Consumer Payments Product Manager

Position Title: Consumer Payments Product Manager

Reports To: Director of Product Management

Department: Product Management

FLSA Status: Exempt

Purpose: The Consumer Payments Product Manager is responsible for delivering comprehensive strategies for Five Star Bank's products and services, with a focus on consumer banking product lines. The role is responsible for the long-term strategy and vision for a set of assigned consumer banking products, which include Debit Card, Credit Card, P2P, and similar consumer payments and services. Responsibilities include innovative development, launch, and ongoing support of a competitive set of products and features. This role is responsible to:

• Initiate and lead efforts to enhance our current consumer banking payment capabilities

• Drive innovation that supports growth and increased scale through in-branch and digital delivery of consumer banking payment products and services

• Conduct ongoing market research of existing and new products and services to identify and recommend features that encourage customer engagement with consumer banking product and refine the competitiveness of Five Star Bank's consumer products and services capabilities

• Identify and launch products and services that will improve the experience of our customers.

• Work closely with peers, including the Consumer Deposits and Consumer Lending Product Managers, and other internal partners across the Bank to integrate processes and allow our customers to bank with us in the channel of their choice, with a seamless experience across branch, mobile and web platforms.

• Work closely with external payment partners and digital providers to ensure successful delivery of payment networks and functionality to customers.

Supervisory Responsibilities:

Degree of Supervision Received: Minimal

• Supervision Received (title): Director of Product Management

Degree of Supervision Given: Minimal

• Supervision Given to (Titles): N/A

Essential Functions:

1. Build and execute product strategies that encompass and refine our Consumer Payment product roadmap. These strategies should contemplate needs of the various Consumer customer segments and payment needs unique to each segment, market assessment of peers and industry, profitability analysis, and a defined value proposition that differentiates FSB consumer products and services.
2. Identify and/or develop new consumer banking products and services, ensure delivery of banking products and services in-branch and digitally, prioritize product opportunities, and develop business cases and integrated project launch plans to execute the product strategy. Lead cross-functional teams including sales, marketing, finance, compliance, operations and IT to deliver product initiatives to market. This includes understanding every aspect of the product, including, but not limited to, compliance, regulations, operations, systems, sales, marketing, delivery and technology.
3. Ensure product initiatives are designed to support Five Star Bank's priorities, growth plan, and annual profitability targets
4. Review and report on the financial impact related to new product development, pricing strategies, new program launches and customer segmentation.
5. Lead campaigns associated with assigned products; communicate the logistics of the campaign internally, work with Director of Marketing on marketing tactics, work with Compliance / Fair Lending, to ensure all campaign materials are compliant with UDAAP and all other applicable regulations and standards. Ensure alignment with Director of Product Management for overall campaign.
6. Ensure product initiatives fit within cross-functional capacity constraints and are prioritized and sequenced to achieve business goals and goals for our Consumer banking platform.
7. Research and identify industry best practices and trends in consumer banking to increase effectiveness. Understand the competitive landscape for consumer banking, including new products, product attributes and pricing positions across your assigned product portfolio.
8. Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.

Job Related Qualifications - Education and Prior Experience:

Required:

• Education: Bachelor's Degree in, Business Administration, Finance, Marketing or related field
• Prior Experience: 7+ years Product Management
• Licenses or Accreditation: N/A

-OR-

Preferred:

• Education: Bachelor's Degree in Business Administration, Finance, Marketing or related field
• Prior Experience: 7+ years' experience in Consumer Banking Product Management, including roles with Consumer Deposits, Consumer Lending, and Payments products, consumer banking product development, or innovation of banking platforms, products, and services
• Licenses or Accreditation: N/A

Competencies:

1. Analytical ability to interpret data and present it in a meaningful and easily understood form. Work extensively with spreadsheets to analyze financial data, predict future costs, revenue and profitability with support from internal finance team.
2. Excellent written and verbal communication skills. Ability to inspire fellow team members to achieve goals.
3. Excellent project management skills. Experience managing business initiatives across groups.
4. Excellent organizational skills with ability to manage multiple priorities and meet established deadlines.
5. Knowledge of bank products and services, including digital banking features and technologies.
6. Proficient in Microsoft Office with ability to learn and utilize new and existing banking software applications.
7. Ability to work with all levels of staff and share ideas to achieve company-wide results. A drive to succeed.

Physical Requirements:

1. Able to regularly sit for prolonged periods of time.
2. Able to travel within the corporate footprint:
   1. occasionally
3. Extensive computer usage is required.

This job description is not exhaustive. The Consumer Payments Product Manager may be required to perform other duties as assigned, including supporting other talent development and planning work that supports the business success.