Product Manager

33 Dundas Street West Toronto Ontario,M5G 3C2

The Home Financing Product team (HF) rallies towards a common goal - a connected experience for customers as they navigate their biggest financial commitment, their home. The Product Manager will manage the relationship with broker channel external partners, working with cross-functional teams to resolve issues and execute on the broker channel strategy.

Working daily with external business partners, Analytics, Sales & Marketing, Distribution channels, Treasury, Product Ops, Digitization, Pricing, Policy, Compliance, Risk and Finance, HF brings together cross functional experts to deliver above market growth in a highly competitive industry.

This position offers unparalleled opportunities to learn from experienced Financial Services leaders growing the good by powering our frontline and helping our customers achieve real financial progress.

The Product Manager, Home Financing & Equity Products will primarily be responsible for supporting the acquisition strategy and Profit & Loss (P&L) for mortgages and home equity products in the mortgage broker channel, ensuring business plan expectations are achieved with additional focus on external partner relationship management, product design, strategy, customer experience, efficiency, compliance, innovation, continuous improvement and risk management.

Supports the execution of strategic initiatives for the broker channel to deliver on business and financial goals in collaboration with internal and external stakeholders

Supports managing the relationship with external partners associated with the broker channel

Contributes to product policy strategies that support stable and predictable performance and provide strategic differentiation and competitive advantage relative to industry peers.

Supporting managing and improving internal and external communication on product, policy, campaigns and other updates in the broker channel

Ensures an optimal channel strategy, initiates developments to our channel strategy, and actively manages the channels as required.

Contributes to product pricing strategies that support stable and predictable performance and provide strategic differentiation and competitive advantage relative to industry peers.

Optimizes fee pricing across the product suite to facilitate profitable, quality growth and a stable, predictable stream of non-interest revenue.

Optimizes the financial performance of the product portfolio through the management of customer experience, balance, mix, spread and non-interest revenue; increasing market share, share of wallet, and customer retention; and, product and customer profitability.

Product Management and Development
- Brings product expertise and intimately understand all aspects of product performance and drivers (market, financial, business) to inform product features and benefits and provide advice and recommendations to the Director.
- Deliver product solutions and enhancements in alignment with the approved Personal Banking Canada strategy that effectively meets the needs of our sales force (e.g., contribute to ease of product sales, fulfillment and servicing), maximizing both product penetration and speed to market.
- Optimize features and functionality through rationalization and simplification to profitably differentiate products in the marketplace based on a thorough understanding of competitor/ substitute products and product performance and deep customer knowledge/insights.
- Develop strategic and tactical plans to manage existing products, seeking to maximize value creation across the product portfolio and streamline the product offering, as appropriate, balancing simplification of the product offering with customer need fulfillment.
- Develop, implement and manage legacy product strategies (if applicable) including migration policy and strategies over time, balancing customer satisfaction with the costs and complexity of maintaining declining portfolios of retired products / pricing packages.
- Participate in the development of end to end Distribution strategy for Home Financing Products so as to optimize profitability and penetration in the broker channel
- Monitor operations to ensure product systems and processes are maintained and continuously improved. As appropriate, enhance the product delivery system infrastructure, including improvement of existing product systems, processes and documentation in support of product introductions, changes/ enhancements and operations, in order to meet customer needs and facilitate ease of sales, fulfillment and servicing.
- Regularly monitor customer and competitive environments to ensure product offers remain relevant to customer needs and achieve the desired competitive positioning.
- Provide input to the pricing structure for the product, particularly regarding feature/ price tradeoffs, based on a throughout understanding of competitor/ substitute products, product performance and deep customer knowl