Product Manager, Everyday Banking

4 months ago

Toronto, Canada Alterna Savings Full time

**Scope of Position**

Under the direction of the Director, Product and Partnerships, the Product Manager, Everyday Banking & Deposits is responsible for the product lifecycle for deposit products and services and the execution of business strategies that contribute to portfolio growth, profitability and customer and employee engagement objectives across branch, digital bank, online, mobile and contact center channels.

The product and services portfolio the Product Manager is responsible for includes savings, chequing and term deposit accounts, registered plans, banking packages, product bundles, and service fees,

As the champion for Everyday banking and deposit products, the Product Manager collaborates with business partners and stakeholders to analyze needs and opportunities and develop product solutions. This role manages the concept initiation and business case phases and acts as a product expert in the implementation of new initiatives.

Also, the Product Manager monitors the competitive environment and market trends, assesses customer needs and evaluates the performance of the portfolio including forecasting volumes and expenses. The Product Manager works with the Director to develop and implement the annual operating plan and will identify and implement actions to close gaps and meet/ exceed targets.

**Major Responsibilities**

Identify product development opportunities and concepts:

- Analyze industry trends, competitive reviews and customer needs. Develop an understanding of key consumer and market segments.
- Identify product enhancements and new initiatives that support the corporate strategy and document these through assessments. business cases and proposals.
- Assist the Director, Product and Partnerships in the development and maintenance of product roadmap.

Develop and deliver new products and solutions:

- Create and maintain a tactical plan that supports the product development roadmap.
- Assess new product opportunities with internal stakeholders (Member Experience, Marketing, Sales, Treasury, Digital & Technology etc.)
- Analyze, recommend and manage partnership opportunities necessary to effectively support deposit products. Assist the Director Product and Partnerships in the partner/provider selection process

Development and execution of marketing and sales campaigns:

- Support the planning, development and execution of sales campaigns.
- Working with Marketing and business partners, develop strategies, plans and tactics to promote deposit product growth across all channels (Retail branch, Digital Bank, Online, Contact Centre).

Business Planning and Measurement:

- Evaluate the performance of the product portfolio including forecasting business volume, revenue and expenses.
- Work with the Director to develop and implement the annual operating plan.
- Assist in developing Key Performance Indicators (KPIs), business reports and product sales/profitability reports for both senior management and branch audiences.
- Identify gaps and recommend actions to close gaps using product mix and business development tactics.

Product knowledge and operational effectiveness:

- Lead development of customer facing communications, tools and resources: brochures, collateral, tools/calculators, web content etc.
- Support the development of product knowledge/training strategies and support tools/resources for Retail and Back Office.
- Maintain effective product vendor relationships for outsourced products and services.
- Product forms and agreements. Lead and manage content for customer facing forms and agreements. Obtain input and sign-off from cross-functional areas / stakeholder / content experts (legal and compliance) as required.
- Act as a key support for the implementation of new products, product enhancements and initiatives. (eg. provide support in the sales, marketing and delivery areas.)
- Participate, as content expert, in the development of any customer experience design work, training material and communication material by providing guidance and expertise to other employees.

**Qualifications**

**Educations / Certifications / Experience**
- Post-secondary education: University/College degree in Business, Commerce or related discipline or equivalent combination of education and experience.
- Investment knowledge and designation such as CSC or IFIC an asset

**Knowledge / Skills**
- Strong knowledge of retail deposit products.
- At least 3 years of experience in managing financial products and services through their life cycle, preferably in a financial services related industry.
- 3+ years of experience as a sales advisor in retail financial services would be an important asset.
- Demonstrated experience in competitive market analysis with a solid understanding of the financial services industry
- Excellent communication (oral and written) skills; strong presentation.
- Skilled in leading and motivating cross-function teams to achieve results
- Maintain a high level of understandin

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