Director, Transaction Banking Payments Product (Cheque and Cash Payments)

CIBC•Toronto, ON

1d•Hybrid

About The Position

The Transaction Banking Payments Product team provides strategic solutions to our clients through the development of innovative Cash Management & Global Banking products and implementation services. In alignment with the overall CIBC strategy, Transaction Banking also offers flexible and highly competitive business solutions promoting positive, profitable relationships for CIBC small business, commercial and large corporate clients. As the Director, Cheque and Cash Payments, you will be responsible for developing, leading, and executing on a portfolio of the Business Payment Strategy, in particular Cash Management products and services such as Cheques Management, e-Deposit for Cheques, Cash Automation and Lockbox. You will also be responsible for the leadership and management of product managers supporting both existing products and innovations to achieve revenue growth, market penetration, and profitability through the implementation of strategic and tactical initiatives, while ensuring support for frontline sales and operational teams. At CIBC, we enable the work environment most optimal for you to thrive in your role. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview.

Requirements

Strong knowledge of business payments products and services.
Excellent knowledge and experience in Treasury and Cash Management.
Demonstrated experience with communications to sales professionals and clients.
Ability to plan, lead, and co-ordinate a number of concurrent strategic projects, initiatives and non-routine activities involving innovative approaches and a strategic orientation.
Strong analytical skills, with a proven ability to gather, synthesize, analyze and interpret data and information and formulate appropriate insights, options and recommendations.
Well-developed people management and team building skills.
Demonstrated ability to provide strategic direction, lead, manage and motivate people.
Strong organizational skills, including planning, initiation, delivery and review; working knowledge of project management practices and procedures.
Ability to make decisions independently, with minimal direction, in order to respond to changing business priorities, and to represent the relevant business sponsor as required.
Strong influencing, negotiating and communication skills with the ability to build, collaborate with and lead working teams of members from different areas of CIBC, and build and maintain effective working relationships.
Results-oriented. Consistently delivering results, goal-oriented and end-product driven, effective under pressure and against tight deadlines.
Creative and innovative thinking.
Quick to identify issues and underlying problems.
Efficient at assembling data, structuring information and executing rigorous analysis.
Employs good judgment in making decisions and recommendations.
Strong teamwork, interpersonal and partnering skills. Can lead and follow and integrate own ideas with those of others.
Strong presentation skills for an executive audience.
Values matter. Bring your real self to work and live our values – trust, teamwork and accountability.

Responsibilities

Accountable for assigned existing products, as well as projects and initiatives including the portfolio for Group Product Managers and Senior Product Managers.
Maximize profitable market share of assigned product portfolio and achieve or exceed revenue targets.
Guide the assigned team in best-in-class product management practices.
Ensure initiatives deliver sustainable revenue.
Ensure ongoing commitment and prioritization with key project and initiative stakeholders.
Direct and analyze market research and client feedback to ensure the envisioned products will be competitively positioned.
Where appropriate, develop and obtain approval of business cases outlining the project goals, terms of reference, resource requirements and associated costs, and a detailed cost-benefit analysis.
Develop and implement project plans and processes for strategic projects and initiatives, including user feedback and acceptance, consistency with organizational objectives and standards of quality, and establishing and meeting deadlines with regular feedback to ensure optimal performance.
Provide strong thought leadership for business Payables Solutions, including support of strategy development and tactical execution aligned with strategic roadmaps.
Provide support to the Senior Director, Commercial Payments Solutions by identifying and prioritizing strategic projects and initiatives supporting CIBC’s business payments strategy.
Provide support and guidance for strategic partners in the bank in identifying new markets to be entered, understanding the market’s business requirements, and determining the required receivables products and services to be offered.
Review, analyze, assess and approve options and proposals regarding strategy initiatives and projects and make decisions and/or authoritative recommendations to the Leadership Team regarding their impact, effectiveness, feasibility and alignment to overall business strategies.
Participate in assigned industry events and committees (e.g. Payments Canada, Interac, etc.).
Provide leadership and effective management of business unit staff to influence employee commitment to the organization, to the team, and to their job.
Set appropriate context when assigning work to ensure that individuals’ roles support the achievement of the business unit’s priorities and CIBC’s overall goals.
Oversee and build team and individual capabilities by providing development opportunities such as job shadowing, special projects, and training.
Manage performance by providing fair and accurate formal and informal feedback, identifying and removing obstacles to performance and by explaining how performance expectations align with business priorities.
Guide the development of product management disciplines and strategic thinking competencies among team members.
Create a positive work environment and be an effective role model by championing CIBC’s mission, vision and values ensuring compliance with policies, standards, guidelines and controls by applying the policies and controls fairly and consistently so employees understand what to expect.
Hire the right people in the right jobs to align individual capabilities with job requirements and business unit goals.
Partner with appropriate internal / external partners and stakeholders in determining recommendations related to strategic initiatives.
Partner with Commercial Banking Technology team and other stakeholders on the Business Payments Strategy, and with Retail Banking on the overall CIBC Payments Strategy.
Conduct and deliver analysis that presents comprehensive views on business challenges and support recommendations, approaches and solutions; convince / influence stakeholders to adopt recommendations or new approaches.
Ensure organizational risk and opportunities are identified and raised for consideration in the analysis, assessment and formulation of strategic projects and initiatives.
Develop and obtain approval of project and initiative material outlining the project goals, deliverables, any new and material risks and risk mitigation steps.
Monitor the regulatory environment and ensure all products and processes meet regulatory and legislative requirements.

Benefits

Competitive salary
Incentive pay
Banking benefits
Benefits program
Defined benefit pension plan
Employee share purchase plan
Vacation offering
Wellbeing support
MomentMakers, our social, points-based recognition program
Purpose Day; a paid day off dedicated for you to use to invest in your growth and development