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Job Title:  Head, Retail Products (1 Position)

Organisation: DFCU Bank

Duty Station: Kampala, Uganda

Reports to: Chief, Business Solutions & Marketing Officer

About the Company:

DFCU Bank is a fast growing commercial bank offering a variety of innovative products and services. DFCU Limited was started by the Commonwealth Development Corporation (CDC) of the United Kingdom and the Government of Uganda through the Uganda Development Corporation (UDC) under the name of Development Finance Company of Uganda Limited. Later restructuring brought in DEG (of Germany) and International Finance Corporation (IFC) as equal partners with CDC and UDC, each having a 25% stake in the company. Its objective was to support long-term development projects whose financing needs and risk did not appeal to the then existing financial commercial lending institutions.

Job Summary:   Reporting to the Chief Business Solutions & Marketing Officer, the role holder will be accountable for product strategy, product economics, portfolio risk appetite, portfolio budget and management of dfcu’s products financial performance for the Retail Banking business unit.

The role holder will be accountable for the definition, development (with digitization where applicable) and implementation of fit-for-purpose client value propositions based on the unique needs of our customers, across our priority segments and sectors.

The role holder will drive the product management team’s strategy execution across sales, product profitability and market share growth, in collaboration with the other revenue and enabling functions.

Key Duties and Responsibilities:

Product Strategy and Oversight

• Own the strategic vision and execution oversight in growing dfcu’s assets and liabilities portfolio business, ensuring income targets are met for Retail A&L products, through leading and evolving the product pricing strategy
• Stay abreast of industry trends, role players, opportunities and challenges to ensure that dfcu’s Retail business is well-positioned to provide competitive and industry-leading products and services
• Drive continuous portfolio innovation, by proactively identifying opportunities for new product development and enhancements
• Own and oversight the execution of the retail products campaigns/activity calendar, aligned with dfcu’s retail strategy, driving both lead and lagging indicators of the portfolio’s profitability
• Continuously engage with customers, both in ad-hoc focus groups and the wider customer satisfaction surveys, identifying product enhancement opportunities, and executing action plans to address emerging gaps
• Drive the ALCO (Asset and Liability Committee) discussions for Retail products, advising on the most appropriate interest rate strategy, covering balance sheet and income impacts
• Monitor and proactively provide feedback to the leadership team on local competitor product activity and pricing, with insights on the implications for dfcu
• Provide direction and input to the marketing teams in the development of product, segment and sector campaigns
• Proactively contribute to the digitisation agenda and relevant transformation initiatives

Business Performance

• Provide clear direction to the product management and retail business unit segment teams, translating and prioritizing product strategy into business performance measures at team and individual level
• Take accountability for the overall achievement of the retail A&L product portfolio performance objectives in the areas of:
• Individual products, segments and sector customer value propositions
• End-to-end A&L product customer experience
• Retail product pricing and tariff reviews
• Retail A&L products cost performance and NIMs
• Product risk and rigour management

Budget accountability

• Partner with Retail Segment Heads and Integrated Channels leadership, to drive execution of the products sales calendar, and provide input into the always-on sales strategies
• Implement performance controls to proactively measure achievement against strategic targets and address changes or non-performance

Product Governance and Controls

• Review monthly tariff adherence and revenue assurance reports, ensuring quick resolution and exceptional approval where needed, for any errors and deviations
• Own the review and approval of all retail product reports and notices to the board, regulators, and customers, as applied, before their distribution
• Collaborate with cross-functional teams including Technology, Finance and Integrated channels, ensuring issues linked with product design, distribution and fulfilment are documented, and resolved within the shortest time possible
• Ensure compliance with both internal and regulatory governance standards, in driving product reviews, enhancements and the implementation of new products and/or product distribution channels

Team Leadership and Development

• Resource, build and develop a motivated and high-performing product management team
• Create and foster a positive, empowering team and work environment with open communication, individual ownership, personal initiative, timely resolution of conflicts and compliance with company standards
• Provide thought leadership to the team and drive a culture of transformation and innovation by encouraging knowledge

Qualifications, Skills and Experience:

• Bachelor’s degree in business, finance, or a related field
• Master’s degree in business, finance, or a related field would be an added advantage
• At least twelve years of experience in a senior product, financial and risk management capacity in a Retail Banking environment
• Experience in management of financial objectives, both value creation and cost reduction, managing ROE targets considering profitability measures and capital
• Proven track record of interpreting and practising integrated product, financial and risk management principles
• A detailed understanding of product offerings in financial services, related and adjacent industries
• Experience in process re-engineering and change management
• Demonstrable understanding of global trends in banking and financial services including emerging developments in fintech and digital transformation of financial services
• A good understanding of legislation related to financial services and channel delivery
• Business Acumen: Defines a clear picture of the future direction of the organization and develops comprehensive execution and implementation plans
• Customer Mindset: Ability to understand customer needs and wants
• Strong Leadership Skills: Has led organizations through significant change, demonstrating leadership through inspiration and influence, developing, and fostering a high-performance environment, balanced with high levels of employee engagement
• Strong Communicator: Applies excellent verbal and written communication skills to translate the vision and strategy into clear priorities and direction, both internally and externally – engages at all levels of the organization and with key stakeholders
• Flawless Integrity and Judgement: Proven champion for the highest workplace integrity, respect, diversity
• , equity and inclusion.

How to Apply:

If you believe you meet the requirements as noted above, please forward your application with a detailed CV including your present position and copies of relevant professional/academic certificates, to the email address indicated below:

Vacanciesbank@dfcugroup.com

Deadline: 18th November 2024. Only short-listed candidates will be contacted.

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