Product Owner: World Currency Card

Primary Purpose

Product ownership of the World Currency Card (WCC) to ensure sustainability and competitiveness through developing features and enhancements; ownership of the income statement to drive revenue and reduce costs; conducting market research; generating product requirements; sales and marketing initiatives; determining specifications production timetables; pricing; time-integrated plans for product introduction; tactical plans for the product in line with the Bank’s strategic objectives; whilst ensuring that the appropriate governance is applied.

Provide support to Product leadership.

Minimum Requirements

• Matric
• National Diploma or Degree in Commerce.

Technical Competency Requirement

• Understanding of Personal and Business Banking products for Business and Personal markets.
• Basic understanding of Personal and Business Banking products value chains.
• Understanding of Forex and Remittance solutions.
• Basic knowledge and understanding of business drivers (revenue and cost drivers).
• Practical application of knowledge and skills to drive business growth and meet customer needs.
• Understanding of loyalty offerings and impact on costs and profitability.
• Basic knowledge of the regulatory environment in payments, including industry bodies such as PASA, Bankserv and Card Schemes such as MasterCard and Visa.
• Understanding of management accounts and finance principles (including revenue, costs, volumes and other drivers).

Duties And Responsibilities Include But Not Limited To

FINANCIAL MANAGEMENT

• Manage the income statement and drive economic profit by ensuring that the WCC product is profitable and meets customer needs.
• Take active role in determining product pricing by utilizing market research data; reviewing production and sales costs; anticipating volume; costing special and customized orders.
• Understand business requirements and put together plans in terms of growing the business (short-term and long-term).
• Executing, tracking, and leveraging revenue and cost items.
• Ensure financial objectives are met by partnering with Finance and Product Leadership in preparing an annual budget; analysing overall variances; and directing corrective actions within the team. Analyse reasons for variances and which levers to pull to ensure that budget is achieved. Advise the product managers on what changes to implement.
• Provide input into the budget process and the sales targets.
• Work with sales staff to develop product sales strategies.
• Work with marketing staff to deliver integrated marketing plans.
• Continuously review performance of the WCC product against scorecards, targets, and processes to address any gaps.

CUSTOMER CENTRICITY

• Put customer at the centre of daily work.
• Provide support to front-line sales with product knowledge, customer queries and pricing.
• Assist and support business partners with queries relating to any ongoing analysis, development, and operations.
• Bring to management attention all requests and enquiries for product information or changes.

OPERATIONAL EXCELLENCE

• Ensure competitive analysis on comparable products which other competitors offer.
• Translate product strategy into detailed requirements and prototypes.
• Scope and prioritize activities based on business and customer impact.
• Implementation of a new product/idea in accordance with the analysis.
• Systems downtime management: proactive management of WCC, setting up critsit meetings with vendors and key operations staff, ensuring proper communication with internal stakeholders and external stakeholders and customers.

DATA MANAGEMENT

• Work closely with Product Managers and Data team to ensure their data and reporting requirements are met to achieve objective of:
• Providing Customer Insights,
• Product Insights and
• Optimising product and identifying opportunities through data led findings.
• Compile key business metrics and report on them to management.
• Create additional analyses and reports as requested by management.

STAKEHOLDER MANAGEMENT

• Provide support to front-line sales with product knowledge and customer queries.
• Assist on a need basis in resolving customer queries across the product suites.
• Develop and maintain good relationships with internal stakeholders to ensure success of projects and to deliver the required products and services.
• Respond in a timely manner to requests and enquiries for product information or changes.

PRODUCT DEVELOPMENT

• Develop and test new product enhancements based on an approved Business Case.
• Ensure products are developed for individual and/or business clients as per the following methodology and/or deliverables:
• Product Plan and Strategy – includes all the ‘P’s, e.g., Product features, benefits; pricing; distribution- and service channels; processes & procedures; SWOT.
• Evaluate the company products and compare them against industry trends.
• Assist with input into established processes, e.g. New Product Approval; Project Management; Business Analyst engagement; Business Requirement specifications; Test plans; Change Management.
• Documentation and reference material for customers and staff, e.g. User Guides, Forms and Manuals.
• Briefing and driving the relevant departments, e.g. Marketing, Sales Campaigns, Training and Call Centre to ensure that all functions achieve the required objectives.

LEARNING AND GROWTH

• Take ownership for driving own career development.
• Prepare and obtain sign off on your Personal Development Plan.
• Achieve the objectives/milestones set out in the development plan.
• Review performance on a regular basis (monthly, quarterly, and annually).

This position is advertised in line with our commitment to Employment Equity.