Product Manager AVP -Virtual Accounts/Payer ID
New York, NY
This critical role is part of the TTS NA Emerging Receivables and Instant Payments Product Team, which is charged with developing and commercializing next-generation solutions to meet the needs of TTS client for eCommerce collections, bill and invoice presentment and payment, reconciliation, and virtual accounts in addition to managing the continued expansion of instant payment solutions in the U.S. and Canada. The team, a critical part of ther NA Payments & Receivables organization, is heavily involved in every aspect of the product development process, including design, delivery, and commercialization of products; and works closely with clients; internal stakeholders, including Global Product Management/Development, Sales, Marketing and Market management, Client delivery, Legal and Control partners; and 3rd party vendors. The team also oversees product strategy & positioning, client enablement, and product and P&L management across a suite of high-visibility products focused on payment digitization in North America - including Citi Smart Match, Present & Pay, Virtual Accounts and Payer ID and Spring by Citi - as well as U.S. Instant Payments via The Clearing House RTP.
Citi Virtual Accounts allow clients to segregate their balances under a single physical account, providing enhanced visibility, control and efficiencies through centralized payments, receivables and liquidity management.
Citi Payer ID accounts assign automated payer identification for efficient and straight through accounts receivable reconciliation.
To help drive these critical product offerings, the Emerging Receivables team seeks a strong AVP/Product Manager to help lead our overall virtual account and payer ID strategy in North America, the continued build out and commercialization of virtual accounts and payer ID in the U.S. The successful candidate will be/become an SME and evangelist for virtual accounts and payer ID and associated capabilities, working closely with key TTS NA stakeholders, functional partners and diverse stakeholders across ICG, GCB, CCB.
Key responsibilities include:
Help set strategic vision and multi-year NA product roadmap in tandem with the global team and functional partners.
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.
- 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.
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 and represent business at industry conferences.
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
Grade :All Job Level - All Job FunctionsAll Job Level - All Job Functions - US
Time Type :
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Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.
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