Product Management - VP - Product - Business Services

Sacramento, CA, United States

TITLE: VICE PRESIDENT – PRODUCTS - BUSINESS SERVICES STATUS: EXEMPT

REPORT TO: SENIOR VICE PRESIDENT - PRODUCTS

DEPARTMENT: PRODUCT MANAGEMENT

JOB CODE: 11455

PAY SCALE: $190,000.00 – $230,000.00 ANNUALLY

General Description

Product Management is responsible for the development of the overall product strategy and ongoing product management of Golden 1's Lending, Deposit and Rewards programs, which include Home Loans, Auto Loans and Deposits, Member Rewards, and Business Services. These services will advance our ability to accelerate product innovation, optimize risk management strategies, enable operational efficiency, and member satisfaction. The VP of Business Services manages all Lending and Deposit programs for Business Services.

Tasks, Duties, Functions

Product Strategy and Roadmap: Develop and refine product strategies and associated roadmap to meet the needs of our members and the financial objectives of the credit union. Incorporate market research, member/consumer insights and industry trends into to identify new opportunities for growth and differentiation.

Product Development and Management: Lead end-to-end product development lifecycle, from concept ideation to launch and post-launch performance optimization. Collaborate closely with internal stakeholders, including engineering, design, finance, risk management, marketing, and operations, to ensure successful product delivery and ongoing feature/functionality enhancements.

Customer Insights and Market Analysis: Conduct market research and analysis to evaluate member and consumer needs, competitive landscape, macro-economic environment, and emerging trends in financial services. Translate these insights into actionable product requirements, feature/functionality enhancements, pricing changes or decisioning strategy optimization.

Cross-Functional Collaboration: Work closely with cross-functional teams to gather requirements, define product specifications, and prioritize feature/functionality development. Foster strong relationships with internal stakeholders and external partners to ensure successful execution of product initiatives.

Product Performance Monitoring: Establish key performance indicators (KPIs) and metrics to evaluate the performance and success of products managed. Continuously monitor and analyze product performance, customer feedback, and market trends to identify areas for improvement and drive product enhancements.

Regulatory Compliance: Stay abreast of relevant industry regulations and compliance requirements related to retail financial services products. Ensure that products are designed and developed in accordance with applicable laws and regulations.

Leadership: Hire/Manage team to develop best-in-class financial services product management capabilities. Provide guidance, mentorship, and leadership to a team of product managers and associates, fostering a collaborative, engaging, and innovative work environment. Promote continual learning, professional growth, and development within the team.

Plan, organize, direct, and manage budgetary activity for direct reporting departments. Coordinate and manage any business cases developed to support product investment.

Represent credit union in contacts with business and trade associations, members, and regulatory agencies. Attend civil functions and otherwise promote the credit union’s image.

Travel as required.

Develop and maintain an understanding of the pertinent regulatory requirements and risks inherent to job responsibilities, establish, and maintain control activities that mitigate those risks consistent with the Credit Union’s risk appetite, and ensure operational integrity and compliance with applicable regulations.

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

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: Board of Directions, 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: Fifteen years of professional experience with ten years or more of product management experience, with a focus on product management within financial services organizations

KNOWLEDGE / SKILLS:

Demonstrated excellence as a strategic thinker who can put plans into action to achieve mutually agreed upon goals in a fast-paced professional environment.

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

Excellent communication, collaboration, and leadership skills, with the ability to influence and inspire cross-functional leaders and teams, vendors, and other credit unions.

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

Effectively manage credit union resources and foster bottom line accountability.

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 desirable but not essential.

THIS JOB DESCRIPTION IN NO WAY STATES OR IMPLIES THAT THESE ARE THE ONLY DUTIES TO BE PERFORMED BY THIS EMPLOYEE. HE OR SHE WILL BE REQUIRED TO FOLLOW OTHER INSTRUCTIONS AND TO PERFORM OTHER DUTIES REQUESTED BY HIS OR HER SUPERVISOR THAT ARE WITHIN HIS / HER KNOWLEDGE, SKILL AND ABILITY AS WELL AS HIS / HER MENTAL AND PHYSICAL ABILITIES.

REV. 9/27/2023

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