Product Manager

Location: Toronto, ON – Hybrid (Minimum 2 Days WFO)

WHAT IS THE OPPORTUNITY?

The Product Management function includes the following responsibilities:

• Develops, manages, and owns products and programs that support corporate-defined strategies and initiatives and contribute to the organization's competitive edge in the marketplace.
  

• Creates new products to increase market share.
  

• Develops and enhances strategic products to meet profitability goals.
  

• Provides direction and support relative to product design, enhancement, research, pricing/fees/profitability, implementation, analysis, reporting, and performance.
  

Product Management is an ongoing cycle. It begins with analysis of needs and opportunities, leading to product development. Once the product is developed, colleagues must be trained, policies and procedures developed, pricing and positioning established, and marketing materials created. Subsequently, product tracking occurs, followed by analysis and recommendations to enhance the product to provide better service to clients or to be more competitive in the marketplace.

Product Management coordinates and manages the formulation and implementation of all activities for a specific product or product line from conception to marketplace; performs economic and market research and analysis; provides product documentation and training; and serves as a technical advisor on matters concerning the designated product and/or product line.

WHAT WILL YOU DO?

• Manage assigned products/product lines.
  

• Identify, evaluate, and implement measures to improve product performance, profitability, competitiveness, and accountability.
  

• Identify, evaluate, and implement opportunities/needs for product enhancement and development. These opportunities may be identified through:
  

  • Regular market and competitor analysis.
    

  • Solutions developed as a result of client needs.
    

  • Suggestions from business units or product review committees.
    

  • Initiatives that meet specific organizational goals or target new client segments.
    

• Prepare reports and analyses on assigned products/product lines and present them to management regularly. Reports may focus on market or competitive issues, economic and risk factors, pricing, product strategy, profitability, etc.
  

• Keep up to date on competition, regulation, marketplace, and internal and external issues related to assigned products.
  

• Develop information materials on product features, benefits, requirements, pricing, and services, and prepare and execute training seminars as needed.
  

• Review product pricing annually for all assigned products. Make recommendations and implement changes, including disclosure, training, and colleague communication.
  

• Monitor development activities relating to product objectives, budget, quality standards, and schedule.
  

• Recommend and implement programs to minimize costs, ensure optimum output, and maintain quality. Advise on technical problems, priorities, and methods.
  

• Participate in product evaluation and provide recommendations for changes and revisions as required.
  

• Serve as a product expert, providing guidance on sales, product positioning, and operational support for technical product issues.
  

• Manage the Product Management portion of acquisition conversions, including product mapping, order checks, product analysis/comparisons, package support, and related activities.
  

• Represent the organization by participating in civic and community affairs, business and industry-related organizations, and other professional activities as appropriate.
  

• Foster and maintain good relationships with colleagues to ensure integrated processes and expected customer service levels. Act as a business partner by managing expectations and providing guidance regarding assigned products.
  

• Maintain current awareness and understanding of applicable laws, regulations, internal policies, and procedures, and comply fully with them.
  

WHAT DO YOU NEED TO SUCCEED?

Required Qualifications

• Minimum 3 years of product management experience.
  

• Minimum 3 years of banking/financial services experience.
  

• Minimum 2 years of experience managing medium to large projects.
  

Additional Qualifications

• Bachelor's degree or equivalent experience.
  

• Excellent organizational, problem-solving, analytical, planning, and scheduling skills.
  

• Strong leadership and negotiation skills, with extensive industry/business knowledge.
  

• Excellent verbal and written communication skills, as well as strong presentation skills.
  

• Proven experience demonstrating initiative in creating and maintaining positive business relationships with various unit managers.
  

• Project management experience with the ability to concurrently manage multiple projects and timeframes.
  

• Excellent verbal and written communication skills necessary to prepare comprehensive reports, make presentations, and communicate with all levels of management.
  

• Proficiency in Excel, Word, and PowerPoint; Access and other advanced programs would be beneficial.
  

• Ability to manage complex products and services.
  

• Strong leadership, negotiation, project management, organizational, and analytical skills.
  

• Good knowledge of banking.