Senior Product Manager
The Senior Product Manager will be primarily responsible for Wealth Management products, and to build strategies to attract and retain high net worth clients. Wealth Management products and programs include, but are not limited to: Life Insurance, Disability, Long-term Care, Retirement Plans, Mutual Funds, Annuities, Investment Management Programs, Trust, and Structured products.
Manages the most complex and strategic products, product lines, or product suites for the bank. Interfaces with all levels of management throughout the Corporation. Excellent knowledge of assigned products (strategy, competition, operations, regulations, compliance, etc.) and the product management function. Strong understanding of the bank's entire suite of products, how they fit together, how strategically positioned and sold, etc., to provide the appropriate products and services to our clients. Excellent project planning and managerial skills are required to plan, assign and monitor all assigned projects. Extensive industry/business knowledge necessary. Displays creativity when designing solutions to problems.
Product Management is an ongoing cycle. It begins with analysis of needs and opportunities, leading to product development. Once the product is developed, colleagues must be trained, policies and procedures developed, pricing and positioning established, and marketing materials created. Subsequently, product tracking occurs, followed by analysis and recommendations to enhance the product to provide better service to clients or to be more competitive in the marketplace.
Product Management coordinates and manages the formulation and implementation of all activities for a specific product or product line from conception to marketplace; performs economic and market research and analysis; provides product documentation and training; and serves as technical advisor on matters concerning the designated product and/or product line.
- Manage assigned products/product lines.
- Identify, evaluate and implement measures to improve product performance, profitability, competitiveness and accountability.
- Identify, evaluate and implement opportunities/needs for product enhancement and development. These opportunities may be identified through: regular market and competitor analysis performed by the product group; solutions developed as the result of client needs; suggestions from the line or Product Review Committee (PRC) or that meet a specific bank initiative or new client niche.
- Prepares reports and analyses on assigned products/product lines and presents to Bank Management on a regular basis. Focus of reports/analyses may be market or competitive issues, special economic and risk factors, pricing, product strategy, profitability, etc.
- Keep up to date on competition, regulation, marketplace, and internal and external issues related to assigned products.
- Develops information materials on product features, benefits, requirements, pricing and services, and prepares and executes training seminars as needed. (Includes Marketing One-Sheets and annual fee increase training.)
- Review product pricing on an annual basis for all assigned products. Make recommendations and implement including disclosure, training, and colleague communication.
- Monitors development activities relating to meeting product objectives, budget, quality standards and schedule.
- Recommends and implements programs to minimize costs, ensure optimum output and maintain quality. Advises on the solution of technical problems, priorities, and methods.
- Participates in product evaluation; provides recommendations for changes and revisions as required.
- Serves as product expert for a variety of issues -- advice/guidance on sales, "How to position and sell product", operational support for technical product issues, etc.
- Manage Product Management portion of acquisition conversions -- product mapping; check orders, product analysis/comparisons, "Welcome to CNB" package support, IRG support, etc.
- Fosters and maintains good relationships with colleagues to ensure that processes are integrated to support expected customer service levels. Acts as business partner by managing expectations and providing guidance and advice regarding assigned product.
- It is the individual responsibility of every employee to maintain a current awareness and understanding of appropriate banking laws, regulations, internal policies and procedures, and to comply fully with those laws, regulations, policies and procedures.
- Have extensive knowledge of deposit, brokerage and investment interest bearing products
- Excellent financial and mathematical skills -- past experience in managing P&L and in creating and managing financial models.
Job Skills and Knowledge:
- Bachelors Degree or equivalent experience.
- Excellent organizational, problem solving, analytical, planning, and scheduling skills.
- Strong leadership and negotiation skills.
- Extensive industry/business knowledge.
- Excellent verbal and written communication skills, as well as, strong presentation skills.
- Proven experience in demonstrating initiative in creating and maintaining positive business relationships with various unit managers.
- Project management experience with the ability to concurrently manage multiple projects and timeframes is necessary.
- CFA or CFP desirable.
- Excellent verbal and written communication skills necessary to prepare comprehensive reports, make presentations and communicate with all levels of Bank management.
- Proficiency in Excel, Word, and PowerPoint are essential; Access and other advanced programs would be beneficial.
- Minimum 7 years of product management experience required.
- Minimum 5 years of wealth management and or banking experience required.
- Minimum 5 years of experience managing medium to large projects required.
Represents the basic qualifications for the position. To be considered for this position you must at least meet the basic qualifications.
City National Bank is an Equal Opportunity Employer -- Minorities/Females/Individuals with Disabilities/Veterans.
Note: The Preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Note: Candidates should be advised that City National Bank does not pay interviewee travel expenses or relocation expenses for candidates who are hired unless previously agreed.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
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