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Product Manager
Eastern Bank
Lynn, MA, United States
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Description
Responsible for the management, development and creation of multiple Cash Management products for business and Correspondent bank customers. Continuously updates product features and pricing to maintain market and sales requirements and implements new products as needed. Utilizes product knowledge and industry information to assist the Sales and Treasury service staff for ongoing service and support of complex customer issues. Works directly with customers to assist in the development of more efficient processes utilizing Eastern Bank products and services. Contributes to the strategic direction of the Business product line and manages projects to ensure successful implementation.
Principal Duties and Responsibilities:
• Continuously reevaluates and stays abreast of market trends regarding Cash Managements products and pricing; Implements pricing changes and coordinates with Marketing to communicate with customers and update sales materials.
• Makes recommendations for enhancements to existing products and proposals for new products; Prepares detailed product design documents including business case to upper management for approval
• Manages and negotiates pricing and services with vendors. Prepares all CBA’s related to product set owned for senior management approval
• Serves on vendor product committees to provide direction of product offering
• Independently manages projects related to new product implementations; brings new products to market; coordinates all vendor requirements and activities and technology related requirements
• Responsible for final sign off of new product testing before making it generally available
• Monitors and prepares reporting on product P & L and work with Operations, MIS and Sales to increase profitability
• Provides sales support including:
Training on products and pricing
Creating customer training guides
Preparing RFP responses
Implementation of complex customer services
• Reviews risk for the products that are supported to comply with regulatory and bank policy requirements
• Updates and creates customer agreements and disclosures working with Legal to adhere to regulatory changes and new product features
• Administers and architects the Account Analysis billing for all products and services, coordinating activities with Operations, Finance and Technology areas.
• Analyzes pricing compared to competition and make price increase recommendation for upper management
Knowledge: Multiple Cash Management products and processes including operational work flow
Skills and Abilities: Analytical, experienced with MS Word and Excel, attention to detail excellent communication skills both oral and written; Project management skills; Experience preparing cost benefit analysis
Qualifications
Experience: 10-15 years of banking experience in the Financial Industry in Cash Management/Treasury product management. Project and process management experience required.
Education: College degree or equivalent business experience required. CTP or AAP accreditation a plus.