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Director of Product Management


General Summary

The Director of Product Management is responsible for the management of the Credit Union’s Deposit, Card, Loan (consumer), and Ancillary Products for Members, Businesses and Public Entities. The Director establishes a roadmap and strategy for products and services based on the organization’s business plan and financial targets, as well as the market need and competition.  This includes managing product portfolios, pricing and promotion of products to achieve stated goals. The Director regularly monitors and analyzes economic trends with all deposit and loan products, and also ensures compliance with regulations, banking laws and internal policies and procedures.  Responsible for product development and implementation of deposit and card products and services to meet annual financial targets and long-range strategic objectives of the Credit Union.  The Director also leads a team of product subject matter experts.

Essential Functions, in Priority Order 

1       Responsible for driving all aspects of the Deposit, Card and Loan life cycle resulting in 3-year and Annual Product Roadmap, including the performance management of existing products, expansions and end of product life process. Role is tasked with new product improvements, innovation and product expansion, including the development of business cases and leadership over multi-disciplinary project teams. Responsible for turning concepts into concrete products or services that have a strong impact on Member Value, fit with brand positioning, revenue and market share. Time: 20%

2       Responsible for directing the analysis and interpretation of market and internal data, for product pricing and attaining approval for the annual product promotion plan.  Serves as a member of the Asset & Liability Committee (ALCO) providing recommendations for product pricing and promotion based on regulatory changes, competitive analysis, ALM, and Strategic Credit Union goals. Time: 20%

3       Responsible for ensuring strong organizational understanding of product suite, Product Roadmap, proposed launched and enhancements as well as product campaigns to meet organizational portfolio goals. Communicates clearly and regularly with internal stakeholders such as retail staff, line of business, operations and technology.  Keeps executive-level stakeholders and direct manager abreast of departmental efforts and outcomes 20%. 

4       Responsible for the strategic growth and profitability goals for deposit, loan and card products. This includes developing business plans for product launches and enhancements, developing product growth and income and expense budgets, managing product profitability, managing product pricing, balance sheet and member needs. Leading the team of product specialists in the creation of product marketing briefs to support achievement of loan and deposit portfolio goals. Time:  15%

5    Lead the team in managing vendor relationships pertaining to deposit, loan and card products. Includes proper due diligence, contract management, contract negotiation, compliance and regulatory updates and cost control and continuous improvement in vendor partners in effectiveness, quality, quantity, cost and timeliness.   Time: 10%

6    Lead and/or participate on functional and cross-functional project and campaign teams.  Time: 10%

7    Support response generation to internal and external complaints, concerns, suggestions or compliments.  Time: 5%


·        Bachelor's degree in Business Administration or related field or two years of related work experience required.

·        Master's degree in Business Administration, Management, or related field preferred. 


In addition to the education requirement:

·        Five years of managerial experience

·        Five years operational and product development experience is required or equivalent combination of education and relevant experience. 

·        Experience working in the financial services industry

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