Business and Finance

Payments Product Manager at Citibank Nigeria Limited (CNL)

Citibank Nigeria Limited (CNL) was incorporated in Nigeria on May 2, 1984 and the oldest international bank in the country. It provides a wide range of financial products and services to corporate and commercial customers, financial institutions and public sector organizations. It offers deposit and loan products, global transaction services, cash management, sales and trading, corporate finance and investment banking products.

The company was formerly known as Nigeria International Bank Ltd and changed its name to Citibank Nigeria in 2008. Today it employs about 300 people and operates 12 branches in Lagos, Abuja, Port Harcourt, Warri, Kano, Bonny, Aba, Lanlate and Ososa. As at December 31, 2016, it had over NGN 600 billion in total assets. Citibank Nigeria is owned by Citibank Overseas Investment Corporation, a subsidiary of Citibank N.A. (USA).

We are recruiting to fill the position below:

Job Title: Payments 

Job Req: ID 21379324
Location: Lagos, Nigeria
Time Type: Full time
Job Category: Product Management and Development


  • The Market Segment & Services Senior Specialist is a strategic professional who stays abreast of developments within own field and contributes to directional strategy by considering their application in own job and the business. Recognized technical authority for an area within the business. Requires basic commercial awareness.
  • There are typically multiple people within the business that provide the same level of subject matter expertise. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers.
  • Significant impact on the area through complex deliverables. Provides advice and counsel related to the technology or operations of the business. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job family.
  • The payment landscape in Nigeria is fast evolving, driven in many parts by nascent technology, regulation, innovation and entry of dynamic non bank participants into the marketplace. These changes have catalysed  the modernization of the Financial Market Infrastructure and the concomitant digitzation of traditional  payment products.
  • It has equally fuelled growth in Alternative Payments including Mobile Payments services and E-Commerce  and recently open banking and digital currencies.
  • To take advantage of these changes, clients are also aggressively recalibrating their business models and adopting new products and solutions that  introduce efficiencies, visibility and control.
  • These factors come together to create a dynamic, competitive and challenging market place that requires undiluted focus of a Payment product manager  in order for Citi to maintain and grow  wallet share and position as a leader in the Payment space.
  • This role will report to the TTS Head and will work actively with the SSA Payment Product Manager and partners in the region to provide subject matter expertise support to the cash management product team in the country.  It is  a critical partner to the Corporate & FI sales organization in providing content and expertize in deal structuring / commercialization.  Its functions also include:
    • Managing (end-to-end) the bank’s payment products with a view to significantly growing  share of wallet of our customers’ cash management business and the corresponding revenues.
    • Identifying payment opportunities in the Nigerian market and develop products and processes with a view to significantly encourage the customers to adopt electronic payment methods and digitization initiatives. This will enable straight through processing thereby increasing the capacity of the bank to offer payment services to its customers, reduce operational costs to the bank and increase margins on payment products.
    • Develop partnerships with payment service providers to enable Citi indirectly access mass payment flows and opportunities in non-target market segments of the system.
    • Identify and aggressively drive growth and penetration of new payment channel opportunities in Nigeria.  Introduce, deploy and drive penetration of file services to improve Citi’s payment proposition.


