Specialist III – Banking Product Management

Role Overview

• Researches, defines, aligns, develops, and implements sales and marketing strategies with P&L accountability to enable the sales force to effectively sell, fulfill, and service new and existing individual or portfolio of banking products and improve the customer experience.
• Carries out market research, forecasting, pricing, and competitive analysis, monitors product and system performance, and assesses problems to develop and implement solutions.
• Manages product risks in compliance with legal, regulatory, and risk compliance, and reporting.
• Collaborates with internal partners across the enterprise to take products to market.
• Recommends and implements solutions based on analysis of issues and implications for the business.
• Assists in the development of strategic plans.
• Identifies emerging issues and trends to inform decision-making.
• Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
• Conducts independent analysis and assessment to resolve strategic issues.
• Develops business cases by identifying needs, analyzing potential options, and assessing expected returns on investment.
• Provides recommendations on product lifecycle.
• Builds effective relationships with internal/external stakeholders.
• Ensures alignment between stakeholders.
• Designs and produces regular and ad-hoc reports, and dashboards.
• Breaks down strategic problems, and analyzes data and information to provide insights and recommendations.
• Monitors and tracks performance, and addresses any issues.
• Supports change management of varying scope and type; tasks typically focused on execution and sustainment activities.
• Provides input into the planning and implementation of operational programs.
• Executes work to deliver timely, accurate, and efficient service.
• Monitors key product performance and growth metrics to identify trends and recommend action plans.
• Leads/oversees the management of vendor relationships and external partnerships and provides guidelines for execution; ensures that all agreements are met as per requirements.
• Resolves internal, complex or higher risk customer escalations or policy exceptions, which may include interactions with clients and sales.
• Reviews analysis of issues and identifies gaps and solutions.
• Provides competitive analysis and benchmarking to identify product strengths and gaps, and extract insights.
• Analyzes customer/consumer insights and channel data to identify strengths and gaps, and extract insights.
• Completes internal and regulatory reporting, and attestations.
• Identifies existing and potential risks and develops risk management controls and processes.
• Develops and maintains product directives and policies.
• Supports development of key metrics and identification of trends.
• Gathers customer and sales feedback and analyzes issues.
• Participates in and evaluates market research and competitive analysis associated with assigned products.
• Participates in and evaluates customer / consumer insights and channel information.
• Acts as the day to day contact for vendors; supports the implementation, maintenance, and sustainment of vendor solutions.
• Resolves internal, first level customer escalations.
• Leads/participates in the design, implementation, and management of core business / group processes.
• Gathers basic market research and competitive intelligence, including pricing, from publicly available information.
• Runs analyses and reports that support risk management and policy development.
• Defines and implements business cases and strategic roadmaps for banking products and services, including project and budget approvals.
• Designs, implements, manages, and enhances a single product or suite of products throughout the product lifecycle.
• Develops, implements, and monitors key metrics and action plans to optimize financial performance.
• Continuously improves processes to identify issues and deliver optimal customer experience.
• Works with partners to develop salesforce training and materials and manages change.
• May support the sales team in development of client deals and related presentations.
• Develops and maintains relationships with external partners and vendors.
• Creates the marketing strategy, including offers and campaigns, and works with Marketing and other partners to execute.
• Develops, implements, and manages product documentation, templates, and requirements to ensure they accurately reflect product and systems functionality.
• Influences and/or determines credit product risk parameters and metrics.
• Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.
• Provides specialized consulting, analytical and technical support.
• Exercises judgment to identify, diagnose, and solve problems within given rules.
• Works independently and regularly handles non-routine situations.
• Broader work or accountabilities may be assigned as needed.

Requirements

• Typically between 5
• 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Strong experience with consumer / commercial credit applicable to retail and business financing products.
• Strong experience working with retail and business product fundamentals, including product design, functionality, and related policies and procedures.
• Strong knowledge of product delivery infrastructure systems and underlying product interdependencies.
• In-depth retail and business banking environmental awareness / understanding.
• In-depth risk management associated with new and existing product development and management.
• Strong knowledge of process coordination and management.
• Strong knowledge of banking product management and associated industry and regulatory requirements.
• Building business cases
• in-depth
• Researching market trends – in-depth
• Relationship management – in-depth
• Analytics and reporting – in-depth
• Product marketing – in-depth
• Negotiation skills – good
• Software and systems architecture knowledge – good/in-depth
• Financial Understanding – good/in-depth
• Deep knowledge and technical proficiency gained through extensive education and business experience.
• Verbal & written communication skills
• In-depth.
• Collaboration & team skills
• In-depth.
• Analytical and problem solving skills
• In-depth.
• Influence skills
• In-depth.
• Data driven decision making
• In-depth.

Benefits

• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans