Standard Bank: Account Executive
Standard Bank: Account Executive
Account Executive Job Purpose:
- To grow and retain a portfolio of high value Commercial Segment relationships by performing a proactive, mobile, value adding financial partnership role.
- To ensure that close personal attention is given to provide a full array of customised financial solutions tailored to meet the growth needs and potential of the customers within the portfolio.
- To provide effective relationship management aimed at optimising customer profitability and value to the Bank.
- To ensure customer satisfaction across allocated portfolio of customers.
Relationship and portfolio management:
- Ensures deep understanding of Customer’s business through regular interaction with client at their place of business.
- Employs the use of client value chain analysis to understand customer needs and deploy banking solutions to meet those needs.
- Utilises the Banks Customer Relationship Management (CRM) tool to ensure accurate and updated customer information and effectively manage the relationship. Develops and implements a client-calling schedule to visit all clients in the portfolio.
- Identifies opportunities to migrate clients in line with customer value proposition.
- Complete all compliance training within laid down timelines.
- Ensures that customer service expectations are met/ exceeded.
- Provides a central advisory role to the client.
- Ensures effective query management and client feedback.
- Monitors and manages (in collaboration with internal business partners) the delivery of service in line with service level agreements, standards and turnaround times within the Centre.
- Ensures the implementation of Business Banking Value proposition.
- Performs a proactive liaison role, at appropriate levels, between relevant stakeholders e.g. Credit, Operational Shared Services (OSS) and other relevant business partners, to ensure customer service expectations are fully met.
Transaction Led Customer Acquisition:
- Formulates, drives, measures and manages the implementation of a sales performance strategy for the portfolio to grow new business and share of wallet across the portfolios managed.
- Leverages sales growth tactics and targets in collaboration with business partners in the area e.g., Local markets, Prestige and Private Banking, Vehicle and Asset Finance; Electronic Banking; SBFC; SBIB and any other Business Partners.
- Responsible for driving personal/business interplay in partnership with Private and other Personal Market segments.
- Responsible for achieving sales budgets as set by Business Centre.
- Develops and implements sales best practices in support of the Business Banking value proposition and customer expectations.
- Manages opportunity and pipeline management.
- Drives implementation of value-chain analysis to ensure better understanding of sales opportunities within client base.
- Provides guidance pertaining to the promotion, selling and structuring of a wide and diverse range of financial solutions customised to best meet the financial needs of high value Business Banking Clients.
- Ensures support for provincial and national sales campaigns.
- Ensures the implementation of the Black Small and Medium Enterprises (BSME) value proposition.
- Ensures the acquisition and retention of Tutuwa Small and Medium Enterprise beneficiaries.
- Ensures effective use of Customer1stlead generation system as a lead, queries and complaints management tool.
- Drives the usage of the Customer1st system within the Province.
- Drives the required behaviours to support the Customer1st system within the Province.
- Achievement of financial budgets through optimal growth of balances, margin management and revenue streams.
- Manages profit margins on portfolio through appropriate pricing within policy guidelines. Recommends pricing concessions where appropriate.
- Ensures recovery of all revenue.
- Plans and implements annual credit reviews for allocated portfolio.
- Structures the customised credit loan facility options and parameters.
- Explains credit procedures, qualifying criteria and expected turnaround times to clients in order to ensure that their expectations are being managed.
- Motivates and processes credit applications.
- Notifies customers regarding the approval/ decline, including reasons thereof, of credit loan facilities.
- Explores alternative solutions in the event of declines from Credit.
- Monitors daily referrals to ensure that client facilities are managed within the set risk parameters.
- Exercises discretion regarding account conduct based on a close knowledge and understanding of client activities.
- Proactively manages client’s credit exposure and collateral held to contain risk.
- Ensures the submission of high quality credit applications to enable business and credit stakeholders to appropriately assess the risk to the Bank
- Keeps abreast of external factors influencing the client’s exposure to risk.
Risk and Compliance:
- Ensures compliance with general banking and credit policies and procedures.
