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Product Development & Rewards Director
Barclays Capital
Wilmington, DE, United States
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Description
About Barclays
Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US. Our goal is to become the bank of choice by providing superior services to customers and clients and supporting our stakeholders via a commercially successful business that generates long-term sustainable returns.
Our two clearly defined divisions, Barclays UK and Barclays International, provide diversification by business line, geography and customer, enhancing financial resilience and helping to contribute to the delivery of consistent returns through the business cycle. We have a strong core business with exciting prospects, well positioned to deliver long-term value for our shareholders.
Consistent with the objective of delivering long-term sustainable value for all our stakeholders, we have developed our Shared Growth Ambition – our approach to citizenship and the sustainability of the business model we operate. The aim is to make decisions and do business that provides our clients and customers, and the communities which we serve, with access to a prosperous future.
The delivery of our strategy is underpinned by the energy, commitment and passion of our people, and we are clear on our common purpose: to help people achieve their ambitions, in the right way.
About Marketing
BCUS Marketing is responsible for acquiring new customers, managing existing customer relationships, developing digital strategies and experiences, designing new products, running loyalty programs, designing creative, managing the Barclaycard brand in the US, and conducting customer search. Marketing supports the Card business, the Deposits business, and our soon to launch Consumer Lending business.
EEO Statement
It is the policy of Barclays to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information, or any other basis protected by law.
Dynamic working gives everyone at Barclays the opportunity to integrate professional and personal lives, if you have a need for flexibility then please discuss this with the hiring manager.
We are an equal opportunity employer and we are opposed to discrimination on any grounds.
Overall purpose of role
The Product Development & Rewards Lead position will manage the design and development of new consumer finance products for the US business including cards, savings, and loan products. He/she will also manage all loyalty programs for both co-brand partner programs and branded programs. This person will develop product and rewards strategy, build products, lead projects, and manage performance to drive profitability and customer satisfaction.
They will be forward-looking and partner with key business and technology stakeholders to help win co-brand partnership deals, expand our proprietary product suite, and achieve growth targets in the form of new customers and deeper engagement of existing customers. The Product Development & Rewards Lead will deeply understand the marketplace for consumer finance products and map that against customer segments and unmet needs to design and develop winning propositions.
Primary responsibilities include:
• New product design and development for consumer finance products, including cards, savings, loans
• Loyalty program design, development, and ongoing support – including earn and burn components
• Cardholder benefits management
• Rewards expense and liability management, in partnership with Finance
• Product and loyalty innovation
• Customer experience, particularly digital and mobile, for new products and loyalty programs
• Application ownership of all loyalty technology, platforms, and vendors
• Manage team across different product and loyalty verticals including airlines, hotels, and retail
• Deliver results including new customer acquisition, rewards expense, customer retention, satisfaction, etc.
Key Accountabilities
• Study industry trends, customer needs, and technology advances to inform product/rewards roadmap
• Utilize insights, customer feedback, and innovation to develop propositions targeted to specific customer segments
• Formalize a test and learn framework, using qualitative & quantitative measures and metrics to track and predict performance.
• Identify and develop business, technical and vendor solutions to support products/rewards
• Work with internal stakeholders to develop feature set delivered at launch and drive a roadmap for future product innovation.
• Work closely with our digital and loyalty teams to drive optimal customer value proposition and ideal digital/mobile customer experience
• Optimize revenue by identifying and communicating industry best practices throughout the organization
• Facilitate performance-driven roadmap planning Product Management
• Create and sell in a product governance system across Barclays that ensures control but also allows for flexibility by product
• Work with internal insights team and other vendors to understand brand measurement tracking studies; optimize for performance
• Partner closely with the Partnership & Branded Team to help them achieve their performance goals
Risk and Control Objective
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards.
Person Specification
Basic Qualifications:
• Bachelor’s degree required
• 12+ years of experience in a major corporation, preferably a bank, supporting product develop and loyalty/rewards program development.
Preferred Qualifications:
• Experience with B2C marketing
• Experience with digital marketing trends
• Rapid prototyping and concept testing experience. A force for innovation.
• Relationship builder – Adept at building and maintaining relationship at all levels in the organization & across cross-functional teams.
• Hands-on approach – Not afraid to jump in and take a hands-on approach to project management. Need to be a mix of strategist & do-er.
• Communications skills – excellent comms skills, both written and spoken
• Leadership and teamwork – works well in cross-functional teams, be able to drive strategic agendas, and make strategic recommendations
• Customer focus – instinctive approach to understanding what makes effective product design, augmented by outstanding observational skills
• Brand management – understands how great brands are created and built from the inside-out
• Value-based business perspective – appreciation of commercial consequences of marketing and brand decisions
• Competitive positioning – breadth of competitive awareness and understanding
Purpose and Values
Barclays has a single cross-business Purpose for Barclays and five core Values which underpin it.
Our Purpose is helping people achieve their ambitions in the right way. Put simply this is the answer to the question ‘What is Barclays for?’ and it should guide our every action as employees.
Respect
We respect and value those we work with, and the contribution that they make.
Integrity
We act fairly, ethically and openly in all we do.
Service
We put our clients and customers at the centre of what we do.
Excellence
We use our energy, skills and resources to deliver the best, sustainable results.
Stewardship
We are passionate about leaving things better than we found them.