Overview
The Director Product & Portfolio Strategy will lead strategic efforts to optimize the long-term profitability and competitiveness of the Bank's Merchant Services business. This is a leadership role, critical in evaluating new market products and solutions to meet client demand. Manages key product solutioning, sales support, vendor terms/contracts and the enhancement of the client experience.
Responsibilities
- Product Strategy - Develops and implements strategies to grow the Bank's Merchant Services core business products. Supports the bank's deposit acquisition and liquidity strategy. Build and enhance product catalog to align with client demand, ensuring offerings are competitive, profitable, and appeal to the Bank's client base. Manages the strategy, rationalization, and integration of products from acquired institutions into the Bank's existing operating model.
- Operational Efficiency: Enhancing revenue while controlling expenses. Focus on driving an operational environment that scales for future growth of the Merchant Services business. Mitigate strategic, operational and environmental risk from key third-party processing partners. Considers the compliance, regulatory, and client impacts of all product management activities.
- Vendor Management: Evaluate, source and bring to market new Merchant products, solutions, and vendors based on client demand. Negotiate terms and review all vendor contracts. Mitigate strategic, operational and economic risk from key third-party processing partners.
- Managerial Functions - Establishes and monitors expectations to achieve company and division goals. Makes appropriate changes to division policies, procedures, and efficiencies to meet objectives. Manages the performance, training, and evaluation of assigned staff. Maximizes department achievements by providing professional development and talent learning opportunities.
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Qualifications
Bachelor's Degree and 10 years of experience in financial services including strategy leadership OR High School Diploma or GED and 14 years of experience in financial services including strategy leadership
Preferred Area of Experience:
- Deep understanding of merchant acquiring, payment processing, and risk management
- Experience with white label partnerships and channel sales models
- Strong commercial acumen and ability to structure win-win partnership agreements
- Experience in Product Management, Project Management, or Payment Operations experience
- Strong knowledge of digital trends impacting banking and card-based payment services
- Demonstrated ability to lead, organize and manage multiple projects at once
- Strategic Planning experience