First Bank of Nigeria Limited (FirstBank) is Nigeria’s largest financial services institution by total assets and gross earnings. With more than 10 million customer accounts, FirstBank has over 750 branches providing a comprehensive range of retail and corporate financial services. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal, as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.
We are recruiting to fill the vacant position below:
Job Title: Product Manager, Retail Business
Ref Id: 1900002A
Job: FBN GEN. Job Family
Organization: DMD Directorate
Job Type: Full-time
- 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
- Building reliable information sources (industry and bank)
- Competitive pricing and collateral for optimum product uptake.
- Macro: one year; Micro: one month
- 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
- Minimum Education: Degree(s) in Business related discipline, higher degrees/Professional Certification (an added advantage)
- Minimum experience – Four years relevant experience
Key Competency Requirements
- 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
- Portfolio Management
- Credit Assessment and Structuring
- Business/Product Development
- Customer Relationship Management
- Client Industry Knowledge
- Budget Planning & Control
- Financial Analysis
- Data Gathering and Analysis
- Process Improvement
Application Closing Date
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