Vice President, Payments
Overview:
The Vice President, Payments is responsible for the architecture and vision of Truliant’s enterprise card payment strategy and card payment transformation. This role will oversee credit and debit card portfolio development, participation, profitability, roll-out and testing to ensure overall contribution to the organization. In addition, this role will provide vision, leadership, and direction in the planning and implementation of organizational goals and priorities, effective processes and technology that support digital payment enhancements that contribute to an improved and sustainable overall member experience.
The VP, Payments conducts comparative analysis against competitors and provides strategic planning of payment products direction and features, vendor management, disclosure management, budgeting, promotions, and product marketing. This role will manage and influence all aspects of card product lifecycles, including business and risk analysis. Responsibilities also include monitoring and maintaining existing portfolios by ensuring product offerings are competitive, current, member segment applicable, and meet member experience expectations. This role develops and implements strategic plans for the program and facilitates close partnerships with internal and external partners.
Essential functions and responsibilities:
• Serves as member of the Senior Management Team (SMT) to direct overall card services operations and strategy through active participation with Senior Management, Board of Directors, external service organizations and vendors.
• Provides vision, leadership and direction in the planning and implementation of credit union card programs.
• Manages relationships with our issuing partners and cross-functional support staff, and designs and executes on a clearly defined strategy for the continued build and growth of the card business.
• Identifies new opportunities and strategies to drive and incorporate new feature functionality to expand usage of debit, credit and digital payment products.
• Develops and executes payment product strategy, market expansion, and go-to-market activities across multiple key payment initiatives.
• In compliance with federal regulations, creates portfolio management strategies to maximize portfolio growth across all member contact points; collaborates with internal departments as needed in the execution of such strategies.
• Designs, develops and oversees cardholder management programs including: credit line increase programs, new and dormant account activation, account upgrade strategies, and balance build campaigns. Accountable for all credit card balance transfer programs for new and existing members.
• Accountable for portfolio yield management and pricing initiatives including seasonal promotions and utilization campaigns. Accountable for the management of all customer rewards programs, including responsibility for rewards expense budget and reserve, pricing of offerings, promotion, and working with third party vendors including fulfillment agencies.
• Identifies pain points and opportunities within our member experience and product offering. Recommends enhancements and work to deliver measurable improvements to create an exceptional payment experience.
• Partners with Chief Digital Officer to strengthen control strategies, enhancements in credit policy, and portfolio-wide analytics and reporting. Partners closely with risk teams to identify opportunities within current credit strategies to optimize risk/reward trade-offs.
• Provides recommendations to management on policies, process improvements, quality and compliance controls.
• Ensures all credit card lending activity is in compliance with established policies and regulations. Also ensures that credit card lending procedures are maintained up to date.
• Keeps management informed regarding key operational issues affecting the department or the Credit Union.
• Maintains exemplary relationships with Truliant’s key vendors and partners to ensure optimal experience for Truliant’s members.
• Monitors departmental projects/tasks and establishes priorities to maximize effectiveness and efficiency.
• Participates in the annual review process, including writing and delivering reviews.
• Interviews candidates for open positions, as needed.
• Assists in developing department budget and is responsible for adhering to fiscal guidelines.
Knowledge, skills, and abilities:
• Must have extensive knowledge of credit and payment processing systems, and working knowledge of loan portfolio management
• Must have expertise in defining and building out Product strategy and roadmap
• Must have thorough understanding of digital and mobile payments
• Must have advanced understanding of credit union operations, financial products, services and delivery systems
• Must have excellent communication skills in English, both verbal and written
• Must have superior interpersonal skills; ability to get along with diverse personalities; tactful, mature, flexible, compassionate
• Must understand and have knowledge of Visa Inc’s Operating Rules and Regulations
• Must have strong mathematical skills
• Must be able to resolve member disputes and coach others
• Must be able to lead and motivate teams
• Must have PC skills, with intermediate level knowledge on Microsoft Excel and Word
• Must have ability to work well under pressure in a goal oriented environment
• Must have ability to understand all business processes within the credit union
• Must be detail oriented and well organized, with the ability to multi-task
• Must be able to work in a general office environment
• Must be flexible and able to shift resources and priorities as required
• Must be able to complete all assignments with minimal supervision
• Should possess a strong commitment to providing excellent service to Truliant’s membersMust have extensive knowledge of credit and payment processing systems, and working knowledge of
loan portfolio management
• Must have expertise in defining and building out Product strategy and roadmap
• Must have thorough understanding of digital and mobile payments
• Must have advanced understanding of credit union operations, financial products, services and delivery
systems
• Must have excellent communication skills in English, both verbal and written
• Must have superior interpersonal skills; ability to get along with diverse personalities; tactful, mature,
flexible, compassionate
• Must understand and have knowledge of Visa Inc’s Operating Rules and Regulations
• Must have strong mathematical skills
• Must be able to resolve member disputes and coach others
• Must be able to lead and motivate teams
• Must have PC skills, with intermediate level knowledge on Microsoft Excel and Word
• Must have ability to work well under pressure in a goal oriented environment
• Must have ability to understand all business processes within the credit union
• Must be detail oriented and well organized, with the ability to multi-task
• Must be able to work in a general office environment
• Must be flexible and able to shift resources and priorities as required
• Must be able to complete all assignments with minimal supervision
• Should possess a strong commitment to providing excellent service to Truliant’s members
Physical requirements:
• Occasional standing, walking, bending, and stooping required
• Must be able to sit at a desk for long periods of time and use a computer
• Must be able to moderately lift or move up to 10 pounds and occasionally lift or move up to 20 pounds
Knowledge, skills and abilities:
• Bachelor’s degree or equivalent work experience required
• 7+ years previous managerial experience required, 3 years of which in a senior management role
• Minimum of 3 years’ experience with credit and payment processing systems required
• 10+ years of experience in delivering and expanding credit or debit card portfolios and programs through material enhancements to operations required
• Experience in strategic growth or other relevant strategy experience, including but not limited to consumer credit card business model and technology disruption and digital transformation preferred
• 5-7 years financial industry experience preferred
