Product Manager

The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.

Position Title: Product Manager – Commercial Payments and Profitability

Reports To: Director of Strategy, Technology & Operations

Department: Product Management

FLSA Status: Exempt

Purpose

: A Product Manager is a multi-faceted position requiring a blend of strategic thinking, technical understanding, financial acumen, regulatory knowledge, and strong communication and collaboration skills.

The Commercial Payments and Profitability Product Manager will play a critical role in ensuring that the Treasury Management products offered by the bank meet the evolving needs of commercial clients while contributing to the bank's overall success.

This position is primarily responsible for Electronic Transactions and serves as subject matter expert for the electronic payments leveraged in commercial products with a specific focus on ACH and Wire payments. The position is responsible for the design, development, and delivery of payments-related services focused on Commercial and Industrial, Business Banking, and Municipal customer segments.

This role requires experience in Commercial Treasury Management and electronic transactions, especially ACH, and should be AAP Certified (Accredited ACH Professional). A qualified candidate must have demonstrable expertise in ACH and NACHA operating rules with the following areas of focus: operational practices, customer needs, risk mitigation, compliance, audit, and maintaining ACH parity in the market. Additional product management responsibilities include EDI Reporting, Account Reconciliation, Positive Pay, UPIC and Controlled Disbursement.

In addition, the candidate will be responsible for directing, maintaining, and reporting on the Account Analysis Billing system across the entire Treasury Management product line, working with the business line leaders and operations to contribute to profitability of Bank.

Supervisory Responsibilities

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Degree of Supervision Received: Minimal

Supervision Received (title): Director of Strategy, Technology & Operations

Degree of Supervision Given: None

Supervision Given to (Titles): NA

Essential Functions

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Product Strategy and Vision: Develop and maintain a clear vision for the Treasury Management products. This includes understanding market trends, customer needs, and the competitive landscape. They should be able to articulate how their products fit into the broader strategy of the bank and address specific client segments. Product Development and Management: Responsible for overseeing the development and enhancement of Treasury Management products. This involves working closely with technical teams to ensure that the products are innovative, user-friendly, and meet the highest standards of quality and security. Market Analysis and Customer Insights: Conduct market research and gather customer feedback to understand the needs and pain points of commercial clients. This information is crucial for developing new products or enhancing existing ones to better serve the market. Regulatory Compliance: Ensure that all Treasury Management products comply with relevant laws and regulations. This includes staying updated on changes in the banking regulatory environment and working with legal and compliance teams to navigate these complexities. Financial Management: Managing the budget for product development and marketing, as well as forecasting and analyzing the financial performance of the product portfolio. They need to ensure that the products are profitable and contribute positively to the bank's bottom line. Cross-functional Collaboration: The role requires collaboration with various departments within the bank such as marketing, compliance, risk management, operations, and business leaders. The Product Manager needs to ensure that all teams are aligned with the product strategy and have the necessary tools and information to effectively sell and support the products. Sales and Marketing Support: Assist in creating marketing materials and sales strategies for Treasury Management products. This could involve training sales teams, developing sales collateral, and participating in customer meetings to provide expert knowledge. Customer Experience and Service: Ensure that the product offers a high-quality customer experience is crucial. This includes keeping abreast of the customer service touch points related to the product, addressing any issues or feedback, and continuously seeking ways to enhance customer satisfaction. Product Lifecycle Management: Responsible for managing the entire lifecycle of each product, from inception to retirement. This includes making decisions about when to update, enhance, or discontinue products. Manage the product delivery of electronic payments for the organizational enterprise with a focus on commercial, business, and municipal banking. Establish working partnerships with stakeholders across the organization to advocate for customer needs, understand partners’ needs, and propose strategies to deliver effective solutions to support business growth. Serves as the leading subject matter expert for ACH and Wire electronic payments for the organization. Conduct competitive market research and industry discussions to understand the current and future trends for electronic payments. Represent the organization in vendor discussions including discovery, vendor selection, and ongoing vendor relationship management. Participate in program management including project planning, budget and forecasting, internal reporting, and presentations and discussions with senior leaders to inform organizational decisions. Lead assigned projects by partnering with stakeholder groups to ensure tasks are properly scoped and expected outcomes are well-established with support partners. Maintain expertise on internal and customer-facing applications systems. Create, publish, and maintain, internal and external documentation for supported products and services, including, but not limited to procedures, user guides, fact sheets, FAQ’s, sales documents, agreements, and customer election forms. Supports enterprise efforts, projects, and initiatives to advance organizational goals. Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders.

Job Related Qualifications – Education and Prior Experience

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Required:

Education: Bachelor’s Degree Prior Experience: 5+ years of Commercial Banking, Treasury Management, and Payments experience in service, operations, product, technology, or business function and/or Product Management supporting business, commercial, and/or municipal banking for ACH, Wire, or Card. Licenses or Accreditation: Any required licenses or accreditation required

Preferred:

Education: Master’s Degree Prior Experience: 10+ years of Commercial Banking, Treasury Management, and Payments experience in service, operations, product, technology, or business function and/or Product Management supporting business, commercial, and/or municipal banking for ACH, Wire, or Card. Licenses or Accreditation: Accredited ACH Professional (‘AAP) Certification

Competencies

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Possesses refined written, verbal, and presentation communication skills. Embraces the role of a product manager in a multi-stakeholder ecosystem with a demonstrable understanding of product, pricing, placement, and promotion. Demonstrable understanding of commercial banking concepts, treasury management, and ACH and Wire payments. Ability to support projects from end-to-end and understand how to support and lead the following: solution discovery, business requirement construction, technology specifications support, project launch, internal approval management, testing, communication, delivery, and post-project review. Demonstrable organizational skills to maintain collaborative stakeholder discussions and work independently to meet established deadlines. Ability to successfully navigate computer systems in a professional setting: email, Microsoft Office, internal applications, and customer-facing applications. Capability of supporting learning systems to help educate and inform internal stakeholders on customer needs and supported products. Ability to independently engage with support partners across the organization to advance assigned objectives and respond with urgency to resolve unexpected incidents. Familiarity with preparing and delivering internal reports to senior leaders. Possess a firm understanding of risk, compliance, and audit functions to support the identification, assessment, mitigation, and control management of identified risks. Desire to advance the organization’s vision for meeting cultural and community objectives.

Physical Requirements

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Able to regularly sit for prolonged periods of time. Able to travel Occasionally Extensive computer usage is required.

This job description is not exhaustive. The Product Manager - Commercial Payments & Profitability may be required to perform other duties as assigned. #J-18808-Ljbffr