Focus on strategic development and tactical implementation of the Consumer Lending products. The product manager maintains product ownership for the full life cycle of existing and new product lines from inception to product retirement. Serve as the internal and external evangelist for your product offering, working with the sales channel and key member focus groups. Analyze and understand the competitive landscape, work closely with other Product Managers, Operations, Marketing and Finance to meet establish product goals.
The Product Manager, will guide the creation and change of a product lines extending from increasing the profitability of existing products to developing new products for Bethpage. Build products from existing ideas, and help to develop new ideas based on your industry experience and contact with members and prospects. Manage product communication with all areas of the company.
Key Standard Responsibilities
- Specifying market and business requirements for current and future products by conducting market research.
- Analyze and report on actual product results versus planned and develop corrective actions if needed.
· Work with a BTS/IT counterpart to define product release requirements. Coordinate with marketing communications to define the go-to-market strategy, assisting with the product positioning, key benefits, and target member.
- Developing and implementing a company-wide go-to-market plan, working with all departments to execute.
- Manage in-life product performance: sales, margin, and churn, conducting extensive numerical analysis using company data. Monitor and analyze product performance and push details out to stakeholders.
- Identify and present innovative and creative product solutions.
- Project management of all product integration/launches/changes throughout implementation.
- Identify the business and operational requirements based upon the business requirements & objectives of each product.
- Coordinate and build strong working relations with various internal organizations including; IT, Service, Sales, Marketing, Learning and Development, & Operations and S3
- Communication of new products/product changes and their associated member, procedural, operational, system, & process impacts to the various internal organizations.
- Partner with L&D to develop & conduct specialized training on new products launched and raise awareness & application of relevant subject matter.
- Monitor internal processes for efficiency and validity pre & post product launch/changes.
- Provide support for other departmental projects as needed.
- Meet/exceed and maintain service levels according to Bethpage goals.
- Oversee contract negotiations/ management, vendor management and RFPs
Key Product Specific Responsibilities
- The Product Manager must have knowledge of the following consumer lending products: Home Equity Line of Credit (HELOC), Home Equity Loans, Credit Card, Auto (Direct + Indirect)
- Additional products may include Student Loans.
- Prior work experience on all or at most of these products is required. Specifically, the Product Manager should understand the key profitability drivers and the sales and loan origination operational components of the products.
I. Education and Experience Requirements
- Bachelor’s degree in finance, business, marketing, or similar
- Five to ten years marketing/product development experience preferred
- Two to five years of spreadsheet-based numerical analysis
- Experience in product development, strategic planning, and tactical implementation preferred
II. Knowledge and Skills Requirements:
- Excellent communication skills (verbal and written)
- Systematic and analytical thinking
- Exceptional service skills (both internal and external)
- Advanced spreadsheet and numerical analysis skills: business cases, margin and cash flow analysis
- Ability to exercise tact and good interpersonal skills
- Project management skills
- Strong collaboration skills and practices (internal and external)
- Time management and multi-tasking skills
- Problem solving skills
- Ability to be pro-active with a sense of urgency
- Be a self-starter, a highly motivated person able to work in a fast paced environment that is continually changing
- Display a high level of critical thinking in cross-functional process analysis and problem resolution for new and existing products.