Director Product Management Wealth & Private Banking
The Director of Product Management leads a team of diverse colleagues to manage the credit and lending suite of products used by Comerica's Wealth Management customers. The team manages and develops existing and new products, the wealth management product catalog, product standardization, and governance. The central purpose of the team is to ensure that all elements and features of the wealth management product offering within the market segment, and portfolio are transparent, trackable, optimized, and executed seamlessly under a unified product strategy. The Director Product Management's main function will be to assess current product portfolio within a product set and market segment, identify gaps and risk, customer use cases, define key needs, develop revenue forecasts. The position will collaborate with National Director of Products to align products with Sales, Credit, Technology, and other cross functional partners to create the strategic roadmap and execute.
Position Responsibilities:
Wealth Management Product Strategy
- Ownership for building the business case and setting the platform agenda for wealth management products in collaboration with partners.
- Drives engagement of stakeholder teams to properly assess and plan for the needs of customer-facing teams and functional partners to ensure optimal product delivery.
- Drives a compelling product and platform vision for Comerica that allows for speed to market of new capabilities and differentiated customer experiences alongside business value.
- Champions the voice of the customer into business priorities, strategies, and roadmaps by soliciting customer feedback and analyzing customer complaints.
- Builds materials, presentations, and documentation to support the divisions partnership with Corporate Treasury and Asset Liability Committee.
- Responsible for developing loan pricing strategy on products used within specific market segments and specialty business lines of business.
- Participates in industry and customer forums to understand and anticipates market trends and innovation needs.
Wealth Management Product Development & Execution
- Drives a culture of end-to-end product management inclusive of managing credit, cyber, operational, and regulatory risks.
- Responsible for development and management of all existing and new wealth management products ensuring that all elements and features of the wealth management products offering and portfolio are transparent, trackable, optimized, and executed seamlessly.
- Influences executives and senior stakeholders to successfully deliver by navigating between big ideas and execution realities; lead by example with data informed decision making.
- Establish practices and procedures to measure and reduce operational complexity of lending transactions and ensure documentation meets standards.
- Continuously cultivates an agile culture: deliver value incrementally focusing on minimum viable product and championing a culture of fail-fast.
Program Management
- Serves on various committees, programs, and bank wide projects focused on improving efficiencies, transparency, technology, and risk management.
- Partner with senior leadership to make recommendations on project selection and prioritization aligned with the Wealth Management Division strategy.
- Lead complex, visible & large budget projects or program at a divisional or corporate level to a successful completion.
- Consult on complex corporate initiatives to ensure business needs, ideas and perspectives are shared and incorporated.
Talent Leadership & Development
- Motivates teams and develops staff building a culture of the Bigger Possible.
- Attracts and retains talent that can execute on current solutions while re-imagining an increasingly digital and real time future.
- Grows others, fosters an inclusive environment, inspires, and encourages continuous learning at all levels of the organization.
- Develop talent and identify and sponsor talent for opportunities for mobility and development; institute a sharpened focus on diversity ensuring acute attention to succession planning, talent pipelines, and connection into Comerica Diversity initiatives.
Position Qualifications:
- Bachelors degree from an accredited university
- 8 years Wealth management lending, credit risk, lending products, commercial finance, lending operations, product management, or a combination thereof
Work Best Category: Category B - 3-4 days in office on designated days/1-2 days remote
Hours: 8:00am - 5:00pm Monday - Friday
Salary: To Be Determined Based on Individual Experience
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