Senior Product Manager - Business Lending

TITLE: SR PRODUCT MANAGER - BUSINESS LENDING
STATUS: EXEMPT
REPORTS TO: DIRECTOR - PRODUCTS - BUSINESS LENDING
DEPARTMENT: PRODUCT MANAGEMENT
JOB CODE: 11621

PAY RANGE: $119,300.00 - $145,000.00 ANNUALLY

GENERAL DESCRIPTION:

The Senior Product Manager for Business Lending Products is a strategic leader within the credit union, dedicated to enhancing and managing a comprehensive portfolio of business lending products. This role is designed to drive innovation and develop business lending products that set Golden 1 apart as a leader in the market. By leveraging both digital technologies and personalized human interactions, this position aims to deliver superior value and exceptional experiences to our business members. Additionally, this role is crucial in driving business loan and credit card growth, optimizing member value, and expanding the credit union’s market share through well-crafted strategies and execution.

This role will also conduct product management tasks including documenting business requirements, program research and development, including risk assessments and overseeing implementations, managing related software integrations and associated projects.

PURPOSE STATEMENT

To strategically plan, execute, and oversee initiatives that drive financial empowerment, enhance member experience, and promote community well-being, fostering a strong and sustainable financial future for our members.

To drive strategic initiatives, foster financial well-being, and enhance member experiences by effectively managing programs that align with the credit union's mission of providing exceptional financial services and promoting community prosperity.

TASKS, DUTIES, FUNCTIONS:

1. Product Strategy and Roadmap: Support the development and refine product strategies and associated roadmap to meet the needs of our members and the financial objectives of the credit union.  Incorporate market research, member/consumer insights and industry trends to identify new opportunities for growth and differentiation. 
2. Product Development and Management: Lead end-to-end product development lifecycle of products within business services across the business lending product portfolio. Support concept ideation to launch and post-launch performance optimization. Collaborate closely with internal stakeholders, including engineering, design, finance, risk management, marketing, and operations, to ensure successful product delivery and ongoing feature/functionality enhancements.
3. Customer Insights and Market Analysis: Conduct market research and analysis to evaluate member and consumer needs, competitive landscape, macro-economic environment, and emerging trends in financial services. Translate these insights into actionable product requirements, feature/functionality enhancements, pricing changes or decisioning strategy optimization.
4. Cross-Functional Collaboration: Work closely with cross-functional teams to gather requirements, define product specifications, and prioritize feature/functionality development. Foster strong relationships with internal stakeholders and external partners to ensure successful execution of product initiatives.
5. Product Performance Monitoring: Support the establishment of key performance indicators (KPIs) and metrics to evaluate the performance and success of products managed. Continuously monitor and analyze product performance, customer feedback, and market trends to identify areas for improvement and drive product enhancements.
6. Regulatory Compliance: Stay abreast of relevant industry regulations and compliance requirements related to retail financial services products. Ensure that products are designed and developed in accordance with applicable laws and regulations.
7. Develop and maintain an understanding of the pertinent regulatory requirements and risks inherent to job responsibilities, establish, and maintain control activities that mitigate those risks consistent with the Credit Union’s risk appetite, and ensure operational integrity and compliance with applicable regulations.

PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS:

Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine and telephone.

ORGANIZATIONAL CONTACTS & RELATIONSHIPS:

INTERNAL: All levels of management and staff.

EXTERNAL: C.C.U.L., community organizations, vendors, suppliers, and peers in financial institutions.

QUALIFICATIONS:

EDUCATION: Bachelor's degree in related field plus equivalent work experience; advanced degree preferred.

EXPERIENCE: Five years or more of product management experience (at least 3 years in a senior or lead role) with a focus on Business lending product and systems management within fintech/financial services organizations.

KNOWLEDGE/SKILLS:

• Comprehensive knowledge of business card, C&I lending and CRE lending product principles, within the small business space and regulations, and industry best practices.
• Knowledge of small business loan underwriting, credit analysis and reporting.
• Proven experience in product management, preferably in the fintech/financial services industry.
• Strong organizational skills, including the ability to prioritize tasks, manage timelines, and deliver results in a fast-paced environment.
• Effective communication and presentation skills with the ability to collaborate and influence cross-functional leaders, internal teams, and vendors.
• Proficiency in data analysis tools and techniques.
• Familiarity with Agile methodologies and product development frameworks.
• Strong understanding of the small and medium business financial services market and products including digital transformations, use of analytics, cross-functional execution, and regulatory requirements.
• Advanced knowledge or Microsoft Office products including Word, Excel, PowerPoint; Visio; and Nitro Pro.
• Proven ability to meet deadlines, deliver high quality results, and demonstrate accountability and ownership of work and actions.
• Ability to successfully engage in multiple initiatives simultaneously with the ability to adapt to change and prioritize and manage competing demands.
• Robust analytical, strategic, and problem-solving skills to critically evaluate requests to determine true needs and distinguish between solution ideas and requirements.
• Strong interpersonal skills required, including maintaining positive relationships with system stakeholders, providers, and key internal business partners.

PHYSICAL REQUIREMENTS:

1. Prolonged sitting throughout the workday with occasional mobility required.
2. Corrected vision within the normal range.
3. Hearing within normal range.  A device to enhance hearing will be provided if needed.
4. Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
5. Occasional travel by car or public conveyance to out-of-area locations or across the United States to attend business related conferences and seminars.

LICENSES/CERTIFICATIONS:

Possession of a valid California driver's license is desirable but not essential.

THIS JOB DESCRIPTION IN NO WAY STATES OR IMPLIES THAT THESE ARE THE ONLY DUTIES TO BE PERFORMED BY THIS EMPLOYEE.   HE OR SHE WILL BE REQUIRED TO FOLLOW OTHER INSTRUCTIONS AND TO PERFORM OTHER DUTIES REQUESTED BY HIS OR HER SUPERVISOR THAT ARE WITHIN HIS / HER KNOWLEDGE, SKILL AND ABILITY AS WELL AS HIS / HER MENTAL AND PHYSICAL ABILITIES.

REV. 05/14/2024