Associate Vice President - Prepaid Payment Instrument - FinTech (15-16 yrs)

AVP- Prepaid Payment Instrument - for a leading Fintech organization

Job Summary:

- The Assistant Vice President (AVP) of Prepaid Payment Instruments will be responsible for overseeing and leading the strategy, development, and growth of prepaid payment products and services within the organization.

- This leadership role is key to driving the vision for the prepaid payment instrument portfolio, managing operational and regulatory compliance, optimizing product offerings, and ensuring the overall success of the prepaid business unit.

- The AVP will collaborate with cross-functional teams, including sales, marketing, technology, legal, and finance, to create competitive prepaid payment solutions that meet market demands and contribute to the company's growth objectives.

Key Responsibilities:

Leadership & Strategic Direction:

- Lead the vision and strategic direction for the prepaid payment instruments (PPI) portfolio, ensuring alignment with the company's overall business objectives.

- Define and implement long-term strategic plans to drive market penetration, innovation, and revenue growth in the prepaid payments space.

- Lead cross-functional teams to execute the strategic roadmap for prepaid products, ensuring effective execution and achievement of business goals.

Product Management & Development:

- Oversee the end-to-end management of prepaid payment products, including card products, digital wallets, corporate solutions, and government disbursements.

- Drive product innovation by identifying market trends, customer needs, and emerging technologies to enhance the prepaid payment portfolio.

- Work closely with product, technology, and marketing teams to launch new products, enhance existing offerings, and deliver value to customers.

Operational Excellence & Compliance:

- Ensure the prepaid product portfolio is compliant with relevant industry regulations (e.g., KYC/AML, data privacy, PSD2) and internal policies.

- Manage operational processes for the prepaid payment instruments business, including transaction processing, fraud prevention, and customer support.

- Identify and mitigate risks, ensuring robust fraud management and operational resilience within the prepaid product suite.

Business Development & Revenue Growth:

- Develop and lead business development efforts, including identifying strategic partnerships, new revenue streams, and business models to expand the prepaid products market.

- Build and nurture relationships with key industry stakeholders such as banks, fintech companies, payment processors, and regulators to foster business growth and collaboration.

- Monitor market trends and competitor activities to identify growth opportunities and competitive advantages.

Market Analysis & Competitor Intelligence:

- Conduct market research and competitor analysis to identify trends, market gaps, and customer needs in the prepaid payment space.

- Use insights to adapt and refine sales strategies, positioning, and product offerings.

- Stay up to date with industry regulations, payment trends, and emerging technologies, ensuring that the company remains competitive and compliant.

Financial Oversight & Performance Management:

- Oversee the financial management of the prepaid business unit, including budgeting, forecasting, P&L management, and profitability analysis.

- Drive initiatives to enhance financial performance, optimize costs, and improve product margins across the prepaid portfolio.

- Analyze key performance indicators (KPIs), market data, and financial metrics to make informed decisions and adjust strategy as needed.

Team Leadership & Development:

- Lead and mentor a team of senior managers and professionals across various functions, fostering a collaborative and results-driven culture.

- Ensure that the team is motivated, highly skilled, and capable of executing the company's strategic vision for prepaid payment products.

- Provide guidance and development opportunities for direct reports and other team members to help them grow professionally.

Customer Experience & Market Insights:

- Ensure the delivery of an exceptional customer experience by aligning product development with customer needs and preferences.

- Gather market insights, customer feedback, and analytics to continuously improve prepaid product offerings and meet evolving consumer and business demands.

- Leverage customer data and research to refine product strategies and identify opportunities for innovation and differentiation.

Regulatory and Industry Advocacy:

- Serve as a key representative for the company in discussions with regulators, industry groups, and payment networks to stay ahead of regulatory changes and ensure compliance.

- Advocate for the company's interests in the prepaid payment sector, promoting the organization's thought leadership and contributing to industry standards and policy development.

Collaboration with Cross-functional Teams:

- Work closely with marketing, technology, sales, legal, and customer service teams to ensure seamless integration and execution of prepaid products across channels.

- Collaborate with senior leadership to align the prepaid payments strategy with broader company objectives and initiatives.

Desired Candidate Profile:

- MBA/Postgraduate in Business, Finance or Marketing or another relevant field.

- 15+ years of experience in the financial services, payments, or fintech industry, with at least 5 years in senior leadership roles focused on prepaid payments, digital wallets, or financial products.

- Extensive knowledge of prepaid payment instruments, payment processing, regulatory requirements (KYC/AML), and the broader financial technology ecosystem.

- Experience with digital wallets, mobile payments, and cryptocurrency solutions.

- Familiarity with global payment trends and the regulatory landscape across multiple regions.

- Knowledge of data analytics, fraud prevention, and security in financial products.

- Established network within the prepaid payments, banking, or fintech industry.

- Proven track record in leading and growing prepaid payment portfolios, including experience with product innovation, market expansion, and P&L management.

- Exceptional strategic thinking, business acumen, and the ability to drive change and innovation in a fast-paced and competitive industry.

- Strong leadership skills, with experience in building and leading high-performing teams and fostering a culture of excellence.

- Excellent communication and interpersonal skills, with the ability to build relationships at all levels and with external stakeholders.

- A deep understanding of financial regulations, industry standards, and emerging payment technologies (e.g., mobile payments, blockchain, etc.).

Summary:

- The AVP of Prepaid Payment Instruments plays a critical role in defining and executing the strategy for prepaid payment products.

- This individual is responsible for driving product placement and growth, ensuring compliance with financial regulations, leading cross-functional teams, and delivering customer-centric solutions.

- The role demands leadership, innovation, and a deep understanding of both the prepaid payments industry and the broader fintech landscape.

- The individual will be instrumental in shaping the future of prepaid financial products, ensuring they meet evolving customer needs and contribute to the company's growth and success.