Vice President, Sr. Product Manager of Cash Vault

Regional bank with leading international company as major stockholder has big plans to expand through this bank into the United States.  This position will serve a key role as member of the Product Management and Development team.  Succession planning is in place to launch your career in any number of directions in the future.  Join this progressive organization who views people as their greatest asset, and be a part of history, making and seeing something in reality where other banks are just in the formative stages. 

 

Responsibilities

 

The Vice President & Senior Product Manager of Cash Vault is responsible for the development and management of all Cash strategies for the commercial business segments and specialty markets. This individual will provide profitable cash management solutions that meet the needs of targeted client segments and the strategic goals of the Commercial Deposits & Treasury Management (CDTM) line of business.  This individual will act as subject matter expert for assigned products including operational, legal and industry aspects, as well as understanding of market dynamics associated with products.

 Prepare business cases to identify, evaluate and prioritize potential new initiatives, as well as develop detailed profitability and volume estimates.  Partner with appropriate stakeholders to identify product development requirements; take an active role in the process by communicating product strategy and market needs to the Product Developer, to the applicable cross-functional teams. Consult with Product and Technical Consultants on client needs.Facilitates all risk and legal issues with Compliance, Audit and counsel; creates and updates agreements; is current on all US and foreign regulatory matters impacting the product. Develop pricing strategies that consider markets, segments, and competitive data, revenue/cost/profitability data and discount guidelines. Create and design all marketing collateral information. Lead training initiatives and develop annual marketing plans for product. Coordinate product development and management activities with Bank departments and outside vendors to expeditiously promote and deliver quality products to the marketplace.Prioritize the expenditure of the Bank's resources to ensure the most cost effective development of products and new enhancements. Ensure that the appropriate consulting and sales functions are informed of new products and enhancements.Coordinate the research effort by determining market segments.  Advise management of potential delivery capabilities through preparation of strategy presentations or papers that define markets, product design, profit, marketing costs, alternative systems, operating expenditures and capitalization.  Manage existing product lines, ensuring that state-of-the-art technology is applied to delivery systems. Maintain an awareness of major industry trends and evaluate enhancement opportunities.  Make major strategic recommendations to management through presentation of proposals that analyze internal operating procedures, user groups and customer trends, pricing cost and internal/external technology and procedures needed to effect change. Responsible for preparing annual Bank forecasts of product volume, revenues and costs.Coordinate the development of operational systems and procedures between multiple users and delivery departments. Develop and supervise the writing of internal and user procedures and guides.Develop strategies for pricing, advertising, marketing and training for assigned product lines.  Review requests from line management to modify and/or change strategies, design or procedures of existing products. Determine cost effectiveness and compliance with auditing procedures and legal requirements. Approve daily operational problems regarding customer implementation and vendor technical problems on an exception basis.  May assist in the overseeing/training of more junior level employees.  Follow account opening procedures and understand and follow internal suspicious activity referral requirements and processes, as required for this position. Actively work with customers to understand each customer's normal account activity, as appropriate for this position.Actively ensure compliance with Union Bank's Business Standards of Conduct and all Patriot Act, CIP, Anti-Money Laundering, Bank Secrecy Act, information security and suspicious activity reporting requirements, and other regulatory and compliance policies and procedures.

 

Qualifications

 Undergraduate degree is required.  Equivalent experience may be considered.  Minimum of seven years of technical experience within banking or financial services arena (i.e. 3-4 years of Treasury Services experience) or equivalent product management knowledge. Understanding of working capital concepts and liquidity solutions, including long and short-term investment and funding options. Knowledge of payables and receivables products, US payment systems and related regulations. An understanding of accounting concepts and financial controls, fraud management and internal audit. Excellent written and verbal communication skills.Proven track record of setting the strategic direction of a product, as well as making decisions on ongoing delivery and client issues. Demonstrated ability to size and plan projects of broad scope with numerous bank interfaces. Capacity to manage multiple products with minimal supervision. Success mentoring, coaching and playing a leadership role with other Product Managers and bank personnel on product issues.Ability to design or develop complex spreadsheets, databases or custom reports or report formats.