Product Manager III - Consumer Credit Cards

City National Bank•Los Angeles, CA

About The Position

The Product Manager III will lead the development, management, and optimization of consumer credit card products tailored to the unique needs of RBC Wealth Management clients. This role focuses on creating and enhancing credit card solutions that align with the bank’s wealth management strategy, drive client engagement, and contribute to profitability. Key responsibilities include: Developing and managing credit card products that cater to high-net-worth and affluent clients, ensuring they align with RBC Wealth Management’s broader financial solutions. Enhancing product features to meet client expectations for premium benefits, rewards, and personalized experiences. Analyzing market trends in the credit card industry, particularly within the wealth management segment, to identify opportunities for innovation and differentiation. Collaborating with cross-functional teams (e.g., marketing, risk, compliance, and technology) to ensure seamless product delivery and client satisfaction. Driving profitability by optimizing pricing, fees, and rewards structures while maintaining competitiveness in the wealth management space. Product Management for credit cards in RBC Wealth Management involves a continuous cycle: Analysis: Identify client needs, market gaps, and competitive benchmarks. Development: Design credit card products with features like travel rewards, concierge services, and exclusive benefits. Launch: Coordinate training, policy updates, and marketing materials for internal and external stakeholders. Monitoring: Track product performance, client feedback, and market shifts. Enhancement: Recommend improvements to ensure ongoing relevance and competitiveness.

Requirements

Minimum 5 years of product management experience required.
Minimum 3 years of financial services industry experience required.
Minimum 3 years of experience managing medium to large projects required.

Nice To Haves

Bachelor’s degree or equivalent experience
Excellent organizational, problem solving, analytical, planning, and scheduling skills
Strong leadership and negotiation skills; executive presence
Extensive credit card industry/business knowledge
Excellent verbal and written communication skills with the ability to prepare comprehensive reports, make presentations and communicate with all levels of Bank management
Proven experience in demonstrating initiative in creating and maintaining positive business relationships with various unit managers
Project management experience with the ability to concurrently manage multiple projects and timeframes is necessary
Excellent verbal and written communication skills
Proficiency in Excel, Word, and PowerPoint are essential

Responsibilities

Manage the credit card product portfolio for RBC Wealth Management, ensuring alignment with client needs and business objectives.
Identify and evaluate opportunities for product enhancements, such as premium rewards programs, cashback structures, or travel perks tailored to affluent clients.
Conduct regular market and competitor analysis to benchmark RBC’s credit card offerings against industry leaders in wealth management.
Prepare and present reports to senior leadership on product performance, profitability, and strategic recommendations.
Collaborate with marketing to develop targeted campaigns and materials highlighting credit card benefits for wealth management clients.
Review and optimize pricing/fees annually, ensuring compliance with regulatory requirements and client expectations.
Serve as the subject matter expert for credit card products, providing guidance to sales teams on positioning and selling to high-net-worth clients.
Monitor risk and compliance for credit card products, working closely with risk management and legal teams.
Foster relationships with internal stakeholders (e.g., client advisors, operations) to ensure seamless product integration and client support.
Stay updated on industry trends, including digital payment innovations, regulatory changes, and client preferences in the wealth management space.

Benefits

Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
Generous 401(k) company matching contribution
Career Development through Tuition Reimbursement and other internal upskilling and training resources
Valued Time Away benefits including vacation, sick and volunteer time
Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
Career Mobility support from a dedicated recruitment team
Colleague Resource Groups to support networking and community engagement

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