City : Toronto

Category : Full time

Industry : Financial Services

Employer : Interac

Director, Product Strategy

This is a senior leadership role with P&L responsibilities, overseeing the Product Development and Product Management of key programs with a focus on growth vectors for existing products and delivery of new products and services. The Director is accountable for developing product objectives, strategies, target markets and investment initiatives, with a one-to-five-year planning horizon, that supports the strategic objectives of the Interac Corporation.  The Director is responsible for defining product strategy and will manage a cross-functional team, collaborating with internal business units to deliver product solutions from conceptualization to delivery. This role will prioritize new features & capabilities, build product roadmaps with a focus on growth areas, including mobility and loyalty. Specific knowledge in managing payment networks, EMV Chip, contactless card solutions and partnering with technical solution providers is required.

Key Accountabilities

 Product Management

• Lead the Product Management activities as per Interac’s approved Product Management Process.

• Manage P&L with close attention to achievement of revenue targets, cost targets and key performance metrics.

• Develop and execute annual plan, including product enhancement, product marketing, product growth, segment strategies, and annual budget.

• Lead the development of 3-5 Year Road Maps that encompass: analysis of current landscape (product performance metrics, market, competition, regulatory environment, customers, and technology); development of objectives and strategies to achieve objectives and initiative plans.

• Forecast and deliver product volume growth, drawing on market trend analysis, consumer behavior and economic factors.

• In conjunction with Client Solutions and Marketing/Communications, define the product adoption strategy necessary to achieve agreed business goals.

• In conjunction with Policy Management, develop and coordinate product-related policies, regulations, and procedures.

• Apply research findings, and utilize business and competitive intelligence, product analysis, stakeholder input and formal ideation processes.

• Generate ideas for new products, strategies, and service enhancements by collaborating with cross-functional teams to carry out and deliver insights and information needed to support the group’s business cases.

Product Development

• Lead the Product Development activities as per Interac’s approved Product Development Process.

• Propose and develop new products from opportunity assessment through ideation, validation, elaboration, delivery and product launch.

• Partner with internal stakeholders such as Project Management Office, Finance, Legal, Marketing, Operations, Security, Technology and Fraud to leverage and determine product line extensions including identifying new and existing Products, Services and/or technologies to develop new business opportunities.

• In conjunction with Technology partners, develop functional requirements for product solutions/enhancements.

• Build competitive intelligence – monitor competitive environment to determine new developments; recommended actions needed to maintain and improve Interac’s market position.

Business Leadership

• Embody the Organization’s and Product Management’s vision to generate excitement, enthusiasm, and commitment to action and continuous improvement.

• Manage and develop a team of 2 Product Managers through guidance, development, and review of accomplishments of business goals against corporate commitments, and “notional” teams of project SME’s, partners and consultants as required.

• Set clear and definitive goals, strategies, product positioning and execution plans. Successfully socialize all of these activities with both internal and external stakeholders.

• Create an environment that is highly responsive to change and engagement of stakeholders.

Project Leadership

• Work with Interac Project Management Office to deliver agreed projects in full, on time, on budget, and with agreed benefits in accordance with corporate methodologies

• Actively sponsor and execute projects from <$1m to $10m + in cost, following the Interac Delivery Model.

• Embrace and role model the Product Development and Lifecycle Management Processes, stage gates, and a disciplined approach to product development.

Product Strategy, Planning, & Development

• Lead analytical activities, developing appropriate analytic frameworks and scoping the work plans to deliver high quality Market Requirements, Business Requirements and Business Cases.

• Own and improve the department Product Management Process and integration with Client Management.

• Lead and maintain product policies.

• Determine and recommend alliances, partnerships, vendor contracts and work with the appropriate colleagues to deliver these.

• Scope Product Management and Product Development projects, including Project Charters, to deliver target growth of the product line over the short, medium, and long-term.

Business Interactions

• Product Management Leads.

• Client Solutions, Finance, Project Management Office, Operations, Security, Technology, Fraud, Chief Data Office, Legal, Compliance and Regulations.

• Business Unit Leads.

• Clients, partners, third party stakeholders.

• Presentations to Executive Committee; financial institutions, merchants, acquirers, senior stakeholders as required.

Skills/Competencies Required

• Ability to interact with and influence senior management with strong product vision.

• Possesses strong analytical and problem-solving skills with a healthy respect for meaningful business process.

• Strong working knowledge of core technologies, including EMV, ISO 20022 and other emerging financial services standards.

• Ability to navigate conflicting priorities in a fast-changing environment.

• Excellent written and verbal communicator to small & large groups, from the CEO to front line.

• Strong working knowledge of agile development methodologies.

• Solid understanding of the service industry, preferably within the financial services industry, electronic channels, and payments.

• Demonstrates integrity, while having a business focused and detail-oriented mindset, while setting an example of positive leadership for the team.

• Excellent qualitative and quantitative commercial analytics.

• Skilled leader of teams of technical professionals.

Experience/Professional

• Professional designation and/or degree relevant to the role.

• Must be eligible to work for Interac Corp. in Canada in a Full Time Capacity

• Exposure to service industry, preferably within the finance services industry, electronic channels, and payments.

• 7+ years of product management experience at a senior level.

• Extensive product development and product management experience with a consistently strong track record of increasing responsibility and successes.

• Product P&L experience.