Product Manager - Consumer Deposits

About the position

This Product Manager role is responsible for the development, design, pricing and management of our consumer deposit product set. This includes reporting and insights related to activity, pricing, profitability, customer growth and product mix within their portfolio of focus. Additionally, the Product Manager will provide continued evaluation and recommendation of new product features/functionality and process enhancements to help us meet customer needs, enterprise goals and remain competitive. The Product Manager partners with key stakeholders including line of business leadership, Finance, Marketing, Risk, Operations, Technology and others on the concept, build and delivery of new products, as well as changes to existing products – all in support of a positive customer experience, sound product governance and successful outcomes. This includes engaging with our governance bodies, such as New Product Approval and ALCO, and adhering to all processes and procedures related to change management.

Responsibilities

• Maintain and support execution of a roadmap for the product portfolio that aligns with enterprise objectives.
• Oversee the development and enhancement of consumer deposit products, working closely with Operations, Technology, Line of Business and Compliance.
• Conduct market research and gather customer feedback to understand client needs and pain points.
• Develop KPIs and perform user research to inform decisions about product development, marketing, and positioning.
• Manage the budget for product development and assist with forecasting and analyzing the financial performance of the product portfolio.
• Ensure that product design complies with relevant laws and regulations.
• Adhere to change management processes, including following all required steps and obtaining all necessary approvals.
• Collaborate with various departments such as marketing, compliance, risk management, operations, and business leaders to ensure alignment with product strategy.
• Provide support to Marketing, Sales and Communications for effective outreach, promotion and change communications for product launches or changes.
• Ensure that the product offers a high-quality customer experience, keeping abreast of customer service touch points and addressing feedback.
• Manage the entire lifecycle of each product, from inception to retirement, making decisions about updates, enhancements, or discontinuations.
• Manage vendor relationships for payments and promotions capabilities, including governance, roadmap alignment, contract/SLA oversight, and issue escalation.
• Serve as a product subject matter expert for our consumer deposit product set.
• Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders.
• Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.

Requirements

• Bachelor’s Degree in Business Administration, Finance, Marketing or related field
• 5+ years Product Management, Marketing, Project Management and/or Financial roles.
• Demonstrable understanding of product, pricing, placement, and promotion.
• Demonstrated understanding of consumer deposit products and services, including digital banking features and technologies.
• Analytical ability to interpret data and present it in a meaningful and easily understood form.
• Work extensively with spreadsheets to analyze financial data, predict future costs, revenue and profitability with support from internal finance team.
• Excellent written and verbal communication skills. Able to tailor communication to unique audiences at all levels of the organization, as well as with external vendors.
• Excellent project management and collaboration skills. Ability to support projects from end-to-end and understand how to support and lead solution discovery, business requirement construction, technology specifications support, project launch, internal approval management, testing, communication, delivery, and post-project review.
• Excellent organizational skills with ability to manage multiple priorities and meet established deadlines.
• Fluent in standard Microsoft Office tools, in particular Excel.
• Risk-minded, possessing a firm understanding of risk, compliance, and audit functions to support the identification, assessment, mitigation, and control management of identified risks.
• Team player with a desire to advance the organization’s vision for meeting cultural and community objectives.

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, Legal Insurance & 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