Product Manager, Mortgage

BMO•Chicago, IL

2d•$74,000 - $138,000

About The Position

Researches, defines, aligns, develops, and implements product strategies to enable effective sales, fulfillment, and servicing of new and existing consumer lending products. Carries out market research, forecasting, pricing, and competitive analysis, monitors product and system performance, and assesses problems to develop and implement solutions. Ensures compliance with applicable laws and regulations and risk policies. Collaborates with internal partners across the enterprise to take products to market. Develops comprehensive business cases to enhance product or customer experience, including the identification of needs and emerging issues/trends, analysis of benefits and risks of potential options, and estimation of expected returns on investment. Develops detailed project implementation plans; coordinates timely execution of related activities alongside internal and external stakeholders. Designs and produces regular and ad-hoc reporting to monitor key product performance and growth metrics and support risk management and policy development. Supports change management of varying scope and type; tasks typically focused on execution, training, and sustainment activities. Resolves internal, complex or higher-risk customer escalations or policy exceptions, which may include interactions with clients and sales. Gathers customer and sales feedback and analyzes issues. Participates in and evaluates market research and competitive analysis to identify product strengths and gaps, and extract insights. Acts as the day-to-day contact for external partners; supports the implementation, maintenance, and sustainment of vendor solutions; ensures that all agreements are met as per requirements. Develops and updates product documentation, templates, and requirements to accurately reflect product and systems functionality.

Requirements

Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Strong experience with consumer / commercial credit applicable to retail and business financing products.
Strong experience working with retail and business product fundamentals, including product design, functionality, and related policies and procedures
Strong knowledge of product delivery infrastructure systems and underlying product interdependencies.
In-depth retail and business banking environmental awareness / understanding.
In-depth risk management associated with new and existing product development and management.
Strong knowledge of process coordination and management.
Strong knowledge of banking product management and associated industry and regulatory requirements.
Building business cases - in-depth
Researching market trends – in-depth
Relationship management – in-depth
Analytics and reporting – in-depth
Product marketing – in-depth
Negotiation skills – good
Software and systems architecture knowledge – good/in-depth
Financial Understanding – good/in-depth
Deep knowledge and technical proficiency gained through extensive education and business experience.
Verbal & written communication skills - In-depth.
Collaboration & team skills - In-depth.
Analytical and problem solving skills - In-depth.
Influence skills - In-depth.
Data driven decision making - In-depth.

Responsibilities

Researches, defines, aligns, develops, and implements product strategies to enable effective sales, fulfillment, and servicing of new and existing consumer lending products.
Carries out market research, forecasting, pricing, and competitive analysis, monitors product and system performance, and assesses problems to develop and implement solutions.
Ensures compliance with applicable laws and regulations and risk policies.
Collaborates with internal partners across the enterprise to take products to market.
Develops comprehensive business cases to enhance product or customer experience, including the identification of needs and emerging issues/trends, analysis of benefits and risks of potential options, and estimation of expected returns on investment.
Develops detailed project implementation plans; coordinates timely execution of related activities alongside internal and external stakeholders.
Designs and produces regular and ad-hoc reporting to monitor key product performance and growth metrics and support risk management and policy development.
Supports change management of varying scope and type; tasks typically focused on execution, training, and sustainment activities.
Resolves internal, complex or higher-risk customer escalations or policy exceptions, which may include interactions with clients and sales.
Gathers customer and sales feedback and analyzes issues.
Participates in and evaluates market research and competitive analysis to identify product strengths and gaps, and extract insights.
Acts as the day-to-day contact for external partners; supports the implementation, maintenance, and sustainment of vendor solutions; ensures that all agreements are met as per requirements.
Develops and updates product documentation, templates, and requirements to accurately reflect product and systems functionality.