Stanbic Bank Tanzania Limited is a full service commercial bank which specializes in providing facilities and services to public and private sector corporations, diplomatic missions and international organizations. Stanbic Bank Tanzania is a member of the Standard Bank Group of South Africa and was established in May 1995.
- Free CV Writing and Download, Cover/Job Application Letters, Interview Questions and It's Best Answers plus Examples. Click Here
Head, Trade Finance and Services
Job ID: 54571
Job Sector: Banking
Region/State/Province/District: Dar es Salaam Region
Location: Dar es Salaam
Corporate & Investment Banking
Lead the Trade business for the country, ensuring that the Group Trade Strategy is operationalised appropriately in the country and in line with regional execution. Manage the country trade value chain to maximise revenue and profitability for the Group.
Develop and implement a comprehensive Trade Finance strategy and plan to enable SBT to deliver the desired growth targets and is accountable for the Trade Finance product set as well as the notional Trade income statement across CIB and PBB
Harness and maximize existing and new business opportunities for Trade Finance for Stanbic Tanzania
Strategic Business Leadership
- Report to the Head of TPS with a Bank wide accountability (i.e. own the Total SBT trade finance notional income statement and balance sheet with PBB and CIB reporting)
- Drive and oversee Trade Finance sales across the entire SBT network by managing the Trade value chain to maximise revenues and profitability in line with business objectives.
- Accountable for the Bank wide Trade strategy formulation and execution
- Oversees the bank wide trade finance product management including but not limited to Risk Management, Value chain optimisation, Quality assurance, Credit Risk Management and Sales
- Collaborate with BU Heads, Regional Managers, Commercial Banking Suite Heads, Branch Managers, Relationship Managers, Client Coverage, Global Markets, TPS and Business Banking to achieve Trade Finance sales targets
- Oversee the processing of Trade Finance applications across the bank by liaising with Credit and through the Trade Finance sales and Credit Support team.
- Actively participate in industry bodies and drive / lobby shifts in policy frameworks to build the competitiveness of Tanzania as a trade destination
- Respond to market information to ensure that SBT gains market share YoY
- Provide input into marketing plans and may be required to feature in trade related special events (marketing related e.g. – export events etc.) to support the product awareness and sales goals.
- Represent Trade on all product related matters at different forums within and beyond Standard Bank.
- Identify alliances and partnerships through which to extend the bank’s capability to innovate, incubate and market innovative products and solutions.
- Lead, guide and direct special projects and assignments as directed by the executive
- Achievement of economic and balance sheet targets for Trade
- Increased growth in the market share and profitability of the Trade portfolio
- Trade product proposition successfully positioned in the market
- Successful delivery of projects / programmes for key initiative
Drive trade revenue, ROE and client franchise growth
- Take accountability for and ensure the delivery of Trade revenues and net earnings for the country; Revenue and earnings must match or exceed budget;
- Achieve target RoE’s and risk adjusted returns on regulated capital;
- Institutionalize the Country Trade Income statement, including socialization and roll-out to CIB and PBB (where relevant);
- Sponsor key country clients;
- Evolve and deliver the country 4 year strategy and operating plan for trade;
- Champion strategic Trade business initiatives in country
- Percentage achievement of revenue budget
- Percentage achievement of ROE
- Percentage client franchise growth
-Accountable for annual financial budgets, including profit and loss, operating and expenditure budgets for Trade.
- Manage expenses of the area within budget.
- Establish and monitor operating expenditure budget control measures for the team, ensuring that revenue and expenditure is accounted for in a systematic manner.
-Ensure that the operational affairs of Trade are administered effectively.
-Ensure that the trade portfolio is compliant to local and international regulations
- Operating expenses within budget
- Risk identified and contained through effective control mechanisms and new business routines as well as positive findings of all external and internal audit reports
- Satisfactory internal and external audit rating
- Regulatory compliance
- Manage the income statement for Trade and Trade Finance products.
- Drive economic profit and balance sheet growth by ensuring that products are profitable and meets customer needs.
- Understand business requirements and put together a 2-year plan in terms of growing the business, executing, tracking and leveraging revenue and cost items.
- Ensure financial objectives are met by overseeing forecasting requirements; preparing a consolidated annual budget; analysing overall variances; and direct corrective actions within the team.
- Analyse reasons for variances (e.g., is it temporary or permanent and how to make up for it) and which levers to pull in order to ensure that budget / Return on Equity (RE) is achieved. Determine what changes to implement in order to address variances.
- Provide input into the budget process and the sales targets (in consultation with Channel).
- Monitor activities and costs related to utilisation of resources required to meet operational requirements.
- Continuously review performance of the area against scorecards, targets and processes to address any gaps.
- Increased portfolio size
- Achievement of budgets and RE
- Increased market share
- Maintains a visible and active presence across all the businesses to establish and support new and existing relationship platforms from which to support the product team to rollout financial solutions, which are able to attract new business and grow market share.
