First Capital Bank is a full-service commercial bank offering financial products and services to the corporate, retail, and personal markets, wholly owned by FMBcapital Group. With its diverse product offering, First Capital Bank caters to the needs of all segments of the Malawi market, and boasts one of the most extensive branch and agency distribution networks in the country.

First Capital Bank opened for business in 1995 with one branch in Blantyre. From its humble beginnings, the bank now operates 32 branches and agencies across Malawi, employing 850 staff and serving a customer base of 500,000. First Capital Bank operates in all sectors of the Malawian market, servicing the needs of the following market segments:

• Retail
• Small to medium business
• Corporate
• Institutional

The Opportunity:

The Head: Products and Payments, is responsible for the Bank’s customer value proposition and product offerings, contributing significantly to the overall market share growth. They are responsible for the digital, products and payments strategy, from creation to planning to marketing to implementation and the financial performance associated thereto, including both new and existing offerings. This entails managing the digital, products and payment solutions throughout their lifecycle, gathering and prioritizing customer requirements, defining the vision and working closely with the various departments within the Bank to deliver best of market digital, product and payment solutions. 

Job Purpose:

To develop and implement the products, payments and digital strategy and roadmap for Malawi.

• To review and assess technology, products and practices (world best practice and best in class Banks) and enhance existing and develop new digital, products and payment solutions and revenue streams
• To sustainably review (through data analytics) our customer offering, competitiveness, pricing, promotion brand and communication and ensure that there is a complete alignment with the strategy and a 360-degree approach
• To optimize and be accountable for the distribution, sales, penetration and financial results of the Banks digital, products and payment offering, through the various channels within the Bank

Main accountabilities and approximate time split:

Product, Payments and Digital Solutions Strategy (50%):

• Spearhead continuous review and analysis of digital, products and payment solutions to identify strategic initiatives and help acquire greater share of wallet (existing clients) and market share growth (new clients). Including product development and market positioning.

Financial and Sales Management (50%):

• Ensure financial (non-interest revenue and costs) and non-financial (share of wallet penetration of existing clients and market share acquisition of new clients) targets are achieved for the Banks digital, products and payments solutions
• Driving sales of products and penetration levels thereof.
• Channel optimization (USSD, WhatsApp, App, Internet, Card, POS and ATM

Internal and external relationships:

Internal relationships:

• Own team: Hands on leadership to manage their day-by-day activities and support in decision making. Sphere of influence = hands on leadership and decision making
• Country Exco: Contribute to Country achieving its strategic goals. Sphere of influence
• = influencer and decision maker
• Group Partners: To influence decisions that will support the business unit. E.G.: IT, Ops, Risk & Compliance. Sphere of influence = working partner

External relationships:

• All suppliers of relevant solutions, including Visa and Mastercard. Sphere of influence = hands on influencer and decision maker
• Regulators: Sphere of influence = compliance and working partner

Technical Skills / Competency Requirements:

• Knowledge of world best practice technology that drives digital ecosystems, including payment platforms
• Knowledge of digital, telecoms, issuing and acquiring, payments and Banks products and services
• Strategy development and execution
• Product and Channel marketing & positioning
• • Channel optimization
• • Extensive knowledge of market developments and the competition
• • Project and change management

Knowledge, Expertise and Experience:

• A degree in Engineering, Business, Strategy or Information Technology
• At least 5 years’ experience at Senior Management level in the Telecoms and / or Banking sector
• International experience
• Experience in end-to-end product development and management
• Experience with digital banking technical operations

• Globally competitive salary

FMBcapital Holdings plc is the Mauritius-based holding company of the FMBcapital Group. It is listed on the Malawi Stock Exchange and has banking and finance operations in five SADC countries, namely Botswana, Malawi, Mozambique, Zambia and Zimbabwe.

With a solid track record of financial strength and stability FMBcapital Holdings plc aims to be a leading provider of financial services in the region by:
 

• Offering comprehensive and innovative products and services
• Deploying advanced IT delivery platforms
• Prioritising customer service levels
• Providing strong leadership and management
• Implementing strong and robust principles of corporate governance
• The FMBcapital Group has consolidated its position as a leading regional commercial bank and its growing SADC footprint serves the cross-border banking needs of businesses operating in the sub-Sahara region.

FMBcapital Holdings plc is rated Long Term A+ and Short Term A1 by Global Credit Rating Co. – an independent international rating agency.