Senior Manager Pricing Strategy at Discover (Chicago, IL)
Discover. A brighter future.
With us, you’ll do meaningful work from Day 1. Our collaborative culture is built on three core behaviors: We Play to Win, We Get Better Every Day & We Succeed Together. And we mean it — we want you to grow and make a difference at one of the world's leading digital banking and payments companies. We value what makes you unique so that you have an opportunity to shine.
Come build your future, while being the reason millions of people find a brighter financial future with Discover.Job Description
Discover Financial Services is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America’s cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit thought its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant cash access locations; PULSE, one of the nation’s largest ATM/debit networks; and Diners Club International, a global payment network with acceptance in 190 countries and territories.
Discover’s vision is to be the leading direct bank and payments partner and its mission is to help people spend smarter, manage debt better and save more so they achieve a bright financial future. At Discover, be part of a culture where diversity, teamwork and collaboration reign. Join a company that is just as employee-focused as it is on its customers and is consistently awarded for both. We’re all about people, and our employees are why Discover is a great place to work. Be the reason we help millions of consumers build a brighter financial future and achieve yours along the way with a rewarding career.
Discover’s Global Pricing Organization:
The Global Pricing Team is responsible for optimally pricing network products and services, driving revenue growth and merchant acceptance throughout the organization. To do this, the team collaborates with internal partners to manage a pipeline of pricing initiatives and requests, ensuring all requests are evaluated in a consistent manner which includes audit, risk and governance oversight. When designing pricing strategies, the team also contemplates internal and external competitive benchmarks, potential partner reactions and cross-functional implications.
Lastly, the team is responsible for the successful execution and implementation of these pricing strategies, taking into consideration system development needs, and internal and external communication and training requirements.
Primary Responsibilities and Duties of the Pricing Senior Manager:
- Develop robust pricing strategies and policies for various partnerships and deals – most specifically the Diners Club and Global Acceptance partners.
- Perform quantitative analyses using internal and external data (e.g. industry research, analyst reports,) sources to facilitate delivery of robust pricing strategies and policies.
- Accountable for pricing strategy and communication of revenue, rates and fees for respective clients, markets or management; drives revenue and manages yield for Payment Services
- Continuously search for, gather and synthesize external data to enable benchmarking and to inform pricing strategies, deals and policies. Develop a comprehensive database for reference.
- Participate in cross-functional teams to solve business problems using pricing solutions, collaborating and coordinating with internal stakeholders to make recommendations.
- Deliver interchange and network fee solutions and strategies for various products and industries. Support and guide Discover staff through these proposed interchange and network solutions.
- Effectively communicate pricing changes to internal colleagues. Partner with these colleagues to communicate these pricing changes to external partners.
- Develop strong, collaborative working relationships with other colleagues in Global Pricing, and with other key business partners from Operations, Finance, International Markets, Global Acceptance, and Business Development teams.
- Establish, document and formalize processes and controls for deal support and price implementation, in order to drive greater operational efficiencies and excellence. Address risks and opportunities with existing procedures.
- Assist in the development of pricing systems and platforms by conducting analyses to identify and prioritize pricing solutions that will generate revenue and/or increase operational excellence and by outlining design and user requirements to Operation teams and Product Owners
- Lead internal team of Pricing Professionals to drive revenue yield and the advancement of pricing infrastructure within Payment Services.
- Lead cross-functional teams to solve business problems, collaborating and coordinating with a range of internal stakeholders to create pricing strategies on a wide range of business issues.
- Create an inspiring team environment with an open communication culture.
- Develop, coach and upskill team members to reach their highest potential and to delegate responsibilities across the organization.
- Broad knowledge of competitive pricing trends and utilizes knowledge for key initiative and strategies as well as analytics, client and product strategies and risk assessments.
- Responsible for creating/enhancing the procedures, controls and business rules required to support stated policy, as well as the documentation and communication of policy both internally and externally
Bachelors in Finance, Economics, Business, Accounting, Marketing
8+ years Pricing, Financial Services, Transaction Processing, Management Consulting
Masters Business Preferred
8+ years Pricing or Payment Services Preferred
What are you waiting for? Apply today!
The same way we treat our employees is how we treat all applicants – with respect. Discover Financial Services is an equal opportunity employer (EEO is the law). We thrive on diversity & inclusion. You will be treated fairly throughout our recruiting process and without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status in consideration for a career at Discover.