Card Portfolio Manager

2 weeks ago

Cranbury, United States Member Support Services, LLC Full time
Job DescriptionJob Description

Role:

Responsible for managing and reporting on the credit and debit card programs for a consortium of two credit unions. This position will be responsible for building the program for growth and profitability while delivering a product of excellent value and servicing proficiency to the member base. Candidate will have responsibility for leading all elements of the program, including developing annual business plans (including any third party vendor relationship elements), maintaining a competitive product suite, development of pricing and other terms, execution of marketing campaigns across all channels and segments, analysis of program performance and opportunities, assistance in development of risk-management strategies, maintain program performance reporting by functional area as well as delivering management level reporting and analysis. Expected to stay abreast of industry trends, developments, risks, and opportunities. In addition, due to the position supporting two different credit unions with independent (though similar) programs, the position requires serving as a relationship conduit between each organization and both the program processing vendor and MasterCard.

This is role is within a jointly owned shared services organization, reporting to the Chief Operations Officer.

Expected Duties and Responsibilities:

1. Perform credit and debit card portfolio analysis and reporting by functional area, including product pricing & profitability analysis, marketing and product sales results, credit risk and fraud management, card holder behavior segmentation and related ad hoc reporting as opportunities and needs warrant.

2. Keep each credit union informed on industry trends and developments so as to support overall strategic thinking and guide investment decisions and priorities. Communicate industry developments on a proactive basis to senior management.

3. Serve as a relationship conduit to the processing vendor to keep each individual credit union briefed on relationship and functionality developments, coordinate vendor-resourced program marketing or management programs, advocate for the credit unions into the processor to facilitate issue resolution as necessary, or negotiate modifications to the services subscribed as needs evolve.

4. Serve as relationship conduit to Mastercard, including reconciliation of program performance to various elements of the incentive agreements, identification of any important variances to volume-driven incentives that threaten future payments, gathering relevant industry trend and other information for distribution into the individual credit unions. Coordinate period meetings with Mastercard relationship management for delivery of ongoing portfolio reporting and analysis commitments.

5. Work closely with Marketing staff at each credit union to monitor product line and sales channel results and coordinate organization to meeting channel specific goals. Assess performance of each channel, including marketing expense ROI where possible.

6. Develop portfolio and member base segmentation strategies to deliver the highest value to card holders while maximizing marketing program returns.

7. Actively manage the portfolio to provide maximum member value while maintaining appropriate financial returns, including portfolio and account pricing and terms review, credit score-to-risk matching, and repricing campaigns as required.

8. Develop annual business plans with incorporated forecasts for each credit union for debit and credit program performance. Work with credit union management to identify resources and timelines for execution required to meet forecasts.

9. Recognize and recommend appropriate credit risk strategies which balance growth, risk, and return.

10. Research and integrate economic factors, developments, and trends into analytical models.

11. Understand cardholder lifecycle management, recommend, and champion product development, product enhancements, product elimination, margin or retention improvement actions and additional new revenue opportunities.

12. Ensure product enhancement and new product development process is aligned with the member/industry needs, organizational resources, and current strategies.

Requirements:

1. Strong working knowledge and continuing update of knowledge of credit and debit cards and other banking products.

2. Excellent communication and presentation skills for the purpose of explaining programs, value, features, policies, and benefits across the organization to motivate program advocacy. Demonstrated ability to work across functional areas to motivate the organization to support the credit and debit cards programs.

3. Understanding of financial institution reporting including Profit & Loss reporting, Net Interest Margin and Risk analysis, Credit Risk Forecasting as well as ROA and ROI analytics.

4. Technical skills in financial analysis, data retrieval and manipulation, and a strong working knowledge of the Microsoft Office suite of applications. Database application experience a plus.

Required Experience and Skills:

Experience: Three plus years in managing and analyzing consumer lending products, including product development, cardholder lifecycle management, development of marketing initiatives, segmentation strategies, risk management analysis and understandings of consumer credit compliance environments.

Education: Bachelor's degree in Business Management, Finance, Marketing, or relevant field. MBA or further relevant work experience preferred.

Interpersonal Skills: Above average ability to work in a team across functional responsibilities and motivate staff with varying reporting lines critical. Proven ability to manage projects to deadlines and budgets.

Other Skills: Strong working knowledge and demonstrated use of Excel in a business environment, both for development of financial models and reports as well as database related functions for development of portfolio sensitivity and analysis tools. Requires familiarity with financial institution concepts and ability to work with mathematical concepts such as those necessary to update such spreadsheets, calculate such measures as Interest Yield and Margin, ROA, ROI, Net Income, and related.

Company DescriptionMember Support Services, LLC located in Cranbury, N.J., is a shared services Credit Union Service Organization that processes middle- and back-office operations for its shareholder credit unions.
Our credit union-owners realized annual aggregated savings of 24% from their operating costs when compared to their separate costs prior to the cooperative.

MSS was formed in 2013 to create operational efficiency and cost savings through economies of scale and standardization, while allowing credit unions to focus even more intently on serving their members. Shared services are commonly used in the global banking and insurance industries for the past 25 years to much success because it provides the organizations the ability to launch more robust initiatives than they could have on their own, substantial operational cost savings and a significant boost in negotiating power.Company DescriptionMember Support Services, LLC located in Cranbury, N.J., is a shared services Credit Union Service Organization that processes middle- and back-office operations for its shareholder credit unions. \r
Our credit union-owners realized annual aggregated savings of 24% from their operating costs when compared to their separate costs prior to the cooperative.\r
\r
MSS was formed in 2013 to create operational efficiency and cost savings through economies of scale and standardization, while allowing credit unions to focus even more intently on serving their members. Shared services are commonly used in the global banking and insurance industries for the past 25 years to much success because it provides the organizations the ability to launch more robust initiatives than they could have on their own, substantial operational cost savings and a significant boost in negotiating power.

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