Our Purpose

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re helping build a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

Title and Summary

Director, Product Management

Product, Strategy and Commercial Services, Vocalink Limited
Director Product Management: Faster Payments Service (FPS)
Vocalink
This is an exciting opportunity to be part of the Product, Strategy and Commercial Services function in Vocalink Limited, a Mastercard business.

 Vocalink is the UK company that enables the payments of 90% of salaries, 70% of utility bills, most ATM transactions and every cheque cleared in the UK.
 We provide services to over 60 million citizens, and the UK private, public and third sectors.
 In 2024, we processed 14 billion transactions, with a value of more than £10 trillion.
 Vocalink products include Bacs Direct Credits, Bacs Direct Debits, Faster Payments, the LINK ATM network for cash withdrawals, and the Image Clearing Service (ICS) that supports cheque clearing.

Product Director Faster Payments Service
The Product Director is responsible for defining, executing and managing the FPS product and supporting services, that are delivered as part of the contractual relationship with Pay.UK.

Primary responsibility of the Product Director is for the commercial success of the FPS product. This is achieved by managing the FPS product through its lifecycle, ensuring revenue generation and profit for Vocalink, in line with defined budgets and investment plans.

Role:
Management of the FPS Product and P&L
 Maintain the business plan for FPS, documenting planned revenues, annual investments and product roadmap.
 Own the product P&L taking responsibility for revenue generation and cost management.
 Own and influence product pricing for change revenue opportunities and ancillary income for services in addition to existing volume-based contracts.
 Work with key internal stakeholders across Finance, Software Engineering, Technology and Change teams to drive investment planning to ensure continued commercial success, availability and resiliency of FPS product.
 Work with Pay.UK to receive, size and deliver agreed change requests that support and enhance the FPS product lifecycle.

Product Management and Control
 Agree annual volume targets and revenue with product leadership and key stakeholders.
 Agree FPS revenue forecasts throughout the year with finance team.
 Work with Vocalink account management team and Pay.UK to assess Customer needs, attending service reviews and building relationships with key Customer contacts.
 Support sales and onboarding activities in conjunction with commercial management team, particularly where these provide change revenue for enhancements to the FPS product.
 Lead development of and sign off for business cases that align to ‘Infrastructure Investment Plans’ and / or enhance functionality of FPS product.
 Ensure risks associated with delivery and maintenance of FPS product are appropriately documented with clear owners and actions, in conjunction with 1st and 2nd LOD teams.
 Maintain an understanding of FPS contract and internal / external reporting obligations as appropriate.
 Maintain an understanding of FPS ‘Important Business Service’ (IBS) obligations and assess any threats to Impact Tolerances (ITOL’s) that could crystallise from known / unknown vulnerabilities or service incidents.
 Work with Service Management and Operational Resilience teams to respond to / recover from any service outage, breach or threat to product IBS / ITOLs.

Future Product Development
 Maintain and manage the FPS product plan to cover product development and enhancements.
 Oversee maintenance of Infrastructure Investment Plan, ensuring strategic development of product to maintain availability and resiliency of FPS product.
 Sponsor key FPS projects for enhancements / developments and manage scope, budget profile, delivery timelines and security / decommissioning requirements.
 Drive benefits of product developments and enhancements in line with business case.

About You
Skills and experience required for this role are:
 Education: at least an undergraduate degree.
 Experience: UK payments market, product management, payments or financial services within a complex stakeholder environment.
 Passion for payments and understanding of solutions.
 Skills and attributes:
o An ability to deal with ambiguity, complexity and competing priorities and to quickly assess, simplify and articulate challenges, solutions and recommendations.
o An ability to get things done and see the bigger picture.
o Strong analytical skills and financial literacy.
o Experience of engaging with external customers (in a sales, relationship or service management role).
o Experience of complex pricing models, working closely with finance teams.
o Able to communicate at all levels within the business, clearly and concisely.
o Ability to plan and organise effectively and deliver to deadlines.
o An ability to work under pressure to meet deadlines and react quickly to changing priorities.
o A proven relationship builder with strong influencing skills who can interact effectively with internal and external stakeholders at all levels.
o A proactive self-starter who has a passion for learning, doing and making a difference.
o A strong team player and collaborator with a team-first ethos.
o Excellent and engaging oral, written and presentational skills.
o A role model for the Mastercard Way.

Corporate Security Responsibility

All activities involving access to Mastercard assets, information, and networks comes with an inherent risk to the organization and, therefore, it is expected that every person working for, or on behalf of, Mastercard is responsible for information security and must:

• Abide by Mastercard’s security policies and practices;

• Ensure the confidentiality and integrity of the information being accessed;

• Report any suspected information security violation or breach, and

• Complete all periodic mandatory security trainings in accordance with Mastercard’s guidelines.