Product Manager recruitment
Reporting to the Head of Pooling Product Management, the European Product Manager for Asset Pooling will be responsible for the on-going development and management on Northern Trust’s industry leading Asset Pooling Product in Europe.
Working as part of the Asset Pooling Product Team, this role will be responsible for the further development of the Asset Pooling Product. The duties will include a multitude of tasks including the identification and definition of new product needs, project management of key product deliverables, working with existing clients to define and implement their new product requirements, the support NT sales staff in the sales effort for new business opportunities.
1. Product Management
A. Partner with the other Product managers to ensure consistent product features globally (where applicable), recognition of special features required to meet the needs of pooling, and appropriate prioritization of development. Participate in regular meetings with Global Product managers.
B. Identify pooling product gaps in European markets and prioritize development projects to meet client requirements and emerging market trends.
C. Create business case to justify development of significant new local capabilities. Gain senior management approval for capital and resource requirements.
D. Assist Sales in developing appropriate pricing models
E. Monitor product revenue, profit and market share in local markets
F. Identify risks and risk mitigation. Work with WWOT and Product Development to ensure risk mitigation is built into the product. Ensure Product Risk and Management are informed about the risks and comfortable with them.
G. Represent the pooling product with industry contacts, industry forums and journalists as required.
H. Conduct periodic reviews of local product performance and lessons learned. Develop quantitative measures.
2. Client Implementation
A. Work with RMs and pooling implementation specialists to ensure that product-related issues are quickly identified and appropriately prioritized. Meet with clients as needed to gather requirements and communicate progress.
B. Manage client expectations for existing functionality and rollout of new capabilities. Work with tax and legal specialists to address client-specific tax and legal issues related to pooling as they arise.
C. Create client-ready documentation explaining product features, including legal and tax documentation requirements.
D. Agree product plans with pooling implementation specialists. Assist in resolving client-specific issues as needed. Assist in establishing best practices for implementation.
E. Assist client with internal trustee education and training as required.
3. Industry Research
A. Identify client requirements and emerging local market trends. Communicate throughout the organization.
B. Track competitor product strategies and capabilities in local markets
C. Assist Sales in identifying promising target prospect lists
D. Work with internal research staff or external consultants as needed to gain local market information
E. Identify regulatory changes and document development efforts required to meet requirements or identify resource to document.
4. Product Development
A. Partner with Product Developer(s) to ensure successful execution to fill gaps
B. Identify all the experts (securities operations, accounting, legal, tax, credit, etc.) required to support the product. Assemble the team and ensure deliverables are met.
C. Identify and clearly document capability gaps to create robust product
D. Identify and clearly document capability gaps to meet commitments to individual clients.
E. Identify and document existing systems/operations in other locations that will need to be duplicated locally.
F. Create high-level business requirements or identify product developer or other resource to create business requirements
G. Work with product developer to gain agreement from Systems on Systems leader, deliverables, and project timetable.
H. Work with product developer to gain agreement from Operations on Operations leader, deliverables, and project timetable.
5. Internal Communication
A. Act as a consultant to local RMs, Sales, and Process Teams with regard to understanding product capabilities, market trends, client requirements and development priorities.
B. Develop internal communication on current capabilities and planned development to assist in sales planning
C. Organize, co-ordinate and hold internal knowledge shares including training of all client facing staff.
D. Keep Steering Committee and Senior Management updated on all aspects of the implementation.
6. New Business Development
A. Review new business opportunities with business leaders to ensure we are targeting the right client segments and prioritizing opportunities appropriately.
B. Attend and present at prospect meetings or conferences as requested by Sales, Relationship Management, clients, or Client Servicing Team.
C. Analyze how new prospect requirements differ from previously implemented clients. Support the sales efforts by working on open issues and assisting with responses to prospects (i.e., RFP’s), with regard to existing capabilities.
D. Determine product positioning and key market messages for local markets.
E. Partner with CIS Marketing to develop marketing materials and PR for local markets.
F. Support the sales efforts by working on open issues and assisting with responses to prospects (i.e., RFP’s), with regard to existing pooling capabilities.
G. Educate prospects on the pooling implementation process. Define the resources and project management focus required within the prospect organization for successful implementation.
H. Work with internal partners to produce economic models and perform other detailed research as required by prospects.