Global Clearing Payments Capabilities Director
The Product Development Group Mgr manages multiple teams through other managers. In-depth understanding of how own sub-function contributes to achieving the objectives of the function. A good understanding of the industry, direct competitors' products and services, is also necessary in order to contribute to the commercial objectives of the business. Requires thorough understanding of strategic direction of the function within the relevant part of the business, combined with a solid conceptual/practical grounding in both the function and/or area of expertise and related subject areas. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication/negotiation may be necessary. Responsible for executing functional strategy in area managed. Determines approach to implementing functional strategy. Accountable for end results, budgeting, planning, policy formulation and contribution to future strategy of the area(s). Impact reflects size of team managed, strategic influence on the business and interaction with other functions or businesses. Full management responsibility for multiple teams, including management of people, budget and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary actions and terminations and budget approval.
- The Product Development Group Manager is responsible for all activities related to the development of new products and/or features and functionality of products including developing business cases, requirements definition (BRDs), product enhancements innovation, feature and functionality definition based on market and industry research and trends and client needs
- This role will also lead innovation strategy, define and manage product development processes, scope product releases, identify new opportunities to address business priorities, incorporating regulatory and compliance requirements and investment tracking
- Sets strategic vision with team and functional partners to encourage creative and strategic thinking from team
- Develops 3-5 year product strategy and execution road-map with a transformational change plan
- Drives customer segmentation, product positioning, pricing and marketing plans for each client segment
- Develops an inorganic growth strategy, if relevant, through partnerships, alliances and strategic product development to capture a greater share of global payment flows, including those outside of traditional payment flows
- Develops a distribution strategy, considering new and evolving channels for products
- Embeds a culture of world-class professional Product Development, leveraging tools such as Product Launch Framework
- Ensures that ongoing product innovation and development meets strategic and financial objectives
- Ensures product offering is competitive in service, functionality & price
- Meets client needs through seamless integration and packaging of products with other complementary capabilities
- Defines value proposition, market positioning, and distribution channels
- Explores products / propositions addressing clients' end to end needs, including services with respect to pre and post onboarding
- Defines strategic opportunities for large-scale product partnerships/alliances with external/internal parties/vendors
- Develops products with attractive and sustainable P&Ls (Revenue, Expense, Net Income Plan and Operating Efficiency)
- Analyzes product profitability, competition and positioning in the market and proactively drive initiatives to maintain Citi's leadership position
- Establishes and maintains optimal organizational and headcount structure and reporting relationships for accomplishment of product group's financial and strategic objectives.
- Establishes a dynamic management and communication process between global product management team and country/cluster/regional partners with clear roles & responsibilities, and shared goals and vision
- 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, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
- 15+ years of experience, including 8-10+ years' managerial experience
- Proven track record of successfully managing in a large and complex business
- Intellectual curiosity, analytical and conceptual thinker
- Proactively seeks and develops new opportunities
- Thorough financial acumen and P&L management experience
- Excellent analytical, interpretive and problem solving skills
- Proven track record of bringing diverse groups and perspectives to work against a common goal
- Ability to maintain momentum and minimize client and employee attrition
- Demonstrated people management skills with ability to motivate large teams and drive results
- Process Management knowledge with a propensity for detail and comprehensiveness of content
- Ability to collaborate and clearly communicate with senior members of an organization
- Project Management skills with experience leading large cross functional initiatives
- Proven track record as change agent, with ability to encourage and embrace innovative ideas and solutions
- Knowledge of Forecasting platforms, database management and tools is preferred, not required
- Self-aware with ability to adapt to various situations, rapidly assimilate and report on complex information while creating a future vision
- Bachelor's/University degree, Master's degree preferred and managerial experience
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
This is an exciting opportunity to lead a key pillar of the transformation of the Payment and Receivables business in Citi's Treasury and Trade Solutions (TTS) organization, launch new solutions and interact and build relationships with, clients, SWIFT, the banking industry, and a diverse functional and regional team. The incumbent will drive the strategy, and to do so will be accountable to finalize requirements, define priorities, lead pilot discussions with clients, plan and execute commercialization, represent Citi in industry forums.
The Global Clearing Capabilities Development Manager will report to the Global Payments and Receivables Product Development Head. The position will lead execution of the strategy to improve transaction visibility/accessibility to multiple constituents enabling access to transactional information and providing the ability to report, analyse and act on such information. The incumbent will work with all functional teams within TTS such as Channel and Enterprise Services, Client Experience, Client Delivery, Operations, Technology, Risk, Compliance as well as regional/country partners from N.A., Asia, EMEA and LATAM. The incumbent will lead implementation of capabilities that leverage marketplace changes to clearing infrastructure using the ISO 20022 standard, moving to 24x7 clearing, adding new payment message capabilities to provide richer payment information, giving more transparency to payment status, and providing more timely delivery of information across all participants in a payment chain.
Key Deliverables include
- Ensure efficient and timely migration of capabilities to ISO20022 standards, to 24x7 oor as per national clearing infrastructure mandates.
- Deliver solutions for client interactive connectivity that support seamless execution payments, and efficient capture of information at the source.
- Create capabilities that improve exception management, reducing time to resolve investigations.
- Define and develop improved client connectivity features that improve client access to payment information from initiation to execution, reporting and exception management. Provide clients with tools to improve the end-to-end process.
- Build capabilities that support liquidity management (monitoring, reporting, and charging) in a real time, 24x7 environment.
- Provide a globally consistent and comprehensive solution for regulatory reporting, client reporting and internal reporting using a common data source
- Work with TTS Data Scientists in the Innovation Lab and with other internal stakeholders to formulate strategies and deliver solutions for use of machine learning, data analytics, and natural language processing techniques to derive insights that reduce inquiries and eliminate friction for clients.
- Create, refine, and execute on business requirements to deliver an industry strength/robust solution in response to client cash management needs, internal needs, and those of external stakeholders
- Work with global and regional payment product teams, treasury, liquidity, channel and enterprise, SWIFT, client operations, technology teams to meet the goals
- Lead discussions with pilot clients as the solution is developed. Present the solution in client forums
- Lead discussions with SWIFT and other clearing national bodies to standardization, and promote interoperability
- Experience in leading a transformational program that is central to the business's strategy.
- Exposure and visibility with senior management as well as local, regional and global stakeholders across product, compliance, legal, operations and technology amongst others.
- Opportunity to develop an industry leading solution
- 10+ years in senior positions in Payments/Receivables roles, with significant exposure to clearing capabilities, ISO 20022 and cross border payments
- Familiarity with key industry infrastructure including SWIFT, CHIPS, Fedwire, EBA, Target 2, CHAPS, etc.
- Prior technology or technology focused product development or management experience
- Ability to understand and dissect processes into core components so they can be analysed, assessed in terms of criticality to the program
- Excellent communications skills to seniors, to clients, to industry peers.
- Proven leadership ability to influence and coordinate multiple global stakeholders.
- Excellent written and verbal communication skills are paramount. Ability to present at the executive level
- Ability to operate at different levels: to analyze issues, synthesize them. Develop themes. Understand risks, translate lessons learned into actions
Qualifications (What academic/professional qualifications/registrations):
Grade :All Job Level - All Job FunctionsAll Job Level - All Job Functions - GB ------------------------------------------------------
Time Type :Full time ------------------------------------------------------
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