Product Manager, Retail Business at First Bank of Nigeria Limited

First Bank of Nigeria Limited (FirstBank) is Nigeria’s largest financial services institution by total assets and gross earnings. With more than 10 million customer accounts, FirstBank has over 750 branches providing a comprehensive range of retail and corporate financial services. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal, as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.

We are recruiting to fill the vacant position below:

Job Title: Product Manager, Retail Business

Ref Id: 1900002A
Location: Lagos
Job: FBN GEN. Job Family
Organization: DMD Directorate
Schedule: Regular
Shift: Standard
Job Type: Full-time

Job Objectives

Grow Bank’s retail risk asset (SME)
Generation of cheap deposits mix for the Bank
Drive product uptake and increase share of the wallet as well as increased Top Of the Mind Awareness (TOMA)
Profit generation
Product development and management
External and internal resource management
Business creation and retention
Resource planning and coordination

Duties & Responsibilities

Assist in the development and review of Retail Business products (KDF for FMCG, Cement, PDF , Telecoms, Invoice Discount, Local Purchase Order & Contract Finance).
Assist in the coordination, deployment and uptake of Retail Business products across the Bank’s Business Unit.
Monitor and report Bank wide performance of Retail Business products to Team Lead and recommend appropriate growth strategies.
Make product presentations (in liaison with Business Units) to multi-nationals, large corporates, contractors and suppliers on the bank’s Retail Business offerings.
Assist in conducting product knowledge training for the bank’s workforce and key distributors of major principals.
Assist in conducting market intelligence and generation of marketing leads to Business Units.
Assist in conducting risk assessment of relevant industries as it relates to KDF products and advise BUs accordingly.
Monitor all borrowing SMEs accounts and promptly engage BUs on accounts not following the transaction dynamics.
Handle enquiries from BUs and confirm distributorship status from Principals.
Engage BUs on expiring/expired facilities for renewal.
Assist in organizing customer engagement for key distributors and suppliers.
Report industry trends/behavior as it affects the bank’s business in KDF to Team Lead.
Comply with the principles and policies in the Information Security Handbook
Comply with the principles and policies in the Operational Risk Management Handbook

Challenges:

Building reliable information sources (industry and bank)
Competitive pricing and collateral for optimum product uptake.

Planning:

Macro: one year; Micro: one month

Expenditure Budget:

Key financial/statistical measures of your organizational unit
Number of staff: N/A
Staff costs: N/A
Costs that you control: N/A
Income that your Division generates (if any): N/A
Net Revenue: N/A
Other Income: – N/A

Key Performance Indicators:

Actual Turnover (Volume of Retail Business Products Vs. Budget
Actual Revenue from Product Sales Vs. Budget
Average Spread per Product (Yield)
Actual Revenue from Products
Customer satisfaction index on utility/value of products to them and customer feedback on knowledge of individual products
Staff satisfaction index from branch staff and service levels of departments staff and level of product knowledge amongst bank staff
Number of Presentations and Joint Calls made with RMs to Customers
OPEX Variance
Responsiveness rate (Average Development Time)
Efficacy of Report Generation
Number of product training conducted for staff
Number of publications sent to staff & customers