The Product Manager isresponsible for profit and loss of the Consumer Deposit ProductPortfolio while maintaining and improving the Customer and Employeeexperience. This includes analyzing customer behavior trends,forecasting future performance, and partnering with teams across the organization to create and implement solutions.
• Maintains Company’s existing and new product line pricing structures, strategies and tactics to meet changing environment, customer preference and revenue targets.
• Ensures prices and programs comply with Company pricing strategy and constantly monitor profitability and key drivers to improve results. Where required, develops analytical processes and evaluates pricing data on a daily basis.
• Implements pricing processes for modeling, volume forecasting and measurement to identify key performance indicators.
• Maintains tools and models, where required, that would allow testing of price elasticity.
• Works with Research and Risk management to ensure profitability goals, customer needs and that credit decisions optimize risk/rewards.
• Supports the product management budget for specific products to ensure objectives can be achieved within budget and meets or exceeds profit and loss goals.
• Communicates changes in expenses and works to manage them to meet revenue goals.
• Evaluates the presence and relative importance of key product deliverables. Participates in developing annual business and expense plans for each product and monitors results adjusting the plan to meet the changing environment and budget targets as necessary.
• Collaborates with Risk Management and other key business partners to identify and maximize profitability via management of risk levels and ensure risks are mitigated.
• Builds strong relationships with key business partners. Ensures ongoing successful communication of the direction of the product life cycle.
• Acts as integrator/liaison between distribution channels, enterprise and marketing department influencing and negotiating options to enable the achievement of successful and profitable product enhancement and design.
• Coordinates conversion efforts of products, services, programs and offers of acquired company into overall Company product offerings.
• May lead projects involving necessary key business partners and personnel from acquired company, ensuring smooth transition.
• Participates in training design with the training department and others to educate appropriate staff on re-engineered or new products to support effective introductions of new initiatives. May prepare informational materials as necessary.
• Ensures all products are in compliance and meet all regulatory requirements.
• Bachelor’s degree or progressive work experience in addition to experience below
• 5+ years related experience required
• Strong financial analysis skills required – the ability to review and decipher large amounts of data to determine trends
• Experience in product design in a financial/banking environment
• Strong communication, problem-solving and decision making skills with ability to effectively communicate with senior managers
• Ability to build strong collaborative business relationships
• Ability to negotiate and apply skills to exercise influence over others decisions without express authority and influence change
• Demonstrated experience in project management and building project plans and presentations
• Solid understanding of product pricing and financial concepts
• Ability to think both tactically and strategically
• Experience with Microsoft Excel and Microsoft Access is desirable