Senior Principal, Relationship Management (Payments Acquirer Relations)

Strategic Relationship Manager – Drive Growth in the Payment Ecosystem

Are you a seasoned professional with a passion for fostering strategic partnerships and driving business growth within the payment industry? Join our team at Discover as a Strategic Relationship Manager and play a pivotal role in cultivating and expanding our network of key partners. In this role, you’ll be the primary point of contact for our most strategic and complex external relationships, identifying and executing opportunities to achieve and exceed business targets.

Key Responsibilities

• Relationship Management: Build and nurture strong, lasting relationships with existing strategic network participants, ensuring their success and satisfaction.
• Market Expertise: Stay ahead of the curve by conducting thorough market analysis, monitoring industry trends, and understanding the competitive landscape to recommend strategic actions that improve Discover’s market position.
• Business Development: Collaborate internally and externally to identify and capitalize on new business opportunities within existing accounts, driving incremental value and enhancing the network participant experience.
• Strategic Communication: Keep network participants informed about new product offerings, marketing initiatives, and operational updates, acting as their primary liaison to Discover to ensure improved market positioning for Discover Financial Services (DFS).
• Executive Engagement: Serve as the strategic bridge between Discover and its external accounts, building and maintaining strong relationships with key decision-makers across various company divisions.
• Account Planning: Develop strategic account plans in collaboration with key partners, proactively identifying opportunities for business value growth by adhering to best practices and established processes.
• Internal Collaboration: Ensure seamless support from all internal functions to achieve account objectives, focusing on data integrity, training, and education.
• Performance Monitoring: Meticulously document, monitor, and report on the performance and status of identified opportunities.
• Issue Resolution: Address and resolve network participant inquiries and challenges, proactively seeking solutions to maintain strong partnerships.
• Negotiation & Compliance: Negotiate contracts, pricing agreements, and incentives, ensuring compliance with established processes and business practices.
• Voice of the Industry: Serve as the voice of the industry within Discover, analyzing trends and providing valuable insights to internal product, marketing, and operations teams to improve Discover’s competitive advantage.

Qualifications

We are looking for a highly motivated and results-oriented individual with:

• A Bachelor’s degree in Business Administration and Management, Finance, Marketing, or a related field.
• A minimum of 8 years of experience in Payment Industry sales/relationship management, business development, strategy, operations, marketing, project management, finance, or consultative roles.
• A proven track record of building deep and influential relationships with key stakeholders, executive-level clients, and internal business partners.
• (Alternatively) 10+ years of equivalent experience in lieu of a Bachelor’s degree.

Essential Requirements

• Ability to remain in a stationary position for extended periods.
• Ability to move about the office environment as needed.
• Primarily works indoors in a standard office setting.
• Proficient in operating standard office equipment (computer, telephone, printer, calculator).
• Excellent verbal and written communication skills.
• Willingness to travel up to 10% of the time.

Bonus Points

Candidates with the following experience will be highly considered:

• Previous experience working with merchant acquirers, processors, or payment networks in a relationship or account management role.
• Established industry relationships within the acquiring ecosystem (processors, ISO’s, PSP’s, etc.).
• Strong knowledge of acquiring business models.
• Track record of negotiating and managing acquirer contracts.
• Familiarity with compliance and risk management (specific to acquiring).
• Experience presenting to and advising executive-level stakeholders.
• Success in influencing across complex matrixed organizations.
• Ability to identify and execute growth opportunities within an acquirer portfolio.

Compensation

The base pay for this position generally ranges between $106,000.00 to $178,800.00. Discover offers a market-competitive total compensation package that may include additional incentives. Factors influencing pay include geographical location, relevant experience, education, and skill level.

Benefits

At Discover, we value our employees and offer a comprehensive benefits package, including:

• Paid Parental Leave
• Paid Time Off
• 401(k) Plan
• Medical, Dental, Vision, & Health Savings Account
• Short and Long Term Disability, Life, and Accidental Death & Dismemberment insurances
• Recognition Program
• Education Assistance
• Commuter Benefits
• Family Support Programs
• Employee Stock Purchase Plan