PRODUCT OFFICER; RETAIL LIABILITIES AT NMB BANK PLC
· Responsible for developing and supporting liabilities mobilization for local and foreign currency in line with budget and profitability through innovative product development, campaigns, revamping and Management of the product life cycle.
· Responsible for pricing intelligence, competitive and proper incorporation of the marketing mix for the bank’s products and services including implementation on the system and leakage management.
· Assist in management of the entire product lifecycle; idea generation to conceptualization, design and development, implementation (UAT, Pilot, Go live and Post analysis).
· Develop sales strategies and support branches in closing deals that are from the head office; handle and manage efficiently dormant and overdrawn accounts.
· Assist in developing and managing product and service campaign for branch and head office staff and manage product portfolio to ensure it has updated information.
· Provide information that gives competitive advantage over peer competitors on liabilities products and Services to NMB
· In collaboration with Retail MIS Team, ensure proper, accurate and regular sales reporting for the product and service consumption at Head office, Zones and Branches
· Responsible for compliance and regulatory issues for all liability product ranges and services.
· Co-ordinate the design of new products to meet customer needs, provide competitive advantage and maximise speed of customer acquisition in chosen segments
· Evaluate branch performance on deposit mobilization and recommend necessary action for performing and non-performing branches.
· Where applicable oversee the functions of the sales temporary staffs that facilitate the banks operations and services.
· Visit branches and support them to ensure they have necessary business tools for cross selling and upselling.
· Provide support in introducing, reviewing and enhancing the defined prices for new products/ interconnect settlement for national & international agreements/ Value Added Services/Bundling products taking into account internal costs, competition, regulation and market constraints
· Assist in determining the feasibility of new products and determine optimal pricing for the new products.
· Provide support in developing and reviewing polices, procedure, and processes for the pricing section and oversee the pricing for developed business cases for new products/projects.
· Monitor pricing to ensure that the objectives are achieved (acquisitions/usage/revenue)
· Observe competitors pricing for similar products/services and recommend corrective actions and review the sensitivity report about the reaction of the direct competitors and reaction of the distribution channels basing on the marketing mix.
· Review and monitor the effect of pricing of a certain product/service on the others (Cannibalization effect)
· Ensure the tariff guide has appeared on notice board at branches and newspaper according to BOT guidance and comprehensive tariff guide and extracts are printed and shared to branches within the acceptable time limit.
· Ensure the comprehensive tariff guide have been tested through (UAT) while involving all key stakeholders and the same have been implemented in the system as per approval.
· Perform constant monitoring of tariff behavior in the system to ensure there are no income leakages.
· Strong knowledge on liabilities products and services.
· Strong knowledge in pricing and ability to do market intelligence.
· Knowledge on consumer buying behavior and pricing sensitivity
· Strong computer skills; proficient in outlook, word, excel and power point
· Excellent analytical and conceptual skills.
· Problem solving skills.
· Strong interpersonal and networking skills for both internal and external customers.
· Excellent communication skills.
Qualifications and Experience
· Bachelor Degree in Business Studies or Economics from a reputable Academic Institute/University/College.
· Master’s Degree or Post Graduate Diploma in Business Studies is preferred.
· A minimum of 4 years of relevant working experience in Banking Operations is a must.
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Location: Head Office