Instant Payments & Core Payments Product

The Market Segment & Services Senior Specialist is a strategic professional who stays abreast of developments within own field and contributes to directional strategy by considering their application in own job and the business. Recognized technical authority for an area within the business. Requires basic commercial awareness. There are typically multiple people within the business that provide the same level of subject matter expertise. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Significant impact on the area through complex deliverables. Provides advice and counsel related to the technology or operations of the business. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job family.

Responsibilities:

• Work closely with Technology, Operations and Coverage teams to drive timely, cost effective and high-quality Delivery of strategically aligned product solutions
• Partner with Finance to evaluate investments in product development, and monitor and control billing/revenue, expenditure, and benefits realization
• Work closely with global and regional product teams to develop and refine the strategy of product solutions, go to market approach, and Delivery model.
• Work with product control functions to ensure that all relevant documentation (eg product Approval Program) and processes are strictly adhered to and part of the management fabric of the product business
• Coordinate planning and other related activities for launching of new capabilities and functionalities across Technology, Operations, implementations, and regional teams
• Work closely with the coverage teams, and core product teams to ensure that demands of the White-Label clients are well understood
• develop an action plan to address VOC (Voice of the Client) feedback. Partner with cross-functional and coverage teams to execute
• Invest time to keep track of Competition, market Trends, new Technologies
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, 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.

Qualifications:

• 6-10 years of relevant experience in electronic banking channels with good knowledge of corporate banking practices in the cash management space; Exposure to and understanding of business analysis, data and system analysis
• Demonstrated ability to self-direct work efforts, meet deadlines, take initiative, and produce consistent high-quality work; Willingness to be a direct contributor and ability to multi-task

Education:

• Bachelor’s/University degree, Master’s degree preferred

The Canada TTS business is entering a transformative period highlighted by an aggressive industry payments modernization plan, an enhanced regulatory environment, ongoing application rationalization, and a rapid deployment of value-added products and services. Reporting to the Payments Product Head for Canada, this role will lead Instant Payments and core payment products within the team.

• Lead the ongoing growth & development of the Instant Payments product offering by driving the requirements for the Real-time-rail launch and engagement within the industry
• Manage, Project Lead, co-ordinate and complete ongoing Control activities and related Regulatory Projects through interaction with Product, Compliance, Technology, and Operational participants, as appropriate, to the Products
• Monitor key product measures, identify actions necessary and lead corrective actions.
• Manage business risk & compliance across suite of products, including completion of all audits, legal, tax risk, vendor governance, and compliance and regulatory reporting, including MCA’s and CAP follow ups.
• Ensure strong ongoing engagement by the Business, In-business Control, and Compliance Functions that participate in the product approval and governance processes for new product launches and enhancements to existing products

Successful candidates will be comfortable evolving into a Subject Matter Expert on for these solutions, working closely with key stakeholders across the global organization and other Citi lines of business, Sales, functional partners (Compliance, Risk, Controls, AML, Sanctions) and clients to commercialize these newer products, grow revenue and help drive an optimal user experience. The successful candidate will drive product strategy and positioning, sales and client enablement, and product and P&L management, and is heavily involved in the product development process.  The successful candidate will also drive progress on key Control and Compliance initiatives to strengthen the risk management of the product offering.

Job Qualifications

The Instant & Core Payments product manager must successfully undertake and navigate each of the following responsibilities:

Product Management and Development:

-Set strategic vision and multi-year Canada product roadmap in tandem with NAM and Global Product and functional partners, including continued support and/or build out of Interac e-Transfer product and the launch of RTR and other value-added capabilities.

Collaborate with Technology and other partners to drive forward-looking infrastructure planning to support growth at scale.

Commercialization:

- Act as a senior conduit for client / industry trends, market challenges, product development and client needs, both inbound and outbound.

- Communicate the Citi Instant Payments strategic roadmap and value proposition clearly through meetings with clients, sales and coverage teams, partners and other industry participants.

- Collaborate with sales, Implementation and Service to build out client pipeline and help ensure wins are smoothly implemented.

P&L Management:

- 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 manage re-forecasting of targets in partnership with Finance. Conduct or participate in monthly and quarterly financial reviews.

- Optimize the pricing framework and price points for Instant Payments product.

Governance / Risk and Controls:

- Manage and adhere to all Third-Party Management policies and procedures in the role of BAO, PBIO and similar

- Collaborate with all Risk & Control functions, New Product Approval Committee (NPAC), and other individuals as needed in order to maintain a pristine risk and control environment.

- Ensure a strong controls environment by optimizing risk/reward trade-off and adhering to all applicable laws and Citi policies.

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