Credit & Debit Card Product Manager
Sacramento, CA | Full Time/Permanent
Credit & Debit Card Product Manager
Responsible for the architect and product vision of the credit and debit card portfolio for both consumer and commercial members, including development, participation, profitability, roll-out and testing to ensure overall contribution to organization. Conduct comparative analysis against competitors and provide strategic planning of payment product direction and features., vendor management, disclosure management, budgeting, promotions, and product marketing. Will manage and influence all aspects of card product lifecycles, including business and risk analysis.
Monitors and maintains existing portfolios by ensuring product offerings are competitive, current, member segment applicable, and meet member experience expectations. The Product Manager develops and implements strategic plans for the program and facilities close partnerships with internal and external partners.
- Develop and execute a strategic payment product plan. Develop, maintain, and fully understand product descriptions, including how the products work from start to finish.
- Research new and existing payment products. Monitor industry trends, including researching competitor practices and pricing.
- Develop annual plans and ongoing forecasts, including identification of variances and development of corrective tactics as they develop (across both short and longer-term horizons).
- Understand cardholder life-cycle management, recommend and champion product development, product enhancements, product elimination, margin or retention improvement actions and additional new revenue opportunities.
- Develop strategic promotional programs to increase card penetration, usage and that deliver the highest value to cardholders while maximizing program returns.
- Demonstrate an ongoing awareness of competition strategies, knowledge of their product offerings, and pricing patterns. Recommend new products, promotions, and changes to ensure the company is competitive in keeping the company cards top of wallet and top of mind.
- Develop portfolio and member base segmentation strategies to deliver the highest value to cardholders while maximizing marketing program returns.
- Responsible for effective product communication and knowledge oversight of product features, benefits, and promotions to Credit Union staff.
- Ensure product enhancement and new product development process is aligned with the member/industry needs, credit union philosophy, organizational resources and current strategies.
- Leverage industry and credit union data, market research, key learning, and best practices to add value and deliver relevant insights and recommendations.
- Have command of the intricacies of each payment product line, and serve as the in-house expert on a number of product-related issues.
- Foster relationships with third party providers that assist the company in delivering best in class solutions and results as well as ensure optimum customer service, quality, accuracy and responsiveness.
- Work with all levels of management in product development, as well as collaborate with internal departments on evaluation, implementation launch, and ongoing servicing.
- Serve as lead contact for compliance functions as related to card specific compliance requirements.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Knowledge of the financial services industry
- In depth knowledge of card payment industry
- Knowledge of Credit, Debit, ATM, Gift, and Prepaid card functions, Visa and other non-Visa networks
- Knowledge of and ability to analyze major network interchange structure and processing
- Knowledge of CO-OP’s Shared Branching processing and ATM network
- Comprehensive knowledge of federal and state regulations, Credit Union policies, and Visa rules
- Customer service orientation
- Time management and prioritization
- Ability to read and interpret card related disclosures
- Ability to read, interpret, and write routine reports, correspondence, and procedure manuals
- Ability to speak effectively before groups of customers, employees, and senior management
- Ability to perform root cause analysis
- Knowledge of Project Management methodologies
- Knowledge of financial institution risk assessment, risk mitigation, and internal control practices
- Ability to multi-task, set priorities, and execute action plans in order to meet organization goals and deadlines
Education And/Or Experience:
Bachelor's degree (B. A.) from four-year college or university
Five (5) years financial institution experience
Three (3) years card product management experience (card operations experience ok)
An equivalent combination of education and experience may be considered.
- Is committed to developing professionally, attends professional conferences, focuses on best practices, values cutting-edge practices and approaches; takes advantage of a variety of learning activities, introduces newly gained knowledge and skills on the job.
- Shows ability to plan, schedule, direct work of self and others; balances task requirements and individual abilities; organizes materials to accomplish tasks, sets challenging yet achievable goals for self and others.
- Communicates a vision and inspires motivation; engages with others (direct-reports and peers) in a team process to solve problems; works to find win/win resolution of differences; is aware of how management style impacts staff productivity and development; modifies leadership style to meet situational requirements; helps team stay focused on major goals while managing within a context of multiple directives.
- Possesses, acquires, and maintains the technical/professional expertise required to do the job effectively and to create client/customer solutions. Technical/professional expertise is demonstrated through problem solving, applying professional judgment, and competent performance.
- Sets high standard and well-defined, realistic goals for one’s self; displays a high level of effort and commitment towards completing assignments in a timely manner, works with minimal supervision; is motivated to achieve.
- Takes action without being asked or required to; achieves goals beyond job requirements; being proactive; taking prompt action to accomplish objectives.
- Clearly conveys and receives information and ideas through a variety of media to individuals or groups in a manner that engages the listener, helps them understand and retain the message, and invites response and feedback. Keeps others informed as appropriate. Demonstrates good written, oral, and listening skills.
- Excellent planning, interpersonal, influencing, and problem solving skills are required
- Must have demonstrated ability to motivate people & find common ground to achieve objectives
- The ability to develop and forecast budgets for current and future years.
- Superior verbal and written communication skills, including ability to tailor communications based on audience
- Strong understanding of financial products and services, digital transformation and emerging technologies preferred.
- Ability to act quickly and triage in a crisis situation to make decisions and keep key constituents informed of the situation
- Organize and execute work to goals and end dates; demonstrates a sense of urgency around problems
- Excellent relationship management skills
- Organize, manage and track multiple detailed tasks and assignments with frequently changing priorities in a fast-paced work environment
- Promoting effective coordination between work groups
- Proven track record of building influential relationships with internal customers; ability to influence across departmental lines without direct authority
- Ability to think strategically and identify and understand business needs and translate into strategic direction, plans and solutions
- Monitors and checks work to meet quality standards; demonstrates a high level of care and thoroughness checks work to ensure completeness and accuracy.
- Experience working with IT groups to create technical solutions for business needs.