Product Development Manager

Administration
160 W Wesmark Blvd
Sumter, SC 29150, USA

Oversees the process of developing and enhancing new and existing products. Responsible for the research, recommendation, and development of deposit and lending products. Responsible for tracking performance of new products and making data‑driven recommendations to improve member experience, revenue streams, and operational efficiency. Collaborates with business unit owners to uncover new product opportunities and existing product enhancements.

• Meet established goals and objectives for product implementation and performance.
• Attain various key performance indicators (KPI) to include new member acquisition ratios, new and existing product penetration, product profitability, and penetration of core services.
• Develop new products and enhance existing products for both deposit and lending services; may recommend removal of existing products when warranted.
• Work closely with business unit owners to successfully implement projects relating to new products and services; act as project lead when necessary.
• Review ongoing deposit and lending product profitability and make recommendations to improve profitability through increased revenue or expense reduction.
• Develop an understanding of member product needs by conducting industry research, data analysis, member surveys, and other tests as necessary.
• Propose new features and products for approval by executive and senior management, considering all outcomes impacting members, employees, and the financial performance of the Credit Union.
• Collaborate with employees across the organization to understand product needs and include this information in the analysis of new product development.
• Monitor existing product penetration and performance to uncover opportunities to enhance or eliminate existing services.
• Periodically visit branches and call centers, meeting with managers to gain an understanding of member needs and gaps within the current product suite.
• Monitor the performance of new products and services and provide updates on expected outcomes, key performance indicators, member experience, and financial impact.
• Work closely with IT, Marketing, Compliance, Training, and other member‑impacting departments to ensure new products deliver expected outcomes.
• Work closely with the member experience team to develop, implement, and monitor a successful member relationship program.
• Maintain strong knowledge of new and emerging technologies, member behavior trends, industry trends, and peer/competitor offerings.
• Other duties as assigned.

No supervisory responsibilities for this position.

Research, recommend, and develop new and existing products for both deposits and lending. Provide management with data‑driven recommendations considering the impact on members, staff, and the organization. Assist with implementation of new products and services and work with key stakeholders to achieve expected outcomes of new products and services, post‑implementation.

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

Regulatory Requirements:
Position has specific procedures that must be followed to comply with the Privacy Act, Office of Foreign Assets Control (OFAC), and Bank Secrecy/Patriot Act. Annual training will be provided and non‑compliance may lead to termination and potential monetary penalties.

Education and/or

Experience:

High school diploma or GED required. Bachelor’s degree in Business or a related field preferred. Three years minimum related experience and/or training; or equivalent combination of education and experience.

Language

Skills:

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals.…