Product Management - Director - Business Lending Products

TITLE: DIRECTOR - BUSINESS LENDING PRODUCTS
STATUS: EXEMPT
REPORTS TO: VP PRODUCT - BUSINESS SERVICES
DEPARTMENT: PRODUCT MANAGEMENT
JOB CODE: 11508

PAY SCALE: $147,200.00 - $176,700.00 ANNUALLY

The Director of Business Lending Products participates in the development of the overall product strategy and leads aspects of the Product Management process for individual products across Golden 1's Business Lending and Card Product programs to meet member financial needs, enable sustainable growth and optimize economic returns. 

PURPOSE STATEMENT:

To efficiently and effectively deliver financial products and services that meet members' needs and improve financial health.  Ensure the financial safety and soundness of Golden1 through managing and enhancing product features and functionality, enabling sustainable growth and managing economic returns.

TASKS, DUTIES, FUNCTIONS:

1. Product Strategy and Roadmap: Collaborate with Product Management leadership to develop 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: Participate in the end-to-end product development lifecycle, from 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. Consumer 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: Partner 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: Partner across the organization to establish key performance indicators (KPIs) and metrics to evaluate the performance and success of products managed. Continuously monitor and analyze product performance, consumer 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. Risk Assessment and Compliance: Work closely with risk management and compliance teams to assess and mitigate risks associated with financial products. Ensure compliance with industry regulations, legal requirements, and internal policies. Develop and maintain product documentation, including terms and conditions, disclosures, and user guides. Plan, organize, direct, and manage budgetary activity for direct reporting departments. Coordinate and manage any business cases developed to support product investment.
8. Innovation and Future Planning: Stay up to date with industry trends, emerging technologies, and regulatory changes that impact financial products. Identify opportunities for product innovation and propose new product initiatives to drive growth. Collaborate with product development teams to conceptualize and prototype new product ideas to present to senior leaders.
9. Plan, organize, direct, and manage budgetary activity for direct reporting departments. Coordinate and manage any business cases developed to support product investment.
10. Represent credit union in contacts with business and trade associations, members, and regulatory agencies. Attend civil functions and industry conferences, and otherwise promote the credit union's image.
11. Travel as required.

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:

1. INTERNAL:  Management Group and Staff
2. EXTERNAL:  C.C.U.L., community organizations, vendors, suppliers, and peers in financial institutions.

QUALIFICATIONS:

1. EDUCATION:  Bachelor's degree in related field plus equivalent work experience; advanced degree preferred.
2. EXPERIENCE:  Seven years or more of Business Product Management experience, with a focus on Business Lending, SBA Lending and Business Card Product Management within financial services organizations.
3. KNOWLEDGE/SKILLS:

• Demonstrated excellence as a strategic thinker who can put plans into action to achieve mutually agreed upon goals in a fast-paced professional environment.
• Strong understanding of the retail financial services market and products including digital transformations, use of analytics, cross-functional execution, and regulatory requirements.
• Excellent communication, collaboration, and leadership skills, with the ability to influence and inspire cross-functional leaders and teams, vendors, and other credit unions.
• Strong project management 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 and teams, and vendors.
• Ability to collaborate and influence cross-functional teams.
• Proficiency in data analysis tools and techniques.
• Familiarity with Agile methodologies and product development frameworks.
• Effectively manage credit union resources and foster bottom line accountability.        

PHYSICAL REQUIREMENTS:

1. 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. Extensive travel by car or public conveyance for out-of-area locations or across the United States.

LICENSES/CERTIFICATIONS:

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

REV. 12.28.2023