Commercial Manager in London, England

Description

Our Purpose

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're helping build a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

Title and Summary

Commercial Manager Commercial Manager



Vocalink Overview



This is an exciting opportunity to be part of Vocalink Limited, the UK company that enables the payments of 90% of salaries, 70% of utility bills, most ATM transactions and every cheque cleared in the UK. The successful candidate will become part of a high functioning team, dedicated to delivering secure and resilient services for the benefit of over 60 million citizens and the UK private, public and third sectors every day. In 2024, Vocalink is expected to process more than 14 billion transactions, with a value more than £11 trillion.



Vocalink is a Mastercard business that was acquired in 2017 and whose products include:



Bacs (Direct Credits and Direct Debits)

The Faster Payments System (FPS)

The LINK ATM network for cash withdrawal

The Image Clearing Service (ICS) that supports cheque clearing.



Role Overview



Vocalink's Commercial team, part of the wider Product Management team, is looking for a Commercial Manager to support the ongoing operation of its services. The successful candidate will be capable of supporting on a broad range of initiatives, including contract management, cost management, pricing, risk, and regulation impacting Vocalink. You will:



Contractual and Regulatory Compliance

Build expertise in key contracts and support the business in developing practical approaches to ensure compliance.

Provide central oversight of contractual compliance, working closely with Risk and Controls to ensure assurance mechanisms are in place.

Support the rollout and ongoing management of new contractual obligations.

Offer critical feedback on draft contractual terms, highlighting risks and potential challenges for Vocalink.

Collaborate with other teams to develop commercially viable solutions to business challenges during contract negotiations.

Develop a strong understanding of the regulatory landscape affecting Vocalink, including Operational Resilience and Third Party Risk Management.

Work closely with the Third Party Risk Management team to ensure compliance with contractual and regulatory obligations.

Provide practical guidance to the business on data restrictions in partnership with the Data Privacy and Protection team.

Provide coordinating input and guidance on the development and review of key commercial documents, including policies, procedures, and plans.



Commercial and Financial Support

Partner with the Product Team and Finance to provide comprehensive support on all commercial finance matters.

Develop a deep understanding of team financials, including revenue and cost drivers.

Support bids, business cases, and proposition pricing through financial modelling and analysis.

Identify and challenge opportunities to improve financial performance in collaboration with P&L owners.

Oversee the effective operation of billing and price change controls.



Strategic and Operational Support

Deliver “deep dive” reviews and surge support to the Product Team in response to emerging challenges.

Coordinate cross-functional input to ensure alignment and timely delivery of commercial initiatives.


All About You
As the ideal candidate for this position, you should be:
• A qualified accountant preferably
• Ability to read and understand complex contracts and / or regulations
• Accomplished at financial modelling and have strong analytical capabilities
• A strong communicator – both verbally and in writing
• Able to simplify complexity

• Able to work with ambiguity and in a time-pressured environment
• Able to demonstrate commercial acumen, an entrepreneurial mindset, and an ability to learn commercial contract concepts if you are not experienced in this area
• Solutions-oriented
• Passionate for continuous improvement

Corporate Security Responsibility

All activities involving access to Mastercard assets, information, and networks comes with an inherent risk to the organization and, therefore, it is expected that every person working for, or on behalf of, Mastercard is responsible for information security and must:

• Abide by Mastercard's security policies and practices;

• Ensure the confidentiality and integrity of the information being accessed;

• Report any suspected information security violation or breach, and

• Complete all periodic mandatory security trainings in accordance with Mastercard's guidelines.

 Apply on company website