CIT Group Inc.

Product Manager

US-CA-Santa Monica
Job ID
25265
# Positions
1
Job Family
Operations - Project Management
Type
Full-Time

Overview

Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across a wide variety of industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.

Responsibilities

The Product Manager – Branch Banking will focus on market-friendly, competitive, profitable products and delivery systems to meet the financial needs of individual and small business customers who establish their OneWest/CIT relationships through our Southern California branch network. The successful candidate will demonstrate the ability to develop and execute short and long-term product plans that align with business goals. In addition the Product Manager will also utilize product and customer segment analytics working closely with other bank and outside resources to establish and ensure on-going flow of requisite data and information about market trends, preferences and habits. The position works closely with the Director of Retail Consumer, Brand and Product to develop product enhancements, new products and product marketing plans, with the Marketing Managers to deliver the programs and campaigns that successfully achieve the overall product goals, with Branch Management to ensure products that can be supported and with other leaders from Branch Analytics, DPC/Treasury, Finance, BankonCIT, Mortgage and CIT to ensure well-crafted, integrated marketing efforts that achieve Branch Banking business goals while supporting the larger Consumer Banking and OneWest brands.

Responsibilities:

• Responsible for product development and management for OneWest Bank’s Retail Banking Division
• Develop new products from strategy to inception and new distribution features and capabilities to reflect changing consumer behaviors
• Utilize analysis and modeling that translates data into actionable insights
• Develop expertise with the PriceTek system
• Responsible for ongoing analysis of and reporting on product profitability, financial analysis of product costs, ROI and projections of expected outcomes in account numbers, dollars, relationship numbers and relationship quality
• Recommend pricing changes through a framework of regular pricing review and market-sensitive recommendations
• Work closely with support organizations and distribution channel management to deliver products and related programs along with appropriate operations and procedures, ensuring alignment with bank capabilities and enhancing the customer experience as much as possible to deliver on the One Person at a Time brand
• Stays abreast of trends in financial services and in the marketplace that influence product design, manufacturing and distribution, including market/customer research, and provides insight to team members of those trends
• Work closely with Marketing Manager to develop marketing programs to increase sales in the product line and to launch new products
• Represent feedback through voice of customer programs working closely with Operations
• Build the Relationship Growth (onboarding) System and take responsibility for its ongoing maintenance
• Coordinate and/or assist with training the branches on new products and product enhancements
• Project management
• Act as chief promoter on behalf of products, including creating programs to train and motivate distribution channel staff to ensure sales of products

 

Qualifications

• A minimum of a Bachelor’s Degree in Marketing, Advertising, Communications, Business, or other closely related field
• Financial services industry background strongly preferred
• At minimum 3-5 years of experience in product management and/or retail sales development
• Strong analytical skills, emphasis on finance capabilities preferred
• Exceptional communication/interpersonal skills, data driven thinking, analytical and articulate
• Possess direct team leadership and engagement/project management experience
• Experience working in a collaborative work environment
• Solid system skills including MS Office, Excel, Word, Visio, and PowerPoint
• Ability to excel in a fast-paced changing environment

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