Head Transactional Banking – Business Banking

Absa Group; Sandton; On-site; ZAR 800,000 - 1,500,000; Full time

Job summary

Absa Group seeks a dynamic Head of Transactional Banking to lead innovation in business banking solutions. This strategic role involves overseeing a team, enhancing product offerings, driving growth, and managing performance metrics to position Absa as a market leader in the banking sector.

Qualifications

• Visionary leader with a passion for innovation in banking.
• Experience in product management for transactional banking.

Responsibilities

• Develop and implement strategic execution plans for transactional banking.
• Lead product managers in driving innovative banking solutions.
• Identify risks and ensure compliance with regulations.

Skills

Strategic Leadership

Innovation in Banking

Client-centric Approach

Product Management

Financial Performance Management

Market Research

Education

Bachelor's Degree in Business, Commerce or Management Studies

Job description

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

Are you a visionary leader with a passion for innovation in banking? Do you thrive in dynamic environments where your strategic thinking and client-centric approach can shape the future of business banking? If so, we invite you to take the helm of our Transactional Banking division and drive impactful change across the business banking landscape. As part of the Banking Solutions team in Absa Business Bank, the Head of Transactional Banking is responsible for leading and managing the Transactional Banking team to drive the delivery of innovative and competitive transactional banking solutions. This strategic role aims to position the Absa Business Bank as a market leader by achieving growth objectives and enhancing the overall product management lifecycle. The role involves leading a team of Product Managers, overseeing the design, innovation, and continuous enhancement of transactional banking solutions tailored for business banking clients.

Job Description

Accountability: Strategic Leadership and Product Performance:

• Develop and implement the strategic execution plan for transactional banking solutions in in line with the overall Banking Solutions strategy
• Lead the transactional banking product managers, providing clear direction, mentorship, and support to ensure the achievement of organisational objectives.
• Drive growth and innovation by identifying new opportunities to enhance the product continuum in the transactional banking space, such as digital banking solutions, cash management services, and payment systems.
• Ensure that transactional banking products are competitive, customer-focused, and aligned with the needs of customer in SME & Commercial segment.
• Lead the financial performance of the transactional banking unit, managing budgets, cost structures, and pricing strategies in collaboration with the central Pricing & FRM function
• Identify opportunities to increase revenue, optimize profitability, and reduce operational costs without compromising service quality.
• Monitor key performance indicators (KPIs) and financial targets, ensuring alignment with business goals for overall Business Bank

Accountability: Product Management, Innovation and Digitisation

• Lead the development and enhancement of transactional banking products and services, ensuring they meet the needs of business clients across different sectors & industries.
• Collaborate closely with the Strategy & CVM team design & develop Transactional Banking product solutions in line with market relevant customer value propositions
• Champion the integration of new technologies and digital banking solutions, such as mobile banking, digital payment platforms, and cloud-based services.
• Collaborate with technology teams to design and deliver seamless, user-friendly transactional banking solutions for businesses.
• Working together with the Product Digital channel to digitize offerings where appropriate.
• Driving all innovative solutions aimed at taking advantage of new developments in the industry.
• Direct and influence the management and prioritisation of the existing portfolio and new solutions through a product development pipeline from idea generation and business evaluation
• Accountability: Collaboration, Relationship Building and Thought Leadership
• Develop and maintain networks within Business Banking and within the Absa Group across critical areas, including but not limited to other product owners and the segments sales team.
• As product owner be sought out for your thought leadership on Transactional Banking Solutions within the bank and externally promoting the credibility and the business’s capabilities.
• Maintain an excellent understanding of technical expertise, and remain up to date with relevant sector knowledge, have insight into external market developments/initiatives and strategic implications thereof.
• Share best practice and industry knowledge with stakeholders, subordinates and broader team to maximise BU performance.
• Create value for all stakeholders by identifying and effectively collaborating with external partners
• Conduct market research to identify trends, customer needs, and competitor offerings in transactional banking products.
• Regularly review and analyse the performance of the bank’s transactional banking products in comparison to market trends.
• Recommend changes and innovations based on market insights to stay competitive and align with customer expectations

Accountability: Risk Management and Compliance

• Proactively identify, assess, and mitigate risks associated with transactional banking operations, including credit, operational, and market risks.
• Ensure compliance with all legal, regulatory, and internal requirements.
• Implement robust control mechanisms to safeguard the bank’s assets and reputation.
• Ensure that processes, control requirements and risk management frameworks that impact the area are documented and understood by all members of the team
• Ensure there are proper internal audit procedures and the timely resolution of all audit findings
• Ensure that all key risks are allocated to responsible individuals and that they are aligned to, managed and reported on through the governance framework
• Ensure that the team understands all compliance requirements and that all regulatory requirements are adhered to

Accountability: People Management

• Lead, develop, and motivate the Transactional Banking Product team – including responsibility for performance management, development, under-performance, training, assuming reward and recognition, grievance cases, and discipline.
• Appropriately resource the team to execute on the strategy by recruiting and attracting talent to the organisation.
• Create a high-performance environment and effective team working.

Provide continuous coaching and mentorship to the team

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised