide relevant pricing economic, competitor and sector / segment insights to the front line to enable improved customer engagements.
Ensure that incoming demand received from front line for coordination of sales related activities is driven in line with internal governance and processes (e.
g. that the Ucount fee is part of a bundle).
Ensure that support is provided to the front line for execution of sales related activities.
Ensure the fulfilment of the Home Loans Mobile Variable Pay process.
Ensure customer pricing stacks against product and segment pricing outputs.
Ensure financial models for current and new pricing are in line with internal standards
Provide guidance and support on the new ways of work (NWoW) culture and the creation of empowered teams.
Integrate enabling functions as part of the business.
Provide guidance and assistance on the sourcing of critical competencies and skills required by the front line.
Manages a team to ensure effective delivery of objectives for the area.
Fosters collaboration between direct team members and the broader finance community.
Develops a high performing team by embedding the bank's performance process, regular performance feedback and coaching.
Addresses poor performance.
Motivates team members and ensures that they receive recognition for work well done.
Determines development needs of the team and ensures that development opportunities (training, rotation, on-the-job learning) are budgeted for and executed.
Maintains a succession plan for the team by reviewing the skills of the team at least twice a year and has career conversations with them.
Interviews and recruits new members of the team, including determining the appropriate salary with input from the Human Capital Business Partner.
Creates workforce plans for the area to ensure that current and future business requirements can be met. Such plans should be revisited at least twice a year.
Uses workforce plans to obtain headcount approvals on an annual basis and as input into the financial budgeting cycles.
Creates quarterly leave plans to ensure adequate coverage. Approves leave requests and leave sell requests.
When required, initiates disciplinary processes for team members. Resolves grievances raised by team members, escalating only if unresolved.
Act on the feedback received from the front line in order to improve pricing capabilities and options per segment / customer need.
Ensure that Pricing has been implemented correctly across Retail and Business Banking
Adhere to all risk management and control systems such as Credit, Operations, People, Business and Operational Risk and regulatory compliance.
Assist and provide pricing input and support on risk and compliance matters (e.g., governance of pricing strategy and modelling, market conduct, etc.)
Ensure all audit findings are dealt timeously
Appropriate use of tools to enable front line to deliver on what matters to customer.
Manages the reputational risk of Standard Bank stemming from pricing related issues within the banking industry.
Continuous market assessment of competitor strategies and activities.
Enable the delivery of NIR drivers and NIR targets related to Pricing.
Support the development of holistic customer pricing views for Personal, SE and BB segments.
Enable sales tactics to drive performance.
Improved capability of response to customer pricing demand
Reduction in revenue leakage
Input pricing enhancements and guidance on managing exit costs based on validation of front line input
Preferred Qualification and Experience
Honours Degree (preferred) in Finance and Accounting
7 10 years’ experience in in the design and development of customer value propositions.
Knowledge / Technical Skills / Expertise
People Strategy Development
Risk and Compliance management
Interpreting Financial Statements