What are the responsibilities and job description for the Manager, Pricing position at Fortis?
Description
At Fortis, we lead the way in next generation payment technologies and solutions. We transform payments into a competitive advantage for our clients and partners, enabling businesses to reach uncharted growth and scale. As the solution of choice for the future of payments, Fortis moves payments closer to invisible with a proprietary platform that supports and strengthens the payments capabilities of merchants and software partners. We are a collaborative team of innovators, problem solvers, and builders, committed to the growth of our clients, partners, and team members. Through award winning software integrations, robust data, and industry vertical and commerce expertise, we deliver the ultimate frictionless commerce experiences. We are in hyper growth mode and seeking talented, innovative, and collaborative problem solvers to help us build and scale the future of payments. Grow your career with us and be on the cutting edge of the rapidly expanding FinTech payments space.
OVERVIEW:
The Pricing Manager is responsible for driving financial performance through strategic pricing, interchange optimization, and accurate residual management. This role partners cross-functionally with Finance, Sales, R&U, BI, and Development to ensure pricing integrity, profitability, and operational efficiency across Fortis’s merchant portfolio.
Key Responsibilities:
Merchant Pricing & Profitability Optimization
- Manage Interchange qualification and optimization through partnership with development team (CEPD project).
- Develop and refine merchant pricing strategies, including Interchange Plus, Tiered, and Flat Rate models.
- Analyze transaction fees, interchange costs, and risk factors to improve pricing models.
- Work with sales teams to structure competitive and profitable merchant pricing agreements.
- Implement repricing initiatives that align with card releases in addition to off-cycle actions.
Residual Analysis & Financial Management:
- Reconciliation of incoming monthly residual payments and other primary sources of revenue (gateway).
- Monitor revenue trends and identify discrepancies in residual payments.
- Prepare sales incentive analyses for new partner relationships (dev incentives, Schedule A approvals per authorities matrix).
- Reconciliation of outgoing residuals to ensure alignment with Schedule A and expected margin.
Strategic Collaboration & Process Improvement:
- Implement process improvements to streamline Merchant Pricing and Profitability Optimization responsibilities.
- Partner with BI and Underwriting to ensure access to necessary data is available and centralized.
- Ensure compliance with industry regulations, contractual agreements, and internal financial policies.
PM22
Requirements
Required Skills & Qualifications:
- 4 years of experience in financial analysis at a payment processing company.
- Bachelor’s degree in Finance, Accounting, Business, or a related field.
- Strong analytical skills with a solid understanding of Interchange, card brand fees, merchant pricing models, and residual revenue structures.
- Advanced proficiency in Excel and financial modeling tools (experience with BI tools is a plus).
- Experience with payment processing platforms (particularly Fiserv)
- Ability to work cross-functionally and present complex financial data to stakeholders.