VP Product Manager – NBFI Clearing & Payments Solutions

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TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidates skills and experience job-related knowledge geographic location and other specific business and organizational needs.

As a candidate you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description:

Role Overview

We are seeking an experienced Product Manager to lead the strategy commercialization and development of clearing payments and transaction banking solutions for Non-Bank Financial Institutions (NBFIs). The VP Product Manager will own a portfolio of products and capabilities that enable NBFIs to access domestic and cross-border payment infrastructure through TDs Financial Institution Clearing franchise. This includes indirect participation models for Payments Canada schemes (RTR Lynx ACSS) cross-border clearing solutions settlement agent services correspondent banking capabilities virtual account solutions safeguarding/client money account structures and related transaction banking services.

The successful candidate will be responsible for end-to-end product management spanning client strategy market development product innovation regulatory compliance technology delivery operational readiness and commercial performance. The role requires a deep understanding of the rapidly evolving NBFI landscape including payment service providers (PSPs) fintechs broker-dealers asset managers trust companies money services businesses (MSBs) digital asset firms and other emerging financial ecosystem participants. The ideal candidate combines strong payments expertise commercial acumen and client-centric execution with the ability to lead complex initiatives across business operations technology risk legal compliance and regulatory stakeholders.

Key Accountabilities

Strategic Leadership

• Define and execute a multi-year strategy and roadmap for TDs NBFI clearing and payments business.
• Identify emerging market opportunities driven by regulatory change Payments Canada modernization RTR adoption RPAA implementation and evolving NBFI business models.
• Conduct market scans and competitive analysis to identify growth opportunities product gaps and sources of competitive differentiation.
• Develop market segmentation strategies across PSPs fintechs broker-dealers asset managers trust companies credit unions MSBs and other NBFI client groups.
• Define portfolio-level OKRs KPIs revenue targets and client growth objectives aligned to Transaction Banking priorities.
• Represent TD in industry forums working groups and market discussions relating to payments modernization indirect participation and NBFI access models.

Product Ownership

• Own the end-to-end lifecycle of NBFI clearing products and services including value proposition pricing contractual framework operating model SLAs and profitability.
• Develop and maintain a comprehensive NBFI product catalogue.
• Ensure product competitiveness through market analysis benchmarking performance analytics and client feedback.
• Establish and maintain product documentation service descriptions operating procedures playbooks and onboarding frameworks.

Product Development & Delivery

• Translate product strategy into features epics user stories and roadmap initiatives.
• Lead Agile backlog prioritization and product delivery activities.
• Define end-to-end functional and non-functional requirements across onboarding payments processing settlement reporting liquidity and client servicing capabilities.
• Prepare business cases supporting new product development and investment decisions.
• Partner with Technology Operations Risk Treasury Legal Compliance and Coverage teams to deliver new products and enhancements.
• Drive operational readiness activities including process design policy development controls implementation and support model creation.

Client Engagement

• Serve as the product SME for NBFI clients and prospects.
• Lead client discovery sessions solution design workshops product demonstrations and RFP responses.
• Support strategic sales opportunities and complex implementations.
• Partner with FI Coverage and Origination team to design client/segment specific solutions addressing clearing settlement safeguarding liquidity and payments requirements.
• Develop deep understanding of evolving NBFI business models and associated transaction banking needs.
• Champion the voice of the client throughout the product lifecycle.

Commercialization

• Develop pricing frameworks and commercialization strategies for NBFI products and services.
• Monitor revenue performance profitability client economics and growth metrics.
• Build business cases supporting expansion into new NBFI segments and payment use cases.
• Partner with FI Coverage and Origination team on market development initiatives and product rollout.

Risk & Regulatory Compliance

• Ensure products comply with all applicable regulatory requirements industry standards and market best practices.
• Support governance activities regulatory examinations and internal audits.
• Maintain awareness of regulatory developments impacting NBFIs including:
  • Retail Payment Activities Act (RPAA)
  • Payments Canada Rules
  • Bank of Canada participation frameworks
  • FINTRAC requirements
  • AML/ATF obligations
  • Consumer protection and safeguarding requirements
  • Lead product risk assessments and control design activities.
  • Ensure resiliency operational risk and third-party risk considerations are embedded into product design.

Qualifications

• Undergraduate degree in Business Finance Economics Engineering or related discipline; MBA considered an asset.
• 7-10 years of experience in transaction banking payments clearing treasury services fintech or financial services product management.
• Deep understanding of the Canadian payments ecosystem including RTR Lynx ACSS Interac Swift and Payments Canada frameworks.
• Strong understanding of NBFI business models including PSPs fintechs broker-dealers asset managers trust companies and money services businesses.
• Experience defining product requirements managing Agile delivery programs and leading complex cross-functional initiatives.
• Proven ability to influence senior stakeholders and drive large-scale strategic programs.
• Strong commercial acumen with experience in pricing profitability management and business case development.
• Excellent communication presentation and stakeholder management skills.

Nice-to-Have

• Experience supporting Payment Service Providers (PSPs) or fintech clients.
• Knowledge of RPAA and Bank of Canada registration frameworks.
• Understanding of sponsor-bank settlement agent indirect participation and correspondent banking models.
• Familiarity with SWIFT ISO 20022 APIs virtual accounts and embedded finance models.
• Experience with safeguarding/client money account structures and trust arrangements.
• Familiarity with digital asset stablecoin or tokenized payments ecosystems.
• Experience working with Payments Canada Interac SWIFT BAFT or other industry bodies.
• Relevant certifications in Agile Payments Treasury Product Management or related disciplines.

Who We Are:

TD Securities offers a wide range of capital markets products and services to corporate government and institutional clients who choose us for our innovation execution and experience. With more than 6500 professionals operating out of 40 cities across the globe we strive to make every interaction product and experience remarkably human and refreshingly simple. Our services include underwriting and distributing new issues providing trusted advice and industry-leading insight extending access to global markets and delivering integrated transaction banking 2023 we acquired Cowen Inc. offering our clients access to a premier U.S. equities business and highly-diverse equity research franchise while growing our strong diversified investment bank.

Together we are reimagining what banking can be for our clients colleagues and communities.

Our Total Rewards Package
Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial physical and mental well-being goals. Total Rewards at TD includes a base salary variable compensation and several other key plans such as health and well-being benefits savings and retirement programs paid time off banking benefits and discounts career development and reward and recognition programs. Learn more

Additional Information:
Were delighted that youre considering building a career with TD. Through regular development conversations training programs and a competitive benefits plan were committed to providing the support our colleagues need to thrive both at work and at home.

Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations requirements.

Colleague Development

If youre interested in a specific career path or are looking to build certain skills we want to help you succeed. Youll have regular career development and performance conversations with your manager as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities.

If youre passionate about helping clients and building deep lasting relationships TD offers diverse career paths where you can grow your expertise and make a meaningful impact.

Were committed to your success and foster a respectful workplace where diverse perspectives are valued everyone has fair opportunities to grow and you can unlock your full potential to achieve your career goals. Here at TD we hire and develop the best.

Training & Onboarding
We will provide training and onboarding sessions to ensure that youve got everything you need to succeed in your new role.

Interview Process
Well reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation
Your accessibility is important to us. Please let us know if youd like accommodations (including accessible meeting rooms captioning for virtual interviews etc.) to help us remove barriers so that you can participate throughout the interview process.

We look forward to hearing from you!

Language Requirement (Quebec only):