About the position
Our Client is looking for a Key Account Manager to join their Team
Role
- They Key Account Manager (KAM) is a Professional responsible for managing and nurturing relationships with our Company’s most important or "key" clients. These clients are typically major accounts that contribute significantly to a company's revenue and profitability.
- The role of the Key Account Manager is critical in ensuring the long-term success and satisfaction of these key clients.
- Their primary responsibility is to ensure that the Company clients receive exceptional service and that their needs are met effectively including upselling of new services and products.
- Having banking industry experience is crucial in this role, as it enables the Key Account
- Manager to understand the unique challenges and opportunities in the financial sector and offer tailored solutions to key clients. You need to be skilled in both relationship management and business acumen.
- The Key Account Manager must be an effective communicator, problem-solver, and negotiator.
- Take note that the core focus is always on developing and maintaining strong, mutually beneficial relationships with important clients.
Who we are looking for:
Skills, Experience and Deliverables
- Client Liaison and Service Delivery Management.
- A strong understanding of financial and banking business drivers.
- Exceptional dispute management and conflict resolution skills.
- A strong understanding of Risk Management.
- Experience with reporting against SLAs and KPIs.
- Experience in establishing Continual Service Improvement processes in injunction with internal and external key stakeholders.
- Strong verbal and written communication skills to interact with clients and internal teams.
- Computer Proficiency: Proficient in using our current and the banking software tools for account management and reporting.
- Banking Expertise: In-depth knowledge of banking products and services, including retail and corporate banking, lending, investments, and wealth
- Industry Knowledge: Strong knowledge of the industry in which the Company operates is crucial. KAMs need to understand the market dynamics, trends, and competition to effectively manage key accounts.
- Financial Acumen: An understanding of financial markets, investment strategies, and risk management.
- Contract Negotiation: Negotiating contracts, terms, and pricing with key clients, ensuring mutually beneficial agreements.
- Negotiation Skills: Effective negotiation skills are essential for dealing with complex, high-value contracts and agreements.
- Sales and Upselling: Identifying opportunities for upselling or cross-selling products and services to key clients to increase revenue.
- Presentation Skills: Delivering effective presentations, whether for product demonstrations, business reviews, or account plans, is important for conveying information and ideas clearly.
- Tech Proficiency: Familiarity with customer relationship management (CRM) software, sales analytics tools, and other technology is often necessary for efficient client management.
- Product Knowledge: A deep understanding of the products or services offered by their company is essential. This knowledge helps Key Account Managers match the right solutions to their client's needs.
- Emotional Intelligence: Understanding and managing emotions, both their own and their clients', is vital for building strong, lasting relationships.
- Adaptability: The ability to adapt to changes and evolving client needs is essential. Industries and businesses are dynamic, and Key Account Managers should be prepared to pivot when necessary.
- Strategic Planning: Developing strategic account plans that outline objectives, strategies, and action plans for each key account. This includes setting targets for revenue growth and client satisfaction.
- Problem Solving: Addressing client concerns and issues promptly, and working to find solutions that align with the client's goals and the company's capabilities.
- Compliance and Regulatory Knowledge: Stay up to date with banking regulations and compliance requirements.
- Time Management: Juggling multiple accounts and responsibilities can be demanding. Effective time management is crucial for staying organized and meeting client needs.
- Analytical Skills: Analysing data and performance metrics is important for tracking progress and identifying opportunities for growth. It's helpful for identifying areas where the company can add value to the client. Be proficient in data analysis to identify trends and opportunities within their accounts. This involves using tools and software for customer analytics.
- Problem-Solving Skills: Clients may encounter issues or challenges, and Key Account Managers need to be skilled problem solvers to address these effectively.
- Computer Proficiency: Proficient in using banking software and tools for account management and reporting.
- Ethical Conduct: Maintaining high ethical standards and integrity in dealing with clients is essential for building trust and long-term relationships.
Special Requirements:
- Wiling to travel to clients on a weekly basis - Gauteng, Cape Town and KwaZulu Natal.
- Must have own and reliable transport.
Education:
- A bachelor’s degree in business, Marketing, Sales, or a related field is often a minimum requirement.
- Advantageous: Master’s degree in business administration (MBA).
What the job will entail day to day:
- Client Relationship Management: Build and maintain strong, long-term relationships with key clients. This involves understanding the client's needs, goals, and challenges and working to meet those needs effectively.
- Account Strategy Development: Develop and implement strategic account plans that outline the objectives, goals, and actions needed to grow the account and achieve mutual success.
- Communication: Serving as the main point of contact between the company and the key clients, facilitating clear and effective communication.
- Cross-Functional Coordination: Collaborating with various internal departments such as sales, marketing, product development, and customer support to ensure the client's needs are met.
- Customer Needs Assessment: Understand the unique needs and pain points of each key account and work with the company's internal teams to tailor solutions and services accordingly.
- Analytical Skills: Analyse financial data and client profiles to make informed recommendations.
- Organizational Skills: Manage multiple accounts and tasks efficiently.
- Account Strategy Development: Develop and implement strategic account plans that outline the objectives, goals, and actions needed to grow the account and achieve mutual success.
- Understanding Client Needs: Gaining a deep understanding of the client's industry, business goals, challenges, and market trends to tailor solutions and services accordingly.
- Upsell and Revenue Growth: Meet or exceed sales targets by identifying opportunities for additional sales within key accounts. This may involve introducing new products or services.
- Organizational Skills: Manage multiple accounts and tasks efficiently.
- Teamwork: Collaborate with various internal stakeholders and teams, such as sales, marketing, and customer support, to deliver a seamless experience for the client.
- Strong teamwork and collaboration skills are important.
- Networking: Building and maintaining a network of Key Clients and stay informed about industry trends and potentially open up new opportunities.
- Market and Competitive Research: Stay informed about industry trends, competitors, and market changes that may affect the client's business, and proactively share insights and opportunities.
- Client Retention: Focus on retaining key clients by providing exceptional service and ensuring they are satisfied with their partnership with the company.
- Reporting: Prepare regular reports and updates for both the client and internal management, summarizing the status and progress of key accounts.
- Customer Feedback: Gather feedback from key clients to identify areas for improvement and innovation.
- Training and Education: Ensure that clients are aware of the company's offerings, products, and services, and provide training or educational resources as necessary.
- Risk Management: Assess and manage potential risks associated with key accounts, including issues related to credit, contract compliance, and client satisfaction.
- Portfolio Management: Oversee and manage the financial portfolios of key clients, ensuring that their investments are aligned with their goals and risk tolerance.
Personal Attributes:
- Emotional Intelligence
- Apply and express Exceptional Business Communication skills at all times (Verbal,
- Written and Documentation).
- Be able maintain a professional balance between a high level of Customer
- Centricity and applying a Firm and Assertive approach in all internal and external engagements.
- Consistency in the ability to Listen, Comprehend and Translate information, client enquiries and issues in a comprehensive and accurate manner (Internal & External Engagements)
- Exhibit Exceptional Conflict Resolution Skills with all internal and external engagements and maintaining a Professional Approach at all times.
Desired Skills:
- Key Account Manager
- Strategic Account Manager
- Major Account Manager
