Product Manager - Personal Deposit Accounts
Canandaigua National Bank
Location: Hybrid - in office days may vary
What does a Product Manager of Personal Deposit Accounts do?
Consistent with the company's strategic direction, a Product Manager of Personal Deposit Accounts is responsible for developing, managing, and optimizing the bank's consumer related deposit products, such as checking and savings accounts. This role involves translating customer needs and business goals into product roadmaps, managing the full product lifecycle, analyzing performance, and ensuring the products remain competitive.
You will be responsible for the implementation of associated products and features, creating strong synergy amongst cross functional teams, while complying with regulatory requirements and operating policies and procedures.
Key responsibilities
Product strategy and development: Develop product strategy, roadmaps, and new product initiatives to meet business objectives and customer needs.
Product lifecycle management: Manage all aspects of the consumer deposit product lifecycle, from conception to retirement, to maximize potential and profitability.
Financial analysis: Conduct financial modeling to determine the profit and loss impact of new products and enhancements.
Competitive analysis: Monitor product portfolio trends and conduct competitive analysis on product, pricing, and promotional structures.
Stakeholder collaboration: Work with key stakeholders across different departments (e.g., retail, technology, marketing, legal, operations) to drive product initiatives.
Performance monitoring: Track key performance metrics, analyze product performance, and report on results to support business strategies.
Compliance and risk management: Ensure products comply with all relevant regulations and support operational, financial, and model risk.
Essential Duties
Meets with stakeholders to define and develop customer, business, financial, technical, risk and operational goals and requirements.
Guide the planning, design, development, and deployment of new product and existing product enhancements that add value and enrich market opportunities.
Lead analysis of ROI "make/buy" decisions; manages external suppliers and partners related to product management function.
Collaborate with Marketing to maintain appropriate collateral specific to the product lines, as well as participate in development of effective advertising and marketing campaigns.
Prepares and delivers reports, recommendations, or alternatives that address existing and potential trouble areas within assigned product set.
Acts in the capacity as a functional contributor for launch activities and life-cycle program management
Collaborates with other areas of the business, including Audit, Retail, Finance, Information Technology, Project Management, Information Security, Compliance, Fraud, BSA/AML, and Corporate Risk for new product launches, enhancements and other support of existing products.
What is needed to be successful in this role?
A B.S. or B.A. degree in business administration, management, marketing, or other-related field required, or equivalent combination of education and work experience.
MBA preferred.
A minimum of five (5) years' experience in product management.
Strong knowledge of deposit products (e.g., checking, savings, CDs, money markets) and account opening processes.
Experience with modern product management methodologies and software product management.
Experience in consumer-facing product management.
Ability to perform financial modeling and quantitative analysis.
Strong understanding of the competitive landscape and market trends in banking.
Excellent communication and collaboration skills to work with cross-functional teams and executive management.
Knowledge of product delivery channel functionalities and digital transformation initiatives.
Experience in banking/financial services is preferred.
What makes working at Canandaigua National Bank different?
Our Core Values guide how we serve, lead, and grow alongside our community. By working wholeheartedly, feeling empowered, acting with courage, being authentic, and serving with a noble spirit, WE CAN fortify healthy lives by doing what's right for our customers and the community.
Our culture nurtures passionate employees and offers great rewards including:
Medical, dental, vision, FSA, HSA options for both part-time and full-time employees. Medical coverage is also offered for domestic partners.
Paid holidays, vacation, and sick time.
Retirement benefits that include a 401(k), Profit Sharing, and Employee Stock Ownership Plan (ESOP).
Training & development opportunities.
Tuition assistance.
Community focused volunteer opportunities.
Award winning wellness program that promotes a solid work/life balance.
Banking perks and discount programs.
Our goal is to ensure that our bank, employees, and our community thrive and grow, now and for the next 135 years. We're in it for the long haul. What truly sets us apart from other financial institutions is the quality and commitment of our employees. We've assembled a diverse team of people who share a primary focus: to provide exceptional service for our customers.
As an organization, we are committed to hiring, training, developing, promoting, and celebrating employees from historically disadvantaged groups. At Canandaigua National Bank, we welcome the unique contributions that you can bring in terms of ethnicity, race, sex, gender identity and expression, nation of origin, age, languages spoken, veteran's status, religion, disability, sexual orientation, education, and culture.
Canandaigua National Bank remains an independent, community bank. If you want to be a part of something special, join us today!
Canandaigua National Corporation and its subsidiaries encourage diversity in the workplace; we are an Equal Opportunity Employer. Minority/Female/Sexual Orientation/Gender Identity/Disability/Veteran.
Compensation range: $95,000 - $117,,500
The actual salary offered within the range is dependent on a variety of factors including, but not limited to, relevant experience, qualifications, skills, level offered, and performance expectations.
