Loyalty Strategy Lead - Retail Banking Division

Lead the development and execution of a robust loyalty strategy for the retail banking division

1. Experience requirement: 15 Years

2. Job location: Riyadh, KSA

3. Project scope: Loyalty Strategy Lead

Role:

- Develop and implement a comprehensive loyalty strategy: Lead the development and execution of a robust loyalty strategy for the retail banking division, aligned with the bank's overall business objectives.

- Execute loyalty programs and initiatives: Oversee the planning, implementation, and monitoring of various loyalty programs and initiatives, ensuring their effectiveness and alignment with customer needs and business goals.

- Project management: Lead and manage complex loyalty projects, including pan-bank loyalty initiatives, from conception to execution, ensuring timely delivery and effective resource allocation.

- Financial analysis and management: Understand and analyze the profitability and financial implications of loyalty initiatives, including the P&L of the loyalty portfolio. Identify opportunities to optimize revenue generation and cost efficiencies.

- Customer segmentation and targeting: Utilize data-driven insights to identify customer segments and develop targeted loyalty initiatives that drive customer engagement, retention, and advocacy.

- Stakeholder management: Collaborate closely with cross-functional teams, including Marketing, Product, Operations, and IT, to ensure seamless integration of loyalty initiatives into the bank's overall customer experience ecosystem.

- Performance tracking and reporting: Establish key performance indicators (KPIs) for loyalty initiatives and monitor their performance regularly. Prepare comprehensive reports and presentations to communicate results and recommendations to senior management.

- Stay abreast of industry trends: Keep up-to-date with industry best practices, emerging trends, and competitive landscape related to loyalty programs in the banking sector. Apply relevant insights to continuously improve the bank's loyalty strategy.

Requirements:

- Experience: Minimum 15+ years of experience in planning and executing loyalty strategies in a retail bank, with a demonstrated track record of successfully leading and delivering complex loyalty projects, including pan-bank loyalty initiatives.

- Expertise in loyalty management: Strong understanding of loyalty program design, implementation, and optimization. Familiarity with various loyalty tools, platforms, and technologies.

- Financial acumen: Ability to comprehend and analyze the financial aspects of loyalty programs, including P&L analysis and revenue forecasting. Experience in driving revenue growth and managing costs within loyalty portfolios.

- Customer-centric mindset: Deep understanding of customer behavior, segmentation, and targeting. Proven ability to develop and implement customer-centric loyalty initiatives that enhance customer satisfaction and loyalty.

- Analytical skills: Proficiency in data analysis, utilizing customer insights and performance metrics to drive strategic decision-making. Experience with data visualization tools and techniques is a plus.

- Project management skills: Strong project management capabilities, including planning, execution, and resource management. Ability to effectively manage multiple projects simultaneously and meet deadlines.

- Communication and collaboration: Excellent interpersonal and communication skills, with the ability to effectively collaborate and influence stakeholders at all levels. Experience in working cross-functionally and managing relationships with external vendors and partners.

- Adaptability and innovation: Demonstrated ability to adapt to changing business priorities and market dynamics. Proactive in exploring innovative approaches to loyalty program design and customer engagement.

- Education: Bachelor's degree in Business Administration, Marketing, Finance, or a related field. Advanced degree or professional certifications in loyalty management or marketing is a plus.