Responsibilities:
The Lenders (Cash) Officer will be part of a team which will have responsibility to build the business for consumer / cash loan lenders. The team will:
- Develop the product that Netbank can provide on accounts and loans (These are complex solutions, so the position holder will need to have deep understanding of client needs and create confidence in the partners)
- Support in onboarding explain the regulation, the options, the financial implications
- Manage clients who have onboarded to cross-sell additional products
Products offered to these lenders will include:
- Collection accounts for loans
- Repayment tracking, payment reminders
- Funding for loans, likely under an FLDG arrangement
As with all teams, this team will need to:
- Deeply understand client needs in the segment
- Understand the competition and identify ways that Netbank can provide a product significantly better than the competition
- Gather feedback from users of the solution to identify points for improvement and potential solution iterations.
- Understand the financial automation needs, execution pain-points, and process gaps of a specific segment to identify solutioning opportunities using our banking products and services.
- Identify the costs and partnerships needed to build and operate the products and services that will make up the solution for a certain segment use case.
- Identify the operational capacity needed to build and operate the products and services that will make up the solution.
- Identify the regulations and risks involved
- Design a commercial model for the solution that will cover the costs of the underlying products and services and align with the market
- Size the market and define targets
- Define the go to market strategy, which will include:
- Promotion of inbound sales
- Identify solutions for clients through contextual inquiries and ideation.
- Negotiate commercials, get internal approvals for non-standard pricing
- Oversee the implementation of the solution for clients. Achieve a rapid sales process.
- Monitor and validate the profitability, traction, and performance of the solution.
The specific roles of the team will be defined by the Solution Manager.
Netbank works remotely. This position will report to the Head of Lenders (Cash).
3. Metrics to monitor
- Number of Clients onboarded to a Solution: The solution/s made must be relevant to the target clients and segments and compelling enough to onboard new clients or convert clients from other providers.
- Solution Usage: The solution must be reliable enough to be used and trusted by clients with the majority of their business.
- Solution Profitability: The solution/s made must be able to cover the underlying costs and generate revenue for the bank.
- Revenue generated within these complex lending solutions
- Number of new clients signed up
o Number of new products offered relevant for these clients
4. Required skills and qualifications
- Knowledge of Banking as a Service: clients, client needs, sales processes, pricing, competition, etc.
- Views on industry trends, innovation directions and issues for Netbank Virtual to consider
- Confidence to proactively contact new clients
- Empathy to understand needs of organizations
- Creativity to identify best banking solutions
- Identify creative solutions to client needs
- Identify technology solutions
- Ability to explain Netbanks positioning and product range to clients
- Ability to raise issues honestly and openly
- Ability to manage the on-boarding process for a complex solution
- Prioritize based on commercial opportunity
- Be aware of cost implications of decisions, play-off against revenue opportunity
- Self-starter, following opportunities
- Desire to move forward with projects and clients
- Finding the fastest way to implement
- Practical approach. Ability to identify solutions to identified issues
- Strong communication skills ready to communicate with clients and internal units
- Commitment to the institutions social mission and corporate values
6. Initial tasks
- Support the development of major clients seeking this solution