Requisition ID: 163013
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
The Director, New Payment Solutions - CCAU drives the profitable growth of the New Payment Solutions strategy in the Caribbean, Central America, and Uruguay (CCAU) region, by providing strategic leadership, planning, oversight and guidance to Retail officers and product teams in a two-fold function:
- They must achieve business development and portfolio growth objectives (revenue and activity targets). The incumbent is further accountable for strategic approach that Retail officers develop for their retail portfolios.
- They are also directly accountable for ensuring that profits are maximized for all products and services across all portfolios, ensuring that the product offering is competitively positioned, and existing and future customer needs are met. The incumbent identifies, develops, and executes product development plans and prioritizes on-the-ground expertise and resources. In addition, the incumbent is responsible for full cycle product management, field support and technical expertise, marketing, and sales planning for all business markets for the assigned portfolio. The product portfolio includes international and/or cross-border payment products, ACH, global wires, bill payment, P2P payments, mobile payments, and related products.
In developing business, Retail officers also have "country manager" mandates and the incumbent is responsible for ensuring alignment between Payments' overall strategy and the local/regional product and commercial roadmaps. As such, ensures that strategic goals and objectives are formulated, communicated, and aligned to/with senior management in these markets, and as necessary, aligns Payments' product execution to the relationship management activities. They must remain closely connected with regional International Banking Executives (Country and Commercial Heads) to be always aware of strategic priorities and overall direction and translate/guide the CCAU team to execute in ways that meet the strategic objectives of the overall Bank. Accountabilities:
- Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
- Lead and manage a team of New Payment Solutions officers to achieve profitable revenue growth within the Retail Payments business by:
- Identifying market potential, and developing objectives and plans to profitably exploit the market within the CCAU region anticipating and planning for potential risks and opportunities
- Leading the development and execution of an annual volume plan (matrix by sub product, country, and region) for Payments.
- Developing specialized sales programs and maximizing intra-regional New Payment Solutions business within CCAU
- Participating in the review of sales strategies for large value opportunities (targeted calling, analyzing, structuring, negotiation tactics and client pitches)
- Participating, as required, directly in the sales process for large value opportunities (presentations, proposals, negotiation of pricing (internal and external), terms and conditions culminating in the closing of complex transactions
- Providing guidance and support to Direct and matrix reports negotiating less complex transactions
- Championing any needs for non-standard pricing and obtaining the necessary approvals
- Implement and achieve strategies for increased Penetration and Cross sell ratios
- Providing direction, coaching, and training as required
- Ensuring staff are knowledgeable of products, services, and procedures relative to the needs of the customers and market area they are required to serve
- Preparing and obtaining agreement on individualized development plans for all Direct Reports
- Ensuring that the Bank's interests are protected at all times by strictly adhering to risk management and compliance programs, internal and regulatory guidelines, including Know Your Customer, AML/ATF, etc.
- Partner with the CCAU countries to develop and execute strategic business plans for New Payment Solutions products by:
- Evaluating potential new products and the financial and credit risks involved, product enhancements, sales strategies, positioning alternatives, advertising/promotional/direct marketing plans, pricing plans, streamlining of delivery costs, and product distribution systems
- Reviewing and directing the development of strategic proposals and business cases that fit into overall department, division, and Bank objectives
- Establishing revenue and sales forecasts for products and services, standard profitability objectives for each product including setting standard prices, monitoring profitability performance and discounts.
