Consultant: VAF Sales (Retail) - Kopano

  • Standard Bank
  • Bloemfontein, Free State, South Africa
  • Jan 15, 2020
Full Time Banking

Job Description

Job Details

Standard Bank is the largest bank in Africa and our highly visible brand, award-winning service, and strong global presence helps us maintain our market-leading position. We place huge value on the talent of our people to drive our continued success, and to support our plans for growth. We now need a talented and resourceful individual to help us fulfil our business objectives and build customer loyalty.

Job Purpose

  • To focus on portfolio relationship management (e.g. CST, Private Banking Suites, Enterprise Direct and Branches):
- To achieve agreed volumes, pricing, quality and objectives of VAF through effective servicing of CST, Private Banking Suites, Enterprise Direct and Branches, is.
- To service CST, Private Banking Suites, Enterprise Direct and Branches through the use of effective sales management and the marketing of products to achieve agreed targets and driving growth for Personal and Business Banking.
  • To execute vehicle and asset finance (VAF) sales opportunities within agreed / chosen segments and channels, in order to achieve the desired targets and build and manage effective relationships.

    Key Responsibilities/Accountabilities

    New business development

  • Ensures that business potential is identified and developed, and gathers and submits information about competitor activity and market developments
  • Attains new business targets in line with VAF's chosen segments and channels strategies and the agreed customer value propositions.
  • Achieves targets in line with ROEs/agreed margins, by driving and securing quality business priced for risk.
  • Proactively identifies and develops business potential.
  • Gathers and submits information about competitor activity and market developments.
  • Maximises bank profitability and ensures value add to customers through cross-selling, specifically focusing on non-funded income and acquisition opportunities.
  • Acquires new business in line with the VAF Sales strategic objectives and tactical plan so as to achieve specific sales strategies.
  • Prepares and manages a proactive calling programme to CST, Private Banking Suites, Enterprise Direct and Branches, with a view to increasing volumes of business written and the strengthening of relationships.
  • Conducts ongoing and accurate territory analysis to identify business potential and ensure that this forms the basis of service and call programs. This is done on a regular and agreed basis with dealer, supplier and agent.
  • Maximizes bank profitability and ensures value-add to CST, Private Banking Suites, Enterprise Direct, Branches and customers, through cross-selling, specifically focusing on non-funded income and acquisition opportunities.
  • Measures, tracks and manages sales targets and budgets.
  • Gathers and collates information about market conditions and competitor activity in order to fully understand marketing opportunities inform decision making.
  • Develops a joint strategy with the Retail & Business Banking Network to maximise mutual retention opportunities through engagements with the OSS Retentions Team.

    Sales and service management

  • Services and sells to existing and potential customers through the use of effective service and sales management and the marketing of VAF products.
  • Grows new customer base by networking, cold calling and effective sales and service tactics.
  • Drives VAF's insurance products, as well as maximises fees recovered on the portfolio, to the extent that profits are maximised and customers' needs are met.
  • Where necessary, interacts with clients to obtain and analyse financial material, e.g. management accounts; debtors' lists; cash-flow budgets; in terms of agreed covenants.
  • Assists with related queries, where possible, and facilitates when specialist advice is required.
  • Ensures effective presentations and proposals to customers with the aim of growing the portfolio.
  • Ensures successful retention of existing customers in the assigned portfolio by strengthening and expanding relationships. This is achieved by intimately understanding the customer's business requirements and servicing their financial needs with regards to asset financing.
  • Tracks and manages sales targets and budgets.
  • Mines (i.e. investigates and understands) customer's portfolio data to identify opportunities for additional facilities.
  • Maintains ongoing knowledge of portfolio performance to ensure corrective actions can be taken early.
  • Where necessary and in liaison with originator, prepares and motivates Business Application Committee (BAC) and SA Credit Committee (SACC) papers when applicable.
  • Ensures effective use of the Customer1st lead generation system as a lead, query and complaint management tool.
  • Provides customers with feedback on reclassification of Service Requests, outstanding documentation and telephonic resolution feedback according to customer relationship standards.
  • Ensures that all leads are logged correctly in the presence of the customer and ensures cross selling opportunities are identified.
  • Identifies and actions opportunities for cross- and up-sell.
  • Identifies migration opportunities and sells products/services reactively

    Customer retention management

  • Establishes and builds one-on-one relationships with Retail & Business Banking, based on mutual respect, in assigned portfolio by delivering the expected level of service, specifically focusing on a pro-active calling strategy and programme.
• Ensures successful retention of existing customers in the assigned portfolio by strengthening and expanding relationships. This is achieved by actively monitoring the BAQ, ensuring timeous follow up on all approved applications and service delivery in line with both Retail & Business Banking and customer expectations.
• Interacts with Retail & Business Banking to obtain and analyse market statistics with specific reference to agreed levels of penetration and business volumes.
• Interacts and builds relationships with Consultant, VAF Sales Centre in order to provide a seamless solution to the client's asset finance requirements. To assist with related queries where possible.
• Manages the “cost of sales” through evaluation of margins, cost of service and penetration into desired markets.
• Facilitates builds and manages strategic alliances and partnerships within the network for business development and sales support purposes.

Relationship and stakeholder management
• Develops and maintains close business relationships with both internal and external customers and maintains a high standard and quality of business.
• Establishes and builds one-on-one relationships with customers in the assigned portfolio by delivering the expected level of service, specifically focusing on a pro-active contact (calling) programme.
• Ensures effective sales reporting to applicable stakeholders across the channels and segments.
• Ensures effective presentation of proposals to credit committees at all levels, as necessary, to ensure the business and other stakeholders understand and are able to make a decision on key requirements.
• Establishes a sound working relationship with Credit, to ensure prompt turnaround times, accuracy and adherence to deadlines.

Risk and compliance
• Complies with compliance with all relevant legislation:
Financial Intelligence Centre Act (FICA)
Financial Advisory and Intermediary Services Act (FAIS)
Consumer Protection Act (CPA)
National Credit Act (NCA)
Company's Act
Code of Banking Practice.
• Adheres to procedures laid down in the Group Reference Guide (GRG) are adhered to and, where flexibility needs to be exercised, that the necessary dispensation is held.
• Prepares accurate preparation and signing of facilities letters.
• Meets the set administration standards and governance and compliance issues.
• Ensures complete disclosure to clients in terms of accreditation, service fees and commission, in terms of Financial Advisory and Intermediary Services Act (FAIS) by actively engaging with the F&I staff to discuss requirements and adherence with Bank Policy.
• Ensure proper record keeping in terms of Financial Advisory and Intermediary Services Act as well as the Financial Intelligence Centre Act requirements.

Preferred Qualification and Experience

Qualification
Matric (with Accounting and/or Mathematics)
A financial qualification is an advantage (diploma or degree)
Drivers License
Preferred: prior training in relationship sales and financial management

Experience
• 3 -5 years' work experience in a business related role preferably within banking or financial services / finance preferred.
• 3-5 years' in a highly pressurised sales and/or relationship management environment.
• Experience in a customer facing environment.

Knowledge/Technical Skills/Expertise

• Knowledge of banking and credit practices, principles, credit applications, securities and balance sheet requirements
• Knowledge of current legislation, (e.g., Companies Act, Consumer Protection Act, Financial Advisory and Intermediary Services Act (FAIS) and the Financial Intelligence Centre Act (FICA).
• Industry sector knowledge.
• Knowledge of credit principles and practices, including an understanding of credit application, securities and balance sheet requirements
• Knowledge of the various asset classes, industries and sectors to ensure informed decision making, effective applications and solutions provided