SVP Product Strategy & Innovation

Commercial Payments (Treasury, Commercial Credit/Prepaid Card & Merchant Services)

Financial Institution

In this senior-level leadership role, you will assume end to end responsibility for a suite of products and services within the Enterprise Commercial Payments division of a leading Financial Institution whose Payments business has recently undergone a transformational rebuild focused on innovation and growth. With many strategic components already in place, this is an opportunity to bring your expertise in payments product management, team leadership, and P&L management to fuel the fire and grow the business. You will lead a high performing team composed of 5 direct reports and 20 altogether that is responsible for end to end product strategy, with full accountability for stakeholder results across the clients, shareholders, employees and communities served.  You will report to the Head of Product & Innovation within the Commercial Payments division and will be a significant contributor as a thought partner and leader across multiple cross-functional organization-wide initiatives. If you are an experienced Product leader with expertise in Commercial Payments, Merchant Acquiring, or Prepaid, this could be an exciting next step for you.

Key Responsibilities:
  • Contribute to the ongoing evolution and execution of the Banks’ Enterprise Commercial Payments (ECP) strategy, with a focus on product and services
  • Establish advocacy and effective relationships with internal and external partners to enable the delivery and support of ECP’s strategies, interacting at an executive level with clarity and purpose  
  • Execute and provide continuous improvement against best in class product management practices
  • Understand client behaviors, client segmentation, and competitive positioning to structure product value propositions for market success, while inspiring cross functional teams to deliver
  • Continuous monitoring of the industry to maintain and enhance subject matter expertise, identify trends and changes in client and competitor behaviors, and keep abreast of changing regulatory requirements
  • Monitor and evaluate market trends to identify new product and/or partnering opportunities to position and differentiate the Bank through best in class product offerings
  • Follow a cyclical product development life cycle of financial review, forecasting, idea generation, opportunity sizing, business case preparation, product development, and commercialization to always have a view of investment priority
  • Launch and optimize new partnerships and platforms the Bank has acquired to fully realize value across all constituencies
  • Maintain a healthy balance between searching for the next innovative product and running the Bank’s existing platforms 
  • Demonstrate thought leadership and establish/enhance the Bank’s market positioning through mediums such as articles, white papers, marketing communications, speaking engagements, etc.  
  • Deliver training internally and externally to ensure a full understanding of value proposition across multiple stakeholders  
  • Actively support client calling efforts by enabling subject matter expertise on assigned products including current product usage, solution support, and future trends in the payments industry
  • Attract, develop and retain a high performing, inclusive workforce. Cultivate talent through development planning, coaching, employee retention, and recruiting new talent when necessary. Nurture leadership among team leaders and build succession. Provide direct, candid and regular feedback to individuals promoting strong performance and proactively managing weak performance out of the organization. Maintain a pipeline of talent
Ideal Background:
  • Bachelor’s degree or equivalent experience required.  Advanced degree and/or industry experience preferred, with particular consideration given to merchant acquiring industry experience.
  • Minimum 8-10 years treasury services product management or related financial services, FinTech or software industry experience with a proven track record of independently setting strategy and delivering results with minimal supervision. 
  • Proven ability to leverage the skills and capabilities of a diverse team to deliver comprehensive solutions to clients and achieve team’s financial and strategic goals.
  • Strong financial and business acumen.
  • Excellent analytical, problem solving and quantitative skills.  Must be comfortable making decisions based on imperfect information. 
  • Strong internal and external communication skills.  Must be able to create and execute executive level presentations, present at industry venues, and interface with the media and clients as appropriate.
  • Excellent project management skills with the ability to manage multiple projects/initiatives simultaneously and achieve targeted completion dates. 
  • A team player with proven ability to build strong collaborative relationships with internal and external partners including finance, technology, operations, sales, marketing, legal, compliance, and vendors.
  • Proven ability to assess and enhance product effectiveness and market receptiveness.
  • Process improvement orientation. A proven ability to recommend solutions, champion change, manage implementation, influence others, and foster teamwork.
  • Proficiency with common technology including standard Microsoft Office software.
Location:

Midwest

Principal Consultant:

Job Filled October 2018!
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