Product Development Director Jobs in Toronto, ON

Our Purpose

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're helping build asustainableeconomy where everyone can prosper. We support a wide range of digital payments choices, making transactionssecure, 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

Director - New Product DevelopmentOverview
Mastercard Foundry is the innovation engine of Mastercard and a hub for new product development. We do this by driving product innovation in emerging technologies and interfaces while focusing on developing a point of view to enhance existing solutions and new use-cases. We also focus on building revenue generating ecosystems and flywheels that can be standalone in adjacent segments and markets. Examples of focus areas include commercial payments, new payment flows, real time payments, data and services.
This role sits at the intersection of Open Finance and Business & Market Intelligence, with a strong emphasis on shaping platform-level capabilities-including data sharing frameworks, consent infrastructure, identity, and API-driven ecosystems.
The Director, New Product Development will support the identification, design, and delivery of new-to-market products that enable secure, scalable, multi-sided data ecosystems. This includes both near-term commercial opportunities that drive revenue and differentiation as well as longer-term platform bets that establish Mastercard as a leader in open data networks and financial connectivity. This role requires operating in high ambiguity, translating business strategy into platform constructs, and driving alignment across internal and external stakeholders.
Role
- Engage in idea generation for new to market products and solutions including workshop facilitation and collateral development.
- Facilitate the development of product concepts and prototypes, including independently owning and delivering key workstreams.
- Partner with Product & Engineering and Foundry's CX&D team on concept validation and market testing.
- Contribute/own business case development and go-to-market planning for individual products.
- Own and deliver high quality materials to facilitate internal and external decision making.
- Foster innovation and new idea generation.
- Translate business opportunities into scalable platform architectures in partnership with R&D teams
-Identify and prioritize high-impact use cases across domains (e.g., financial services, lending, insurance, payroll, commercial data).
-Work within a matrix organization to influence and drive outcomes within tight timelines.
All About You
- Proven experience in 01 product development within complex enterprise environments
-Strong experience in Open Finance, open banking, data platforms, or API ecosystems
- Ability to think beyond features to platforms, protocols, and ecosystem design
- Deep understanding of multi-sided marketplace dynamics and data value exchange models - Strong analytical, communication, and executive storytelling skills
- Previous experience working in the payments innovation space delivering new to market value propositions strongly preferred.
- Appreciation for AI-driven and agentic patterns in data ecosystems is a plus.
- Critical thinker that is comfortable with technical details, and experience working with R&D teams.
- Flair in connecting people and ideas; ability to operate in a matrix environment.Mastercard is a merit-based, inclusive, equal opportunity employer that considers applicants without regard to gender, gender identity, sexual orientation, race, ethnicity, disabled or veteran status, or any other characteristic protected by law. We hire the most qualified candidate for the role. In the US or Canada, if you require accommodations or assistance to complete the online application process or during the recruitment process, please contact reasonable_accommodation@mastercard.com and identify the type of accommodation or assistance you are requesting. Do not include any medical or health information in this email. The Reasonable Accommodations team will respond to your email promptly.

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.

In line with Mastercard's total compensation philosophy and assuming that the job will be performed in Canada, the successful candidate will be offered a competitive pay based on location, experience and other qualifications for the role and may be eligible to participate in a discretionary annual incentive program. This posting reflects one or more current openings on our team.

Pay Ranges

Toronto, Canada: $150,000 - $234,000 CAD