Job description
The Credit Product Manager operates independently and provides leadership in the development of the banking strategy for loan products, providing marketing oversight and support to Commercial and Community Banking Teams. This role is accountable for the strategy development, recommending new product features and services, driving product innovation, market penetration, and client adoption. The Credit Product Manager performs the role of product advocate of cross-functional teams, presenting new product proposals and/or enhancements that support achievement of revenue and profit objectives as well as contribute to the bank’s growth strategy, ensures loan products are competitive, compliant, and profitable.
In this role you’ll have the opportunity to:
- Responsible for creating strategic direction for loan products and client experience, ensuring they remain competitive, marketable, compliant, and profitable by utilizing customer feedback, industry surveys, associate input and analysis of competitor products and services. Champions product line by clearly articulating product positioning, key benefits, and value proposition.
- Creates and maintains product roadmap, leading the design, development, and launch of new loan products and enhancements, ensuring alignment with market trends and client needs, and provides recommendations regarding product campaigns to drive product penetration.
- Responsible for product line compliance, ensure loan products comply with relevant regulations and internal policies, regularly reviewing and updating offerings to meet changing requirements.
- Responsible for evaluating and enhancing complex loan products and services, identify opportunities for revenue enhancements, tracking profitability and managing changes to loan products. This includes evaluating the impact of regulatory changes, risk assessments, incorporating Bank initiatives, and customer needs analysis on new and/or enhanced products and services.
- Responsible for assessing and reporting on the effectiveness, revenue generation, market penetration and profitability of new and existing products and services. Measures and tracks the financial performance volume against established goals and presents results to executive leadership and Bank committees.
- Leads cross-functional teams in developing and launching loan products, collaborating with marketing, communications, and other stakeholders to execute effective product launches and campaigns. Ensures product is delivered through all channels effectively.
- Negotiate and manage vendor contracts for loan-related products and services, conducting risk reviews and analysis of effectiveness of vendors, and alternative options of competing vendors, products, and services.
- Maintain a comprehensive understanding of the bank’s policies and procedures related to loan products, including key regulations such as the Bank Secrecy Act, UDAAP, Regulation Z and Fair Lending Laws and Regulations.
Education & Certifications
- Bachelor’s Degree: Business, Marketing, Finance, or a related field required (an equivalent combination of education and experience may be considered)
Experience
- 8 or more years of combined experience in product management, banking and compliance, specifically within credit or loan products required
Knowledge, Skills and Abilities
- Extensive ability to lead and drive projects to completion with minimal guidance, demonstrating strong project management and leadership skills.
- Extensive knowledge of consumer and small business loan products, services, and the regulatory environment affecting them.
- Exceptional written and verbal communication skills, with the ability to present to both small and large audiences, including executive management and Bank committees.
- Demonstrated ability to lead other team members and business partners with complex product design.
- Strong collaboration skills, with the ability to work effectively across various teams and with external vendors to ensure a positive customer experience and resolve issues promptly.
- Extensive marketing and product development concepts and practices, product lines and potential applications, and customer requirements.
Compensation & Benefits
- Targeted starting hourly range (based on experience): $117,249 - $154,493
- Incentive potential
- Comprehensive employee benefits, including: medical, dental, vision, LTD, STD and life
- Paid vacation time, sick time and 11 company paid holidays
- 401k (with up to 4% match)
- Tuition reimbursement
- Get more information at: Employee Benefits | Banner Bank
Travel
- 20%
