Product Management - Product Manager - Credit Cards and Personal Loans - Lines

Sacramento, CA, United States

TITLE: PRODUCT MANAGER - CREDIT CARDS AND PERSONAL LOANS AND LINES

STATUS: EXEMPT

REPORTS TO: VP - PRODUCT MANAGEMENT

DEPARTMENT: PRODUCT MANAGEMENT - LENDING

JOB CODE: 11542

PAY SCALE: $108,500.00 – $130,000.00 ANNUALLY

General Description

The Product Manager is responsible for participating in the development, implementation, and management of financial products within a company or financial institution. They assist in the identification and execution of product strategies to meet the organization's financial goals and objectives.

Purpose Statement

To efficiently and effectively deliver financial products and services that meet members’ needs and improve financial health. Ensure the financial safety and soundness of Golden1 through managing and enhancing product features and functionality, enabling sustainable growth, and managing economic returns.

Tasks, Duties, Functions

Product Strategy and Development: Collaborate with cross-functional teams to define the strategic direction and goals for credit union products. Coordinate market research and analysis to identify customer needs, market trends, and competitive landscape. Develop product roadmaps, feature sets, and pricing strategies.

Product Lifecycle Management: Coordinate with internal stakeholders, including product development teams, marketing, sales, legal, and compliance to ensure timely product delivery and adherence to regulatory requirements.

Consumer Insights and Market Analysis: Monitor market trends, competitor activities, and customer feedback to identify opportunities for product enhancement and innovation. Conduct competitive analysis and benchmarking to ensure the company's financial products remain competitive and relevant.

Cross-Functional Collaboration: Build strong relationships with key stakeholders, including internal teams, senior management, members, and external partners. Collaborate with cross-functional teams to ensure alignment and successful execution, gather business requirements, define product specifications, and prioritize feature/functionality development. Act as a subject matter expert on financial products, providing guidance and support to internal and external stakeholders.

Product Performance Monitoring: Develop monitoring and reporting on key performance indicators (KPIs) to measure the success of financial products. Analyze product performance data, customer feedback, and market trends to identify opportunities for improvement and growth. Generate regular reports and presentations to share insights with senior management.

Regulatory Compliance: Understand how compliance requirements related to retail financial services impacts product design and functionality. Ensure that products are designed and developed in accordance with applicable laws and regulations.

Risk Assessment and Compliance: Collaborate with risk management and compliance teams to assess and mitigate risks associated with financial products. Ensure compliance with industry regulations, legal requirements, and internal policies. Develop and maintain product documentation, including terms and conditions, disclosures, and user guides. Plan, organize, direct, and manage budgetary activity for direct reporting departments. Coordinate and manage any business cases developed to support product investment.

Innovation and Future Planning: Stay up to date with industry trends, emerging technologies, and regulatory changes that impact financial products. Identify opportunities for product innovation and propose new product initiatives to drive growth. Collaborate with product development teams to conceptualize and prototype new product ideas.

Travel as required.

PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS:

Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine, and telephone.

Organizational Contacts & Relationships

INTERNAL: Management Group and Staff

EXTERNAL: C.C.U.L., community organizations, vendors, suppliers, and peers in financial institutions.

Qualifications

EDUCATION: Bachelor's degree in related field plus equivalent work experience; advanced degree preferred.

Experience

Seven years or more of product management or consumer lending experience, with a focus on product management within financial services organizations.

Three years’ experience in the analysis and reporting of consumer credit product and/or marketing data.

Knowledge/Skills

Good understanding of financial markets, products, and regulatory frameworks.

Proven experience in product management, preferably in the financial services industry.

Sound analytical, problem-solving, and strategic thinking skills.

Strong project management and organizational skills, including the ability to prioritize tasks, manage timelines, and deliver results in a fast-paced environment.

Effective communication and presentation skills with the ability to collaborate and influence cross-functional leaders and teams, and vendors.

Ability to collaborate and influence cross-functiona l teams.

Proficiency in data analysis tools and techniques to pull, report, and analyze performance data for acquisitions and account management programs.

Familiarity with Agile methodologies and product development frameworks.

Good understanding of the retail financial services market and products including digital transformations, use of analytics, cross-functional execution, and regulatory requirements.

Physical Requirements

Prolonged sitting throughout the workday with occasional mobility required.

Corrected vision within the normal range.

Hearing within normal range. A device to enhance hearing will be provided if needed.

Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.

Extensive travel by car or public conveyance for out-of-area locations or across the United States.

Licenses/Certifications

Possession of a valid California driver's license is desirable but not essential.

REV. 2/8/2024

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