VP, Digital Channel Applications

Job Type: Full-Time

Location: Toronto or Ottawa (Hybrid opportunity)

Vacancy Status: This posting is for an existing role

Scope of Position

The Vice President, Digital Channel Applications provides leadership and expertise in maturing and evolving a digital banking strategy to drive digital sales and deliver a superior digital channel banking experience through mobile, online, appropriate fulfillment processes, and customer analytics to enable deeper customer insights. Strives to meet or exceed digital-specific KPIs that are consistent with line of business goals including, but not limited to customer acquisition, satisfaction, retention, revenue generation (interest/non-interest), product sales and expense reduction (process efficiencies).

Reporting to the CTDO, the VP Digital Channel Applications maintains a strong understanding of evolving customer preferences, industry best practices, performance benchmarks, competitor capabilities and product offering while continuing to identify ways to enhance effectiveness / optimization of client experiences across all digital banking channels.

Major Responsibilities

• Responsible for increasing online applications; evolving the product and service offerings through organic development and Fintech partner integration; increasing partner referrals; and developing robust, interactive tools to show a measurable increase of ROI.
• Develop, maintain, and champion the execution of short- and long-term roadmaps and strategies inclusive of partner ecosystem for digital banking channels and related products and services.
• Leverage expertise in market demands, emerging trends and technology and the competitive environment to optimize digital channels providing superior end-to-end member experience for member acquisition, retention, satisfaction, product sales and cross-sell.
• Develop and Manage service implementation and processes to ensure excellent member support during new and enhanced product rollouts, including training, process development, and communication.
• Lead and manage staff, including training and coaching. Promote high standards of quality, innovation, collaboration and integrity and exemplify a “high performance” culture.
• Identify skills gaps and work with employees to build and implement personal developmental plans to help them be more effective and confident in their roles.
• Collaborate with Marketing and Communications teams to develop and implement marketing and communication plans that effectively promote new product features.
• Maintain alignment between digital channels and offline channels, ensuring consistency throughout all digital platforms.
• Monitor and report the performance of digital channel strategies, policies, programs, to ensure the fulfillment of strategic objectives. Recommend changes to programs, products or services, or channel offerings as needed.
• Partner with Risk, Compliance and other areas as needed to ensure compliance with applicable provincial and federal regulations and laws. Ensure risk assessments are maintained and managed appropriately for all digital channels.
• Work with internal IT partners to develop roadmaps and document requirements that ensure conformity with standards, and meet the continuing challenges around member experience, security and privacy while taking advantage of innovation opportunities.
• Develop and Manage fintech partnerships, third-party vendors, and technology providers.

Expectations / Outcomes

• Increased market share, client/member loyalty and brand awareness
• Increased organic growth
• Strong portfolio growth that is both profitable and competitive
• Members, clients and employees are informed and aware of all product, services and marketing initiatives
• Increased credibility with all stakeholders
• Fostering of corporate culture conducive to the attainment of strategy

Qualifications

• University degree with a major in Information Technology, Business, Commerce or other discipline related to this role
• 10+ years in leadership roles managing Digital Channels or Product Portfolios
• 15+ years in Digital banking, Technology or Financial Services Industry
• Proven track record of leading large-scale digital transformation initiatives with experience in mobile and online banking platforms

Knowledge and Skills

• In depth knowledge of digital channels and technologies; Understanding of security protocols, fraud prevention, and regulatory requirements (e.g., PCI, GDPR, OSFI and FSRA guidelines).
• In depth knowledge of developments in the rapidly evolving digital and fintech space.
• Proven ability to design and execute strategies for web, mobile, and app-based channels to drive adoption and engagement; Knowledge of human-centered design principles, usability testing, and accessibility standards
• Exceptional service experience based on deep banking product knowledge and a drive for excellence.
• In depth knowledge of credit theory, practices and strategy.
• Excellent knowledge of leadership principles, practices and techniques; building and mentoring high-performing teams
• Experience in agile methodologies, backlog prioritization, and digital product lifecycle management.
• In depth knowledge of HR Policies & Procedures.
• Strong communication/writing skills including presentations, policy, procedure and report writing.
• Expertise in driving organizational adoption of new digital tools and processes
• Management and supervisory skills.