Product Owner: World Currency Card

Primary Purpose

Product ownership of the World Currency Card (WCC) to ensure sustainability and competitiveness through developing features and enhancements; ownership of the income statement to drive revenue and reduce costs; conducting market research; generating product requirements; sales and marketing initiatives; determining specifications production timetables; pricing; time-integrated plans for product introduction; tactical plans for the product in line with the Bank’s strategic objectives; whilst ensuring that the appropriate governance is applied.

Provide support to Product leadership.

Minimum Requirements 

• Matric

• National Diploma or Degree in Commerce.

Technical Competency Requirement:

• Understanding of Personal and Business Banking products for Business and Personal markets.
• Basic understanding of Personal and Business Banking products value chains.
• Understanding of Forex and Remittance solutions.
• Basic knowledge and understanding of business drivers (revenue and cost drivers).
• Practical application of knowledge and skills to drive business growth and meet customer needs.
• Understanding of loyalty offerings and impact on costs and profitability.
• Basic knowledge of the regulatory environment in payments, including industry bodies such as PASA, Bankserv and Card Schemes such as MasterCard and Visa.
• Understanding of management accounts and finance principles (including revenue, costs, volumes and other drivers

Duties and Responsibilities include but not limited to:

FINANCIAL MANAGEMENT

• Manage the income statement and drive economic profit by ensuring that the WCC product is profitable and meets customer needs.
• Take active role in determining product pricing by utilizing market research data; reviewing production and sales costs; anticipating volume; costing special and customized orders.
• Understand business requirements and put together plans in terms of growing the business.
  (short-term and long-term)
• Executing, tracking, and leveraging revenue and cost items
• Ensure financial objectives for are met by partnering with Finance and Product Leadership in preparing an annual budget; analysing overall variances; and direct corrective actions within the team. Analyse reasons for variances and which levers to pull to ensure that budget is achieved. Advise the product managers what changes to implement.
• Provide input into the budget process and the sales targets.
• Working with sales staff to develop product sales strategies.
• Working with marketing staff to deliver integrated marketing plans.
• Continuously review performance of the WCC product against scorecards, targets, and processes to address any gaps.

CUSTOMER CENTRICITY

• Put customer at the centre of daily work.
• Provide support to front-line sales with product knowledge, customer queries and pricing.
• Assist and support business partners with queries relating to any ongoing analysis, development, and operations.
• Bring to management attention all requests and enquiries for product information or changes.
  

OPERTIONAL EXCELLENCE

• Ensuring competitive analysis on comparable products which other competitors offer.
• Translate product strategy into detailed requirements and prototypes.
• Scope and prioritize activities based on business and customer impact.
• Implementation of a new product/idea in accordance with the analysis.
• Systems downtime management: proactive management of WCC, setting up critsit meetings with vendors and key operations staff, ensuring proper communication with internal stakeholders and external stakeholders and customers
  

DATA MANAGEMENT

•  Work closely with Product Managers and Data team to ensure their data and reporting requirements are met to achieve objective of:
• Providing Customer Insights,
• Product Insights and
• Optimise product and identify opportunities through data led findings.
• Compile key business metrics and report on them to management.
• Create additional analyses and reports as requested by management.
  

STAKEHOLDER MANAGEMENT

• Provide support to front-line sales with product knowledge and customer.
• Assist on a need basis in resolving customer queries across the product suites.
• Develop and maintain good relationships with internal stakeholders to ensure success of projects and to deliver the required products and services.
• Respond in a timely manner to requests and enquiries for product information or changes.

PODUCT DEVELOPMENT

• Develop and test new product enhancements based on an approved Business Case
• Ensure products are developed for individual and/or business clients as per the following methodology and/or deliverables:
• Product Plan and Strategy – includes all the ‘P’s, e.g., Product features, benefits; pricing; distribution- and service channels; processes & procedures; SWOT.
• Evaluate the company products and compare them against industry trends.
• Assisting with input into established processes, e.g. New Product Approval; Project Management; Business Analyst engagement; Business Requirement specifications; Test plans; Change Management
• Documentation and reference material for customers and staff, e.g. User Guides, Forms and Manuals
• Briefing and driving the relevant departments, e.g. Marketing, Sales Campaigns, Training and Call Centre to ensure that all functions achieve the required objectives

LEARNING AND GROWTH

• Take ownership for driving own career development.
• Prepare and obtain sign off on your Personal Development Plan
• Achieve the objectives/milestones set out in the development plan.
• Review performance on a regular basis (monthly, quarterly, and annually)
  

This position is advertised in line with our commitment to Employment Equity.