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TTS Instant Payments Product Manager-AVP

Job Req ID 21277247 Primary Location New York, New York; Toronto, Canada Job Category Product Management and Development
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Position Objective:

This critical role, part of the TTS NA Emerging Receivables and Instant Payments Product Team, is charged with developing and commercializing next-generation payments solutions to meet the needs of TTS clients, including Instant Payment offerings via The Clearing House (TCH) RTP©, Zelle, and FedNow, slated to launch in the next two years.  TTS was among the first banks to go live when RTP launched in November 2017, the first new payment system in the U.S. in 40 years, and Citi’s retail bank is the first to support RTP’s request for pay functionality to support receivables use cases, such as consumer bill payments. We are currently participating in the Federal Reserve’s FedNow pilot, which recently kicked off activities.  Citi continues to make significant investment into instant payments to supports its leadership position in North America and globally, where we are connected into 26 instant payments schemes, with plans for an additional 10+ markets over the next 12 months.

To help drive these critical product offerings, the Emerging Receivables team seeks a strong AVP/Product Manager to help lead our overall network management strategy in North America, the continued build out and commercialization of Instant Payments in the U.S. and Canada, including RTP, Zelle, FedNow and related alternative payment initiatives. The successful candidate will be/become an SME and evangelist for these capabilities, working closely with key TTS NA stakeholders, functional partners and diverse stakeholders across ICG, GCB, CCB and external industry participants, including TCH and other participating financial institutions.  The person will also ensure alignment with Citi’s instant payments strategy and offering globally.  The AVP would manage the continued evolution of these payment schemes, efforts to target current disbursements use cases as well as evolving flows (e.g., bill payments, eCommerce); and help drive commercialization efforts in partners with client facing teams and market management in NA as well as global partners. The incumbent will also have significant exposure to broader payment industry dynamics through Citi’s active participation in cross-bank working groups with TCH, Early Warning Systems (owner of Zelle), and the Faster Payments Council.  

The Emerging Receivables and Instant Payment team is a key pillar and growth driver of the broader NA Payments & Receivables organization; Product managers lead or are heavily involved in every aspect of the product development process, including design, delivery, and commercialization of products; and work closely with clients and Sales, as well as internal stakeholders across Global Product Management/Development, Client Delivery, Marketing and Market management, Legal and Control partners; and 3rd party vendors.  In addition to its focus on Instant Payments, the broader Emerging Receivables team is leading product strategy & positioning, client enablement, and product and P&L management across a suite of high-visibility products, including Spring by Citi and our One Receivables solution suite that includes Citi Smart Match, Citi Present & Pay, Virtual Accounts and Payer ID.

Key responsibilities include:

• Help set strategic vision and multi-year NA product roadmap in tandem with the global team and functional partners, including participation in the RTP-Zelle integration, strategy and preparation to launch FedNow, alternative payments and e-wallets and continued development of instant payment offering in Canada.

• Build out and manage P&L to deliver Revenue, Expense and Net Income Plan that maximizes profitability and minimizes cannibalization of other P&R Product P&Ls.  Create annual financial plan and re-forecast targets. Conduct or participate in monthly and quarterly financial reviews

• Define value proposition, competitive positioning, and distribution channels. Build out/refine client-facing Product sales decks, white papers, demos and other client-facing materials to support Sales efforts. Develop and conduct training for TTS Sales and Account Management and Banking teams.

• Develop market segmentation strategies and go to market commercialization plans. Drive Marketing strategy with Solution Sales, Bankers, Account Managers and Product Sales partners as well as market management team for product set.  Conduct competitive and market analyses to determine go-to-market strategies

• Ensure a strong control environment by optimizing risk/reward trade-off and adhering to all applicable laws. Ensure product risk, compliance and audit standards and maintain pristine control environment

•Participate in forums established by The Clearing House, Early Warning Systems/Zelle, and other industry forums.  Participate and represent business at industry conferences

Development Value:

• Provides E2E Product Development and Product Management responsibility

• High-profile visibility within the bank and externally on Payment transformation; significant senior-level exposure

• Opportunity to become an industry expert (internal and external), including direct engagement with multiple stakeholders across O&T, Controls and Compliance, Treasury and Global teams.


• Demonstrated experience in Product Management and/or Product Development, specific to the cash management industry

• 2+ years related experience in Payments and/or Cash management front-office or Cash Management operations/ Service/ Implementation. Experience working on initiatives related to payment transformation desired

• P&L management experience desired


• Exceptional interpersonal skills with strong ability to influence and build consensus

• Ability to work closely and build trust with peers and senior management

• Understanding of operational and technological aspects of Cash Management business

• High level of personal integrity, interest in payments as evidenced by related work experience, proven dedication to excellence, leadership qualities and a flexible, creative, innovative personality

• Interest and aptitude to understand and improve processes, platforms and products


• Exceptional organization and process management ability; self-starters will do well in this role

• Outstanding leadership skills. Able to motivate/influence project team members and functional partners

• Ability to work closely and build trust with senior management

Other Qualifications:

• Bachelor's Degree


Job Family Group:

Product Management and Development


Job Family:

Market Segments and Services


Time Type:


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