Serving our customers, communities, and planet a little better every day.
Salary – Up to £k + annual bonus & benefits Location – Edinburgh - Permanent Office Attendance- Our roles are hybrid, however you should be able to travel to our Edinburgh office 2 days per week for this position. Closing Date – Applications close 5th December at 5pm A chance to thrive We’re looking for a Senior Commercial Manager to join our centralised Commercial Pricing team at Tesco Bank. The team are responsible for the performance of pricing for Credit Cards, Loans and Savings products ensuring delivery against the commercial and customer outcomes of the business. You’ll lead the analytical function within the Pricing team, owning our suite of data driven pricing models. You'll ensure model outputs are accurate, efficient, and commercially focused, while setting the strategic vision for pricing model capabilities. This role would suit someone who can think strategically, has experience in unsecured lending and has an ability to work into the detail of complex methodologies and calculations. The team works closely with the wider product Commercial teams, Analytics and Data Science functions as well as Commercial Finance and Credit Risk. What you’ll be doing
1. Lead the development and maintenance of Credit Card and Loans pricing models for customer acquisition, ensuring timely updates are implemented to accurately reflect product-level returns.
2. Own and oversee the suite of model monitoring activities, ensuring pricing models remain appropriately calibrated and fit for purpose in ongoing decision-making. Maintain alignment with model governance policies and support model ownership responsibilities.
3. Design, implement, and govern Post Model Adjustments (PMAs) to ensure pricing valuations remain robust and reflective of market and portfolio dynamics.
4. Define the strategic roadmap for analytical model development to enable best in class pricing, acting as the lead with the wider Analytics and Data Science functions
5. Establish clear requirements for model functionality and methodology, ensuring pricing estimates are consistent with broader business assumptions and integrated with Tesco Bank and Barclays frameworks.
6. Coordinate the pricing risk and controls framework, ensuring robust oversight and adherence to internal governance standards and regulatory expectations.
7. Lead the development and management of Customer Outcomes reporting related to pricing, ensuring compliance with Consumer Duty and that pricing strategies continue to deliver Fair Value across all customer segments.
8. Design and manage the end-to-end pricing framework, including detailed methodologies, policies, and governance structures. Collaborate closely with product-specific pricing managers to ensure consistency and strategic alignment across the portfolio.
We need you to have
9. Strong Knowledge in unsecured lending and/or deposit products
10. Experience working in a commercial function within retail banking
11. Ability to understand complex information and communicate this in an effective way.
And if you have any of these, even better
12. A strong understanding of the UK retail banking landscape, key competitors, threats and opportunities.
13. Experience in product pricing within banking
14. Experience with analytical data driven models
We don’t expect you to tick every box, and if you feel you hit most of the brief, it’s worth exploring to further develop your career here with us. What’s in it for you
15. Prepare for your retirement with our colleague pension scheme.
16. Private Medical Insurance (WL2+) and virtual GP Service you and your family days a year.
17. Performance related annual bonus.
18. Indulge in a generous holiday allowance with a minimum of weeks, with the opportunity to buy more.
19. Embrace the benefits of our Colleague Clubcard (until March 6), enjoy a % discount that increase to % every payday (worth up to 2K). As an added perk, we’ll give you a second card to share with someone else.
20. Benefit from our family-oriented initiatives, encompassing enhanced maternity leave pay, a shared parental leave policy, and a generous 8-week paid paternity leave.
21. A place to get on - take advantage of our ongoing learning opportunities and training, to help you achieve the job and career you want.
22. Take part in our Buy as you Earn and Save as your Earn share schemes.
Everyone’s welcome We want all our colleagues to always feel welcome and be themselves at Tesco Bank. We’re committed to building a more inclusive workplace and celebrating everything that makes colleagues unique, and value the richness and diversity this brings to our business. A more diverse business helps us deliver on our purpose to serve our customers, communities, and planet a little better every day. #LI-LC1