MD, Payments Product & Strategy

Your Opportunity Managing Director, Payments Product & Strategy Role Overview Reporting to the Chief Operating Officer, Banking & Trust Services (BTS), the Managing Director, Payments Product & Strategy will lead Schwab’s enterprise payments ecosystem end to end. Payments are a foundational capability across Investor Services, Advisor Services, and Workplace Services, spanning the firm’s banking and brokerage entities. Each year, Schwab clients initiate more than 320 million payments and money movement transactions, representing approximately $2.4 trillion across nine or more payment mechanisms. This executive will define the multiyear payments strategy, own the move money product agenda, and lead the product management and product owner organization responsible for delivery. The role is accountable for making payments easier, more secure, more comprehensive, and more efficient - working in close coordination with Technology teams to modernize aging infrastructure and position Schwab for real time and emerging rails. In addition, this leader will oversee BTS Data and Analytics and BTS Strategy and Planning, ensuring enterprise priorities, portfolio investments, data governance, and performance insights are tightly aligned to Schwab’s long-term objectives. Key Responsibilities Firm Wide Payments Strategy: Set and execute Schwab’s multiyear payments strategy across all major rails, including ACH, wires, checks, internal transfers and journals, debit card, peer-to-peer, bill pay, RTP, FedNow, and emerging capabilities such as stablecoins and tokenized deposits. Product Ownership and Investment Prioritization: Serve as the accountable business owner for payments and move money products across the full lifecycle, balancing client experience, growth, scalability, resiliency, fraud mitigation, and risk management. Operational Money Movement Capabilities: Own the internal rails and operational capabilities that enable enterprise money movement, including journals, transfers, correspondent and clearing bank arrangements, and settlement flows. Product Leadership: Lead product managers and product owners aligned to payment rails and capabilities; establish product vision, prioritization discipline, talent standards, backlog quality, and outcome measurement. Technology Partnership and Modernization: Partner with Technology to deliver the roadmap through Schwab’s SAFe operating model, modernize legacy payments infrastructure, and advance a scalable, rail-agnostic platform. Vendor and Network Governance: Serve as the accountable executive for payment vendor and network relationships, overseeing an annual operating budget exceeding $100 million. Data, Analytics, and Insights: Lead BTS Data and Analytics, strengthening data integrity, enablement, governance, reporting, and insight generation in alignment with firm standards. Strategic Planning: Own the BTS planning process, including enterprise objectives, portfolio priorities, capacity scenarios, OKRs, and the BTS chapter of the corporate long-term plan. Leadership and Culture: Build high-performing, integrated teams across payments, data, and strategy; clarify accountability, develop talent, and reinforce collaboration and continuous improvement. Risk, Governance, and Regulatory Engagement: Ensure payments activities operate within Schwab’s risk appetite, regulatory expectations, and governance framework, partnering with first- and second-line risk teams and engage directly with the regulators, including the FRB, TDSML, and FDIC, through continuous monitoring meetings and examinations. What you have Ideal Profile Deep expertise in the U.S. payments ecosystem, including ACH/NACHA, wires and ISO 20022, checks, card networks and processors, real-time rails, digital wallets, and emerging capabilities such as stablecoins and tokenized deposits. Proven success leading payments product strategy in a large, regulated financial institution, with direct ownership of roadmaps, investment decisions, and measurable client and business outcomes. Experience leading product management and product owner teams at scale, setting standards, building capability, and developing senior product talent. Strong fluency in scaled agile delivery, including partnership with engineering, architecture, scrum teams, Agile Release Trains, and PI Planning; SAFe experience strongly preferred. Track record modernizing legacy payments infrastructure and migrating to resilient, scalable, rail-agnostic platforms. Strong command of payments risk, fraud management, operational resilience, and the regulatory environment governing money movement. Executive presence and enterprise influence, with the ability to communicate complex topics clearly to senior leaders, boards, regulators, and governance forums. Ability to set strategy and deliver results across multiple functions while balancing client experience, growth, execution discipline, and prudent risk management. Bachelor’s degree required; advanced degree or relevant professional credentials preferred. This role can be based in San Francisco, Austin, or Dallas/Fort Worth. The leader will be expected to be in the office four days a week. #J-18808-Ljbffr Charles Schwab Corporation