Head of Payments

3 weeks ago


Old Toronto, Ontario, Canada Citigroup Inc. Full time

About the Role

Citigroup Inc. is seeking a highly experienced and skilled professional to lead our Payments business in Canada. As the Head of Payments, you will be responsible for driving the build out and execution of our strategy across the entire spectrum of Payment Products, including ACH, Wires, Cross Border Payments, Instant Payments, and Commercial Cards.

Key Responsibilities

  • Develop and execute a comprehensive payments strategy to drive growth and innovation in the Canadian market.
  • Lead the development and implementation of product roadmaps, product development, program launches, and program marketing to gain maximum benefit from each product.
  • Drive client value propositions, positioning, segmentation, pricing, targeting, channel strategies, and competitive differentiation to achieve preferred status as a partner to Citi clients.
  • Manage the current portfolio and product set, determining long-term strategy and allocating investment dollars to execute the strategy both globally and within the cluster.
  • Oversee all aspects of product life cycle management, including market demands, technology trends, and the competitive field.
  • Monitor key product measures, identify actions necessary, and lead corrective actions.
  • Provide leadership and expertise to clients, prospects, and internal partners, supporting external thought leadership activities in the payments space.
  • Manage acquisition targets, product financial performance, revenue performance, and expense management goals, as well as oversee identification and execution of opportunities and gaps business plans.
  • Own the Canada product roadmap, ensuring that product programs reflect the local market needs of Citi's global clients operating in Canada, in addition to alignment with Citi's regional and global strategies and policies.
  • Manage development and market launch of all new and enhanced products through the bank's product approval processes and provide training, sales collateral, and sales support for coverage and sales.
  • With respect to Product development and infrastructure changes, the role has overall responsibilities for projects, including oversight of business requirements, collaboration, and confirmation of functional requirements documents, satisfaction of Citi's governance criteria, compliance with AML and business risk requirements, review and approval of test plans, and sign-off on production launch.
  • P&L Management (reporting and analyzing financials to ensure goals are being met).
  • Be an evangelist for the product both internally and to the marketplace.
  • Assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citi, its clients, and assets, by driving compliance with applicable laws, rules, and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct, and business practices, and escalating, managing, and reporting control issues with transparency.
  • Manage business risk & compliance across the suite of payments products, including completion of all audits, legal, tax risk, vendor governance, and compliance and regulatory reporting, including management control assessments and corrective action plan follow-ups.

Requirements

  • 15+ years of experience, including 8-10+ years' managerial experience.
  • Knowledge of industry players and ecosystem, as well as industry networks preferred.
  • The incumbent will work closely with the global and cluster product teams to set and track annual spend and revenue targets, and will be expected to support client discussions to help drive wins, program growth, and new deal ramp.
  • Experience managing across multi-function or global business.
  • Experience managing in a large, complex, and matrixed organization.
  • Demonstrated knowledge and experience with the industry, banking, and investment products.
  • Working knowledge of different systems, theories, and practices relevant to a function.
  • Practical experience of multiple business cycles.
  • Knowledge of industry and competitor products/services.
  • Knowledge of strategic direction of the business and functions across clusters combined with solid conceptual/practical grounding in function and/or area of expertise.
  • Consistently demonstrates clear and concise written and verbal communication.
  • Demonstrated internal and external negotiation skills.

Education

  • Bachelor's/University degree, Master's degree preferred.


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