The Product Development Group Manager manages multiple teams through other managers. In-depth understanding of how own sub-function contributes to achieving the objectives of the function is necessary. A good understanding of the industry, direct competitors' products and services, is also essential to contribute to the commercial objectives of the business. This role requires a thorough understanding of the 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 are required to negotiate internally, often at a senior level. Some external communication/negotiation may be necessary. Responsible for executing functional strategy in the 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 the size of the 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, including duties such as performance evaluation, compensation, hiring, disciplinary actions, terminations, and budget approval.
Responsibilities:
- Develop and execute product development plans, timelines, and budgets to ensure timely and successful product launches.
- Manage the prioritization of product features and enhancements based on business objectives, market trends, and customer needs.
- Conduct market research and competitive analysis to identify opportunities and threats in the market landscape.
- Drive innovation and continuous improvement in product development processes and methodologies.
- Coordinate with external partners for product development.
- Drive customer segmentation, product positioning, pricing, and marketing plans for each client segment.
- Develop 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.
- Develop a distribution strategy, considering new and evolving channels for products.
- Embed a culture of world-class professional Product Development, leveraging tools such as Product Launch Framework.
- Ensure that ongoing product innovation and development meets strategic and financial objectives.
- Ensure product offering is competitive in service, functionality, and price.
- Meet client needs through seamless integration and packaging of products with other complementary capabilities.
- Define strategic opportunities for large-scale product partnerships/alliances with external/internal parties/vendors.
- Develop products with attractive and sustainable P&Ls (Revenue, Expense, Net Income Plan, and Operating Efficiency).
- Analyze product profitability, competition, and positioning in the market and proactively drive initiatives to maintain Citi's leadership position.
- 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:
- 10+ years of 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 the 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 a change agent, with the ability to encourage and embrace innovative ideas and solutions.
- Knowledge of Forecasting platforms, database management, and tools is preferred, not required.
- Self-aware with the ability to adapt to various situations, rapidly assimilate and report on complex information while creating a future vision.
Education:
- Bachelor's/University degree, Master's degree preferred.
The CRS Pricing System Solutions & Delivery Team is searching for an individual with expertise in understanding complex pricing initiatives, extensive knowledge of Fiserv Rules, and the Product Control File (PCF), as well as an understanding of cardholder terms and conditions to establish Fiserv systemic processing controls in compliance with the disclosed terms. This individual must understand the regulatory and governance environment surrounding the implementation of pricing requirements, as well as the dynamics of supporting the needs of a partner-centric business. This individual is responsible for directing a team that is accountable for establishing the systemic control record set-up of pricing, promotional, and discount parameters within Fiserv for critical projects and day-to-day activities across all CRS partners. This individual provides strategic insight and thought leadership to analyze how Fiserv control record settings best support the CRS business needs and identifies solutions to optimize efficiency while identifying potential gaps that could drive unexpected systemic control failures. This individual will support the development of effective monitoring activities of the system control, will collaborate with cross-functional business teams, leadership, and our partners to formulate and implement business recommendations and report out to management, auditors, and regulators on Fiserv control parameter functions as needed. This role will report directly to the Head of Pricing and Communication Delivery.
Key Responsibilities:
- Responsible for managing a highly skilled team that supports pricing-related projects, systemic set-up, and maintenance of contract terms (i.e., Merchant Discount Rates and cardholder terms), provides insight on pricing and promotional constructs, supports projects that require Fiserv control record changes, determines pricing solutions, and evaluates pricing strategy components within the system.
- Responsible for identifying areas of improvement within the Fiserv control parameter processes, assisting in identifying cost-saving opportunities or production efficiencies.
- Accountable for reviewing and evaluating quality assurance testing to ensure alignment with governance controls; ensure issues are addressed as depicted by the service level agreements (SLA) and controls outlined within the Manager Control Assessment (MCA) process.
- Support ICRM, internal and external audit documentation requests and walk-throughs as required.
- Support issues management related to concerns that may arise.
- Ensure understanding and adherence to pricing regulatory requirements.
- Understand critical data processes and technology components within the Fiserv control processes; identifying critical gaps and/or opportunities and devising a plan to address and implement.
- Support new partner onboarding; providing conversion and data mapping support.
- Develop strong, trust-based relationships with critical internal business partners.
- Develop and import/export key talent to support the team.
Key Collaboration Points:
To operate successfully within this role, this position will partner with the following teams:
- Fiserv
- Pricing Delivery
- Communications Delivery
- System Solutions Research and Development
- Pricing Controls
- Business Control
- Citi Technology
- Business Delivery
- Operations
- Marketing
- Compliance
- Legal
- Partner Management
- Finance
- Risk
Qualifications
Business and Technical Requirements
- Bachelor's degree or equivalent work experience.
- 10+ years of experience working in the credit card industry with a strong understanding of credit card data and systems.
- 10+ years of direct Fiserv system experience is required, specifically related to Product Control File (PCF) and the Rules GUI pricing applications.
- Experience in system analysis and writing business and functional specifications.
- Strong knowledge of the consumer financial services regulatory environment.
- Specific knowledge of private label/co-brand credit cards, commercial products; working knowledge of other consumer financial services products.
- Demonstrated history of collaboration across multiple, disparate internal business groups.
- Strong critical thinking skills to proactively address business questions and the ability to understand trade-offs and impacts, as well as business process reengineering.
- Ability to manage multiple projects and priorities across teams and work effectively under pressure in a rapidly changing environment.
- History of attracting, developing, and retaining top talent at all levels.
- Excellent verbal and written communication skills; ability to present ideas to audiences at all levels internally and externally.
Leadership Competencies
- Demonstrated ability to operate and influence across the organization including at the C-Suite Level.
- Ability to build strong networks and relationships internally and externally.
- Effective communication skills and ability to communicate at all levels of the organization.
- Analytical thinker with the ability to influence others across the organization.
- Highly capable in change management and proven experience in driving change.
- Comfortable operating in a highly matrixed, complex environment.
- Self-aware with the ability to adapt to various situations.
- Keen sense of accountability and decisiveness in a strong work ethic culture.
- Resolute team player: ability to lead, partner and negotiate with cross-functional teams and across organizational boundaries to successfully deliver client needs.
- Intellectually curious, proactively seeking and developing new opportunities.
- Ability to prioritize and manage projects.
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