Product Analyst: Alliance Banking

Designation:FNBKANA002 – Product Analyst: Alliance Banking
Category:Middle Management
Posted by:African Bank
Posted on:19 Dec 2023
Reference Number:FNBKANA002
Closing date:05 Jan 2024
Position Type:Permanent
Location:Midrand
Workplace:Fintech Banking

MINIMUM EDUCATION
Business degree / diploma 

MINIMUM EXPERIENCE
Minimum 3 years’ experience in product design and analytics/ product maintenance/ related field

CRITICAL COMPETENCIES
Strong understanding of banking products and services
Knowledge and understanding of internal systems
Keep abreast with changes in regulations to ensure products comply with legal requirements
Financial competency
Market awareness 
Detail orientation
Analytical skills
Organisational skills
Report writing skills
Prepare business cases

ADDITIONAL COMPETENCIES
MS office skills
Presentation skills
Milestone and deadline driven
Communication skills (verbal and written)

BEHAVIOURAL ATTRIBUTES
Self-starter
Attention to detail
Coping under pressure
Take initiative
Entrepreneurial thinking (Business Acumen)
Professionalism in engaging partners / customers
Ability to work independently
Problem solver

KEY RESULT AREAS
1.Treating Customers Fairly and Compliance
Create and maintain productive relationships with internal and external clients by providing advice and assistance
Create understanding of the ‘real’ versus ‘perceived’ need through experience and expertise while complying with company policies, legislation and regulations
Keep the client informed about progress through written communication, telephone communications, and/or face-to-face meetings
Build a positive image by exceeding client expectations at all times
Treat internal and external customers fairly at all times

2.Product Design
Co-create and design either new or enhance existing products, services, capabilities or distribution channels
Gather data on competitor products, market conditions, and industry trends to inform product strategy
Scan the market and provide insights and industry trends in the design of new or enhancing existing products
Work closely with internal value chain stakeholders and product providers in assessing the business, product and commercial requirements
Assess the market in terms of pricing and provide recommendations in pricing our products and services
Assess business capabilities and systems in support of product requirements
Draft and present product design documents, business rules and matrix
Support the Senior Manager: Solution Engineering in preparing viability and business cases for new products and services

3.Product Enablement
Engage the market for solutions and or partners to support our product requirements
Evaluate business requirements and IT specifications to ensure that such aligned to product design requirements
Participate in project activities in the delivery of the product
Participate in providing test scenarios and testing when enabling new products or changes to existing products
Change management on new or existing products
Work closely with cross-functional teams and BU’s to implement changes and enhancements to products
Training – develop training content for new products or amended products in conjunction with other value chain stakeholders
Perform ad-hoc training interventions I.e. ‘Train the trainer’

4.Product Maintenance and Support
Monitor the performance of the product throughout the product life-cycle and make recommendations to business in enhancing such performance
Maintain and review product rules and pricing on an annual basis or when such is required
Provide product support to internal value chain and alliance partners consuming such products
Manage central depository of all product documentation
Ongoing customer and competitor product needs analysis
Incorporate customer feedback into the maintenance process to enhance product features and improve overall user experience
Identify and address any issues related to product functionality, customer experience or regulatory compliance
Analyse data related to product performance, customer behaviour and market trends to identify areas for improvement

5.Reporting
Provide daily, weekly and monthly reporting on all activities related to product function
Evaluate the performance of products aligned to that forecasted
Assist Senior Manager: Solution Engineering with Product reporting to relevant committees and business MANCO’s
Give regular progress of on-going product development initiatives, including updates, timelines and challenges
Provide reports that include recommendations for product improvements, new features, modifications, based on data analysis and market insights 
Ensure regulatory reporting by reviewing the compliance status of banking products, ensuring alignment with relevant regulations and standards

6.Stakeholder Liaison
Co-ordinate product meetings between various stakeholders (internal and external)
Monitor and resolve queries raised by the various business areas internally and externally
Work closely on an on-going basis and maintain relationships with product suppliers, key partners and internal stakeholders, i.e. assurance functions, operations, etc. 
Build and maintain good relationships with all stakeholders based on trust and professionalism
Keep stakeholders and customers informed about progress through written and other communication
Build a positive image by exceeding client expectations at all times
Nature 1:
To analyse Transactional data and behaviours to determine key focus areas. Monitor for trends and determine initiatives that will grow new accounts and usage across the banking product. Determine opportunities to increase revenue on the product. Support and drive rewards/Loyalty initiatives. Assist the product team in achieving its objective by providing relevant analytics, product insights, information and analysis
Nature 3:
Motivation:

KEY PERFORMANCE AREAS

Behavioural (COMP)
Ability and willingness to learn and try new approachesAbility to influence peersConflict managementCreating & InnovatingCuriosityEnjoys solving difficult problemsMS Office skillsOrganisational skillsPeople ManagementRelationship managementTeamwork
Minimum Education
Honours Degree in Data Science or AI or Computer Science or Econometrics or Engineering or Statistics or Actuarial Science or similar or relevant professional certification
Minimum Experience
3 years’ experience in analytical or financial role.
Technical (COMP)
Attention to DetailBusiness acumenCommunication Skills (verbal, listening & written)Data drivenData visualisation skillsDeadline drivenFacilitation SkillsFinancial Modelling skillsInterpersonal skillsMathematical modellingOptimisationPresentation SkillsProblem solvingReport writing skillsResults drivenSQLStatistics and mathematicsStrong analytical abilitiesStructured and unstructured dataUnderstanding and knowledge of: Business policies and procedures. Legislation

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