Director of Bank Products
Ford Motor Company
full-time
Posted on:
Location Type: Hybrid
Location: Salt Lake City • Utah • United States
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Job Level
About the role
- Define and articulate a compelling product vision and strategy that supports the bank's long-term goals, customer needs, and competitive positioning.
- Lead ongoing market research, competitive analysis, and customer segmentation studies to identify new product opportunities, assess market trends, and understand evolving customer behaviors.
- Oversee the entire product lifecycle, from ideation and concept development through design, launch, performance monitoring, enhancement and eventual retirement.
- Drive the development of innovative and competitive banking products (e.g., deposit accounts, lending products, digital solutions) by collaborating closely with cross-functional teams including IT, Operations, Marketing, Legal, Compliance, and Risk Management.
- Develop robust business cases for new product initiatives, including financial projections, risk assessments, and resource requirements, ensuring alignment with the bank's profitability targets and risk appetite.
- Ensure all product offerings and development processes adhere to relevant banking regulations, internal policies, and risk management frameworks.
- Establish key performance indicators (KPIs) for all products, regularly monitor performance, analyze results, and recommend strategies for optimization, growth, and profitability.
- Collaborate with Marketing and Sales teams to develop effective go-to-market strategies, launch plans, and communication materials for new and enhanced products.
- Guarantee that all product development and management activities are fully consistent with and contribute to the bank's approved business plan and strategic objectives.
- Lead the annual process for developing and updating the bank's comprehensive three-year strategic plan, ensuring a structured, data driven, and collaborative approach.
- Conduct thorough internal and external environmental scans, including macroeconomic trends, industry shifts, technological advancements, regulatory changes, and competitive landscape analysis, to inform strategic direction.
- Facilitate the definition of clear, measurable, achievable, relevant, and time-bound strategic objectives and key performance indicators (KPIs) that cascade across the organization.
- Partner with senior leaders across all business units (e.g., Retail, Commercial,, Operations, IT, Finance) to gather input, align on priorities, and integrate departmental strategies into the overall bank plan.
- Develop comprehensive strategic plan documents, presentations, and supporting materials that clearly articulate the bank's vision, mission, strategic pillars, objectives, initiatives, and expected outcomes.
- Present the strategic plan to the bank's senior leadership team, facilitate discussions, incorporate feedback, and secure their endorsement prior to Board submission.
- Confidently present the strategic plan to the Bank's Board of Directors, effectively communicating the strategic rationale, financial implications, and execution roadmap to gain their formal review and approval.
- Establish and manage a robust framework for monitoring the execution progress of the strategic plan, regularly reporting on key milestones, performance against KPIs, and any necessary adjustments to senior leadership and the Board.
- Interface with the Bank’s regulators including the FDIC and Utah Department of Financial Institutions, take the lead on product and strategy related exam questions and responses.
- Travel approximately 20% of the time
Requirements
- Bachelor’s degree from an accredited four-year college or university in business administration, finance or related field required, advanced degree in business or related field is ideal
- 10+ years in Bank strategy required
- 10+ years of management experience
- Leadership: Proven track record of leading and developing high-performing teams, fostering collaboration, and influencing stakeholders at all levels of an organization, including executive leadership and Board members.
- Strategic Thinking: Exceptional analytical and strategic thinking capabilities, with the ability to synthesize complex information, identify critical issues, and develop innovative solutions.
- Industry Knowledge: Deep understanding of banking products, services, market dynamics, competitive landscape, and regulatory environment.
- Project Management: Strong project management skills, with the ability to manage multiple initiatives concurrently and drive them to successful completion
- Strong written, verbal, presentation, and organization skills
- High emotional intelligence with proven ability to motivate, mentor and coach others
- Effectively and self-sufficiently solves problems with effective results
Benefits
- Immediate medical, dental, vision and prescription drug coverage
- Flexible family care days, paid parental leave, new parent ramp-up programs, subsidized back-up child care and more
- Family building benefits including adoption and surrogacy expense reimbursement, fertility treatments, and more
- Vehicle discount program for employees and family members and management leases
- Tuition assistance
- Established and active employee resource groups
- Paid time off for individual and team community service
- A generous schedule of paid holidays, including the week between Christmas and New Year’s Day
- Paid time off and the option to purchase additional vacation time
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard Skills & Tools
product lifecycle managementmarket researchcompetitive analysisfinancial projectionsrisk assessmentskey performance indicators (KPIs)strategic planningproject managementdata analysisbusiness case development
Soft Skills
leadershipstrategic thinkingcollaborationcommunicationproblem-solvingemotional intelligencementoringcoachingorganizational skillsinfluencing stakeholders