Description
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
Commercial Manager Commercial ManagerVocalink Overview
This is an exciting opportunity to be part of Vocalink Limited, 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. The successful candidate will become part of a high functioning team, dedicated to delivering secure and resilient services for the benefit of over 60 million citizens and the UK private, public and third sectors every day. In 2024, Vocalink is expected to process more than 14 billion transactions, with a value more than £11 trillion.
Vocalink is a Mastercard business that was acquired in 2017 and whose products include:
Bacs (Direct Credits and Direct Debits)
The Faster Payments System (FPS)
The LINK ATM network for cash withdrawal
The Image Clearing Service (ICS) that supports cheque clearing.
Role Overview
Vocalink's Commercial team, part of the wider Product Management team, is looking for a Commercial Manager to support the ongoing operation of its services. The successful candidate will be capable of supporting on a broad range of initiatives, including contract management, cost management, pricing, risk, and regulation impacting Vocalink. You will:
• Provide support to the Product Team and work closely with Finance on all commercial finance matters.
• Develop a thorough understanding of the team's financials and revenue and cost drivers.
• Challenge and work with team members and P&L owners in identifying opportunities to improve financial performance
• Provide support to bids, business cases and pricing of propositions using financial modelling and analysis.
• Build an understanding of our key contracts and help and support the business in ensuring we develop practical means of complying with them.
• Provide critical feedback on draft contractual terms, highlighting areas of risk / potential challenges for Vocalink
• Help develop (in collaboration with other teams) commercial and practical solutions to business challenges and stakeholder needs in the negotiation of contracts with customers and other third parties.
• Build an understanding of the regulatory environment facing Vocalink and the commercial implications of regulatory change
• Oversee the effective operation of billing and price change controls
• Provide ad hoc support to the Product Team through delivery of “deep dive” reviews, coordinating the response to emergent challenges, and other surge support.
All About You
As the ideal candidate for this position, you should be:
• A qualified accountant preferably
• Ability to read and understand complex contracts and / or regulations
• Accomplished at financial modelling and have strong analytical capabilities
• A strong communicator – both verbally and in writing
• Able to simplify complexity
• Able to work with ambiguity and in a time-pressured environment
• Able to demonstrate commercial acumen, an entrepreneurial mindset, and an ability to learn commercial contract concepts if you are not experienced in this area
• Solutions-oriented
• Passionate for continuous improvement
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.
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