Head Digital Wallet

Job Summary

Reporting to the Head of Digital Banking, the holder will drive the strategy, execution and growth of the digital wallet offered by the bank. The holder’s primary focus will be creating and executing the wallet growth strategy, enhancing, delivering & management of customer centric digital products. Further, they will manage the execution of the wallet growth strategy through the leadership of a team that carries various execution functions. Holder will play the core task of leading and managing the team, ensuring the control environment is satisfactory, overseeing execution, measuring team performance, coordinating with third party stakeholders including customers, colleagues, third party vendors, and the center product team to deliver the necessary aspects of intangible and tangible core competencies required to grow market share.

Job Description

Key accountabilities

Digital Wallet Strategy and Execution 40%

• Develop the digital wallet growth strategy and resulting action plans that are responsive to customer feedback and the competitive landscape.
• Achieve the digital wallet KPIs by overseeing and driving the team’s execution of growth and commercialization initiatives and activities.
• Oversee operations to ensure that all governance and control requirements are adhered to and that the wallet is operating in a satisfactory control environment.
• Monitor and review business performance and apply intervention strategies to ensure achievement of business growth.
• Build the required strategic partnerships to deliver bespoke innovative solutions for our customers.
• Oversee the creation of a robust growth and commercialization 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.
• Uphold the banks commitment on delivering customer service timely and with quality to develop a reputation of a wallet with the best customer care in the market.

Stakeholder Management 30%

• Liaise with the customers, strategic partners and the development teams to create unique selling propositions that will help the wallet gain market share.
• Coordinate the wallet cross functional teams (with members from different business units) to enable collaboration and the effective implementation of the wallet strategy.
• Work with the marketing team to implement the go-to-market strategy using the agreed marketing mix and communication mix.
• Consistently update internal stakeholders, senior leadership and external stakeholders with updates for noting.
• Liaise and address all requests from Bank of Uganda through the regulatory affairs team.
• Work with the corporate banking teams to deliver a value chain, ecosystem approach to the growth of the wallet.

People Management 20%

• Build and grow high capability digital wallet teams, demonstrate success in hiring, coaching, developing, and enabling a digital wallet team on a B2C, B2B wallet user growth.
• Leading a team of digital wallet sales and fulfilment officers, designers, working and collaborating with customers, anchors, vendors, partners, commercial, financial, legal compliance, marketing, and finance teams to ensure the wallet achieves its goals and objectives.

Regulatory and control environment 10%

• Assure effective governance of the unit’s practices in line with the Group policies and service standards.
• Uphold operational excellence to meet the Audit and Enterprise risk framework of the Group.

Preferred Experience

• At least 8 years’ work experience, 3 of which should have been in a similar capacity with a proven track record.
• 5 years of commercial experience, leading teams, creating strategies for business growth and managing cross function teams.
• Experience driving the implementation of go-to-market strategy, and monitoring execution through others.
• Business competencies including business and commercial acumen, driving cross function teams, customer experience, execution, lead management, strategic partnership building, stakeholder management, leadership.
• In-depth understanding of Financial Technology (Fintech) and mobile wallet trends.
• Maintain up to date knowledge of competitor and local market activity

Technical Competencies

• Able to form a definitive growth strategy and build a digital wallet business model that can help the wallet build market share amidst the competitive landscape.
• Can use an extremely broad range of influencing approaches, tactics and styles to engage effectively with the stakeholder landscape, whilst recognising the cultural context.
• Naturally inquisitive and successful in researching key issues. Can reflect on what needs to happen next, what might get in the way, and therefore what needs to be put in place to ensure progress. Is aware of what constitutes best practice in the commercial and Fintech sector and strives to deliver this.
• Creates a commercial and customer-oriented team framework that ensures that tasks are performed by staff members with appropriate capacity and authority level (based on knowledge, skills and competence).
• Effective in establishing appropriate goals and objectives and can ensure that they are disseminated to cross functional teams and delivered on time and within budget.
• Inculcates a culture of mobile wallet growth –leadership, accountability, high-performance teams, customer and market focus, robust solutions, alignment, discipline, speed and quality.
• Implements incentives and metrics to support such agility.
• Assess the organization’s vision, goals, objectives, and strategies to identify the desired future. Can analyse the existing organizational structure, policies, politics, problems, opportunities, technology, etc., to build a compelling business case for change.
• Anticipates internal and or external business challenges and/or regulatory issues and leads process, product, or service improvements.
• Safeguards ROI of an organisation by ensuring the right investments are being made in at the right time for the right reasons.
• Understands financial concepts and terms, can use them to describe events and can incorporate the same in problem solving and decision making.

Behavioural and Cognitive Competencies

• 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.
• Interacts with people (colleagues, customers, stakeholders and the public at large) 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.
• Able to change plans, methods, opinions, or goals considering new information, with the readiness to act on opportunities. Highly effective in adapting to differing environments.
• Inculcates a digital mind-set in the organization, institutionalising 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.
• Have a strategic approach to personal and professional development actively seeking feedback from others to which they will respond by establishing self-development goals.
• Seek to experience a range of relevant career opportunities in the context of a long-term plan enabling them to deliver the truly outstanding contribution required.
• Delivers results and has significant impact on an organization through the teams managed.
• At a basic level, are proactive, never reactive, and don’t need to be told what to do. At the highest, will recognise and bring into the organisation significant opportunities where technical solutions and business opportunities meet to create strategic advantage.
• Is not afraid to speak their mind and is always prepared to raise difficult issues with others in the face of actual or expected opposition from colleagues.
• Be personally robust and self-confident in pursuit of their objectives for the customer segment and the organisation.
• Maintain a positive “can-do” attitude to achieve what they know needs to get done.
• Capable of developing a sound understanding of the motives, needs and concerns of others and develop a deep understanding of their complex stakeholder network. Can anticipate the motives and expectations of others effectively.
• Team members feel included, valued, and trusted, such that they work impactfully with each other and with other teams.
• Has the emotional intelligence to understand and manage own and other emotions.

Education

Bachelors Degree and Professional Qualifications: Business, Commerce and Management Studies (Required)