Senior Product Manager

Job Description
Description Responsible for the development and management of one or more complex cash management products. Ensures cash management products are marketable and profitable while focusing on quality to the customer and value to the bank.

Responsibilities:

• Manages one or more complex products to optimize their contribution to the overall profitability of the cash management business. Responsible for understanding cost drivers and the competitive pricing landscape in order to recommend appropriate product pricing structure and pricing actions.

• Conducts competitive feature/functionality assessments to understand market trends and develop a strategy for the positioning of Webster products. Fosters and maintains contacts in the cash management industry to facilitate the gathering of market intelligence. Gathers and reviews customer feedback to gauge satisfaction.

• Identifies gaps in Webster’s product offering and new product opportunities. Drives the evaluation and business case for entry into new markets or products. Provides the business leadership to develop and roll out creative, market-leading or new-to-Webster cash management capabilities.

• Prepares and implements annual product plans to include overview of the product, its position in the market, current marketing strategies, target segments, volume & revenue performance, profitability, risk assessment, issues, opportunities and recommended actions.

• Continually assesses assigned product(s) to identify opportunities for enhancement to maintain competitive position and drive performance. Responsible for compiling the business case for product development initiatives and writing the business requirements.

• Keeps abreast of regulatory guidance on assigned products and works with business partners to ensure compliance. Maintains awareness of fraud and other operating risk; identifies and drives actions to mitigate risk.

• Develops and maintains relationships with internal partners such as:

o Bank Operations – to improve service efficiencies and resolve service delivery problems

o Information Technology and Continuous Improvement – to enhance or develop new product
capabilities

o Finance – to determine product costs and assist with profitability models and business cases

o Marketing – to obtain assistance with collateral material

o Compliance and Risk Management – to obtain assistance in managing operating risk

o Sales teams – to market products and services as customer solutions

o Cash Management implementation and service teams – to successfully onboard and service external customers

• Supports the sales team with subject matter expertise, input to Proposals, product training and marketing collateral.

• Conducts the roll-out of new products and enhancements, including sales, implementation and service team training, internal/external communications, and updated marketing collateral.

• Works with internal business partners and the Service Team Manager to resolve any workflow, payments, transactions or other operational questions/ system issues posed by customers or uncovered by the implementation team. Assists in communicating to clients, sales officers and others the status of issues.

• Sunsets products or services that are no longer viable in the marketplace or profitable to the bank. Coordinates internal and external communication, customer migration strategy and execution, and removal of all collateral and other reference material to archive.



Requirements Requirements:

• Bachelors Degree required - Business or Liberal Arts

• Advanced degree preferred - Master of Business Administration

• Minimum of 9+ years of related experience - commercial product management

• Thorough Knowledge of Cash Management products and services

• Customer contact and project related experience

• Proven management skills and experience

• MSOFFICE skills – Word, Excel, Project, PowerPoint, and Outlook

• Excellent organization and analytical skills

• Ability to work well with all levels of management and support staff

Licenses /Certifications-
• Certified Treasury Professional (CTP) Designation from the Association of Financial Professionals
Or similar professional accreditation is helpful but not required.

Company

Webster Bank

Job Code

State or Province

Connecticut

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