Overall purpose of role
The Cards Pricing & Commercial Optimisation Director will play a crucial role in driving and managing the commercial performance of our credit card products. This position is essential for ensuring revenue optimisation and maintaining a competitive edge in the market. The role involves leading the commercial success of our credit cards portfolio, focusing on revenue optimisation and competitive positioning. Additionally, the Credit Cards Pricing Director will own the long-term commercial strategy for our Credit Card products, working to help the business achieve its ambitious growth plans, ensuring alignment with overall business goals and market trends. They will oversee the performance of Credit Card products and pricing, continuously seeking opportunities for innovation and growth. Collaboration is vital, as this role requires working closely with cross-functional teams, including Customer, Operations and Finance, to ensure cohesive and effective execution of strategies, as well as interlocking with Tesco Bank colleagues to ensure our multi-brand strategies are operating in an optimal way.
Key Accountabilities
Core accountabilities (Key Criteria)
* Own commercial performance across Credit Card products
* Own and deliver the setting of Credit Card pricing, ensuring the achievement of customer and financial objectives
* Manage financial planning, target setting, and channel & marketing capacity interlock for Credit Cards (e.g., STP, MTP)
* Market and competitor tracking and insight
* Manage pricing committees and adherence to mandates
* Manage pricing implementation in a consistently excellent way
Other key accountabilities
* Own and drive the commercial performance of Credit Card products, ensuring revenue optimisation and competitive positioning
* Monitor and optimise the commercial performance of Credit Card products, inputting into STP/MTP
* Provide leadership to the Commercial management team and broader team
* Ensure regulatory compliance for Credit Card pricing
* Develop strategies to align Credit Card products with broader BUK lending and funding requirements
Purpose of the role
To drive the success of the commercial banking segment through market analysis, product development, sales and relationship management, risk management, and performance.
Accountabilities
* Execution of market research to understand the competitive landscape, identify market trends and opportunities, and develop strategies to capture market share within the commercial banking segment, considering industry, size, and growth stage.
* Development of appropriate pricing models for different products and services, ensuring profitability while remaining competitive in the market.
* Development, implementation, and management of innovative financial solutions, services, and products aligned to the bank's objectives and tailored to the commercial banking segment, including loan products, cash management solutions, and trade finance services.
* Identification and forging of strategic partnerships with other financial institutions, technology providers, or industry experts to expand product offerings and reach new client segments.
* Management of key stakeholder relationships within target companies to understand their needs and recommend appropriate solutions.
* Development and implementation of sales strategies, including establishing sales targets, identifying sales channels, and setting objectives for loan terms to support negotiations and service agreements.
* Monitoring key metrics such as new client acquisition, loan volume, revenue, and market share to assess performance; funnel and journey optimisation are key to service delivery and commercial success.
Director Expectations
* Manage a business function, providing significant input to strategic initiatives. Influence policy and procedures, plan, manage, and consult on complex projects, which may be business-wide.
* Lead a large team or sub-function, embedding a performance culture aligned with business values, or lead organisation-wide projects as a technical expert and thought leader, guiding less experienced colleagues and informing strategic decisions.
* Provide expert advice to senior management and committees, influencing decisions outside own function.
* Manage resourcing, budgeting, and policy creation for a significant sub-function.
* Escalate breaches of policies/procedures appropriately.
* Ensure regulatory compliance and monitor external environment, regulators, and advocacy groups.
* Demonstrate extensive knowledge of industry practices and external market developments.
* Use advanced analytical skills to solve complex problems and design solutions.
* Make significant strategic decisions within own area, negotiate and influence stakeholders at senior levels, and act as a principal contact for key clients.
* Mandated as a spokesperson for the function and business division.
All Senior Leaders are expected to demonstrate leadership behaviours: Listen and be authentic, Energise and inspire, Align across the enterprise, Develop others.
All colleagues must demonstrate Barclays Values: Respect, Integrity, Service, Excellence, and Stewardship, and embody the Barclays Mindset: Empower, Challenge, and Drive.
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