Director, Day to Day Products

Scotiabank   •  

Toronto, ON

Industry: Financial Services


5 - 7 years

Posted 371 days ago

Purpose of Job:

Contributes to the overall success of Day to Day Banking in Canada by ensuring specific individual goals, plans and initiatives are executed / delivered in support of the team’s business strategies and objectives.  Ensures all activities are conducted in compliance with governing regulations, internal policies and procedures.

The Director, Day to Day Products is responsible for the development and refinement of all Day to Day Banking products, including bank accounts and their associated loyalty programs, as well as the sundry products attached to the Day to Day Banking business. 

The incumbent will deliver a product set and supporting policies and processes that maximize the financial performance of the business line while driving innovation, value and an excellent customer experience.   

The Director, Day to Day Products is in close collaboration with the Business Analytics and Acquisition & Engagement teams in order to strategically design products that align to the target customer segments within both the existing Scotiabank customer base and Canadian consumer base.

The incumbent is responsible for engaging and partnering with numerous third parties and suppliers involved in this business.  

Key Accountabilities

Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

Drives and optimizes product-line P&L:

  • Drive revenue from new and existing accounts
  • Drive expense management, including carving out a marketing budget and working with Finance and all internal and external partners in order to reduce structural costs
  • Partner with Business Analytics to assess product and segment performance, as well as develop product strategies to drive continued improvement
  • Collaborate across all teams with P&L levers, namely: Business Analytics, Acquisition & Engagement, Payments Products, and Digital Payments
  • Lead the end-to-end customer experience and related structural costs

Drives overall product strategy and development:

  • Lead in the design of market and product research
  • Develop and maintain a detailed assessment of the competitive landscape, in terms of competitor product offerings, pricing, benefits, etc.
  • Design and develop new products (including features, pricing, rewards, etc.)
  • Refine existing products (including features, pricing, rewards, etc.)
  • Lead in the creation of relevant and differentiated benefits and services, as appropriate, across the product line-up
  • With the Acquisitions & Engagements team, drive design and development of the overall go-to-market strategies for new products as well as usage stimulation strategies for existing products
  • Own third-party supplier management and the responsibility for contracts
  • In partnership with the Director, Payments Products, develop and manage specific loyalty and rewards program features and benefits aligned with P&L objectives


Builds and leverages partnerships across the Bank to deliver against business objectives and provide excellent customer service:

  • Act as a relationship manager between Day to Day Banking Products and each key partner

Direct 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.

Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas, while ensuring 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, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.

Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.

Functional Competencies:

  • 5+ years of management experience, preferably  in banking product and strategy roles
  • Thorough knowledge of the Canadian financial services marketplace and solid understanding of the Day to Day Banking market, products and services
  • Creative approach to product development and differentiation; ability to monitor wider market/consumer trends and tailor new products accordingly
  • Awareness of key environmental factors in the Day to Day Banking industry, including government and regulatory issues
  • Detailed understanding of Day to Day Bankingfinancials and P&L management
  • Excellent communication and long-term planning skills
  • Solid understanding of business operations and risk issues for Day to Day Banking products
  • Strong business and marketing acumen
  • Proven ability to influence and coordinate sometimes conflicting stakeholders    

Educational Requirements:

  • Bachelor’s degreerequired / MBA or other advanced degreepreferred.