Executive Head: Banking needed at Sanlam Group

Purpose of the Role

• The Sanlam Group is a leading financial services provider founded in 1918, operating across 32 African countries with its headquarters in Cape Town, South Africa.
• In South Africa, the Group serves over 7 million clients through its core business segments including life insurance, general insurance, investment management, and financial planning services.
• Sanlam’s South African operations span traditional insurance products, retirement and investment solutions, healthcare administration, and emerging financial technology services.
• The Group maintains a significant market presence through multiple distribution channels including tied agents, independent financial advisors, and digital platforms, while actively pursuing transformation and digitalization initiatives to serve South Africa’s diverse customer base across metropolitan, township, and rural markets.

Key Interfaces

Internal:

• Group CEO, Sanlam Fintech CEO, SFT CTO, SFT CPO & SFT CDO, Heads of Retail Mass / Affluent / Corporate, Chief Marketing Officer, Chief Digital Officer, Chief Risk Officer, Distribution Executives, Data & Analytics Head

External:

• TymeBank SA executive team, Regulators (FSCA, SARB), key suppliers, CEO of the Sanlam | Tyme retail Credit JV and other Fintech partners

Key Responsibilities

Strategic Leadership

• Define and lead Sanlam’s transactional banking strategy, including positioning, value proposition, and product priorities.
• Drive Sanlam’s integrated financial services ambition by embedding transactional banking into the Group’s broader retail strategy, particularly through the Blue App and connected platforms.
• Strategic (non-executive) oversight of the Sanlam | Tyme retail Credit JV, through board representation on the Joint Venture (JV) ensuring alignment with Sanlam’s broader insurance and financial services strategy.
• Develop and maintain a comprehensive understanding of market trends, competitive landscape, and regulatory changes to inform strategy and decision-making.
• Foster a culture of continuous improvement, innovation, and customer-centricity within the banking team, ensuring alignment with Sanlam’s core values and mission.

Commercial Ownership

• Serve as the P&L owner of Sanlam’s transactional banking outcomes, including revenue growth, cost to serve, acquisition cost, and return on capital.
• Set and manage performance metrics across acquisition, usage, cross-sell, retention, and contribution margin.
• Translate customer insights, behavioural data, and performance signals into product and engagement improvements.
• Develop and implement pricing strategies to maximize profitability while ensuring competitive positioning in the market.
• Oversee the funding strategy for the Credit JV originated assets held on Sanlam’s balance sheet.
• Collaborate with Treasury and Finance to ensure capital efficiency, balance sheet optimisation and risk-adjusted returns on Sanlam’s JV Credit balance sheet.

Key Responsibilities

Enterprise Mobilisation

• Align and mobilise key Group Clusters including Sanlam Fintech, SGT, SLS, Santam and Sanlam Investments around a shared set of banking outcomes.
• Drive customer value propositions and cross-sell strategies across all banking products, including credit.
• Act as executive integrator, removing silos and ensuring all enablers required for banking success (e.g. journeys, data flows, advisor tools, incentives) are owned and delivered.
• Ensure the Blue App is recognised and resourced as the strategic home of banking engagement.
• Foster strategic partnerships with technology and fintech companies to enhance digital banking capabilities and drive innovation.

Partnership & Governance

• Act as Sanlam’s executive lead in banking joint ventures and partnerships, most notably with TymeBank and the Credit JV.
• Serve on partnership steerco structures; oversee commercial agreements, roadmap alignment, and performance monitoring.
• Uphold regulatory alignment, risk controls, and governance frameworks in collaboration with Risk, Legal, and Compliance teams.
• Develop strategic initiatives to enhance partnership performance and ensure mutual growth objectives are met.

Key Responsibilities

Organisational Leadership

• Cultivate a culture of collaboration, experimentation, performance accountability, and customer-centricity in banking delivery.
• Represent Sanlam Banking at industry forums, investor briefings, media engagements, and key stakeholder platforms.
• Develop and execute strategic initiatives to drive operational excellence and efficiency across the banking division.
• Lead cross-functional teams to ensure the successful implementation of major projects and initiatives.

Candidate Profile

• The ideal candidate for the Executive Head of Banking will be a visionary and results-oriented executive with expertise in banking operations, strategy, and innovation.
• They will bring a strong track record of leadership in complex, multi-jurisdictional environments and demonstrate the ability to shape and execute an integrated banking strategy aligned with the Group’s financial services vision.

Experience and Expertise Required

• Executive banking leadership
• Postgraduate qualification in business (preferred)
• Preferred experience in retail banking or fintech at scale.
• Experience with ESG-aligned banking strategies and sustainable finance practices (advantage).
• Agile and future-focused, with the ability to anticipate shifts in the market and respond with innovative banking solutions.

Strategic execution in federated organisations

• Ability to lead through influence, data, and outcomes rather than hierarchy.
• Ability to influence and collaborate with Group and business cluster leadership to enable integrated value creation.
• Comfortable navigating ambiguity and complexity, with a solutions-oriented mindset and resilience under pressure.

Commercial acumen

• Sound commercial judgment, with the ability to balance profitability, risk, customer centricity, and regulatory compliance.
• Demonstrated ability to drive financial performance, portfolio optimisation, and growth through innovation and operational discipline.

Digital fluency

• Comfortable with digital platforms, behavioural engagement, and analytics.
• Grounding in digital transformation, fintech integration, and platform-based business models in financial services.

Regulatory familiarity

• Strong working knowledge of banking regulatory environment (FICA, AML, POPIA) and experience engaging with regulators and governance forums.

Leadership presence

• Credibility to operate at Group Board, JV Partner, and Exco level
• Experience leading multi-disciplinary teams and driving transformation through inclusive and purpose-led leadership