- Build strong relationships with key stakeholders within and outside the bank, to ensure synergies and teamwork needed to optimise revenue growth and profitability.
- Ensure synergy across all relevant functions in PBB & CIB which is vital for the successful co-ordination and integration of product development and management activities.
- Develop and be directly accountable for a team (both direct reportees and a wider virtual team), that will help achieve the Trade function objectives;
- Partner and work with the different in-country teams in setting clear and measurable deliverables (for e.g., the sales teams across the different client segments for the universal bank);
- Work with and through SBG stakeholders in driving the right capabilities and succession bench-strength to enable meeting of present and future business requirements;
- Manage in-country trade teams in a manner that achieves best-in-class people management outputs; Ensure that talent management principles and the appropriate development initiatives are executed for the country trade function;
- Quality internal and external relationships (e.g., with customers, internal and external stakeholders)
Mitigate and manage Trade business risks
- Implement the trade product framework in accordance with country, regional and centre product standards; Monitor performance and execution of the framework, by creating operational and product risk metrics to provide an effective feedback loop to the Group and Regional Trade Heads and appropriate country MANCOs;
- Accountable for the management of the country’s Trade operational and compliance risk; Work with in-country teams (across client segments and divisions) in overseeing the embedding of risk management practices and leverage its benefits to enhance business performance for Trade;
- Take accountability for, and proactively manage country credit impairments across GDP and SDP in line with the relevant accounting and other regulatory standards;
- Review and consider, in collaboration with Internal and external audit partners, the high-risk areas of the country function in order to give assurance to stakeholders that good governance practices are in place and internal controls are exercised;
- Fulfil a governance role in leading (where applicable) and serving as a member of key country governance committees;
Adopt the client experience value chain and drive the right outcome for Trade
- Ensure stability in the Trade business across CIB and PBB by driving appropriate segmentation and revenue generation through client delivery value chain;
- Direct client engagements towards a “Client Ecosystem” theme, taking into consideration overall CIB and PBB opportunities;
- Contribute to the overall Trade function’s financial performance by guiding country and centre teams in understanding and leveraging on opportunities for efficiencies and cooperation amongst universal bank functions;
- Articulate a Trade operating model that is client led and deliver on the Trade function business objectives for the country;
- Drive market and thought leadership in Trade Services and Trade Finance through people (internally, across client segments in CIB and PBB; and externally to the industry and the client fraternity in the country);
- Develop a 3 to 5-year country roadmap for Trade Finance and Services; for the universal trade utility for the country;
- Provide the appropriate framework and work with different in-country leadership teams in enabling the alignment of BU initiatives to facilitate the meeting of cross functional trade client needs. See through that clients are effectively serviced in line with the SBG Client Centricity philosophy;
- Deliver on the country’s Trade component towards the Modernization/Digitization of Transactional Banking for SBT/Standard Bank;
- Accountable for the evolution and implementation of the operational and technology end state in country; and delivery of the associated cost and productivity efficiencies from the same;
- Represent and promote the SBT/SBG brand and values to local market, clients, government, employees, regulatory bodies and related industries;
- Evolve country specific Trade competitive service levels;
- Monitor the external business and market environment and provide thought leadership to the Trade Group and Regional Heads as well as the Universal Bank country leadership teams in developing and amending strategic plans where required, to meet client and shareholder needs;
- Provide leadership and sets appropriate context and establish prescribed limits for direct reports
- Accountable for ensuring the effective implementation of Bank initiatives and programs through the establishment of appropriate context and setting of direction for direct reports and matrix reports by providing relevant information, establishing goals, and setting limits with the context and prescribed limits of the business head.
- Responsible for the recruitment, development and retention of relevant skills in order to meet the business needs.
- Ensure the effective selection of staff by matching the skills and competencies to the requirements of the job.
- Build organisational capabilities through evaluating likely future requirements and ensuring that individuals are provided with the best possible development opportunities in line with these.
- Create an environment in which learning, and development are emphasised and valued.
- Monitor and manage 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.
- Ensure that disciplinary action and grievances are addressed and aligned to the SBT/Standard Bank policies and procedures.
- Well-articulated goals for direct reports
- Percentage staff productivity achieved
- Talent retention and growth in the trade space
- Trade Capability building across the entire Stanbic business
- First Degree in Business, Accounting, Finance or related field
- Post-graduate degree will be an added advantage
- Experience in the financial services industry of not less than 10 years - Generic across the bank, relationship management and / or trade sales experience. Extensive knowledge and expertise in financial solutions within the financial services industry, including Trade Finance and Foreign Exchange. Not less than 10 years of postgraduate experience with minimum 7 years in managerial positions in Commercial Banking and sales positions in financial Services Industry in Tanzania
experience in developing and managing Transactional and Trade Products
as well as managing an income statement and balance sheet, revenue
drivers and portfolio management within the financial services industry.
Experience Accountable for managing a credit risk portfolio; with
desirable outcomes in Tanzania