- Supports the implementation of the Financial Intelligence Centre Act (FICA) to ensure adherence to record keeping requirements
- Ensures compliance to all applicable legislative requirements such as the National Credit Act, Consumer Protect Act etc.
- Ensures adherence to all regulatory and compliance risk requirements
- Manage the Account Analyst to ensure that work standards and quality work output targets are set, achieved and maintained.
- Manage the performance contribution of support staff.
- Identifying strengths and development areas and ensuring that support staff receives the requisite learning and skills development interventions.
- Plays an active role in the recruitment process, development and retention of relevant skills in order to meet the business needs.
- Ensures the effective selection of staff by matching the skills and competencies to the requirements of the job.
- Ensures skills assessments and competency-based training takes place as and when required.
- Drive 100% compliance training for all staff.
- Ensures that appropriate skills transfer initiatives are implemented.
- Creates an environment in which learning and development are emphasised and valued.
- Takes personal responsibility for coaching and mentoring others.
- Promotes a culture where the values of the Bank are seen to be ‘alive’
- Ensures the implementation of the leadership promise and employee engagement programme.
- Encourages team members to express their views, resolves issues raised by the team, escalates issues if required, and provides feedback to teams on an ongoing basis.
- Develops and maintains an open communication channel with direct reports and supports staff to foster greater co-operation and teamwork.
- Monitors and manages the performance and development of staff within the area. This includes regular one-on-one feedback sessions, conducting mid-year and final performance appraisals, as well as the moderation and relative distribution of all appraisals for the team.
- Ensures staff are appropriately and consistently rewarded and recognised for their achievements and outputs.
- Ensures that disciplinary action and grievances are addressed and aligned to the Standard Bank policies and procedures.
Key Performance Measures:
- Achieve Sales targets
- Achievement of Net Promoter Score (NPS) targets
- Achieves financial targets as per Performance Contract which will include profitability of the Portfolio measured by growth in Operating Income.
- Engaged and committed people
- Satisfactory risk and compliance audit results
- Effective change management and adoption of projects and initiatives.
- Achievement of all migration targets.
- Ensure usage of the Customer1st system
Preferred Qualification and Experience:
- Business Related Degree
- Previous managerial experience (+/- 3 years) as a Business Manager, Account Manager, or any other related role dealing with high value commercial clients is essential. This experience provides a general understanding of how Business Banking and commercial businesses operate, as well as understanding the business risks, industry risks and financial requirements pertaining to the commercial market.
Significant experience in preparing and motivating Credit applications
- Strong numerical skills and financial acumen to analyse evaluate and identify trends in complex consolidated financial statements, balance sheets and ratios.
- A sound understanding of cash flow cycles pertaining to the industry being analysed.
- A good knowledge of financial spreadsheet applications (e.g. Excel) to capture and analyse financial data.
- Good knowledge of general banking products practices and procedures.
- A good understanding of the principles and practices of business economics and the current business economic environment.
- A good current knowledge of different industry sectors and sector risk profiles/ trends
- A thorough knowledge of multi-level products available to business banking customers (features and benefits) and pricing structures.
- A good knowledge of financial investment options, vehicle and asset finance and electronic banking options for lead generation purposes.
- A good knowledge of competitor offerings and structures.
- A sound knowledge and understanding of Credit principles and practices, including an understanding of credit application, collateral and balance sheet requirements.
- A strong working knowledge of the terms and conditions of multiple legal entities (companies, close corporations, sole proprietorships etc.) in the commercial market and the legislative restrictions and requirements governing these from a financial services perspective.
- Sound understanding of current taxation laws as they apply to the portfolio of customers.
- A good knowledge of the Companies and Intellectual Properties Registration Act (CIPRA) for correct documentation/ mandate preparation purposes.
- Knowledge of the Financial Advisory and Intermediary Services Act.
- Negotiation skills.
- Good knowledge of technical portfolio management systems e.g. E cubed
- A good working knowledge of administration processes and procedures pertaining to Business Banking transactions.
- Knowledge of how to use the Group Reference Guide to access/ look up relevant information.
- A good knowledge of administration processes and procedures pertaining to Business Banking transactions.