Job Title: Head, Sales
Job ID: 12626
Location: Lagos, Nigeria
Division: Business Banking
Position Category: Sales
Employment Type: Full Time – Permanent
Employer: Stanbic IBTC Bank Plc (part of Standard Bank Group)
Position Description:
• Functional Head with responsibility for the overall delivery of the Sales Teams across the Bank.
• Coordinator of, with overall accountability for, total sales delivery across all segments and channels by defining, implementing and supporting sales strategies aligned to those of Personal and Business Banking.
• Ensuring alignment of sales strategies, activities and tactics to business objectives and to local market potential and expectations across all segments, channels and product houses.
• Ensure that PBB strategic directive is translated into feasible sales and sales support initiatives and marketing tactics for the local markets.
• Ensure the effective integration and coordination of all sales units in the Bank into a cohesive sales platform.
Key responsibilities:
Sales attraction and management;
• Formulate and implement sales attraction strategies that will facilitate the achievement of sales objectives within different segments of the local market.
• Management of all the direct, acquisition sales functions in order to put profitable business on the books through the acquisition and retention of new-to-bank customers in the appropriate segments.
• Coordinate and drive sales activities across all products and channels to effectively improve and optimise revenue growth, expand business and improve sales productivity.
• Coordinate and integrate all sales units, including those managed by product houses, into an effective and cohesive sales force.
• Ensure the effective leveraging of business opportunities through personal and business interplay.
• Monitor PBB sales performance and identify areas of concern. Coordinate the development and implementation of corrective tactics to address underperformance.
• Ensure effective lead generation, management and fulfilment across all channels and business partners to enhance customer value extraction.
• Overall responsibility for the execution of all sales initiatives across the Bank.
• Identify new opportunities for the Bank to engage with all stakeholders that will influence and increase business at all levels
• Research and analyse the local market to understand key business drivers, market changes and influences, customer behaviour, opportunities, and competitor activity. Develop and implement appropriate bank-wide sales activities based on research findings.
• Identify strengths and weaknesses in the sales operation and ensure that suitable actions are taken to address concerns and maximise strengths.
• Coordinate the process of ensuring the creation of adequate sales capacity and optimisation of sales resources.
• To drive reward and recognition programs in the Business Unit through the appropriate line management functions.
• Overall responsibility for ensuring the development, implementation and execution of marketing initiatives that support the business objectives.
• Responsibility as final arbiter of channel conflict.
• Ensure a consistent, encompassing customer experience and growing our new-to-bank customer base through effective and efficient on-boarding and referral process.
• Provide feedback as efficiently as possible to the network and perform the role of clearing house. Provide feedback to the appropriate head office entities regarding customer and product in order to enhance/ improve offerings.
Legislative compliance;
• Ensure respective acquisition channels conduct needs analyses to identify customer needs effectively when opening new accounts or offering appropriate products,
• Ensure proper record keeping
Risk management;
• Identify and manage business risks from both a customer and bank perspective by ensuring that appropriate control mechanisms are in place to minimise risk exposure.
Cost and business management;
• Overall responsibility for delivery against the sales budget.
• Monitor and manage sales performance, ensuring the sales tactics are monitored and adjusted as needed to remain competitive and to secure increasing market share. This includes leveraging the market and available resources to maximise profitability.
• Ensure the prudent management of corporate assets.
Relationship management;
• Develop and maintain healthy working relationships with the management of branch and business banking (regional managers, suite heads, business banking managers, etc) to ensure a cooperative, collective management of an effective sales force.
• Maintain a visible and active presence in the local market to establish new relationships and support existing relationships in order to enhance acquisition of new-to-bank customers.
• Establish and maintain an internal relationship network with key stakeholders in Branch & Business Banking, Marketing, Private Banking, VAF, Credit and CIB, as well as with independent financial agents to market product and service offerings.
• Build a professional image in the network and ensure that synergies and teamwork takes place in order to optimise sales delivery.
• Act as point of entry for other channels regarding sales.
• Foster a team approach by actively building strong working relationships with management and staff.
• Support the change manager regarding any change initiatives to be implemented to reduce disruption to normal business activities.
People management;
• Ensure that clear sales targets and goals are set for all sales staff.
• Ensure that all sales resources are profiled and recruited accordingly.
• Facilitate the alignment of all sales structures into a cohesive and complimentary sales force.
• Foster equity within sales teams, actively ensuring that transformation targets are met.
• Monitor and manage the performance, development and career planning of acquisition staff.
• Provide guidance and coaching to staff regarding sales activities
• Implement appropriate sales training programmes in conjunction with stakeholders.
• Develop and implement an effective reward and recognition system that speaks to individual and team needs.
Key performance measure;
• Achievement of sales targets across segments and channels.
• Increased acquisition channel profitability due to sales targets being met.
• Market penetration and growth in market share due to business opportunities being developed / expanded.
• Effective sales tracking and management.
• Visible image in the market.
• Optimised sales channels.
