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Product Manager

OVERVIEW:
Assumes responsibility for managing, developing, and executing a total product strategy for highly visible mass market mortgage products, non-QM/Prime, non-conforming, various channel deliveries as the key liaison with internal business partners, and is directly responsible for product guidelines. As part of the Product Development Team will maintain an in-depth knowledge of products, understand current industry trends and issues as they relate to designated product lines. This position manages current product guidelines to identify strengths, weaknesses and market trends thereby assisting the SVP with credit risk mitigation to and optimization of the sold loan portfolio. Leads all aspects of designing, developing, and introducing product/programs, crossing departmental boundaries. Is responsible for updating product guidelines, drafting new and proposed guidelines/products, and ensuring published guidelines are accurate and reflective of First Colony Mortgage’s risk appetite.

DUTIES AND RESPONSIBILITIES:
  • Develops and submits strategy plans to SVP for implementation and roll out of new and enhanced products/features
  • Effectively communicates and supports independent credit viewpoints to senior management, national underwriting, legal, compliance and both internal and external stakeholders across divisions on respective credit policy issues pertaining to sold loan risk. Interprets and enforces product guidelines across divisions, channels, departments, internal and external customers.
  • Leadership role coordinating all functions and processes required to roll out products/programs including design & development, messaging/positioning, education, and marketing planning effectiveness
  • Product management responsibilities across product life cycle stages: idea generation, feasibility analysis, design, development, build, marketing, validation, sustainability, and retirement
  • Directly supervise and mentor other members of the non-QM/Prime, non-conforming Product Development and Credit Policy team
  • Maintain product backlog (backlog Identification, ownership, grooming, prioritization)
  • Evaluates, analyzes new product performance to assess effectiveness of product/programs introduced
  • Manages initiatives with business partners and stakeholders to ensure effective lending practices that satisfy credit administration, risk management, legal and regulatory compliance requirements
  • Creates, publishes, and maintains credit policy and product guidelines, product exhibits, matrices, and supporting credit information
  • Facilitates credit committee engagements as needed
  • Utilize research studies to shape products and servicing offerings, evaluate potential product opportunities, and recommend the development of new policies and guidelines or modification of existing policy, procedures, programs, or products
  • Partners with the line of business to develop comprehensive interactive/illustrative guideline analysis and comparisons with identified peers
  • Provides oversight for line of business procedures, scorecards, information technology, marketing and other processes
  • Commands regular meetings with line of business, stakeholders, and credit centers to discuss and examine new or revised product guideline updates, as well as emerging risks and opportunities

REQUIRED COMPETENCIES
  • Bachelor’s degree in marketing, finance, general business, economics, or technology (preferred)
  • 3+ years of progressive non-QM/Prime, non-conforming-mortgage lending experience with emphasis in underwriting, product, or credit policy
  • Minimum of 2 years in leadership, supervising/team management with experience in planning, project management, and cross-functional management.
  • Successful record of managing initiatives with corporate-wide processes or large-scale impact
  • Excellent verbal, written communication and presentation skills including ability to deal with conflict and interact with all levels of the organization
  • Demonstrated ability to influence and negotiate with individuals outside of span of control
  • Excellent listening skills with ability to provide clarity and comprehension regarding business concerns
  • General knowledge of pricing strategies and tactics
  • Strong analytical and financial skills
  • Ability to multi-task and be flexible
  • Self-starter with the ability to organize, prioritize and control job responsibilities
  • Organized thinker with collaborative working style
  • Strong knowledge of mortgage loan documentation, underwriting, and operational processes and procedures
  • Ability to build and maintain strong working relationships with key stakeholders
  • Excellent skills in Microsoft Word, Excel and PowerPoint required