Growth Manager, Merchant Credit at NCBA Group

JOB PURPOSE STATEMENT

LOOP is the flagship product that anchors the LOOP DFS strategy. LOOP is anchored on platform strategy that could scale throughout Africa and be a mobile-based payment and financial services platform connecting consumers and merchants. The platform offers a variety of services, such as mobile money transfers, bill payments, P2P lending, and digital wallets for merchants to receive payments. The platform leverages the growing use of mobile phones and the increasing demand for financial services in Africa to attract and retain customers.

To further scale the platform, LOOP DFS will collaborate with established financial institutions, mobile network operators, and other relevant companies to offer a comprehensive suite of financial service.

The Growth Manager, Merchant Payments lives at the intersection of product monetization, marketing and development. The role holder is responsible for the execution of acquisition and growth strategies that achieve consistent revenue growth and customer loyalty. This role will mainly focus on LOOP merchant products. The role holder is responsible for revenue growth and retention. They must implement a framework for prioritizing Retention specific initiatives. They will lead a team of Retention officers responsible for executing and scaling customer activation and retention campaigns across the customer journey. The main objective will be to increase monthly recurring revenue, optimize customer lifetime value, reduce net dollar churn, and increase net expansion revenue.

KEY ACCOUNTABILITIES (DUTIES AND RESPONSIBILITIES)

Financial (30%)           

• Build the Loop merchant business to generate revenue and positive gross margins as per business plans.
• Develop strategies to increase customer lifetime value through execution of retention strategies through use case adaption, feature adoption and developing strategies to increase consumer engagement through frequency and intensity of use case and feature usage.
• Develop strategies to increase monthly recurring revenue from consumers.
• Manage the cost of goods sold for all product lines.
• Develop strategies for reducing net revenue churn through merchant activation strategies for the merchant product portfolio.
• Responsible for increasing expansion revenue through merchant cross selling of product use cases and LOOP merchant products.
• Responsible for developing monetization strategies that will allow the business to optimize its unit economics and drive positive earnings rates for the consumer product portfolio.
• Responsible for increasing customer life time value for Loop for the merchant product portfolio.
• Responsible for weekly and monthly customer accounting reporting revenue accounting reporting on the merchant product portfolio.

Customer (40%)       

• Develop and implement a robust Retention framework that entails cross-selling models, revenue management plans, customer information management tools, loyalty and rewards programs as well as Customer Value Proposition (CVP) enhancements.
• Build and maintain customer loyalty through an engaging and attractive loyalty and monetization strategies
• Analyze and segment target markets to determine the appropriate Retention initiatives to execute to attain business plans.
• Execution of high-level, strategic business development opportunities based on key growth initiatives
• Execution of a robust Retention framework that entails cross-selling models, revenue management plans, customer information management tools, loyalty and rewards programs as well as Customer Value Proposition (CVP) enhancements.
• Turnaround time standards or benchmarks for the enterprise unit.
• Service Level Agreement (SLA) / Turn-Around Time (TAT)
• Achieve Customer Satisfaction Index (CSI) benchmarks
• Work closely with the marketing and product team to research, understand and review merchant needs. Develop the merchant product roadmap together with the product managers.

Internal business processes (15%)                                   

• Develop and manage robust competitor tracking systems to remain abreast of the market and the players. In line with this, identifying and analyzing new offerings from other banks and FinTech’s in the market place proactively.
• Be an advocate for a continually improving way of working within the unit to drive efficient and impactful engagement and accurate delivery of service.
• Proactively participate in organization projects.
• Audit, Compliance and Risk Management.
• Audit issues closed upon identification, or within the agreed periods, whichever is shorter. Nil repeat findings.
• Implement, review and achieve the Customer satisfaction indexes.
• Implement engines/structure/procedures to support execution of customer growth through their lifetime customer journey.

Learning & growth (15%)                    

• Maintain a high team performance and engagement.
• Nil disruption to business/ loss of business due to lack of appropriate numbers of qualified, available staff within the team.
• Up-to-date and actioned competency assessments and development plans for the team

JOB SPECIFICATIONS

Academic:

• University degree with Second Class Honors or Equivalent
• Relevant professional qualification in Marketing would be an advantage.

Desired work experience:

• 8 years’ work experience in a financial services environment handling Marketing, PR or Business Development responsibilities. Prior experience in the development of Retention programs would be preferred.

JOB COMPETENCIES

Technical Competencies

Customer retention:

• Ability to manage cross-functional processes for the development of customer value propositions and how they are positioned to grow and retain customers.
• Ability to leverage data analytics capability into understanding customer behavior and using the outcomes to inform customer Retention initiatives and product enhancements.
• Fluent in the full spectrum of Customer Value Management (CVM) systems.
• Ability to use imagination and new ideas to solutions. Can formulate new ideas or to adapt or use existing ideas in a new or unexpected way to solve problems.
• Ability to define appropriate measurements for Retention plans and use data analytics to inform effectiveness.
• Product Knowledge: Expert-level knowledge of product(s): (a) in-depth understanding of global product offering, design, application, positioning within segments, pricing, revenue potential: (b) integration to existing product offering: (c) relationship to complementary, related and competing products, etc.
• Financial Acumen: Understands financial concepts and terms, can use them to describe events and can incorporate the same in problem solving and decision making.
• Networking skills: Ability to build strategic networks whilst maintaining confidentiality, tactfully using them to learn and find inspiration to enrich current and future initiatives.

Behavioral Competencies

• Interpersonal Skills: Ability to lead, build and influence motivated teams
• Emotional Intelligence : Knows own strengths and limits; aware of own emotions and the effect they have on others and has the self-control to keep disruptive emotions and impulses in check.
• Social and Cross-cultural Awareness: Interacts with colleagues, customers, and other stakeholders in different social and cultural environments, showing respect and positive regard for them in an ethical and appropriate that are consistently with the values of the organization.
• Agile: Able to change plans, methods, opinions or goals in light of new information, with the readiness to act on opportunities. Highly effective in adapting to differing environments. Inculcates a digital mind-set in the organization, institutionalizing cross-functional collaboration, flattening hierarchies, devolving decision making to smaller teams, and building environments that creatively partnering with external companies to extend necessary capabilities to encourage the generation of new ideas and developing more iterative and rapid ways of doing things.
• Implements incentives and metrics to support such agility.
• Leadership Skills: Team Building and ability to train, develop and mentor staff; Presents new challenges and opportunities to the team to enable them to demonstrate and achieve their full potential; encourages and inspires team learning
• Negotiation Skills: Must be a good negotiator, particularly in changing behaviour and work practices but always achieve a Win/Win outcome
• Innovative: Creative and adaptive to change. A team player who is supportive of other’s ideas and innovations, collaborates in a culture of knowledge-sharing and team learning to strengthen the organization’s work