Home Equity Portfolio Product Manager

Description

This role owns the end-to-end management of assigned products, services and programs, including the features, benefits and characteristics that meet customer needs and are priced to meet the bank's profit and loss goals.

You manage one product or function that supports a business strategy and act as a source of innovation driven by customer insight, with the aim of improving the customer experience.

You are accountable for business results and product sales, and you work with acquisition teams to meet widget and volume targets.

The role supports the home equity line of credit (HELOC) and home equity loan (HELOAN) portfolio, working alongside the Home Equity Product Group Lead for origination products and programs and the Senior Product Manager for RESL Demand Generation.

Focus areas include mortgage and home equity retention, HELOC utilization, portfolio growth, draw and repayment period concentration, evergreen accounts, the HELOC Fixed Rate Option, and the process and vehicles for HELOC line access. You also partner with Fraud and Servicing on home equity product issues and initiatives.

This is a highly seasoned role that calls for deep expertise in a complex field and knowledge of related areas. You are accountable for one major functional area with a mass or niche product suite of moderate complexity, and you advise on functions you do not directly manage.

The company is one of the world's leading global financial institutions and the fifth largest bank in North America by branches and stores. It serves more than 27 million households and businesses in Canada, the United States and around the world, with over 95,000 colleagues.

Responsibilities

• Own end-to-end product management for your assigned products, services and programs.
• Set product features, pricing and margin with the aim of delivering financial results across the product suite, using all available levers.
• Build business cases for strategic results in acquisition, retention, customer experience, engagement and market share.
• Lead or join business plans with the acquisition and segments teams to grow new accounts and track the P&L impact.
• Identify and implement product features and enhancements, and support new initiatives with business case work.
• Design the end-to-end process for developing, implementing, using, reporting on and gathering feedback about products and segments.
• Direct and coordinate market research to uncover underlying customer needs as input to development.
• Run ideation sessions and identify growth opportunities through customer research, focus groups and external research with marketing, phone channel and retail partners.
• Monitor industry, competitive and emerging market trends, and keep the acquisition teams informed so the bank can compete and win.
• Analyze the P&L, competitor activity, and marketing and risk tactics to refine product strategy.
• Lead and facilitate problem-solving sessions with partners and vendors.
• Work with IT, operations, legal, compliance and marketing to make sure products meet company objectives and standards.
• Build and maintain relationships with sales distribution, internal stakeholders, external partners and distribution channel owners so customer needs shape decisions.
• Advise on distribution issues, mainly third-party channels, for niche or customized products.
• Identify and manage market, credit and operational risks linked to the product or segment.
• Ensure product policies and processes are in place and align with the risk appetite.
• Oversee product deliverables within budget and against the approved product plan.
• Champion the annual business plan and the monthly and quarterly forecasting process.
• Support senior management as the subject matter expert through reviews, planning, forecasting and strategy sessions.
• Serve as the subject matter expert for product questions, and support partner-led projects as needed.
• Mentor colleagues, share knowledge and best practices, and take part in cross training within your team.
• Keep others informed about project status and relevant information, and act as a brand ambassador for your area and the bank.

Requirements

• An undergraduate degree or a product management certificate, and/or 7+ years of relevant experience.
• Previous product experience, which is typically required.
• Advanced ability to research, analyze and develop products, forecast, set pricing and gather competitive intelligence.
• Knowledge of current and emerging competitor and market trends.
• Ability to lead, plan, implement and evaluate programs and projects through to completion.
• Ability to forecast, contribute to the strategic direction of product management and advise senior leaders.
• Clear communication, both spoken and written.
• Ability to build relationships across teams and functions, and to work both in a team and independently.
• Sound judgement in decisions, and the ability to prioritize work across multiple deadlines.
• Skill in preparing and managing budgets and P&L.
• Knowledge of or skill with analytical software, data analysis methods and reporting techniques, plus MS Office.
• Ability to handle confidential information with discretion.

Conditions

Based in Charlotte, North Carolina, United States of America.

Must be located within the company's footprint: CT, DE, FL, ME, MD, MA, NH, NJ, NY, PA, RI, SC, VT, VA or DC.

Full-time schedule of 40 hours.

Salary range is $91,000 - $136,240 USD.

Base pay depends on skills, experience, job knowledge, location and business needs, and pay rises through the range over time as you progress in the role.

You are welcome to ask compensation questions and talk openly with your recruiter about the details of this role.

Domestic travel is occasional, and international travel is never required.

Physical demands: sedentary work, multitasking, operating standard office equipment, sitting, concentrating for long periods, applying common sense to standardized problems, reading and writing instructions, and basic arithmetic are continuous. Standing, walking, moving safely in confined spaces, lifting under 25 lbs, squatting, bending, reaching forward and responding quickly to sounds are occasional. Kneeling, crawling, climbing, overhead reaching, pushing, pulling, twisting and lifting over 25 lbs are never required.

Frequency scale: Never is 0%, Occasional is 1-33%, Frequent is 34-66%, and Continuous is 67-100%.

The duties listed describe the general nature of the work and are not an exhaustive list. The listed duties are essential functions for ADA purposes.

Line of business: Product Management.

The company fosters a respectful workplace where diverse perspectives are valued and everyone has fair chances to grow.

Benefits

• Total rewards that include base salary and variable compensation or incentive awards, which may include cash and/or equity, generally through an incentive plan.
• Health and well-being benefits, savings and retirement programs, and banking benefits and discounts.
• Paid time off, including Vacation PTO, Flex PTO and Holiday PTO.
• Career development, reward and recognition, and regular career, development and performance conversations with your manager.
• Access to an online learning platform and a range of mentoring programs.
• Training and onboarding sessions to prepare you for the role.