Payments & Receivables Product Manager Job at Citi – Johannesburg, Gauteng

The payment and receivables landscape in South Africa is fast evolving, driven in many parts by nascent technology, regulation, innovation and entry of dynamic non bank participants into the marketplace. These changes have catalysed the modernization of the National Payment System and the concomitant digitzation of traditional payment products. It has equally fuelled growth in Alternative Payments and E-Commerce and recently open banking and digital currencies. To take advantage of these changes, clients are also aggressively recalibrating their business models and adopting new products and solutions that introduce efficiencies, visibility and control.

These factors come together to create a dynamic, competitive and challenging market place that requires undiluted focus of a P&R product manager in order for Citi to maintain and grow wallet share and position as a leader in this space. This role will report to the TTS Head and will work actively with the SSA P&R Products Manager and partners in the region to provide subject matter expertise support to the cash management product team in the country. It is a critical partner to the Corporate & FI sales organization in providing content and expertize in deal structuring / commercialization. Its functions also include:

1. Managing (end-to-end) the bank’s payment products with a view to significantly growing share of wallet of our customers’ cash management business and the corresponding revenues.

2. Identifying payment opportunities in the South African market and develop products and processes with a view to significantly encourage the customers to adopt electronic payment methods and digitization initiatives. This will enable straight through processing thereby increasing the capacity of the bank to offer payment services to its customers, reduce operational costs to the bank and increase margins on payment products.

3. Develop partnerships with payment service providers to enable Citi indirectly access mass payment flows and opportunities in non-target market segments of the system.

4. Identify and aggressively drive growth and penetration of new payment channel opportunities in South Africa. Introduce, deploy and drive penetration of file services to improve Citi’s payment proposition.

Key responsibilities:
Leads the overall performance of payments & receivables product suite, and monitors performance drivers for the products and portfolios

Manages the investment spend strategy and process for incremental and strategic projects

Leads a team that is responsible for the ongoing performance and maintenance of P& R products, including client experience, pricing, risk and distribution

Ensures robust connectivity between the cluster and the regional product teams, by communicating important & emerging client, market, regulatory and strategic developments from the cluster to the region, and from the region and global teams, into the cluster teams.

Ensures sales and relationship managers are trained, and ready to identify client needs, and proposes solutions in line with business objectives

Shapes and implements performance improvement strategies, with a specific focus on cross-sell and integration, including the development of competitive analyses, market analyses, product development road maps, market plans, pricing strategies and product line extensions

Champions change by leading innovation through Partnerships and Alliances to quicken product development and commercialization

Keeps abreast of important developments in financial market infrastructures in the cluster, and shapes Citi’s position and voice to achieve progressive development

Provides subject matter expertise and leadership to in-country product leads, through consistent coaching & upskilling, exposure to new solutions, product risk management

Partners closely with sales teams to identify client opportunities and with the client management organization to meet with prospective clients and to size new opportunities

Gathers market intelligence and develops sophisticated market sizing studies to identify the attractiveness of particular markets segments and product offerings

Defines and analyzes sector trends, opportunities and issues, and creates business cases to drive investment decisions.

Represent customer needs and provide strategic direction on product development features, functionality and overall competitiveness

Build consensus and awareness of value proposition throughout the organization and key partners

Ensures products are well represented in the distribution channel and to drive various initiatives for growth in specific verticals

Develops and enhances Product Approval Programs and related processes, ensures products are delivered and adhere to all parameters globally

Collaborates with cross-functional teams, including technology, operations, legal, implementations, and sales to deliver solutions for Citi clients

Analyzes vertical/product specific P&L’s to ensure goals are being met

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, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.

Development Value:
Manage and coordinate the complexities of multiple geographies and diverse cultures, while leading seasoned leaders. Strong pathway to Regional Product or TTS Cluster leadership opportunity. Exposures to senior stakeholders, influencing strategic thinking and direction. Grow interpersonal skills through multi-geography exposure to partners, build an expansive network within the TTS organization and expand product knowledge and breadth across all the activity spaces and products within TTS and its key partners.

