Vice President , Payment Solutions

Giesecke & Devrient is a leading worldwide supplier of banknote paper, banknote processing/automation systems, as well as smart cards and complex systems solutions that serve the telecommunications, electronic payment, health care, identification, transportation, and security markets.  G & D America, Inc. is a subsidiary of Giesecke & Devrient and generates close to $200 MM a year in revenue.  G & D America designs, develops, and manufactures banknote processing systems and smart card solutions for a range of end users.  Banknote processing represents approximately 2/3’s of North American revenues, while the smart card business represents 1/3.  The smart card business is comprised of a number of segments that include telecommunications (SIMS Card), government solutions (transit), new business ventures, and payment/banking solutions (payment cards).

The position of Vice President, Payment Solutions, reports directly to Steve Reber, President, G & D America, along with a Vice President of Banknote Processing; Vice President, Government Solutions; a CFO; a Vice President, Manufacturing; and an attorney.  Overall, G & D America employs approximately 600 people.  Reporting to this Vice President, Payment Solutions, is an organization of 23 people including a manager of the banking segment (5 sales, 1 project manager report), new business ventures (3 reports), engineering (6 reports), customer service (2 reports), a Visa Key Account Manager, and a manager of the telecommunication segment (5 reports).  It is unclear as to whether the telecommunications segment will remain a report to this Vice President; much will depend on the background of the selected hire.  In general, the banking/payment sector of G & D America manufactures Magstripe and contactless Smart Cards that are sold to a number of segments, foremost of which are large credit card issuing banks.  In addition, Smart Cards are sold to credit card brand owners (Mastercard, Visa) as well as retail and corporate segments.  The Magstripe business is viewed as a niche business as the overall market is commodity oriented while the contactless business is a high growth segment where customers seek added value and new solutions of interest to their customer base.  While the contactless business has enjoyed especially rapid growth over the last 3 to 4 years, the company is experiencing some capacity issues at its main plant location in Ohio.  Company management expects to resolve this issue soon such that the company can maintain its rapid growth.

The sales approach with the larger banks is one of direct sales to a number of stakeholders in their credit card divisions.  In some cases, the company also sells to the service providers whose business it is to personalize the card with user confidential information.  In the Smart Card business, G & D America is known for high quality products, exceptional customer service, fast customer turn around, and competitive pricing.  While there are a number of ways to measure and assess the success of this Vice President, it is expected that this business segment will continue to grow at least at a 10% to 15%  annual top line rate, continue to improve its operating margins, maintain strong market share (20% in the US market), maintain especially strong relationships with its key customers and service providers, and bring new technology/areas of applications to its customers.  Given the relative small size of the Payment Solutions organization (23 people), this VP is expected to be very hands on and involved in all aspects of the business including building strong customer relationships as well as working closely with the technical side in developing applications that will continue profitable growth.  Moreover, given that G & D America has a large worldwide presence in the Smart Card business, there is an ongoing dotted line relationship with a number of key people at the Company’s German headquarters.  Thus, the ability to manage these relationships is especially important as well as the ability to manage a P & L.  Moreover, this person must remain closely connected to the factory to insure customer needs are satisfied.  

Candidates for this position must possess a solid academic background along with relevant experience in the banking/financial segment of the Smart Card industry.  In addition, a strong working relationship with the credit card brand owners as well as service providers is essential along with a solid understanding of Smart Card technology and/or associated IT Security protocols.  An experience track that reflects a sales/marketing bias is desired along with a demonstrated record of success in prior assignments.  The importance of building and maintaining great relationships with all of the stake holders cannot be underestimated.  Hence, a strong multi-cultural work background is preferred along with a personal style that is focused, adaptable, results oriented, and able to work independently.  An ability to lead, motivate, and manage a high performance team is expected along with a passion for the business.

Compensation:A base plus bonus that will pay in the high $100’s/low $200’s.

Contact: Interested candidates should email resumes to: ksfrary@comcast.net