| Purpose The Vice President, Credit Card Products & Partnerships (The VP), provides strategic direction, leadership and oversight for the Retail Banking Credit Cards portfolio in Canada ensuring business strategies, plans and initiatives are delivered in compliance with governing regulations, internal policies and procedures. Accountabilities Strategic Direction and Leadership: - Provides strategic direction, leadership, and oversight for the Credit Cards portfolio in Canada.
- Accountability for delivering on Credit Card Strategic Investment Pool (SIP) projects for new products and refreshes of the existing suite
- Ensures business strategies, plans, and initiatives are delivered in compliance with governing regulations, internal policies, and procedures.
P/L & Portfolio Management: - Lead and manage P&L for the Credit Cards portfolio including Scene+, Cashback, Low Rate and Small Business ensuring revenue growth, profitability, and cost efficiency.
- Leads overall portfolio management strategy to actively monitor and improve profitability
- Monitor key financial metrics including revenues, expenses, and margins, and make strategic adjustments to achieve business targets.
Collaboration and Partnership: - Manages the key Loyalty and Embedded benefits partner relationships including Empire, Home Hardware, Manulife, Ten Concierge, Windmill, DragonPass Lounges, etc.
- Actively pursue and identify opportunities to improve profitability and benefits from each of these relationships
- Partners across the Canadian Bank ecosystem to identify revenue opportunities.
Pricing: - Leads strategic pricing decisions of the credit card portfolio
- Drive pricing strategies in alignment with market competitiveness and product profitability.
- Pricing initiatives inclusive of but not limited to Balance Transfers, APR changes & other fee changes across all products i.e. Scene+, Cashback, Low rate and SB products.
Customer-Centric Orientation: - Leverages a customer-centric orientation to strengthen Retail Bank returns and achieve shared scorecards metrics.
- Identifies and delivers on strategic opportunities to support Credit Card portfolio growth ambitions across shareholder and customer dimensions.
Team Leadership: - Leads the Credit Card Team with a customer and Bank-wide orientation to attract, engage, and retain customers.
- 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.
Risk Management: - Directs day-to-day activities in a manner consistent with the Bank's risk culture and the relevant risk appetite statement and limits.
- Communicates the Bank's risk culture and risk appetite statement throughout their teams.
- Ensures the adequacy, adherence to, and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk, and conduct risk.
Education/Experience - 15+ years of experience in product strategy, product management, and P&L management, particularly in consumer lending.
- Proven experience in managing consumer products with strong financial acumen and focus on P&L accountability, with experience in credit cards a must.
- Demonstrated experience in driving product growth through strategic pricing, marketing, and product development.
- Strong leadership, analytical, and communication skills, with the ability to influence and lead cross-functional teams.
- Experience in managing digital transformation initiatives and improving customer experiences in digital channels.
- Bachelor's degree in business, finance, marketing, or related fields. MBA or advanced degree preferred.
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