Knowledge/ experience:
15+ years of experience, including 8+ years’ in leadership or managerial roles

Demonstrated experience in Product Management and/or Product Development discipline

Exceptional understanding of Cash products particularly those in the PnR product suite,

Experience in and understanding of new technology developments, their applications and how those enable product delivery

Deep understanding of PnR/ banking products, banking infrastructure and processes

Deep understanding of financial markets infrastructure , regulatory landscape and important emerging developments.

Experience or understanding of e-commerce solution capabilities advantageous

Proven track record of success in positions requiring financial acumen

Experience with and confidence in delivering presentations to clients and senior managers

Prior ownership and management of a budgetary process, as well as P&L with a proven track record as an action oriented individual, with an ability to synthesize, prioritize, and drive financial results with urgency, and strategic analytical & critical thinking skills.

Proven ability to spot and develop opportunities to build alliances and partnerships so as to drive innovative solutions ,

Deep, broad and diverse functional experience (e.g., marketing, credit, acquisitions, product development and analytics) with a strong track record of driving business innovation and leveraging management information and data analytics to drive results

Proven track record as an action-oriented individual who has led cross-functional teams to define and achieve high value business objectives and ability to work independently, with follow through and capable of owning and managing projects from end-to-end;

Significant experience in serving a range of clients and in dealing with senior levels of client management

Proven analytical, presentation and communication skills with an ability to explain complex concepts in a compelling way

Product development skills and a commercial acumen with a proven track record of successfully bringing products to market

Exceptional interpersonal skills with ability to influence and build consensus.

Exceptional speaking and written communication skills

  • Proven Project Management and execution skills

Strong listening skills and ability to influence key stakeholders.

  • Exhibits credibility, flexibility and authenticity when communicating with clients, internal partners, regulators, media, and other key stakeholders.
  • Proven track record of developing and executing product growth strategies

Technical Competencies

  • Demonstrates a sound knowledge of Payments product range, including alternative payment methods
  • Demonstrates a full appreciation for product launch best practices, product risk management, Payment System Risk Management etc
  • Strong Product management and analytical skills
  • Familiar with innovation strategies
  • Strategic Communication and Influencing

Builds strong and lasting relationships with clients and partners.

  • Navigates internal and external networks to drive value for clients and the Firm.
  • Identifies cross-sell / multi-product solutions that optimize client experience and meet returns
  • Inspires, Catalyzes and informs through all communications, written, verbal or virtual
  • Leverages social media and digital solutions as appropriate
  • Demonstrates high curiosity & creativity when seeking new customer value propositions to meet unmet customer needs
  • Demonstrates the ability to communicate & motivate upwards, across and into teams in motivating attention and action

Risk, Finance and Controls

  • Familiar with Citi’s risk culture, risk and finance frameworks and their application at a legal entity, cluster and country level.
  • Sound understanding of credit, interest rate, liquidity, operational, reputation, strategic and compliance risks
  • Demonstrates expertise, balance and pragmatism to ensure solution delivery is done with the highest respect for safety and soundness
  • Promotes and embodies a culture of a strong controls
  • Demonstrates ability to generate, evaluate and execute optimisation strategies

Governance and Culture

  • Familiar with Citi’s franchise governance frameworks and ensures timely issue escalation
  • Creates alignment between the global strategy and local execution.
  • Strengthens relationships with external stakeholders, including regulators.
  • Is able to articulate the organisational culture and adapt it to the local context
  • Holds self and others accountable to working in a manner that is team oriented, collaborative, and responsible

First degree in a numerate discipline. MBA or Professional Accounting qualification is an added advantage

  • Candidates must also have a minimum of 15 years post graduation experience, out of which at least 10 must have been in the banking industry

Exceptional speaking and written communication skills.

Strong listening skills and ability to influence key stakeholders.

Exhibits credibility, flexibility and authenticity when communicating with clients, employees, internal partners, regulators, media, and other key stakeholders

Job Family Group:
Product Management and Development

Job Family:
Product Performance Management

Time Type:
Full time

Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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About the Company

Company: Citi –

Company Location:  Johannesburg, Gauteng

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