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Job Description

As part of BMO’s North American Retail & Small Business Payments department, the Partnerships, Pricing and Benefits team develops and manages key partnerships and benefits, with a mandate to develop and grow new partnerships and relevant products that align to our strategic vision and add value to the BMO cardholder experience.

The Sr Manager – Revenue Optimization leads a team that is accountable for three distinct areas of the business: (1) Pricing (2) MasterCard Governance, and (3) Value Added Services. 

Accountabilities:

Pricing:

• End-to-end ownership of pricing for retail and small business credit cards in Canada: including changes to interest rates, fees, rewards policies, and automated customer level pricing programs.
• Leadership of periodic pricing change initiatives – for example changes to product interest rates or fees, changes to risk based pricing programs.  This team is responsible for leading the full cycle of product changes: ideation, socialization with stakeholders, leadership approval, implementation and testing, measurement and reporting, etc.
• Customer experience improvements: working with the NARP customer experience team and stakeholders in Virtual Connect to identify opportunities to increase NPS as it relates to customer pricing – both in terms of managing pricing changes and ongoing issues related to customer pricing elements.
• Financial Management: collaborating with NARP finance team to track key revenue drivers and provide input on forecasting and financial results in key lines such as FX revenue, fee revenue, interest, etc.

MasterCard Governance

• The Sr Manager is accountable to manage BMO’s partnership with MasterCard on behalf of North American Retail Payments and other areas of the bank. 
• The incumbent will develop and execute a partnership management strategy designed to optimize BMO’s financial performance, risk management, and customer experience through its partnership with MasterCard. The incumbent will also support team members in the creation and execution of effective governance strategies for other critical partnerships.
• This part of the role has four key elements:

i) Relationship Management:

The incumbent serves as the primary day-to-day contact for internal and partner stakeholders on the Mastercard relationship.  This includes: working with senior BMO leaders to develop and execute strategies and plans to maximize value from this important partnership; supporting contract negotiations; nurturing the partnership and acting as MasterCard’s primary point of contact at BMO; leading work within BMO related to managing the MasterCard relationship and acting as the primary point of contact and subject matter expert for BMO colleagues on matters related to the MasterCard partnership.

ii) Operational planning and Performance Management

Accountable for managing all contractual and partnership management obligations and ensuring both BMO and Mastercard are performing effectively against business objectives.  This includes effective performance management of the Partner and ensuring that all key performance indicators (KPIs) and service level agreements (SLAs) are met.  It also includes working with MasterCard and internal stakeholders to optimize the relationship and its operations, and to resolve any issues that arise. The incumbent will also support colleagues in developing and executing effective partnership governance frameworks for other critical partners, including monitoring partner performance, identifying opportunities to improve and addressing performance issues.

iii) Risk & Control

The incumbent is accountable to introduce and sustain controls to manage Contract, Legal, Outsourcing and Operational Risks.  This includes developing a deep understanding of the risks of the relationship, putting in place effective controls to mitigate any risks, monitoring performance and key risk indicators to identify any concerns and addressing any key risks that materialize.

iv) Financial Management

The incumbent is accountable for effective financial management of the MasterCard partnership. This includes developing a deep understanding of all contract financial drivers, working with Finance and other stakeholders to build an effective governance framework to forecast results, validate invoices and report performance, and proactively identifying and pursuing opportunities to improve financial performance.

The incumbent will also support colleagues in developing and executing effective financial governance frameworks and controls for other critical partners.

Value Added Services

• Management of a set of cardholder benefits and value-added services that are available to all credit card holders – including but not limited to: Concierge services, identity protection, airport lounges, mobile device insurance, embedded roadside assistance etc.
• Leadership of the Value-added services strategy refresh – as part of NARPs Ambition 2025 strategy, a new strategy was developed to optimize, refresh and innovate in the space of value added services.
• Effectively manage all contractual and supplier management requirements for existing and new partners
• Liaise with other lines of business including other areas of the payments team (Acquisition, Small Business, Customer Engagement) and more broadly across the bank (Segments, other product groups)
• Manage risk related to the portfolio and ensure compliance with all laws, rules and BMO policies
• Customer experience: assistance in resolving customer escalations related to value-added services, and implementing changes to processes to avoid customer issues.

Qualifications:

Knowledge

• 4-6 years financial management experience
• 2–3 years partner relationship management experience
• 2–3 years payments experience preferred
• Strong track record delivering results in ambiguous and challenging situations
• P&L management experience
• Minimum undergraduate university degree, an MBA or other post-graduate degree, or equivalent industry related experience preferred
• BMO organizational knowledge an asset
• Risk management experience an asset
• Project management experience an asset

Skills

• Excellent business acumen and strategic planning
• Proven ability to establish conducive working relationships with partners and managers across different business units and groups
• Proven ability to influence without authority and drive change
• Excellent communication skills (oral and written) with ability to frame and effectively communicate complex problems
• Excellent problem solving skills
• Strong financial, quantitative, analytic and business casing skills
• Proven ability to manage multiple facets of a complex business and effectively prioritize most important business levers and initiatives
• Strong time management and project management skills
• Team-oriented, collaborative and flexible
• Leadership skills
• Strong attention to detail

Salary: