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Head of Wholesale Product Management

Company: Flagstar Bank
Location: Troy
Posted on: January 26, 2023

Job Description:

Head of wholesale products for community bank is responsible for --- The research, design, development, and delivery of new value-added products to augment and enhance product lines, improve competitive position, and increase revenues while ensuring compliance with industry regulations and rules. --- Employing an end-to-end view of products across the enterprise, first taking measure of the bank's current capabilities and then layering over these products the lens of the customer. --- Staying informed on evolving technologies and markets to ensure the bank is consistently on the forefront of next generation products and services, and employ that knowledge in developing and delivering products that will ensure market leadership. --- Translating critical business needs and opportunities creating competitive differentiation for impactful results across community bank via data & analytics COE --- Collaborating with a cross functional team of professionals to ensure integration with sales, marketing, operations, technology, and customer service; and to ensure products are launched in accordance with business needs and priorities. This leader will embrace the commitment to customer-focused products and services and will have input on how those products and services should be measured in terms of revenue targets and profit/loss forecasts. The ideal candidate is a strategic thinking yet process-oriented professional with superior skills at managing projects. This candidate possesses an inherent ability to see the big picture of the market evolution and connect to the customer of today and shepherd them into the future. Energetic and self-motivated, the ideal candidate is value-driven and has a mindset that understands the needs of both internal and external customers. The successful candidate must be comfortable operating in the well-developed, yet evolving culture of Flagstar Bank and skillful enough to function effectively as an agent of change. This position can be at our Regional HQ in Troy, MI or remote nationwide/

  • Strategy
    • Work closely with business leaders to understand business objectives.
    • Identify product opportunities and gaps for the organization, determine potential impact to financials, and inform multi-year product strategy and prioritization program.
    • Be a thought leader and impactful influence for business leadership
    • Aggressively learn industry dynamics and coach product team & partners in translating strategic vision
    • Develop, maintain and own product roadmap that balances
      • Strategic objectives
      • Capital investments
      • Differentiation in the marketplace
      • Customer experience
      • Compliance & risk
      • Sales & distribution needs
        • Product development & management
          • Ideate and develop compelling products for Flagstar's wholesale clients, including small business
          • Oversee product metrics, launches and product performance and ensure success against product goals and expectations.
          • Ensure continuous improvement in the product as well as ensure that product compliance meets market needs.
          • Keep abreast of industry - along with both traditional and non-traditional competition
          • Manage the product lifecycle from conception to launch, guiding product introduction through development, business case, and implementation.
          • Scope includes
            • Commercial lending
            • Community bank wholesale products, including Treasury & Payments
            • Small business products
              • Leadership, organizational alignment & talent management
                • Oversee a team of seasoned product managers
                • Develop trusted partnerships within the enterprise; coach team to develop impactful partnerships
                • Lead a matrix team, driving for outcomes adequately consulting and utilizing the partner groups like IT, HR, marketing, Audit, Risk etc
                • Solve problems with creativity; Have critical and open conversations to align organizational forces for creating sustainable competitive differentiation
                • Play a lead role in marketing products. Ensure proper training and education on product positioning and functionality. Ensure products resonate with customers through research and that product maintenance is continuous. Actively promote and support the product portfolio throughout the organization.
                • Align organization - HR, compliance, risk, IT, finance and other support groups - for collaborative impact
                • Develop people, manage talent and oversee training needs
                  • Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar's internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies.
                    Job Requirements:
                    • 10+ years of experience researching, designing, developing, and/or delivering new value-added products in B2B or B2C products; mortgage or wholesale banking financial industry
                    • 10+ years of experience developing and driving product strategy and portfolios
                    • HS Diploma, GED or Foreign Equivalent
                    • Bachelor's Degree Required (Business Administration, Economics, Marketing or related field)
                    • Master's Degree Preferred (Business Administration, Economics, Marketing or related field)
                    • In lieu of a Bachelor's Degree, 15+ years of domain experience will be considered
                    • Experience gathering and transforming customer and business needs into an actionable product roadmap that has driven business results
                    • Experience creating product artifacts, including market research summaries, competitive analyses, product comparisons, business cases, business and product requirements, business and product workflows, and customer journey maps
                    • Skilled at weaving together voice of customer, business strategy, and technology into a comprehensive product strategy (strategy, execution plan, metrics for success)
                    • Understanding of product compliance and banking regulations
                    • Experience with digital product development, including ability to work cross-functionally to drive delivery
                    • Skilled at creating fact-based business cases and recommendations in a clear, logical, and concise way; "tell a story" with data
                      Internal Use Only: Band C

Keywords: Flagstar Bank, Troy , Head of Wholesale Product Management, Executive , Troy, Michigan

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