Director Retail Product Management
The Director Retail Product Management role will be responsible for strategically guiding and managing the Retail Product Management department, which includes the responsibility for product development, project management, pricing discipline, strategic partnerships and risk management; while maintaining a focus on bottom line revenue. The role will include Corporate Deposits, Consumer & Small Business Loans, and Payment products. Position Competencies
Successful incumbents are customer focused, drive for results, executive savvy/influence management, have decision quality and the ability to problem solve, will need strategic agility, managerial courage, presentation skills/public speaking, relationship building and risk astute. Position Responsibilities
- Drive strategy to enable capabilities in support of business scope and customer need.
- Develop, implement, and manage all retail and small business banking products.
- Ensure nationally, all products are marketable, competitive, and profitable.
- Oversee the development and implementation of new product concepts, the enhancement of existing products for consumer and small business.
- Oversee and direct the work of product managers, ensuring that individual products are integrated into an effective group of products, for which pricing is appropriate and corporately aligned, product activation rates are acceptable, and profitability is appropriate.
- Annual P&L responsibility for $24B deposit portfolio, $2B loan portfolio, and $115 - 185MM in non-interest income.
- Corporate-wide deposit interest rate and exception pricing responsibility for $57B portfolio.
- Partner with third party vendors, negotiating service expectations and pricing, third party risk assessment and ensuring the effective delivery of products through the vendors.
- Manage the risk in delivery, ensure compliance with all regulatory and corporate requirements; and monitor for expected execution.
- Drive accountability that addresses and reduces inherent risk before implementation of initiatives. Including, but are not limited to, product, process and sales strategy initiatives.
- Ensure proper execution of bank policies and procedures to avoid unacceptable regulatory, reputational and financial exposure.
- Monitor and ensure proper controls are in place to identify and mitigate operational risks that may lead to unacceptable regulatory, reputational or financial exposure. This includes proper vendor management, technology and information life cycle management and broad execution within Retail Bank operations.
- Exercise the usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, and terminations.
- Ensure a diverse composition of product teams, task forces, committees and project teams that create solutions and resolutions.
- Ensure documented process to govern the operations of product management.
- Oversee the coordination of operations required for efficient delivery of the products.
- Oversee the appropriate alignment of Comerica's products and its distribution channels.
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