PRODUCT MANAGER SENIOR

WHAT IS THE OPPORTUNITY?

The Product Manager (“PM”)”) for Commercial Lending is responsible to manage all Commercial Lending products (Commercial Term Loans, Commercial Revolving Lines) including the successful implementation of third-party portals and applications. The Commercial Lending PM seeks, defines, introduces, promotes, and monitors products, services and functionalities that develop new client relationships, enhance existing relationships, and maximize returns. Core responsibilities include product strategy, product development, product management, product pricing, product positioning and product promotion, as well as compliance/risk management, vendor management, and product financials management. 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 technical advisor on matters concerning the designated product and/or product line.

What you will do

• Commercial Term Loans and Commercial Revolving Lines subject matter expert to internal colleagues and to clients as needed.

• Manage product cost and product profitability through a disciplined analysis and evaluation process, which includes regular reporting and meetings with Business Unit Managers, Operations Managers, and other stakeholders as appropriate.

• Identify, evaluate, and implement opportunities/needs for product enhancement and development. These opportunities may be identified through: regular market and competitor analysis performed by the product group; solutions developed as the result of client needs; suggestions from the line, Product Risk Committee (PRC) or other departments that meet a specific bank initiative or new client niche.

• Prepares reports and analyses on assigned products/product lines and presents to Bank Management on a regular basis. Focus of reports/analyses may be market or competitive issues, special 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.

• Develops materials on product features, benefits, requirements, pricing, and services, and prepares and executes training seminars as needed. (Includes Marketing One-Sheets and sales training.)

• Review product pricing on an annual basis for all assigned products. Make recommendations and implement including disclosure, training, and colleague communication.

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

• Recommends and implements programs to minimize costs, ensure optimum output and maintain quality. Advises on the solution of technical problems, priorities, and methods.

• Participates in product evaluation; provides recommendations for changes and revisions as required.

• Serves as product expert for a variety of issues – advice/guidance on sales, “How to position and sell product”, operational support for technical product issues, etc.

• Manage Product Management portion of acquisition conversions -- product mapping; product analysis/comparisons, “Welcome to CNB” package support, etc.

• Represents the Bank by actively participating in outside civic and community affairs, business and industry-related organizations, and other professional activities as appropriate.

• Fosters and maintains good relationships with colleagues to ensure that processes are integrated to support expected customer service levels. Acts as business partner by managing expectations and providing guidance and advice regarding assigned product.

• Maintains a current awareness and understanding of appropriate banking laws, regulations, internal policies, and procedures, and to comply fully with those laws, regulations, policies, and procedures.

• Responsible and accountable for appropriate quality controls related to the financial products the bank provides, the services the bank delivers, the processes employed and the incentives with which colleagues are awarded.

• All City National products, financial solutions and services are to be provided ethically and with integrity in a manner that is consistent with the client-first culture and values embodied in City National’s PRIDE statement.

Must-Have*

• Minimum 5 years of banking experience required.

• Minimum 2 years of supervisory/managerial experience

• Minimum 10 years of product management, marketing, marketing research or strategic planning and/or project management experience required.

• Minimum 10 years of experience managing medium to large projects required.

Skills and Knowledge

• Bachelor's Degree or equivalent experience.

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

• Strong leadership and negotiation skills.

• Extensive industry/business knowledge.

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

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

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

• Established knowledge of Commercial Term Loans and Commercial Revolving Lines.

Compensation

Starting base salary: $111,408 - $189,738 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

*To be considered for this position you must meet at least these basic qualifications

The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

Benefits and Perks

At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks (https://image.emails.cnb.com/lib/fe5e15707c640c78771c/m/10/cbedd856-c2fc-491b-a625-3ab7a0fd9a65.pdf) .

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT

City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'

ABOUT CITY NATIONAL

We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.

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