Managing Director, Commercial Card and Payment Solutions Product Management

Date Active

May 16, 2023 11:01:15 AM

Requisition #

23-1390

Hours Per Week

40

Location

NY Region-NYHOM

City

Open

State

New York

Job Description/ Requirements

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer. 

 

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work.

 

Position Summary

The Managing Director, Commercial Card and Payment Solutions Product Manager is responsible for execution of tasks related to both the day-to-day management of the Commercial Card product as well as strategic tasks related to product strategy, product development and business growth. The primary focus of this role will be to lead the implementation of Webster’s commercial card program, manage the relationship with our issuing partner and cross-functional support staff, and design and execute on a clearly defined strategy for the continued build and growth of the card business.

The incumbent of this role must demonstrate strong people leadership and teamwork skills and possess an aptitude for leading and influencing cross functional teams. This person must also have the ability to gather and analyze information to drive decisions and communicate them effectively to stakeholders throughout the organization. This position requires someone who will push the envelope and drive change in a collaborative way across the entire organization.

 

Key Responsibilities

• The Commercial Card and Payment Solutions Product Manager oversees much of the day-to-day management of the product, ensuring the product and related processes are operating as expected, leading issue resolution, supporting client acquisition, monitoring and measuring performance, keeping partners informed and providing oversight, managing vendors, etc
• The Commercial Card and Payment Solutions Product Manager is also responsible for staying informed on industry trends, monitoring the Commercial Card competitive landscape, leading product enhancements, developing marketing and training materials, promoting the product internally, identifying and implementing opportunities for product/process improvements, etc
• Other duties and special projects may be assigned
• Identify new products, features, processes that will improve client experience or support revenue growth
• Lead the product development cycle (market research, ROI analysis, design, build, development of processes and procedures, pricing, training, marketing, etc.) to bring robust solutions to market and enhance over time
• Participate in client meetings in support of sales and to gather client feedback; participate in deal structuring, pricing, and execution
• Leverage internal resources (sales and service), internal data, client feedback, market research, industry knowledge and prior experience to identify and execute ideas to close product gaps, optimize and grow the business, improve the customer experience, increase program spend, and set competitive pricing
• Act as product SME for partners in Sales, Service, Implementations, Account Management, etc
• Keep up to date on the competitive landscape, industry knowledge, regulations, and other internal and external issues to ensure product remains competitive and compliant
• Support the Account Management, Implementation Management, Service and Operations teams in the resolution of any service delivery issues
• Establish strong relationships with all colleagues, particularly Sales, Implementations, Account Management, Technology, Operations, Marketing, Legal, Compliance, and Vendors
• Lead vendor negotiations and manage vendors
• Respond to all audit requests
• Ensure product complies with Regulatory and Network/Association rules
• Adheres to and complies with applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering (i.e. Adheres to Bank policies and procedures and completes required training)

Requirements

• At least 10 Years of Commercial Card Product Management experience required
• Candidates with advanced degrees (Associates, Bachelor’s, and/or Master’s) preferred, yet a High School diploma or GED is required. Candidates with some combination of coursework and experience, or extensive related professional experience, are eligible for consideration
• The ideal candidate should be an experienced Product Manager with a background in Commercial Card who is well versed in all card product offerings, including Corporate/T&E Card, Purchasing Card, Virtual Card (Buyer Initiated and Supplier Initiated Payment solutions), Fleet Card, Prepaid Cards as well as related payable products, including integrated payables, push to card and be familiar with current market trends and the competitive landscape
• The candidate should be enthusiastic and must have the ability to think creatively, solve problems, influence others, initiate and lead change, build relationships, and collaborate with partners across functions
• Cross-functional experience in a leadership position with direct management experience is preferred
• Strong written and verbal communication skills
• Familiarity with corporate ERP systems, purchase requisition systems, accounting systems, accounts payable and expense management processes
• Cross-functional leadership-previous experience working with various stakeholders to coordinate, plan, execute, and manage product releases from beginning to end
• Strong business and financial analytical skills in order to conduct profitability analysis on new and existing products.
• Excellent organization and planning skills
• Great Communication Skills – Strong communications, both verbally and written. Ability to influence others and establish/maintain collaborative relationships.
• Ability to manage a large team and operational functions, directing process reengineering and efficiency exercises.
• Keen understanding of products, services and underlying processes to fulfill.
• Strong business orientation, track record of balancing risks versus rewards and maximizing the cost effectiveness and profitability for the business.
• Data driven and analytical, while also being a creative thinker
• Excels at managing multiple initiatives simultaneously within tight deadlines
• Strong analytical, problem solving and planning skills

 

The estimated salary range for this position is $160,000.00 to $180,000.00. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

 

 

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Equal Opportunities