Real Time Payments (RTP) SME - New York, NY
Compensation: $52,550.00 - $94,120.00 /year *
Employment Type: Full-Time
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In 2017, U.S. Bank was one of the first two banks to send and receive a real time payment in the industry making itself first to market and presenting itself as a firm that wants to be first to market and a true innovator in the payment arena. The firm now wishes to take this early achievement to the next level. With significant infrastructural investments already made and the first RTPs sent and received, this person will drive the next stage of RTP development and help the bank make decisions about how to leverage the capability, develop new revenue streams, and how to use this initiative to drive U.S. Bank market positioning as a payments innovator and first to market around industry leading payment capabilities. As the payment landscape evolves beyond RTP, this person will evolve their work to include new payment formats and infrastructures in their strategy and product development work.
This role will work with the Head of Emerging payment and lead the strategy process and product development for U.S. Bank as it relates to emerging payments and customer behavior/demand across a variety of B2B and B2C use cases. It must also create the frameworks for the customer experience with real time payments, across all business lines and products, while evaluating market trends, legal/regulatory climate, product positioning, and pricing philosophy. Lines of business included in scope will initially include: Corporate and Commercial Banking, Payment Services, Consumer Banking Sales Support, Technology and Operations Services, and Wealth Management and Investment Services.
This person will engage actively with industry consortiums and utilities including The Clearing House, secure token exchange development (a multi-year initiative to improve payment security for cards, ACH, and Real Time Payments) and partners with the Head of Omni-channel to oversee the bank involvement in EWS/Zelle. This person will also engage with a range of fintechs to understand new capabilities and products coming to market, stay abreast of trends, and consider how new capabilities can be integrated into the bank to bring new products to market.
o Develop the bank's strategy for real time payments and other forms of emerging payments including assessing market opportunity, competitive offerings, customer needs, ROI, and the ability for the bank to differentiate itself and be seen by the market as an innovator across all relevant lines of business.
o Work closely with the Head of Emerging Payments, Senior Product Manager and support the New Payments Committees and present to the Vice Chairman of the various lines of business to understand their views, vet opportunities, socialize the strategy as it evolves and establish an over-arching U.S. Bank RTP strategy that is endorsed across the bank.
o Work with sales, product, business leaders, or other sources to identify and define customer needs and emerging trends that may meet these needs.
o Manage the development and maintenance of competitive analysis and market research for competitive offerings.
o Conduct research on product enhancements and new product offerings. Initiate product development cycle for agreed upon development initiatives. Work closely with Project Manager and other cross-functional team members in rollout of product enhancements/new product development.
o Keep abreast of technology and business changes and ensure appropriate steps are taken to meet requirements. Work closely with association relationship management to leverage relationships for U.S. Bank and our clients.
o Serve as subject matter expert to other support areas of the business including Sales, Relationship Management, Training, and Operations. Provide subject matter expertise on industry trends.
o Engage with C-Level executives from mid to small sized client firms and Executive level (SVP/EVP) positions from large to multi-national firms negotiating business arrangements with U.S. Bank.
o Engage with the Agile Product teams to provide guidance on RTP.
o Develop ISO implementation frameworks to be used for each of the Emerging Payment use cases
o The lines of business which will be in scope for analysis are:
* Payment Services (Retail Payment Solutions ("RPS"), Corporate Payment Solutions ("CPS"), Elavon)
* Retail & Consumer Banking
* Wealth Management & Security Services
What Would Be Expected Of You-
* Partner with business leaders to identify gaps in proposed roadmap and services, develop strategies to build or enhance those services, present proposed service enhancements to senior leadership
* Be the leading expert at US Bank for the ISO 20022 framework at US Bank
* Develop a framework to be used for each of the Emerging Payment use cases how do we leverage ISO 20022 or Zelle or another payment type.
* Contribute to the identification of potential solutions through gathering and analyzing market data, customer intelligence, competitive information, as well as internal capabilities and capacity
* Direct efforts to introduce new and emerging products/solutions and drive them from concept to delivery
* Assume leadership role in working with product leads/managers to develop business requirements, business case, including estimated revenues and costs for concepts
* Work with stakeholders to address governance, legal, payments policy, operating circular, credit, and compliance matters for the service
* Provide product expertise to support sales, marketing, industry inquiries, regulatory inquiries, workgroups, and industry events, as required
* Represent and or Support the FedNow, EWS, TCH within the US Bank and in the industry through various presentations, meetings, and conference participation
Expertise you would bring-
* A minimum of 10 years in Real-Time Payments Product Development is required
* Banking and payments experience, especially knowledge of RTP, EWS, ACH, FEDWIRE or equivalent networks like PayNet or global Faster Payments Schemes payments processing and formats, and clearing and settlement is required
* Understanding of the faster payments industry in the US and/or globally
* Previous management experience preferred
* Expertise in ISO20022 message standards, work flow management, payment fraud monitoring, or customer/industry directories is required
* Ability to effectively work remotely and across teams
It's added value if you have-
* MBA preferred and at least 10 years in financial services, payments, policy, or technology
* Strong analytical and problem-solving skills with demonstrated ability to quickly gather, analyze and synthesize information
* Strong written and verbal communication skills, with ability to express ideas in a clear, concise and compelling manner and tailor communications for different audiences
* Detail-oriented and capable self-starter with the ability to explore innovative ways to perform tasks in an efficient and timely manner as an individual and in a team environment
* Excellent relationship management and collaboration skills including the ability to influence and build consensus across teams; demonstrated experience delivering successful outcomes on projects involving multiple stakeholders with differing / diverging interests highly desired
* Ability to work independently in a remote team environment and to proactively identify product opportunities that arise related to business trends and market developments
* Strong project management skills to include organization, planning, and execution with the ability to manage various tasks simultaneously and work under tight deadlines with conflicting priorities, while providing high quality products* The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.
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