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Business Loan Product Manager more...
Location:Glen Allen, VA
Company:Atlantic Union Bank
First posted:February 08, 2021
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Position Description:

A Business Lending Product Manager is primarily responsible for developing strategy, design, and feature/functionality of various business loan products.  This individual is a key stakeholder in the implementation of new strategies.  The product manager will assist in driving profitable production and portfolio growth through collaborative partnerships with key stakeholders. The product manager will ensure product features, pricing, and end-to-end execution align with the various products' strategy.

Position Responsibilities:

  • Accountable for meeting product profitability targets and growth goals.
  • Responsible for developing growth strategies for assigned products and segments and acts as a key stakeholder in setting annual goals.
  • Drives and recommends pricing for various products in conjunction with finance.
  • Evaluates new product opportunities. Develops product designs, feature/functionality, and pricing.
  • Optimizes product feature functionality of existing products to improve production and support portfolio growth
  • Analyzes internal and external data to understand current and emerging trends in the market. Create strategies to leverage these trends.
  • Partner with marketing and other teams to develop impactful campaigns and lending sales initiatives that improve loan production, enhance balance growth and profitability, and aligns with the corporate strategic objectives.
  • Monitor and analyze market conditions, customer preferences and competitor products/strategies to ensure Atlantic Union's product suite is aligned with providing customers with effective value propositions. Make recommended changes to product offerings, as needed.
  • Monitor and evaluate regulatory/legal changes which may affect products, services or fees.
  • Partner with internal departments to ensure regulatory compliance in advertising/marketing, application disclosures and servicing. Leads teams to implement new compliance requirements as required.
  • Drives the development of training/sales tools for various channels and teammates. Promotes and spreads lending knowledge across the enterprise.
  • Works in partnership with risk partners to optimize product credit policies that lead to sustained loan growth.
  • Partner with Loan Operations team to ensure practices/processes have a positive impact on the customer experience.
  • Perform other duties as required to support the sales and growth of consumer lending products.
  • Analyze and identify key metrics and trends that impact product profitability and balance growth.
  • Compare portfolio characteristics and performance to historic and predicted benchmarks.

Organizational Relationship:

This position reports to the Director of Consumer Lending.

Position Qualifications:

Education & Experience

  • BA/BS degree in Business, Finance, or equivalent discipline or equivalent work experience
  • 5+ years Banking/Financial Services product management experience
  • Strong Background in Lending products and services
  • Solid understanding of the impact regulatory changes has on lending products
  • Some knowledge of credit underwriting and credit risk management preferred
  • Ability to communicate effectively to internal key stakeholders
  • Vendor Management experience preferred
  • Project Management experience preferred

Knowledge & Skills

  • Strong analytical skills and ability to analyze large amounts of data
  • Knowledge of bank compliance required
  • Proficiency in Microsoft Office (Excel, Word, PowerPoint) required
  • Strong written, verbal and interpersonal communication skills

We are proud to be an EEO/AA /Minority/Female/Disability/Veteran employer. We maintain a drug-free workplace.

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