Description
GENERAL SUMMARY: The Consumer Lending Product Manager is responsible for the full product management oversight of Auto/RV, Unsecured Personal, Home Equity and Mortgage Loans. Primary responsibilities include competitive analysis, creation of go-to market strategy, pricing governance, portfolio analysis, improving operational efficiencies, and the member experience of loan products. This role will partner closely with Lending, Marketing, Finance, Legal/Compliance, Consumer Banking, Digital Banking, and Technology. The Product Manager will strive to drive awareness, adoption, and origination of loan products by ensuring the right product fit for target members. QUALIFICATIONS: Minimum Education & Experience Requirements:
- Bachelor's Degree Required in Business, Finance, Marketing, Product Management; Masters Preferred
- Minimum of seven (7) years in Product Management
- To include two (2) years of financial services experience with exposure to Consumer Lending products
Minimum Knowledge & Skill Requirements:
- Working knowledge of financial services industry, loan products, lending regulations
- Understanding of product management and marketing lifecycles
- Loan portfolio management and oversight
- Comfortable with data and extracting insights
COMPETENCIES:
- Business Acumen
- Presentation Skills
- Innovation Management
- Problem Solving
- Peer Relationships
- Process Management
WORKING CONDITIONS/ENVIRONMENT: This job requires the employee to sit or stand for extended periods of time. Infrequent lifting up to 25 lbs. OTHER REQUIREMENTS: Must comply with all aspects of the Bank Secrecy Act (BSA). Must be able to obtain license through the Nationwide Mortgage Licensing System & Registry (NMLS). MAJOR ACCOUNTABILITIES AND TASKS:
- Develop, execute, and manage full product management system for loan products including, but not limited to, competitive analysis, pricing strategy, target market refinement, go-to market campaign development, performance analysis, operational improvement, and member experience
- Partner with key stakeholders across the organization to increase awareness, drive adoption, increase originations and balances of consumer loan products
- Develop year-long go-to market strategies and campaign calendars in partnership with Marketing for each product complete with target selection criteria, offer determination, channel optimization, budget, and expected ROI
- Perform routinized analysis and develop dashboard reporting of campaigns and product performance to be shared with various audiences on monthly, quarterly, and annualized basis
- Create product roadmaps to highlight product enhancements, operational efficiencies, member experience improvements, etc.
- Challenge the status quo and be a champion of automation and operational improvements as it pertains to loan products
- Monitor competitive pricing, go-to market strategy, offers, and experience
- Manage third party vendor relationships for consumer lending products
- Re-evaluate full product suite to determine the right products to serve our members needs
- Complete full journey map of loan processes to reduce friction for members and internal stakeholders
- Serve as Business Lead for cross functional projects as it pertains to lending product initiatives
- Collaborate with IT, Consumer Banking, Operations, Training, Marketing, and other stakeholders to develop, assess, test, and launch products and enhancements on time and budget
- Develop product requirements translating product objectives into detailed requirements for product teams including business use cases, process mapping, and system requirements
- Collaborate with Finance to develop plug and play frameworks for pricing governance and campaign offer determination
- Conduct member research to understand life stage needs, product awareness/adoption, and market trend analysis
- Present product roadmaps, updates, performance, etc. at various committees
- Partner with compliance, enterprise risk management, internal audit, and other stakeholders to ensure loan products, services, and fees are compliant with all applicable laws and regulations
- Provide updated content to training team to ensure current loan product training materials
- Develop, update, and maintain appropriate policies and procedures for consumer loan products
- Assess and evaluate third party vendors for additional access channels and/or asset classes
- Review individual product level metrics to assess originations, balances, delinquencies, charge offs, interest income, etc to observe trends and make program recommendations
- Collaborate with AVP of Consumer Lending and SVP of Mortgage on fintech partnership engagements
- Prepare files and documentations for audits, loan participations, and regulatory initiatives.
- Performs other duties as assigned.
Salary Range: $82,623.08-$108,442.79. Job Grade 15, Exempt. Final salary is dependent on a candidate's experience and qualifications. Equal Opportunity Employer Veterans Disabled
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