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Senior Product Manager

Company Name:
ACG Resources/Adams Consulting Group, LLC
Commercial Bank client seeking Senior Product Manager for Westchester location.
Purpose : Develop and manage assigned banking products with the responsibility for the marketability and profitability of products, develop and recommend strategies, set goals and forecast for products at all stages of the product lifecycle with the objective of maximizing sales revenues, expanding market share and increase profit margins
Job Summary: The individual in this position will manage the Bank's business deposit products and related services to ensure customer satisfaction, bank profitability and marketplace competitiveness as well as compliance with Federal and State bank regulations. This position will also take the lead role in identifying new products to be developed, write a business case, obtain approval and then manage the development, implementation and roll out of the product, as well as ongoing reporting and upgrades. The Senior Product Manager will also be responsible for working with the Marketing & Communications Department, Business & Professional Banking and Branch Administration to develop and maintain appropriate marketing collateral materials and sales support materials for all business deposit products and deposit-related services.
Principle Responsibilities: Primary responsibilities of the Senior Product Manager's position include

Manage and oversee all aspects of business deposit products and related services including features and functionality, pricing, marketability and compliant with regulatory requirements.
Identify, develop and implement new deposit products and related services or enhancements to current products and services by creating a business case for each opportunity including pricing strategy and market positioning, obtain approval from legal, compliance and senior management, develop Bank Policy & Procedures and appropriate Disclosures, Terms & Conditions. Will also be responsible for managing the roll-out of the product including the development of marketing programs, collateral materials, sales training and support materials. Conduct training sessions when necessary.
Identify new product opportunities or enhancements by conducting competitive research. Assess the market for new and existing products utilizing database management, marketplace data, and feedback from Branches and Business & Professional Banking.
Formulate pricing strategy, develop product P&L's, monitor product profitability and take appropriate action where necessary. Conduct an annual review of competitors' service charges in conjunction with a review of the Bank's pricing and where appropriate, recommend changes.
Liaise with the Bank's Technology Department to ensure that the product setup is consistent with the Bank's product offerings
Liaise with Bank's Compliance Group to ensure that products and services are in compliance with all laws and regulations and appropriate Policies and Procedures, Terms & Conditions and general Disclosures are in place. Ensure that all systems are updated as required.
Work with Branches, Business & Professional Banking and other customer contact personnel to field customer inquires/complaints regarding specific products and partner with the appropriate operations units to correct. Solicit feedback from customers and employees on product performance.
Manage external vendors including performance and pricing and provide a recommendation to continue or replace when necessary. As appropriate negotiate vendor contracts and obtain approval for execution.
In conjunction with Marketing, manage the development and roll out of special programs, collateral materials and support materials for new product offerings and product changes, as well as existing products. Coordinate communications about new products and changes internally, as well as to customers, and the general public, including mailings, e-mails, etc.
Work with the Training Group to provide support in new product launches or initiatives.
Develop special ad hoc programs in response to competitive situations.
Complete other tasks and projects as assigned.

Required Skills and Abilities: The individual in this position will have the following skills and abilities
Ability to work independently with minimal supervision.
Ability to manage multiple projects simultaneously.
Ability to "team/project" manage others in a matrix environment by utilizing influencing skills.
Ability to work well with others in a team project and matrix management environments.
Strong business and financial analytical skills in order to conduct profitability analysis on new and existing products.
Strong working knowledge of deposit operating systems.
Understanding of bank sales processes for both branches and relationship managers.
Excellent organization and planning skills
Ability to speak effectively and a make a presentation to customers or employees.
Compliance Knowledge: The individual in this position will have the following compliance knowledge.
Knowledge of banking regulations pertaining to consumer and business deposit products
Knowledge of CRA requirements

Education: Bachelor's Degree is required. Will accept relevant work experience in lieu of a Bachelor's degree.

Experience: The individual for this position should have the following work experience.
10+ years or more of experience in the banking industry or related field. Knowledge of the New York Metropolitan markets a plus.
7+ years experience in the area of product management with experience in deposit products in general and business deposit products specifically a plus.
Experience working in a branch or with small businesses is a plus.

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