Card & Merchant Services Product Manager

Overview

Works closely with vendors and the line of business units to drive the overall leadership and product strategy for delivering market competitive Card Based Payment & Merchant Services Collection Products to target market clients and prospects.  Besides the commercial line of business, special focus will be on increasing penetration in the retail market.  Job responsibilities include building and managing product roadmaps, ongoing product life cycle management, financial business analysis, risk assessment, and related project management efforts.  Must have a good understanding of the digital trends driving innovation in card products and merchant services.  

KEY RESPONSIBILITIES

Position Specific Responsibilities

1. As the Manager of product management, responsible for product life cycle management including the strategy, design, project development plan, financial pricing/performance, and marketing plan for Card Based Products and Merchant Services.
2. Responsibilities related to product management include:
   • Identify the need for new products and existing product enhancements to support target market growth and organizational goals by monitoring market trends and banking industry; Ensure products and services enhance the user experience
   • Collaborate with applicable Business Partners and Line of Business Stakeholders to determine product priorities, go-to-market strategies, features, pricing and sales effectiveness
   • Elicit, clarify and validate actual (beyond expressed desire) requirements and go-to-market-strategy with all stakeholders including IT, InfoSec, Marketing and Risk Management
   • Understand current product position vs peer banks from a competitive perspective.
   • Monitor life cycle stages and product performance based upon target market strategy and revenue/cost margin; Pursue new products and product enhancements in support of target market growth.
   • Manage vendor performance, including vendor due diligence, escalated issue resolution, participation in user groups and conferences, and new vendor selection, etc.
   • Create and maintain Product Roadmap including validation techniques, goals, dates, metrics/KPI’s, financial business case and key features/results.
   • Coordinate with Project Management (PMO) office for more complex development projects
   • Review & select vendors as appropriate in coordination with CIO office, Operations, PMO and Line of Business partners.
   • Work with Marketing to determine go-to-market strategy (especially digital marketing options) for new products & enhancements;
   • Evaluate and manage lifecycle stages and product performance of product inventory (Card Based Products, Merchant Services, Digital Channels) as they impact profitability goals, pricing and target market strategy.
3. Manage any team members responsible for product lifecycle management and new product development and enhancements.
4. Oversight over vendors that are providing product support and services.
5. Define, create and maintain product penetration and key performance indicator reports.
6. Ensure that all products are in compliance with State and Federal laws.
7. Create and maintain training curriculum to support products and services and facilitate training sessions both internal and externally as warranted.

JOB REQUIREMENTS – EDUCATION, KNOWLEDGE AND SKILLS

• Bachelor's degree in Business or related field (or equivalent experience)
• 7 – 10 years of relevant Card and/or Merchant Services industry experience (
• Strong knowledge of digital trends impacting banking and card-based payment services
• Demonstrated ability to lead, organize and manage multiple projects at once
• Excellent verbal/written communications skills
• Excellent interpersonal skills – ability to present ideas to associates as all levels
• Strong decision making, analytical skills, and attention to detail
• Ability to work in a fast-paced environment with moving deadlines
• Ability to work independently