VP, Product (Banking)

First Entertainment Credit Union is looking for a VP, Product (Banking) to join its dynamic and growing team. The VP, Product will identify market opportunities that drive financial growth for the company, and be responsible for translating our members’ needs or market trends into an actionable and measurable product strategy and roadmap. The ideal candidate will be responsible for a wide range of products and services and lead a strategic role in identifying macro-trends in product development and member needs. The VP, Product is someone who is highly analytical and uses data to make informed decisions.

The individual will Influence future business strategy at the senior leadership level and has prior proven success in driving product strategy and product rollouts in a comparable environment. As the VP, Product, you will work collaboratively with cross-functional teams to develop and implement product features and go-to-market plans to support the company’s business objectives and retail strategy.

This is a full-time, hybrid opportunity reporting to the SVP & Chief Experience Officer and is based in Hollywood, CA. The target starting pay in California is between $185,000 and $225,000.

Responsibilities

· Oversee management of a wide range of product lines, such as deposits, consumer loans, mortgage loans, credit cards as well and their respective business teams.

· Leverage expertise and financial knowledge, such as P&L, Proforma, to analyze our product line and make educated recommendations on product features and enhancements.

· Own the entirety of portfolio management and pricing with a focus on ongoing profitability regardless of the economic conditions. 

· Conduct market research and analysis to identify trends and opportunities in the financial space and make educated decisions or recommendations for product development and marketing strategies.

· Be accountable for product development, launch, execution of the go-to-market strategies, and member success as measured by realized business outcomes.

· Understand our members’ pain points and needs and use data-driven methods to make informed product decisions or recommendations.

· Use data and trends to make educated decisions on existing products and services, such as pricing, product decommissioning, timing and so on.

· Establish a shared product vision across the company by influencing and building consensus across functions, and other key stakeholders.

· Collaborate with key players across the organization, communicate product vision and requirements and serve as an advocate and resource for new products and services.

· Develop, implement and continuously refine best practices, continuing education to improve product lifecycle management efficiency and effectiveness.

· Manage employee life cycle, including recruiting, learning & development, feedback and coaching, as well as personnel decisions.

· Responsible for optimizing revenue streams, driving customer acquisition, and maximizing members lifetime value.

· Perform other duties or projects as assigned.

At First Entertainment, your role and every role are essential to our Mission [We build lifelong financial relationships with the people in entertainment based on a deep understanding of how they live and work], Core Values [ Members First + Ownership + Integrity + Innovation + Inclusivity + One Team], and we expect you to uphold them.

Requirements

· A 4-year college degree from an accredited college with a major in marketing, business or similar is preferred. An MBA degree A plus.

· A commendable business acumen and the ability to communicate to stakeholders and audience of all levels.

· Demonstrated track record of managing and launching successful products in a similar space or industry.

· A minimum of 7 years of work-related experience in a full-service financial institution or experience in a related position in a related field. Prefer at least 5 years managerial experience.

· 7+ years of relevant and progressive experience in strategy, business development, or product.

· In-depth knowledge of Credit Union products and services, procedures and guidelines, and field of membership requirements is a must.

· Exceptional leadership skills and the ability to manage teams in various work arrangements.

· Thorough knowledge of regulations applicable to essential responsibilities.

· Effective communication skills across all levels of audience.