The Treasury Management Product Director will lead the product team responsible for customer facing Treasury Management products – online/mobile, payments, receivables, account analysis, and referral partnerships. The Director is responsible for shaping the product strategy and roadmap, as well as the development, communication, and implementation of new products and product enhancements. This role is critical in setting the strategic direction of Treasury products following the overall strategy of the Bank. The Director will be held accountable for product revenue growth, profitability, and customer satisfaction and will work closely with Technology and Operations teams, Business Lines, Marketing, and key business stakeholders to deliver and maintain profitable solutions that meet the needs of our clients. This position requires a high level of strategic thinking, but also requires the ability to shift into the details to make informed decisions when required.

MAJOR RESPONSIBILITIES:

• Redesign and optimize product strategy, product roadmaps, and execution/delivery strategies for customer facing Treasury products leveraging insights, data, and customer needs and satisfaction
  • Perform market, competitive, and operating model analysis, drawing insight to support new product development, product enhancements, product sunsetting, and business line initiatives
  • Identify cost and revenue growth of new products and enhancements, including price recommendations
  • Identify risks and regulatory impacts associated with product decisions
  • Identify resources necessary to deliver and implement new products and enhancements
  • Continuously evaluate and assess strategy, performance, and customer satisfaction to improve execution, delivery, and product offerings or exit of products
  • Develop customer communication strategy – internal and external
  • Continuous involvement in industry events, advisory boards, and vendor trainings to further product knowledge and offerings
  • Ensure optimal customer satisfaction with product offerings
• Build deep relationships and partnerships across the organization to gain alignment on strategy, execution, delivery, support, and communication of products
  • Collaborate with Technology and Operations teams, Business Lines, Marketing, and key business stakeholders to develop, implement, and promote best-in-class Treasury products and online banking features and services
• Lead and develop a team of existing product managers
  • Coach and mentor product managers to develop product management skills and prepare the team for future career advancement opportunities
  • Define clear measurable goals to ensure the team is set up for success
  • Establish best practices to guide the team with key stakeholder collaboration o Establish team and individual meeting schedule
  • Develop product training sessions to train sales teams on new product offerings, product enhancements, and completing forms
  • Work with Human Design/User Experience team to translate requirements into concepts and a functional and intuitive user experience design for online banking
  • Partner with Digital Product to execute testing and validation of online banking features, functionality, and upgrades
• Monitor and track product usage and performance, as well as customer satisfaction
  • Regularly gather customer feedback to continuously shape and implement future products
  • Monitor product pricing and fees for opportunities to reduce costs and increase income
• Responsible for vendor management
  • Gather key stakeholders to review contract renewals and pricing negotiations
• Reporting and budgeting
  • Prepare monthly reporting of strategic initiatives
  • Prepare annual budget forecast for Treasury Management Product
  • Manage ACD allocations to Business Lines for customer product usage
  • Review monthly department expenses and income to ensure accuracy
• Annually, work with Business Lines to review current product pricing and recommended changes
  • Implement pricing changes through Account Analysis
• Other product responsibilities, as assigned include, but not limited to:
  • Audit reviews and document gathering
  • Presentations to support product development and implementation
  • Invoice review and payment
  • User Access Reviews

PROBLEM SOLVING & DECISION MAKING:

• The Director develops, owns, and executes on Treasury Management product strategy and related product vision.
• This individual will be responsible for the overall quality and delivery of new products, features, and designs for Treasury Management products, working closely with the Technology teams for online and mobile banking products.
• Candidate must be able to think strategically and drive results tactically.
• A key skill will be to merge the competing priorities and constraints across internal stakeholder teams into a thoughtful and detailed roadmap.
• Candidate will execute product strategy in line with the Organization’s overall strategy ensuring revenue growth, profitability, and customer satisfaction.

REQUIREMENTS:

• 10+ years of experience in Commercial, Business, or Treasury Management banking, product, or technology fields, or an equivalent combination of each
• A minimum of 10 years of Treasury Management product development, management, product design or combination of these requirements; 5 years of which can be in Treasury Management sales
• Extensive knowledge and experience with creating and managing product roadmaps
• Proven track record of executing, delivering, and implementing products that have a clear impact to the business
• Experience leading product teams with a proven ability to hire and grow talent
• Experience working with cross-functional teams and initiatives
• Deep experience leveraging data to make informed decisions, with a proven ability to set clear and measurable objectives
• Strategic mindset with strong analytical skills to bring complex and nuanced concepts into simple actionable tasks
• Successful track record in leading and collaborating with internal and external teams
• Ability to “sell” or gain buy-in from across the Organization

Education and Experience:

• A Bachelor’s degree in Marketing or Management, or equivalent combination of training and experience
• Certified Treasury Professional or Certified Cash Manager, preferred
• Product management experience

Skills/Knowledge:

• Metrics driven with a deep understanding of customer needs, as well as the market and competitive landscape
• Demonstrated ability to think innovatively with a passion for learning to keep abreast of the latest Treasury Management trends
• Deep attention to detail, strong technical skills, well-developed organizational skills, and ability to adapt quickly to change
• Ability to work in a fast paced, dynamic environment while working multiple projects at any given time
• Strong problem-solving skills with an exceptional ability to prioritize and willingness to roll up one’s sleeves to get the job done
• Excellent written and verbal communication skills, with the ability to influence decisions and reach across all levels of the Organization
• Experience with Bottomline Technologies DGBiQ online platform a plus

Working Conditions:

• May work remotely, but required to be on-site when necessary
• Position may require occasional evening or weekend hours during product upgrades or testing
• Occasional travel for industry events

Committed. Inclusive. Courageous. Eastern Bank has built a legacy of investing in the communities we serve and helping our customers, communities and employees thrive and grow. We pride ourselves in having knowledgeable and experienced professionals that can provide the expertise, personal attention and service our customers deserve.

As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us.