GENERAL FUNCTION: Own the day to day oversight of assigned product(s) within the bank’s sponsorship programs department. For their assigned product(s), the Product Manager will be the primary point of contact and relationship manager for the bank’s sponsored third parties. The Product Manager will also be responsible for maintaining sales goals and profitability of assigned product(s) and an on-going due diligence program to ensure regulatory, contractual, and procedural compliance.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
SALES
- Identify opportunities for revenue growth and improved profitability of assigned product(s)
- Collect and analyze information related to the competitive marketplace
- Meet budgeted performance objectives for assigned product(s)
PRODUCT KNOWLEDGE
- Identify and track new regulatory requirements or changes to existing regulatory requirements
- Respond to and implement regulator and auditor recommendations
- Identify and implement operational efficiencies or procedural changes as needed
- Lead cross functional teams to implement product changes
- Maintain a comprehensive understanding of payment network operating rules and industry best practices
- Oversee settlement and reconciliation process for assigned products
- Make presentations to senior management team
DUE DILIGENCE/OVERSIGHT
- Oversee performance of program managers, processors, ISOs, distributors and other third parties related to assigned product(s)
- Conduct and present reports on third party due diligence and document review including a company’s financial condition, audit results, key personnel, policies & procedures, and other relevant reviews
- Ensure third party compliance with contracts, including reserve requirements, monetary obligations, financial covenants, compliance obligations, and service level agreements
- Conduct regularly scheduled product meetings/conferences with sponsored third parties, including on-site visits as needed
- Coordinate review of marketing collateral, changes to product terms and conditions, or other product documents for compliance with law
Required Skills
- Excellent decision making and analytic skills.
- Ability to work autonomously.
- Ability to work creatively with strong problem solving skills.
- Ability to manage multiple responsibilities simultaneously.
- Excellent organizational skills and strong attention to detail.
- Strong oral and written communication skills.
- Proficient use of MS Office Suite of Products (Word, Excel, Power Point, Outlook).
Required Experience
- Bachelor’s Degree
- Seven years work-related experience, preferably in payments, banking or financial services
- Project management or product implementation experience required