Principal Objective

Reporting to the Director of Marketing, this position is responsible for the overall competitive positioning, pricing, profitability and portfolio management for all BankRI retail, small business, and commercial cash management products and services.  Additionally, this position is responsible for identifying and researching areas for new product development, product enhancements, and delivery methods. 

Principal Duties and Responsibilities

1.      Directs and facilitates product development process for retail, small business and commercial cash management lines to include: deposit, loan and fee based product suites.  Evaluates, recommends and implements new products and product enhancements to ensure the Bank’s retail, small business and commercial cash management product suites are competitive and compelling.

2.      Understands and possesses a strong working knowledge of product profitability methodology and product pricing practices.  Has a working knowledge of Bank operations as it relates to the product development process. Leads the execution/development of new products and product enhancements.

3.      Works with the retail and small business lines to forecast, budget and monitor product acquisition, cross-sell, and retention levels, as well as the flow of balances into, out of and across the bank; and make recommendations on how to maximize product sales to meet/exceed budget.

4.      Conduct customer surveys to determine product effectiveness and brand positioning, in the market place.

5.      Understands electronic delivery channel options including; feature functionality, pricing and adoption rates.

6.      Lead all competitive intelligence gathering, monitor competitor product sets, and assure the ongoing competitiveness of bank’s retail, commercial cash management and small business loan and transaction products, services and channels.

7.      Lead all advertising, promotions and specials for bank products.

8.      Work with Corporate Planning and Business Units to plan and implement product promotions, specials, and sales contests.

9.      Manage marketing efforts related to cross-sell, customer retention, and customer profitability.

10.  Explore areas for new revenue sources (interest and non-interest).

11.  Ensure products (new and existing) comply with legal, regulatory, audit and internal policies and guidelines.

12.  Assist with the development of the annual marketing plan.

Job Specifications (Skills, Knowledge and Abilities Required)

1.      5 years + demonstrated product/portfolio management experience in a banking environment

2.      Strong understanding of competitive environment as well as financial product, technology and market trends.

3.      Proven strong oral and written communications skills.

4.      Proven project management and organizational skills.

5.      High energy, agile thinking, multi-tasker.  Can manage multiple projects simultaneously and can change direction quickly.

6.      Desire and ability to play a key role in building a proactive, best-in-class marketing culture.

7.      Bachelors degree required.