Senior Product Manager-Payments

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POST DATE 8/16/2016
END DATE 11/26/2016

WEX, inc. South Portland, ME

WEX, inc.
Job Classification
Full Time
Company Ref #
South Portland, ME
Mid-Career (2 - 15 years)
Job Type
Bachelors Degree
AJE Ref #


WEX Inc. is a leading and growing global provider of payment processing, information management and fleet card payment solutions. We are passionate about providing payment solutions with unparalleled security and control for corporate purchasing and transaction monitoring needs. We hire people who share the same passion for continuous innovation and client service that is unparalleled in our industry. We are employee centric offering value-based incentives and generous compensation and benefits packages. If you are looking for a growing career come be part of WEX today!

General Purpose:
Senior Product Manager, Payments:
Develop and execute strategy on new payment products from ideation through implementation. Drive innovation in payments products and services across channels and customer segments. Assess new and emerging capabilities in market and recommend product strategy based on customer, partner and business objectives.

Deliver new products and services to market that fulfill on brand promise, innovate and delight our customer base.

Drive innovation, definition, deliverables planning (roadmap) and design of new payments products to deliver against department and organizational objectives. Challenge members of cross functional teams to think creatively and drive new products to market.

Test and learn with new products and services - optimize product and experience based on key learning.

Identify and assess payment trends while understanding how best to respond to threats and opportunities from competitors and new entrants in market.

Develop a keen understanding of payments operations/business processes/controls and identify opportunity to achieve greater efficiencies across the organization. Use this knowledge to drive transformational change.

Manage all aspects of new product implementation and existing product modification to include but not limited to the design and development of services.
Essential Duties and Responsibilities:
Lead cross-functional product and program teams to assess and meet the needs of prospective and existing customers. Determine customer needs, business goals, requirements, and product functionality. Provide leadership of internal and external stakeholders to ensure rapid and continuous development and delivery of Best in Class products and services:
o Identify and research new product and enhancement opportunities.
o Oversee project initiation, initial survey and feasibility study for new product or product enhancements.
o Perform financial analyses including forecasting product line revenue and profitability.
o Oversee the product development pipeline, lead marketing, operations/business process, and technical services and shepherd initiatives through the process.
o Provide leadership and oversight in the management of product life cycles.
o Lead the development of go-to-market/launch plans for new product releases.
o Execute product strategy, including release, providing input to the process, working with key management and operational stakeholders.

Provide go-to-market assumptions, competitive intelligence, and market positioning to internal Marketing partners with which to develop and effectively communicate both long- and short term marketing strategies, tactics and objectives to all stakeholders. Such assumptions include target audience, needs assessments, and competitive differentiation.
o Develop an end-user focused message and positioning including unique customer value proposition, features/function/benefits, ROI and competitive positioning.

Lead cross-functional teams (e.g., PMO, Sales, Marketing, Operations, IT, Legal, and Finance) to ensure product plans, release schedules are met, identify end-user and product dependencies, ensure that customer tests are designed to evaluate customer specific requirements, and that external and internal measures of success are identified and easily monitored. The Sr. Product Manager must report on a monthly basis the success of their product against plan.

Provide the sales team and channel partners with the information and tools they need to identify, attract, solicit and close new business.
o Develop, implement and oversee appropriate channel management strategies, including working with various channel partners (major customers, buying groups, co-ops, distributors and others)
Foster strong relations between field sales force (corporate and 3rd party) and Product Management.
Knowledge, Skills, Abilities
Minimum Required Qualifications for Consideration
Bachelors degree
Requires 5 years of related experience or equivalent work experience
Extensive knowledge of and demonstrated success in the development of the new products/services and the development of strategic product roadmaps
Understanding of financial models to develop, support and evaluate product and marketing decisions.
Strong analytical skills
Superior organizational and PC skills required, including: Word, Excel, and PowerPoint.
Must pass a successful background investigation
Preferred Qualifications
MBA Preferred
Ability to manage multiple complex projects with limited supervision
Strong written and verbal communication skills
Excellent organizational and project management skills
Ability to work tactically and independently
Ability to translate customer and market needs into effective product development programs.
Relationship and team building skills
Strong interpersonal skills, ability to communicate effectively and establish relationships with business partners and all levels, including executive levels, of an organization
Product management experience within the credit card industry.
Business to business product management and marketing
Experience leading 3rd party relationships is important.

At WEX, we reward innovation, hard work and excellence. Benefits include:
Health Insurance
Dental Insurance
On Site Fitness Facility in South Portland location
401(k) Plan
Life Insurance/AD&D
Dependent Life Insurance
Short- and Long-Term Disability Programs
Flexible Spending Accounts (Medical and Dependent)
Employee Referral Award Program
Employee Assistance Program
Tuition Reimbursement
Pet Insurance
Bonus Plan