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BMO Financial Group Product Manager: Rewards Program in Chicago, Illinois

Loyalty programs are a major driver of customer engagement with most businesses and are the most important factor customers consider in choosing a credit card. The brand perception, customer experience and overall value of a loyalty program underpin the success or failure of a credit card portfolio.

The Product Manager, Rewards Manager is accountable to manage all facets of a Credit Card Rewards program. This role reports into the Director, NA Proprietary Rewards Programs and has two major elements:

  • Rewards program design and development

  • Rewards program management.

Rewards program design and development

  • The loyalty landscape is evolving very quickly driven by innovation in technology and business models across a range of industries. This role is accountable for ensuring that our rewards program provides best in class loyalty experiences that drive customer loyalty and financial performance.

This accountability includes:

  • Working with the Director, NA Proprietary Rewards Programs and key Stakeholders to develop the strategy and roadmap for the rewards programs based on deep customer insights

  • Designing, building and enhancing the rewards program to deliver an exceptional customer experience

  • Optimizing the rewards offering and customer journey

  • Continually finding ways to enhance customer engagement and the loyalty experience through innovative new value-added services and engagement tools

  • Continually monitoring the competitive environment and anticipating customer needs

  • Working with the Director, NA Proprietary Rewards Programs and other key stakeholders (internal and external) to develop new loyalty partnerships to deliver more value and enhance customer experiences

  • Periodically participating as a core team member in selecting loyalty vendors and partners and negotiating contracts

Rewards program management

  • Effective management of the rewards programs is critical to delivering the right customer experience, supporting the growth objectives of the business, managing costs and profitability, and managing risk.

This role is accountable for the day to day management of a rewards program, including:

  • Actively managing reward costs and outstanding liabilities, including planning and forecasting, reporting and insights, reward offering and mix, and marketing activities to drive more profitable customer redemption behavior

  • Managing rewards program suppliers (i.e. TLP, TSYS, HINDA, etc.),, including managing contracts, performance metrics, profitability, due diligence and the day-to-day relationship

  • Effectively managing risk, including rewards fraud, and ensuring compliance with all laws, rules and BMO policies

  • Ensuring effective policies, procedures and processes

  • Leading and/or participating in initiatives across the bank related to rewards programs and resolving issues and customer escalations.

  • Building and executing a customer communications and engagement plan to maximize engagement with the rewards program

  • Sharing rewards program subject matter expertise with internal product managers to lead and shape customer engagement

  • Prepare and lead the quarterly liability review process for the rewards program

Knowledge & Experience

• Strong track record delivering results in ambiguous and challenging situations

• 4-6 years loyalty program and/or product management experience

• 2-3 years partnership management

• P&L accountability and payments experience preferred

• Minimum undergraduate university degree, an MBA or other post-graduate degree, or equivalent industry related experience preferred


• Strategic thinker who can develop and execute near-term and long-term strategies and roadmaps

• Proven ability to build relationships with external partners and colleagues across different business units and groups

• Proven ability to influence without authority and drive change

• Able to think like a customer and design the right customer experience

• Proven ability to manage multiple facets of a complex business and effectively prioritize most important business levers and initiatives

• Excellent business acumen and financial, analytic and business casing skills

• Very strong communication skills (oral and written) with ability to frame and effectively communicate complex problems

• Excellent problem-solving skills

• Team-oriented, collaborative and flexible

• Strong time management and project management skills

• Risk management capabilities

We’re here to help

At BMO Harris Bank we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO Harris Bank team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

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BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. BMO Harris Bank N.A. is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO Harris Bank does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO Harris Bank, directly or indirectly, will be considered BMO Harris Bank property. BMO Harris Bank will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.