- Identifying, recommending, and negotiating with strategic alliances, partners, third party suppliers and/or acquisition targets to improve product functionality or profitability
- Recommending strategies aligned with market opportunities, technology developments and business practices
- Directing the implementation of all strategic and tactical business plans to ensure the achievement of business objectives
- Recommending solutions to address financial and business viability and risk management opportunities
- Assessing product demand and supply factors; determining key issues and opportunities and recommending specific business objectives
- Developing profit plan projections
- Designing financial analytical models incorporating risk, cost, budgets, and financial consequences
- Direct the execution of full cycle product management for the assigned portfolio by:
- Directing the process of product development to ensure competitive and comprehensive products and services within the assigned portfolio
- Ensuring that local and global focus is recognized in the customer-centric products and services offered under their mandate, that they are competitively positioned through their lifecycle, business and operational risks are evaluated and monitored, costs are controlled, and profitability is maximized
- Overseeing and managing the development and implementation of approved projects
- Managing the overall projects by identifying milestones, timing and resources required to complete the project, providing updates and communication regarding progress relative to goals, new developments and issues
- Managing new product planning, analysis of markets and product development
- Developing product and service business cases through development of value propositions, product positioning and strategy formulation
- Ensuring all products and services are in compliance with the countries, regulatory requirements and local payment system rules, AML legislation, SOX Compliance, US Patriot Act and any other compliance or regulatory guidelines applicable to products and services under their mandate
- Managing the product development process including product definition, client experience, product market testing and product launches
- Directing the production of systems requirement documents for systems development; ensuring business specification and requirements are accurately prepared, meet the needs of the customer / client group and provide all required information to develop and support system and operational enhancements
- Where required, lobbying with internal and external stakeholders to obtain buy-in and resources to proceed with product and services projects Insert specific role accountability (as opposed to your annual deliverables) that outlines a significant aspect of the job and how it is achieved.
- Direct the execution of product plans for existing products and provide sales, customer service support, technical product expertise and risk management expertise to the field by:
- Reviewing and analyzing performance of existing product lines to ensure performance is meeting expectations
- Collaborating with Strategic Pricing on all non-standard pricing authorizations
- Ensuring committed enhancements and developments are delivered to satisfy the customer's business and operational needs
- Ensuring up to date information is provided to field staff and users through sales aids, brochures, manuals, and documentation and/or information seminars
- Directing the development of promotional plans and marketing campaigns
- Providing signoff on marketing, sales, and support materials
- Directing the development and delivery of sales training materials, programs, periodic newsletters, circulars, procedural guidelines/operating procedures so that up-to-date information is provided to field
- Developing, executing, and facilitating training information seminars in partnership with the different country Directors
- Formulating and communicating the risk policies and strategic objectives to the field
- Providing direction and authorization on issues with policy implications
- Escalating issues and recommendations to senior management to address situations where the Bank has risk exposures
- Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions
- Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank's Values, its Code of Conduct, and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
Education and Experience:
- Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviors; communicating vison/values/business strategy; and managing succession and development planning for the team.
- Degree / post graduate degree, preferably in business or technology
- 10+ years' experience in New Payment Solutions, or in-depth understanding of the global payments' marketplace and regulatory environment
- In-depth understanding of the payment products marketplace and regulatory environment; government/payment associations; political direction with knowledge of wide range of business, regulatory, technical, and political issues that are often multi-level and complex in nature.
- In-depth understanding of delivery networks of financial products and services within the context of the Bank's sales and service strategies across the various delivery channels.
- A broad understanding of the range of products, policies, and delivery capabilities by Scotiabank as this position is highly focused on the enterprise-wide business and regulatory mandates
- Strong understanding of the effect that change or new products, systems and regulatory requirements will have on existing operations and client offerings.
- Excellent written & oral communication skills are required to deliver strong business focused plans, presentations, and the negotiation of deals.
- Strategic and pragmatic thinking to devise/develop business and risk management plans, develop and negotiate long-term vision and direction of the global payment portfolio
- Strong decision making, forward thinking and creative problem-solving skills to anticipate and respond quickly to technological/market influences. Make difficult decisions in pursuing the development of a well conceptualized defined strategic agenda.
- Results oriented and innovative in identifying and pursuing opportunities to leverage capabilities to increase revenues, decrease costs and mitigate risks.
- Spanish is an asset
Location(s): Canada : Ontario : Toronto
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
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