Commercial Product Manager IV

This is a remote role that may be hired in several markets across the United States.

We are seeking an experienced, well-rounded payment professional to join the Embedded Payments On Behalf Of Product Management team. The ideal individual will have experience across multiple payment methods and product management.

The Embedded Payments On Behalf Of Product Management team is responsible for a portfolio of innovation economy Fintech clients that facilitate payments on behalf of their customers (C2s). These Fintech clients provide payment services to a wide variety of end customers across multiple industries utilizing a variety of payment methods via OBO and For Benefit Of (FBO) custodial accounts.

- Comprehensive product management of unique OBO and FBO account types including core system account setup, FDIC insurability requirements, reconcilement, profitability, product development and other duties as assigned.
- Facilitate client risk management efforts including ensuring appropriate documentation and ongoing oversight.
- Partner with legal to develop and maintain OBO and FBO legal documentation and all complex 3rd party fintech relationships.
- Maintain policies, standards, and procedures for OBO and FBO use cases across onboarding, monitoring, and offboarding.
- Collaborate with product, risk, compliance, and legal teams to ensure that risk controls are aligned with both regulatory requirements and the evolving needs of the portfolio.
- Partner with relationship teams to ensure that portfolio growth, profitability, and innovation are balanced with effective risk management.
- Establish and maintain OBO & FBO pricing strategy while helping to manage product profitability.
- Drive product enhancements with core product management partners including business case development, requirement documentation, and product launch.
- Drive Go to Market efforts for core product payment methods and channels as applicable to OBO payment use cases.

Basic Qualifications:

• Bachelor's degree in finance, accounting, or related work experience.
• 5+ years of experience payment product management inclusive of P&L management, policies and procedures, and new product development.

Preferred Qualifications:

• Familiarity with various Embedded Payment business models (PayFac, On Behalf Of, For Benefit Of) and associated risk profiles.
• Expertise in risks unique to various payment methods including ACH, Checks, Wire, RTP, Card include formatting, international, returns, and associated credit risk especially in the OBO payment space.
• Understanding of payment network and regulatory rules that govern OBO payments.
• Proven ability to provide actionable insights from data through management presentations.
• Excellent analytical, communication, and problem-solving skills.
• Collaboration with cross-functional teams and influence decision-making.
• Track record of simplifying complex problems and solutions to persuade audiences.
• Prior experience interfacing with relationship teams and clients in successfully closing deals and providing support as needed.

If hired in [IL, AZ,GA, NC or TX], the base pay for this position is generally between $130,205.00 and $153,182.00. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

First Citizens benefits programs are designed to meet our associates where they are in life. Full-time associates (20+ hours) are offered a comprehensive benefits program, with customized offerings, including those designed to support families, however defined. More information regarding our benefits offerings can be found here: https://jobs.firstcitizens.com/benefits