• Continuous improvement in cost to income ratios of acquisition channel.
• Risks identified and contained through effective control mechanisms and new business routines.
• Transformation targets achieved.
• Acquisition staff profiling, effectiveness and motivation.
Internal and external relationships;
• Relationships with regional management, business banking management and regional banking management are critical in performing the role in the cooperative, coordinating and facilitating manner intended.
• Relationships with Zonall Business and Personal Managers are key in ensuring effective integration of sales channels.
• Relationship network with key stakeholders in Personal & Business Banking product and marketing groups, Sales, Private Banking, and CIB, as well as with independent financial agents to market product and service offerings.
• Distribution network and customer channels team.
Required Skills and Qualifications:
Knowledge & Technical competencies;
• Knowledge of business economics and financial management principles and practice.
• Strong financial acumen / understanding of practical financial management.
• Knowledge of sales and marketing theory and principles.
• Knowledge of products across segments.
• Knowledge and understanding of market segmentation value propositions and customer profiles per micro–market.
• Knowledge of distribution channels available and how these can be leveraged.
• Comprehensive knowledge and understanding of the back office sales administration systems, procedures and processes.
• Knowledge of sales delivery benchmarks and standards.
• Knowledge of local competitor tactics, distribution channels and product offerings.
• Thorough knowledge and understanding of the credit scoring process and lending criteria.
• Thorough knowledge and understanding of the Code of Banking Practice and its application in a sales context.
Experience;
• 8 – 10 Years experience in a Personal & Business Banking environment.
• Proven sales track record in the financial services industry.
• Experience in leading a large diverse sales team
Required Competencies:
Personal competencies;
• Strong leadership capability.
• Interpersonal sensitivity – demonstrating competence in building relationships in situations that are emotionally charged due to differing expectations.
• Integrity – being honest and ethical
• Initiative – willingness to take on responsibilities and challenges.
• Persistence in the face of obstacles.
• Resilience – having the ability to bounce back from setbacks.
• Attention to detail – being careful about detail and thorough in completing work tasks.
• Analytical thinking – analysing information and using logic to address work related issues and problems.
• Independence – developing one's own way of doing things, guiding oneself with little or no supervision and depending on oneself to get things done.
• Making good use of the information gained through considering all points of view as well as the relative costs and benefits of the potential actions to facilitate making the right decisions
• Socially confident/ relationship builder: Self-assured, enjoys meeting people, creates a good impression in social situations, is good with words and knows what to say (even when communicating disagreeable information).
• Persuasive: Enjoys motivating, negotiating and changing the opinions of others, is convincing with arguments.
• Communicates with impact – effectively applies verbal, non-verbal and written communication methods to achieve desired results. Presents ideas effectively to individuals or groups.
• Monitors project progress to make improvements or to take corrective action through meticulous attention to detail.
• Strong customer service orientation – always looking at initiatives from the customer's point of view.
• Ability to be "heard" when positioning a particular point of view and to persuade others to accept this perspective.
• People management skills, including teambuilding, motivation, team goal planning and the ability to use team expertise to full advantage.
Problem solving, planning and decision making:
Problem solving;
• Develop and execute sales plans.
• Execute on customer value propositions.
• Provides direction for Acquisition Channels in terms of turning strategies into tactical plans that will optimize performance and profitability.
• There is a continuous requirement to critically examine strategic direction to weigh up the impact of strategy on the operational aspects of the business.
• Understands the interdependencies between people, systems, business and operational risks, as well as products, pricing, place to implement and leverage feasible operating strategies and tactics for increased contribution and profitability.
• Problem analysis and diagnosis are key requirements of the role as performance issues need to be continually addressed in order to maximize / leverage the strengths of the various sales teams in a competitive environment.
• Manage competing and sometimes conflicting interests in order to achieve strategic business objectives.
• Analyze and evaluate best practice research and apply learnings to resolve sales challenges.
• Continuously search for new approaches within and external to the organization that will drive the business forward.
• Able to supply solutions that span the inherent complexity, scope and magnitude of financial problems and risk.
• Arbitrate / resolve difficult customer complaints and credit issues / disputes.
Planning;
• The planning horizon is short to medium term in terms of establishing and implementing sales related management efficiencies, platforms and best practices that will improve operating practices and performance immediately and in the future.
• Required to develop sales strategies and to translate same into a tactical plan for identifying and attracting new and expanding on existing business opportunities within the different customer segments.
• Develop sales plans that are relevant to the local business / market context and in line with the various customer value propositions.
• Operate within the fluidity of the market, adjusting tactics according to local market needs.
Decision making;
• Participates in strategic decision making the Business Unit levels.
• Required to interpret, analyze, evaluate and adjust tactics to build, sustain and leverage the Business Unit's capacity to do profitable business within the local market.
• Influences Product / Customer Strategy regarding sales related initiatives such as pricing and target feedback.
• Adapt readily to changes in systems, procedures, new products, etc.
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