Product Specialist

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

To take full responsibility of selling Payment solutions offering to potential customers and drive acquisition of new to bank and new to segment Business Banking and Enterprise customers with a primary focus on acquiring new business as well as switching merchant acquiring relationships from competitor banks.
To build and maintain professional relationships and drive sales via sales campaigns, leads and cold calling and achieve sales and turnover targets.
Ensure the execution of the sales capability that delivers excellent customer service and relationship management for our merchants and internal business partners.

Job Description

Responsibilities

Accountability: Revenue and merchant growth through sales enablement

• Identify sales opportunities and offer solutions appropriate for the merchant's needs, goal and objectives by using the tools which outlines the products merchants currently have and the propensity for new product take-up.
• Adopt a commercial approach to appropriate cost to serve versus value generation.
• Achieve the agreed new business turnover, new business and other revenue targets as agreed.
• Achieve the agreed Merchant Service Fee targets by negotiating additional charges, pricing and any other applicable fees relevant to the product/solution sold to the merchant.
• Complete new applications and ensure that process is finalized within the agreed service level turnaround times with a continuous follow up on progress of outcomes. This will also entail the communication of the decision outcome to the merchant.
• Implement an individual sales plan that is linked to the regional sales plan and overall Payment Solutions strategy and business plan.
• Participate in the design and execution of the regional sales plan to ensure that targets are delivered on.
• Action all sales leads received from potential merchants as well as all internal business partners within the agreed service level agreements and turnaround times.
• Adhere to the laid down sales processes and procedures within the Payment Solution frameworks.
• Negotiate pricing, complete and sign new merchant agreements prior to implementation.
• Execute on the regional sales plans by ensuring an increase in the percentage of customers taking merchant acquiring solutions by conversion of qualified leads into sales by selling offers, which benefit the merchant as well as the organization.
• Achieve sales (new business and existing growth) that will establish Payment Solutions as a center of excellence for Sales execution across the Commercial markets.
• Negotiate pricing and allocate rates within the allocated mandate and refer to the next mandate holder where outside of mandate with the appropriate business motivation.
• Relationship manages the engagement with merchants and relevant internal and external stakeholders in the relevant business units by attending meetings with internal business partners (Management Committee meetings, customer meetings, events, etc.)
• Align and implement sales initiatives with the Business Banking units with the aim of implementing a sales methodology that will lead to cross segment revenue and customer growth.
• Monitor effectiveness of regional sales campaigns to ensure delivery thereof and implement remedial improvements for future campaigns where required.
• Execute on the regional retention plans in alignment with STP objectives and Customer Experience strategy.
• Work closely with internal and external business partners to ensure that our sales execution delivers on best in class products, services and support.

Accountability: Sales performance and execution

• Agree relevant sales plans, campaigns and targets with team manager as well as other internal sales units that will achieve the business plan objectives and STP.
• Monitor individual sales performance on a daily/weekly/monthly/quarterly and annual basis and provide feedback to direct manager on how to improve performance.
• Create and execute opportunities and prospects for new business by working through potential customer lists and find new innovative ways of selling other than the normal channels.
• Review national competitor information, market trends on a regular basis and propose solutions to direct manager to ensure that Payment Solutions offers a competitive product or make a recommendation to introduce a better product or offer.
• Check that approved deals have been taken up to increase market penetration in new and existing business. Ascertain reasons for deals not taken up by liaising with the relevant internal business partner (Business Bank, Acquisitions, Enterprise, etc.).
• Understand the relevant product features and benefits to ensure that accurate information and solutions are shared with merchants and internal business partners.
• Analyze sales data (financials) and customer insights to enhance lead to sales generation and feedback responses to internal business partners to assist in adopting a sales methodology that is not silo focused. Investigate customer and internal business partner requirements and implement a desired Payment Solution footprint that will ensure the achievement of revenue streams.
• Reporting on individual sales performance.

Accountability: Relationship Management

• Reposition the Payment Solution regional stakeholder management in order to improve key relationships and change the acquisition methodology with internal business partners.
• Establish stakeholder needs and expectations in order to develop effective stakeholder engagement plans.
• Personally relationship manages the top merchants in the region and ensures that an effective and efficient relationship model is in place to retain merchants within the allocated portfolio.
• Update the direct manager as well as regional business partners on the sales performance and provide input where required.
• Internal and external customer meeting attendance where required.
• Engage with the RBB business partners with the aim of promoting the value proposition of Payment Acceptance.

Accountability: Customer Experience Execution

• Execute on the business unit's Customer Experience strategy and ensure that customer experience is a valuable differentiator within the value chain.
• Work closely with the direct manager to drive a focused customer experience agenda that will help the region achieve its' sales and after sales support objectives.
• Ensure smooth and effective migration and on-boarding of new merchant relationships.
• Use the feedback of the internal and external customer experience measurements to drive change and improvement that will benefit the sales strategy of the region.
• Adhere to Customer Experience and service quality standards in line with Group Customer Experience strategy.
• Implement improvement initiatives that will ensure high quality standards and customer experience.
• Constantly keep abreast of the latest developments and trends with regard to customer expectations and service.
• Ensure that all allocated complaints have been resolved within the allocated time frames as per the Treating Customers Fairly (TCF) principles.
• Accept primary responsibility for merchant satisfaction through excellent service by ensuring that Payment Acceptance is the market leader in terms of turnaround times, pricing and value for money.

Accountability: Risk and Compliance Management

• Maximize sustainable risk by adjusted portfolio contribution.
• Work closely with the Risk and Control Assurance team and direct manager to determine appropriate RCA's and adherence to RCA requirements.
• Review risk and controls that exist in the region and own the adherence to control assurance.
• Embed legislation affecting Sales and Sales procedures.
• Complete required compliance and other attestations and ensure that impacted team members complete their attestations and compliance tests.
• Complete attestations to testify to the adequacy of controls in the region on request.

Education and Experience Required

• NQF level 7 qualification (Finance, Sales, Commerce) – preferred
• (3) years' experience within a client facing role (commercial/or financial industry)
• (3) years relationship management experience in a financial services industry –Preferred

Knowledge & Skills Required

• Strong Commercial Management
• Sales performance and sales administration
• Customer Relations Management
• Negotiation
• Risk Management
• Retention

Competencies required

• Deciding and initiating action
• Learning and researching
• Entrepreneurial and commercial thinking
• Relating and networking
• Adapting and responding to change
• Persuading and influencing
• Creating and innovating
   

General

• Must have driver's license and own car. Regular travelling between areas and (extensive travelling)
• Preference will be given to South African Citizens and permanent residents of South Africa with proof of permanent resident status
• The appointment will be made in line with the Absa Employment Equity strategy
• No criminal record

Education

Bachelors Degree and Professional Qualifications: 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

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