Director, Product Management - Commercial Digital

Fifth Third Bank • Virtual - Ohio, OH

7d • $155,100 - $333,500 • Remote

About The Position

The Director, Product Management is a key leadership position responsible for all product development strategies to drive product sales growth and profitability across the assigned LOB. Includes development and continued management of core product lines along with ancillary sub-product categories. Performs role of liaison between several areas of the Bank including Sales, Operations, IT, Legal, Audit, Risk/Compliance and Marketing. Leads the business analysis, product design and development of new products and programs, consistent with the division's strategic direction. Direct development of customer and employee education for new and existing product initiatives. Manages a staff of product managers and leads project teams to develop and launch products to the market. Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Banks risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Requirements

• Bachelor's degree in business, marketing or finance, or equivalent experience required.
• An advance degree is preferred.
• Ten plus (10+ ) years of relevant Marketing/Product management experience and experience in managing professional staff is preferred.
• Position requires a demonstrated know ledge/experience with designated product line(s).
• Position requires a demonstrated understanding of current industry trends and issues related to the LOB product line.
• Must have analytical skills, and proficiency in Excel, Word, and Power Point.
• Work requires excellent organizational skills and the ability to multi-task.
• Position requires developed communication and strong interpersonal skills.
• Work requires experience and ability to influence and negotiate with individuals outside span of control.
• Position requires having a strong strategic skill set.

Responsibilities

• Provide strategic insights to leadership.
• Monitor industry trends and perform essential market research and analysis to define current and prospective customer needs.
• Maintain and enhance industry knowledge via conferences, industry periodicals, market segment studies, focus groups, etc., sufficiently to be an industry expert.
• Develop product strategy to meet revenue and market share goals through product design, packaging, promotion, and margin management.
• Participate actively in Pricing Committee and Production meetings seeking appropriate balance between volume and margin.
• Develop relationships with key internal and external partners, ensuring business line objectives are met and the division products are competitive and innovative; ensuring appropriate prioritization and integration of all product sold within LOB channels.
• Exercise direct supervision of assigned product segment managers and liaise with Division CFO, Marketing, Alternative Delivery Manager, Distribution Manager, and Product Sales Managers.
• Monitor and report product performance and profitability against established metrics; track cross-sell, retention, and set sales/delivery expectations.
• Manage the overall P&L of the associated product lines.
• Increase Bancorp LOB product sales, balance sheet and revenue growth through product innovation, education and promotion.
• Develop and maintain all necessary industry and vendor contacts.
• Responsible for providing employees timely, candid and constructive performance feedback; developing employees to their fullest potential and provide challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding employees for accomplishments.

Benefits

• Total Rewards include comprehensive benefits and differentiated compensation offerings
• eligible to participate in an incentive compensation plan
• extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being.

What This Job Offers

• Job Type: Full-time
• Career Level: Director