Commercial Deputy Director Remittances

At Morgan Philips Executive Search, we are looking for a Commercial Deputy Director of Remittances for a leading financial company in Mexico. This individual will be responsible for ensuring the necessary commercial relationships with money transmitters to maintain a highly profitable P&L for the remittance business. They will also define and implement the commercial strategy across all customer-accessible channels to grow the customer portfolio, transactions, commission income, and market share for the product.

Commercial Deputy Director of Remittances

Main Responsibilities:

• Lead commercial negotiations with money transmitters to determine commission rates charged to the remittance sender, aiming to maximize revenue from remittance products.
• Define the pricing model by volume, amount, and ideal price band for each money transmitter to increase product profitability and improve business market positioning.
• Agree on optimal service levels that aggregators should generate in the transmission service through close relationships with money transmitters, ensuring smooth service delivery to customers.
• Ensure that the bank accounts are properly funded for remittance payment operations, allowing end users to withdraw funds through available channels.
• Set transaction and revenue goals with the Financial Products Director for each money transmitter and establish action plans to achieve the outlined objectives.
• Define the annual budget required across various components to ensure the necessary resources for daily operations and meeting established goals, in collaboration with the Finance department.
• Supervise the profitability and cost-efficiency of various money transfer channels, collaborating with the projects team to improve current processes or implement new ones that enhance profitability.
• Evaluate campaign results to identify their impact, coordinating with the Marketing team to improve communication channels with customers, optimize resource utilization, and maximize customer touchpoints.
• Ensure co-marketing campaigns are executed as planned and drive increased money transfer transactions through the designated Marketing teams.
• Represent the business at events when necessary to maintain strong relationships with aggregators and money transmitters, establishing favorable pricing and agreements that benefit the company.
• Define and implement ideal process journeys for each customer segment and channel to improve user experience and eliminate friction during remittance collection, through analysis of current processes in coordination with UX and CX teams.
• Lead the cross-sell strategy for customers collecting remittances, promoting and placing other business products (Savings and Credit) to increase overall profitability and customer loyalty to the brand.

 
 
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