  • Work closely with Technology, Operations and Coverage teams to drive timely, cost effective and high-quality Delivery of strategically aligned product solutions
  • Partner with Finance to evaluate investments in product development, and monitor and control billing/revenue, expenditure, and benefits realization
  • Work closely with global and regional product teams to develop and refine the strategy of product solutions, go to market approach, and Delivery model.
  • Work with product control functions to ensure that all relevant documentation (eg product Approval Program) and processes are strictly adhered to and part of the management fabric of the product business
  • Coordinate planning and other related activities for launching of new capabilities and functionalities across Technology, Operations, implementations, and regional teams
  • Work closely with the coverage teams, and core product teams to ensure that demands of the White-Label clients are well understood
  • develop an action plan to address VOC (Voice of the Client) feedback. Partner with cross-functional and coverage teams to execute
  • Invest time to keep track of Competition, market Trends, new Technologies
  • Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm’s reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
  • New Product rollout including documenting business requirements, conceptualising, development, implementation, piloting and market roll-out.
  • Manage (end to end) existing payment products to achieve revenue and other set goals
  • Interface with Relationship Managers, Electronic Banking and Operations & Technology to obtain customer feedback and processing metrics that can aid in new product development and enhancement of existing products.
  • Promote the use of alternative payment methods and play a role in industry-wide initiatives to develop electronic payment systems in Nigeria including implementation and rollout of the bank’s Mobile payment services.
  • Develop customised, efficient and cost-effective payment solutions for customers
  • Manage Partnerships / Alliances related to the product suite
  • Subject matter expert responsible for successful knowledge transfer to internal business partners and guidance to Sales / Relationship Managers and other customer facing units in respect of devising marketing strategies (training, materials and support) to enable sales of payment products and conversion of the bank’s target market.
  • Competitive understanding of the market place, customer need identification and development of strategies and tactics to grow share and revenues for profitability
  • Implementation of Product Plans which encompasses: Product Offering Definition, Development, Testing and Launch, Marketing strategies, Pricing Strategies, Training, Operations and Tech Roadmap, Pricing Models, Sales and Distribution, Delivery Channels, Metrics and Performance Management., Capacity Planning etc.
  • Prepare and ensure Product Programs are approved in a timely manner.
  • Take full ownership for P& L for Payment Products.
  • Grow P&L for existing payments channels as well as new introductions. Develop metrics for monitoring performance and institute a disciplined process for analysis and reporting at agreed frequency.
  • The replication of Citi’s global capabilities is a key requirement of this role. By way of innovation, introduce and convert at least 2 clients to use a new channel annually into the next 3 years.
  • Grow payment volumes across established channels by 50% annually.
  • Manage products through internal strategic partnership with Sales, Operations, Relationship Management, Legal, Financial Control, Treasury and other local and regional peer for successful delivery of all products.
  • Establish strong market presence through membership and active participation in driving industry initiatives, become positive change agent throw enthronement of best practices leveraging on knowledge from other climes.
  • Work towards achieving harmony in payment capability across all channels.
  • Risk Management for the Products (ownership of Rate, Credit, Regulatory and Operational Risk) and its management through the Product Program Process.


  • First Degree in a numerate. MBA is an added advantage
  • Candidates must also have a minimum of 15 years postgraduation experience, out of which at least 10 must have been in the banking industry and at least 2 as Assistant General Manager.


  • Bachelor’s / University Degree, Master’s degree preferred

Technical Competencies:

  • Demonstrates a sound knowledge of Payments product range, including alternatice payment methods
  • Demonstrates a full appreciation for product launch best practices, product risk management, Payment System Risk Management etc
  • Strong Product management and analytical skills
  • Familiar with innovation strategies
  • Strategic Communication and Influencing:
    • Builds strong and lasting relationships with clients and partners.
    • Navigates internal and external networks to drive value for clients and the Firm.
    • Identifies cross-sell / multi-product solutions that optimize client experience and meet returns
    • Inspires, Catalyzes and informs  through all communications, written, verbal or virtual
    • Leverages social media and digital solutions as appropriate
    • Demonstrates high curiosity & creativity when seeking new customer value propositions to meet unmet customer needs
  • Demonstrates the ability to communicate  & motivate upwards, across and into  teams in motivating attention and action

Risk, Finance and Controls

  • Familiar with Citi’s risk culture, risk and finance frameworks and their application at a legal entity, cluster and country level.
  • Sound understanding of credit, interest rate, liquidity, operational, reputation, strategic and compliance risks:
    • Demonstrates expertise, balance and pragmatism to ensure solution delivery is done with the highest respect for safety and soundness
  • Promotes and embodies a culture of a strong controls
  • Demonstrates ability to generate, evaluate and execute optimization strategies

Governance and Culture:

  • Familiar with Citi’s franchise governance frameworks and ensures timely issue escalation
  • Creates alignment between the global strategy and local execution.
  • Strengthens relationships with external stakeholders, including regulators.
  • Is able to articulate the organizational culture and adapt it to the local context
  • Holds self and others accountable to working in a manner that is team oriented, collaborative, and responsible

How to Apply
Interested and qualified candidates should:
Click here to apply online

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