Product Manager III - Product Innovation
PRODUCT MANAGER III - PRODUCT INNOVATION
WHAT IS THE OPPORTUNITY?
The Product Management function includes the following responsibilities:
• Develops, manages, and owns products and programs that support corporate defined strategies and initiatives and contribute to the bank's competitive edge in the marketplace.
• Creates new products to increase market share.
• Develops and enhances strategic products to meet the bank's profitability goals.
• Provides direction and support relative to product design, enhancement, research, pricing/fees/profitability, implementation, analysis, reporting and performance.
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.
Marketing Product and Digital Division
As a member of our Marketing, Product and Digital team, you will have an exceptional opportunity to help grow your career while driving change across many facets of the business. The team is passionately focused on building our brand, supporting banking products and finding innovative ways to engage and retain clients.
WHAT WILL YOU DO?
- 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 (PRC, ALCO, etc.) 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.
- Represents the Bank by actively participating in outside civic and community affairs, business and industry-related organizations, and other professional activities as appropriate.
- 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.
WHAT DO YOU NEED TO SUCCEED
Must-Have*
- Minimum 5 years of product management experience required.
- Minimum 3 years of banking experience required.
- Minimum 3 years of experience managing medium to large projects required.
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
- 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.
*To be considered for this position you must meet at least these basic qualifications
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.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
ABOUT CITY NATIONAL
We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.
City National Bank requires all colleagues to be fully vaccinated against COVID-19 to work on-site at any of our locations.
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