Senior Product Manager: Value-Added Services

Empowering Africa’S Tomorrow, Together…One Story At A Time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

The Senior Product Manager oversees the full lifecycle and commercial performance of value-added products, driving strategic growth and sustainable revenue. They ensure products are market-ready, compliant, and optimized for user value. The role requires cross-functional collaboration with teams across finance, tech, marketing, legal, and operations to deliver impactful product outcomes.

Job Description

The Product Manager is responsible for managing the end-to-end lifecycle of a single product or portfolio of products. As part of the growth agenda, this includes the management of the product’s overall commercial performance (Profit & Loss Statement), the product strategy & roadmap together with the associated revenue funnel required to grow the product lines sustainably into the future. As part of the run agenda it is the product manager’s responsibility to ensure that product’s on offer in the market are functional, compliant, risks are managed and products are promoted to maximise penetration and value extraction from the product user base. This role will act as the primary liaison between various enablement functions such as pricing, finance, digital, technology, product development, ECM/Portfolio management, operations, marketing, change, partners/vendors, regulatory, risk, legal and compliance teams.

Key Responsibilities:

1. Product Strategy/ Roadmap Development & Commercialization

• Undertake research on new products, conduct competitor benchmarks, monitor global/local market trends, collaborate with partners to identify product gaps and/or opportunities
• Continuously evaluate emerging industry trends, competitor ecosystems, and potential new collaborations to future-proof the bank’s portfolio.
• Develop the product strategic vision and translate the strategy into new products and/or initiatives on the product roadmap
• Commercialize the products and/or initiatives on the product roadmap
• Maintain a revenue funnel/ pipeline for the entire product portfolio that informs execution/ Book of work prioritization as part of the short and medium-term planning cycles (STP & MTP)

Product Change Execution

• Drive the scheduling, development and launch of new products, and initiatives by working closely with product development, digital, technology, change teams, partners/vendors ensuring that these are managed and delivered on time
• Feed specialized product design and specification requirements into the development process and work closely with analysts and designers to ensure that it has been catered for in the business requirements document and user journey’s
• Lead the NAPA (New and Amended Product Approval) process ensuring that all risk, legal, compliance, fin-crime and regulatory requirements are met
• Develop the Go-to market operationalization and commercialization plan by working in collaboration with pricing, ECM/ campaigns, marketing, communications, front-line and operations teams

Product & Commercial Management

• Manage the product commercial performance (P&L) – cost and revenue and associated Key Value Drivers (KVDs) across the product lifecycle in support of the business's financial ambitions
• Report on the performance of products against the KVDs as part of business review engagements
• Set, interlock and drive KVD / Revenue targets with sales teams and the front-line
• Ensure that all products in market work (i.e. are fully functional across the front and back-end) and are fulfilling the needs of customers
• Constantly seek ways to enhance and optimize product performance by identifying and remediating operational, system, GL breaks, revenue leakages and managing customer complaints as part of voice of customer insights monitoring
• Develop and ensure the implementation of business processes required to support the effective running of the products
• Drive product awareness, maximise penetration and value extraction from the existing product user base in addition to growing the active user base by working in close collaboration with ECM, portfolio management, marketing and communications teams

Partnerships Management

• Identify, assess, and onboard new partners across the product ecosystem, including service providers, technology platforms, and distribution channels to expand the product offering.
• Establish clear partnership objectives, commercial models, and governance frameworks to ensure alignment with business strategy and long-term value creation.
• Maintain strong relationships with existing partners through regular performance reviews, joint business planning, and continuous service optimization to drive mutual growth.
• Develop and negotiate commercial agreements that maximize revenue potential, ensure cost efficiency, and align with the bank’s strategic objectives.
• Monitor partner performance through data-driven insights, identifying opportunities for enhancement, issue resolution, and value extraction from the ecosystem.

Risk Management

• Ensure that products and services are designed and implemented in line with internal risk standards, regulation, Treat Customer Fairly principles to ensure best in class management of Conduct Risk
• Identify strategic and operational product risks, raise necessary risk events and ensure implementation of required risk mitigation strategies working closely with first and second line risk teams
• Ensure a robust third-party risk management framework to assess, monitor, and mitigate risks associated with partners, including operational, financial, regulatory, cybersecurity, and reputational risks.

Skills & Qualifications:

• Core Competencies:

• Strong communication and interpersonal skills to manage relationships with stakeholders at all levels.
• Ability to translate business needs into actionable product features and requirements.
• Experience working in Agile product development environments.
• Strong problem-solving and analytical skills, with the ability to think strategically and make data-driven decisions.
• Customer-centric mindset with a focus on delivering valuable products.

• Educational Background:

• Bachelor's degree in Business, Finance, Information Technology, or a related field.

• Industry Experience:

• 3-5 years of experience in product management, preferably within the banking or financial services industry.
• Experience in developing, managing, and scaling VAS offerings, such as airtime and data top-ups, bill payments, digital vouchers, loyalty programs, insurance add-ons, and embedded finance solutions.
• Strong commercial and partnership management expertise, working with merchants, telcos, content providers, and third-party service providers to expand the VAS ecosystem and drive adoption.
• Understanding of customer behavior, monetization strategies, and ecosystem dynamics for VAS products, ensuring high engagement, retention, and revenue growth through embedded solutions and cross-sell opportunities.

• Technical Skills:

• Understanding of banking technology stacks and digital banking platforms.
• Familiarity with Agile tools (e.g., Jira, Trello) and project management software.
• Basic knowledge of data analysis tools (e.g., Excel,) to track product performance.

Personal Attributes:

• Strategic Thinker: Able to define a vision and align it with business goals while keeping an eye on customer needs.
• Collaborative: Works well with a range of stakeholders and teams, fostering cooperation and open communication.
• Detail-Oriented: Pays close attention to detail, ensuring product features are delivered with high quality and consistency.
• Adaptable: Can adjust to changing priorities and is comfortable working in a fast-paced, dynamic environment.

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised