Director of Product Management - Military veterans preferred

Purpose: The Director of Product Management is responsible for the development and successful execution of a product roadmap that improves our customers’ financial well-being, the management and improvement of our product environment, and the development of pricing and promotion strategies that support growth goals. This dynamic leadership position oversees the Product function, which plays a critical role in fulfilling our promise to deliver a simple, connected and trusted customer experience. The director leads a team of Product Managers and analysts who ensure sound management of existing products, deliver marketplace and product performance insights, advance product changes and launches, and drive pricing and promotion recommendations to remain competitive. This role works closely with senior leaders across the Company, including finance, consumer and commercial banking, technology, marketing, operations and compliance to refine strategy as well as strengthen cross-functional processes that enable the successful creation, delivery and performance of offerings for our customers. The team leads product management for consumer and commercial deposit products, cash management services, and all card-based products; it provides a second line of support for our lending and wealth management lines of business.

Essential Functions:

• Develops and evolves a strategic and data-driven product roadmap designed to achieve enterprise goals and meet customer needs. Leverages competitive and market research to ensure we are developing products that meet the needs of our preferred customer segments as well as targeting most appropriate prospects.
• Leads Product Managers in the development of new Bank products, as well as the ongoing management and improvement of existing Bank products.
• Leads pricing and promotion recommendations to support growth objectives, in particular deposit pricing strategy.
• Ensures a data-driven culture by using reporting on product performance, utilization and profitability to make decisions and inform strategy.
• Prioritizes compliance and the customer experience by closely collaborating with Operations, Technology, Retail and Risk to ensure what is designed is built, delivered and functioning as intended; partners closely on solution design when needed.
• Develops and strengthens processes and procedures for the Product team that provide sound change management and product governance.
• Cultivates strong and clear communication methods from Product Management to the enterprise about our product set and changes to it to empower our sales teams.
• Represents the Product function on ALCO, NPA and other internal governance bodies. Reviews and reports on the financial impact related to new product development, pricing strategies and new program launches.
• Work collaboratively with Marketing and sales team to promote and stimulate sales of assigned product sets
• Demonstrates the standards and principles of the Five Star experience in every interaction with internal and external customers and associates. Incorporates the high-performance behaviors of teamwork, leading by example and service in every facet of work.

Job Related Qualifications:

Required:

• Education: Bachelor’s Degree in Product Management, Business, Market Research, Marketing, Finance or related field. Master’s Degree preferred.
• Prior Experience: 7+ years in Product Management, with a concentration in financial services. Equivalent combination of education and experience is considered in lieu of education.

Competencies:

• Ability to drive strategic direction that is grounded by a solid understanding of our environment, teams and enterprise needs.
• Strong leadership skills, with a proven ability to develop and mentor others, build collaborative relationships and foster teamwork cross-functionally so we arrive at the right solutions, processes and outcomes for the enterprise.
• Extensive knowledge of bank products and services, in particular deposit products.
• Analytical ability to interpret data and present it in a meaningful and easily understood form.
• Excellent project management and organizational skills to support efficient and effective processes and workflows for the department, as well as thoughtful prioritization of initiatives.
• Excellent written and verbal communication skills to represent Product Management at all levels, including within the team, among peers, executive leadership and governance committees.
• Proficient in digital tools, including Microsoft Office with ability to learn and utilize new and existing banking software applications
• Ability to work with all levels of staff and share ideas to achieve companywide results

Physical Requirements:

• Able to regularly sit for prolonged periods of time.
• Able to regularly stand for prolonged periods of time.
• Able to travel: occasionally
• Extensive computer usage is required.
• Ability to work evenings and weekends occasionally.

Benefits:

• Medical, Dental, and Vision Insurance
• Health Savings Account
• Flexible Spending Account(s)
• Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability
• Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident
• Tuition Reimbursement
• Employee Referral Program
• Wellness Reimbursement Program
• Star Volunteer Program
• Employee Banking and Financial Perks
• Flexible Hybrid Work Schedule
• Paid Time Off (PTO)
• Company Paid Holidays
• #LI-Hybrid

This job description is not exhaustive. The Director of Product may be required to perform other duties as assigned. The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.