JOB FUNCTION / SUMMARY: Designs, develops, and markets new payment card and related products for one or more divisions or market segments. Responsible for reviewing and modifying existing products to maximize profitability, meeting strategic business objectives, improving competitive market position, and satisfying customer needs.

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Evaluates potential products, recommends the development of new products or modifies existing products to meet community needs and bank financial goals.
• Designs, develops, and implements new payment card and related products or modifies existing products in conjunction with other bank departments and external vendors.
• Monitors the profitability of existing products and services. Makes recommendations to improve profitability, effectiveness, and efficiency of products and services to achieve short and long term strategic goals.
• Evaluates existing products, processes, and services to ensure that the bank remains competitive in the market, performing formal market evaluations regularly.
• Sets and recommends strategies and goals for the marketing of assigned products and services including market direction, pricing, and budget and monitoring achievement of market goals.
• Works with marketing and appropriate product line sales channel partners to develop measurable programs, campaigns, and collateral that promotes assigned products.
• Keeps abreast of industry trends and regulations, proactively identifying changes affecting the assigned product line and department and takes appropriate action, notifies staff of internal operation changes.
• Works with internal compliance and regulatory departments to ensure products and services are compliant with state and federal oversight agencies.
• Incumbent is responsible for organizational integrity and business ethics as it relates to this position, and communicating this commitment to any applicable subordinates.
• Incumbent may have access to cash, customer accounts and/or sensitive and confidential information.
• Incumbent is required to comply with all applicable federal, state and local banking and industry related laws and regulations including but not limited to the Bank Secrecy Act.
• Performs other related job duties to include special projects as assigned.

SUPERVISORY RESPONSIBILITIES: Provides guidance and direction to junior product managers in order to ensure a thorough understanding of bank products, services, standards, and bank pricing parameters, business development programs and systems. May directly supervise associates as required by departmental needs.