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Product Manager
Associated Bank
Milwaukee, WI, United States
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JOB SUMMARY
Under the direction of management, the incumbent is responsible for overall payments product management and product performance analysis/score carding of either Consumer Add-On Products and Services or Payments Solutions.
Major areas of responsibility are (1) Core Product Management (creating and managing the product set), including Product Development, Product Enhancement and Maintenance, and Product Planning/Portfolio Management, and (2) Applied Product Management (the collaboration with other stakeholders to bring the products to market), including Pricing, Marketing/Promotions, Informing and Supporting Product Distribution, and Informing Forecasting and Reporting. Position does not have direct P&L responsibility for the Product category/lines, but shadow accountability for product growth and profitability. The position is expected to work closely with business partners in Marketing Advisory, Compliance, Operations, Customer Care and Customer Experience. Constant communication about the environment including competition, compliance concerns, and strategic direction with Branch Banking and Community Market teams is required. The function plays a key role in managing the IT systems development and will work closely with Finance in measuring and tracking the financial performance.
Operates in full compliance with internal policies and procedures as well as applicable regulations and laws, including but not limited to Bank Secrecy Act/Anti-Money Laundering requirements. Responsible to report any procedure or process that doesn’t meet regulatory requirements including fraud, whether suspected or confirmed, to management. This reporting can be done directly to any member of management, including Human Resources or Corporate Security, or can be reported through Associated’s anonymous Ethics Hotline.
KEY RESULT AREAS
Analysis
Strategic Thinking
Regulation and Compliance
Quality Assurance
Customer Origination
Other Technical Implementation
Other Product Profitability
Other Product Success in the targeted Markets
Other Innovation
Other Technical and Compliance Knowledge
Other Pricing and Promotions
Other Product Development and competitiveness of Product Set
JOB ACCOUNTABILITIES
• Develop promotional concepts with Marketing Advisory or with external vendors if applicable (including acquisition, retention, share of wallet, utilization and activation programs), drawing on research and analysis provided by RATR team.
• Collaborate with Lines of Business on product sales and support channel strategies. Communicate product information to sales force and product support functions. Review and enhance product related training in support of these strategies.
• Inform, facilitate, and lead where applicable product pricing discussions, leveraging appropriate committees and other decision making formats.
• Develop and bring new products within the category to market (collaborate with Product Development and other organizational resources as needed). As needed, identify potential external providers, conduct due diligence, negotiate agreements, and report on service level agreements.
• Ensure product set meets all compliance requirements. Implement product modifications required by systems and regulatory changes.
• Collaborate with Finance and Vendors where applicable to ensure data for comprehensive product reporting is available. Leverage research (see above) and internal product information (sales, profitability) to provide detailed product performance analysis.
• Identify opportunities to enhance product financial contribution (e.g. fee review, opportunities to reduce product delivery cost).
• Participate in creation of overall product portfolio strategy (synthesized product plans) and translate into underlying individual product plans.
• Coordinate product research (market, customer, vendor, and internal partners) and analysis to identify key trends. Conduct competitive analysis and define competitive parity and competitive advantage. Define the Product Value Proposition and initiate measures to ensure competitive parity of company’s product set.
QUALIFICATIONS:
Required Education: Bachelor's Degree or equivalent combination of education and experience Business or Marketing Degree is a plus
Preferred Education: Master's Degree MBA or Marketing Degree is a plus
Required Experience: 2-4 years Marketing and/or Product Management with meaningful exposure to various consumer and business markets.
Preferred Experience: 2-4 years Customer facing roles within Financial Services.
Preferred Experience: Marketing and Product Management experience primarily in Banking and Investment industries.
Special Skill Requirements:
Analytical
Verbal Communication
Written Communication
Mathematical
Microsoft Office
Operate Office Equipment
Other Duties and Responsibilities
Performs other duties as assigned.
Job Requirements
Adherence to Company policy and procedures is required.
Perform duties in accordance with the Vision & Values of Associated Banc-Corp.
Regular attendance is required.
Basic math and reading skills, and attention to detail.
Use of basic office equipment (e.g., photocopier, voice mail, "fax" machine, calculator, multiple line telephones, typewriter, computers etc.).
Represent the organization in a professional and positive manner.
Maintain credit exception approval percentages within corporate approved guidelines