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Vice President, Payments

Company: Truliant Federal Credit Union
Location: Whitakers
Posted on: November 20, 2023

Job Description:

Truliant's mission is to improve lives by putting our members first, providing great service and straightforward financial solutions. Our core values of Member Focus, Service, Guidance, Relationships, and Community define how we interact with members to fulfill our mission of improving lives and providing a foundation on which we conduct ourselves. Our Promise to Our Teammates: Truliant strives to provide all teammates with an enjoyable place to work where they feel valued, empowered and rewarded for all that they do. Purpose of the Job
The Vice President, Payments is responsible for the architecture and vision of Truliant's enterprise card payment strategy and payment transformation. This role will oversee and execute the cards and payments business plan 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, and contribute to leadership decisions on key strategic and operational matters of the Truliant and its membership. This role will manage and influence all aspects of card and payment 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.
  • Leads, directs and controls the operational activities of card services, payments and money movement for Truliant.
  • Evaluates payments performance and the program through business controls, processes, reporting and ongoing measurements.
  • Implements changes to improve program performance, efficiency and effectiveness.
  • 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.
  • Monitor and assess market trends of the payment product portfolio relevant delivery methods, member benefits, and profitability.
  • Develop, maintain and execute the payments roadmap.
  • Evaluate, recommend and implement opportunities to enhance our competitive position and member experience.
  • Partners with key organizational stakeholders to strengthen risk management and control strategies, enhancements in credit policy, and portfolio-wide analytics and reporting.
  • Partners closely with risk management to monitor risk and fraud management programs.
  • 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.
  • Lead strategic enterprise partnerships including payment and processing networks,.
  • Negotiate and manage cards and payment contracts.
  • Leads the annual performance review process for their team, 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. Other Duties and Responsibilities
    • Assists with other tasks and projects as assigned. Knowledge, Skills, and Abilities
      • Must have extensive knowledge of credit/debit card 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 payment card network 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 Education and Background
        • 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 card, debit card, or payment portfolios
            • 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 If you have a passion for member service and would like to invest in a meaningful career with opportunity for growth, we encourage you to apply to Truliant! As a member of the Truliant family, you will enjoy the following full time benefits:
              • No-cost employee Medical, dental, vision coverage
              • Prescription benefits (including mail order)
              • Paid holidays and Paid Time Off (PTO)
              • 401(k) plan with contribution matching
              • Retirement/pension plan
              • Paid community involvement volunteers hours
              • Paid group life Insurance
              • Teammate loan discounts
              • Tuition reimbursement
              • Short and long-term disability
              • Health & Wellness program
              • Teledoc (physician video conferencing)
              • Onsite fitness facilities or health club reimbursement
              • Employee Assistance Program (EAP)
              • Medical flexible spending account
              • Dependent care flexible spending account

Keywords: Truliant Federal Credit Union, Rocky Mount , Vice President, Payments, Executive , Whitakers, North Carolina

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