Manager Pricing

Absa Group; Johannesburg; On-site; ZAR 200 000 - 300 000; Full time

Job summary

A leading South African bank is looking for a professional to develop and oversee effective pricing strategies. The ideal candidate will have a Bachelor's Degree in Business, Commerce, or Management Studies and will be responsible for managing profitability models and ensuring compliance with pricing policies. You will also lead a team, aligning their performance goals with business objectives. This role offers a distinctive opportunity to contribute to significant financial outcomes in a dynamic environment.

Benefits

Equal opportunity employer

Diverse workplace environment

Qualifications

• Bachelor's Degree in Business, Commerce or Management Studies is required.
• Strong analytical skills to monitor estimates and reports.
• Experience in financial modeling and pricing strategy.

Responsibilities

• Develop and oversee pricing strategies for improved profitability.
• Maintain and enhance profitability models to track financial inputs.
• Ensure compliance with pricing control environment policies.
• Manage people performance and development to meet business goals.

Skills

Financial modeling

Strategic thinking

People management

Analytical skills

Education

Bachelor's Degree in Business, Commerce or Management Studies

Tools

Profitability Model Software

MS Excel

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

Develop, implement and monitor the effectiveness of the Pricing strategy for the portfolio. This includes usage of the Profitability Model to monitor expected profitability of new business, estimate total book profitability (including fair value assessments), facilitate changes to the pricing strategy and challenge and enhance the pricing control environment.

Job Description

Accountability [15%]: Profitability Model Maintenance (Deal Level)

• Maintain and enhance the Profitability Models used for the portfolio. This is to ensure all relevant financial, funding and risk inputs are updated on an on-going basis, and ensuring the model adheres to the relevant group model risk policy requirements.
• Drive correct parameter setting with the models and drive business finance partners and related credit and treasury areas for input into models.

Accountability [15%]: Monitor and Report on Estimated Profitability

• Monitor and report new business expected profitability, considering pricing, risk profile, cost structure and funding costs.
• Monitor total book expected profitability, including fair value related assessments.
• Provide estimated profitability MI to the centralised MI unit on flow for inclusion in monthly portfolio quality review packs.

Accountability [20%]: Pricing Strategy

• Challenge existing pricing strategy by understanding the risk & reward opportunity and competitor levels and implement these strategies into production, by liaising with Information Technology (IT) within which pricing development, enhancements and management will be affected.
• Provide pricing analysis and recommend future strategies, especially in light of updated models and competitor activity.
• Determine what level of new business can be written at marginal costing in order to ensure that overall profitability measures are achieved at a retail, customer and product level.
• Assist with the development of business cases and plans by providing input to the appropriate stakeholders with regards to the recommended pricing for new products.
• Design, implement and monitor pricing champion/challenger tests and analyse the test results in order to better understand customer sensitivity in a manner that allows for the long-term strategy to be implemented.
• Understand and analyse the effect of price-elasticity at a customer and product level.
• This includes both variable and fixed rate pricing strategies of all sub products within the portfolio.

Accountability [10%]: Pricing Control Environment

• Monitor pricing exceptions.
• Based on above, challenge pricing control environment and facilitate changes as required – based on potential concerns identified.

Accountability [5%]: Committee Reporting

• Ensure required reporting to relevant committees, including the Portfolio Quality Review Forum, Revenue Forum and Exco.

Accountability [5%]: Proposal Reviews

• Assist New Product Development with assessments related to product refinements.
• Assess profitability of potential inorganic growth opportunities.

Accountability [10%]: Acquisitions Strategy Engagement

• Assist Acquisition Strategy team to assess impacts of proposed credit underwriting strategy changes.

Accountability [10%]: People Management

• Ensure delivery of business goals by aligning Performance Development (PD) Plans of direct reports to the business goals.
• Develop a high performing team by embedding formal performance development and informal coaching. Encourage frequent knowledge sharing between team members.
• Instill a performance development culture through directing the PD process and adhering to the PD calendar.
• Conduct quarterly PD discussions with team members according to PD guidelines.
• Pro-actively identify development areas of direct reports and compile development plans to address them.
• Attract and retain talent, with the assistance from the HR Business Partner.
• Interview and recruit new members of the team, including determining appropriate compensation levels with input from HR.
• Compile a headcount plan to ensure that current and future business requirements can be met and obtain approval from the Head: Risk Management for any additional headcount that might be needed for the team.
• Identify team capabilities and develop a succession plan, with the assistance from the HR Business Partner.
• Motivate team members and ensure that their efforts are recognised.
• Approve leave requests for team members and create leave plan to ensure adequate coverage.
• Initiate disciplinary action process as and when required, with the assistance of the Employee Relations Consultant.
• Act as the first line of escalation for all grievances.
• Conduct monthly meetings with the team to address performance gaps.
• Effectively lead team members and ensure their efforts are recognised.
• Ensure execution of plans seeking to address employee related issues - e.g. Employee Survey (EOS) action plans.

Accountability [10%]: Stakeholder Management

• Liaise with various internal stakeholders (e.g. Risk Management, Sales, Finance, Treasury) to secure their respective support in the implementation of changes to the pricing strategies and also ensuring capacity exists to implement.
• Review and report strategy performance and trends to the portfolio risk head, Portfolio Quality Review Meeting, Retail Credit Risk Committee, Group Risk teams, and Product Teams.

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