Job Title: Head of Retail Products
Standard Chartered PLC is a British multinational banking and financial services company headquartered in Hong Kong, China. It operates a network of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) across more than 70 countries and employs around 87,000 people. It is a universal bank with operations in consumer, corporate and institutional banking, and treasury services.
Despite its UK base, it does not conduct retail banking in the UK, and around 90% of its profits come from Africa, United Kingdom, United States and the Middle East. Standard Chartered Bank Uganda is the longest established international bank in the country; the first branch was opened in August 1912. We had 11 branches up to 1972 and retained only one branch during the turbulence of the 70s. In 1998 we acquired 4 branches of former Cooperative Bank in November 1999. Standard Chartered Bank Uganda today has a network of 11 branches in Kampala, Jinja, Mbale, Mbarara and Gulu. Standard Chartered Bank Uganda has 29 ATMs and over 600 staff.
Job Summary: The Head of Retail Products will be responsible for the formulation and driving execution of strategic agenda for Retail Banking Products maximizing growth, market share & profitability for product portfolio encompassing Unsecured Lending (CCPL), Secured Lending (Mortgages & Lending against Collateral) and Deposits.
Key Duties and Responsibilities:
1. Strategy and Business Performance:
- Develop and execute segment-led product management & portfolio optimization strategies in Retail Banking Products to achieve goal of maximizing Product Contribution (ER less Direct Cost) and Product Level Net Promoter Score.
- Build and manage business development and engagement model with external business partners critical to strengthening product offering value proposition and revenue growth of product portfolio. Business partners include 3rd party vendors, business alliances i.e. developers, lawyers and agents for Secured Lending, retailers for CCPL etc
- Oversee and optimize portfolio risks in conjunction with Risk Head
- As part of top management team, contribute towards establishing the strategy and priorities for the consumer banking business in country
- Expand Stanchart market share
2. Product Development & Portfolio Optimization:
- Grow product innovation and development initiatives to meet/anticipate needs of customer segments across retail HVS and Personal Banking
- Optimize existing product portfolio & bundled offerings through sustained activation & utilization activities
- Oversee adherence and compliance of PPGs & CADs and the control of programs/CDD
- Develop and launch cross-product bundling propositions for deepening customer relationship and brand loyalty
- Work closely with Marketing on product marketing and branding
- Identify new segments, channels or opportunities for product distribution and marketing
- Work collaboratively with other business functions to enhance business opportunities through cross-sell and to resolve cross-functional operations and service issues.
- Establish product governance standards covering related E2E sales and service delivery & customer engagement and advisory process
- Establish and own governance for product advisory/sales specialists’ role qualifications, capacity planning & skill and knowledge certifications
- Enable the frontline staff acquire the necessary product knowledge, customer engagement skills through provision of collaterals, tools, training support and scripts
- Maximise the investment and use of existing and new channels across various products
- Responsible for overall retail products profitability
3. Process:
- Improve the end-to-end process for Retail Banking Product suite with focus on quality in delivery and cycle time.
- This includes working with Segment, Distribution, Marketing & Functions on processes and systems for acquisition, underwriting, authorization, account retention & maintenance, results tracking, etc to deliver the customer value proposition.
4. Leadership & People:
- Build a strong local talent pipeline for future business growth and continuity
- Mentor direct reports and key talents to deliver on individual performance
- Manage employee engagement, motivation and attrition issues
- Be an effective agent of change and a role model for talented managers throughout the Bank
5. Compliance & Control:
- Ensure strict compliance with all regulations and controls as set by the Bank and external regulatory authorities by all staff
- Ensure AML/CDD policy requirements are embedded in the business
- In charge of achieving and maintaining satisfactory audit rating
Qualifications, Skills and Experience:
- The applicant must have attended academic studies in the field of business administration, economics, preferably MBA
- Significant experience in successful business practices geared around product management
- Detailed working experience in the industry
- Good knowledge and understanding of products and services in strategic Asset and Liability management, risk management and complex international financial needs
- Good knowledge and understanding of relevant products and services in HVS and Personal Banking
- Sound understanding of all business guidelines and compliance requirements and issues
- Strong people management skills
- Comprehensive knowledge and understanding of key business driver in dedicated geographical market(s) with sound understanding of legal, political and economic situation/framework
- Deep understanding of cultural ethnic and religious market conditions
- Proven personal network into relevant client segments
- Exceptional communication and presentation skills
- Endurance, personal perseverance, strong self motivation, entrepreneurial, team player
NB: Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.
How to apply for the job:
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