New Benefits Development, Vice President (Hybrid)

Citi • Schaumburg, IL

2d • Hybrid

About The Position

The Cardmember Access and Experiences team is responsible for designing and delivering experiences, perks and privileges for Citi cardmembers that differentiate Citi products and drive customer acquisition, engagement, and profitability. The New Benefits Development, Vice President role will support the sourcing, evaluation, and launch of new benefits partnerships and offerings that expand Citi’s Access and Experiences portfolio. This role requires an understanding of customer needs, market trends, and competitive dynamics to drive the strategic expansion of our benefits offerings. The VP will lead the end-to-end process from ideation to business case development, partner exploration, and foundational deal structuring, ensuring new benefits align with overall business objectives and enhance customer loyalty and engagement.

Requirements

• 6+ years of experience in product development, business development, strategic partnerships, or consulting, preferably within financial services, loyalty programs, or consumer products.
• Proven ability to identify, evaluate, and forge strategic partnerships.
• Strong analytical skills with the ability to synthesize complex information, identify key insights, and make data-driven recommendations.
• Excellent communication, negotiation, and influencing skills, with the ability to interact effectively with all levels of management and external partners.
• Ability to work independently, manage multiple projects simultaneously, and thrive in a fast-paced, dynamic environment.
• Bachelor’s/University degree or equivalent experience

Nice To Haves

• Deal experience is a significant plus.

Responsibilities

• Conduct comprehensive customer and market research to identify unmet needs, emerging trends, and white space opportunities for new benefits development within the US Consumer Cards landscape.
• Perform in-depth competitive analysis to benchmark Citi's current offerings, identify gaps, and uncover opportunities for differentiated and superior value propositions.
• Drive business development efforts to explore and identify potential partners for new benefits, including startups, established brands, and technology providers, negotiating terms and fostering strategic alliances.
• Develop robust business cases for new benefit concepts, including market sizing, financial projections, customer impact, operational feasibility, and risk assessments, to gain internal alignment and secure funding.
• Lead the exploration and evaluation of potential partners, conducting due diligence and assessing strategic fit to support the development and launch of innovative new benefits.
• Collaborate closely with internal product, marketing, legal, compliance, and technology teams to ensure seamless integration and launch readiness for new benefits.
• Present findings, recommendations, and business cases to senior leadership, articulating the strategic rationale and potential impact of proposed new benefits.
• Stay abreast of industry developments, technological advancements, and regulatory changes that may impact benefits strategy and development.

Benefits

• In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards.
• Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs.
• Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays.
• For additional information regarding Citi employee benefits, please visit citibenefits.com.
• Available offerings may vary by jurisdiction, job level, and date of hire.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees