Principal Product Owner

$103,000 - $174,200/Yr

Discover Financial Services - Deerfield, IL

Full-time - Senior

Remote - Deerfield, IL

Credit Intermediation and Related Activities

About the position

At Discover, be part of a culture where diversity, teamwork, and collaboration reign. Join a company that is just as employee-focused as it is on its customers and is consistently awarded for both. We're all about people, and our employees are why Discover is a great place to work. Be the reason we help millions of consumers build a brighter financial future and achieve yours along the way with a rewarding career. The Product Professional is responsible for partnering with stakeholders to define the product vision at the team level while prioritizing "what" the team is working on to deliver value to the customer. This role involves assessing the performance of and shaping the structure and direction of new/existing product lines and developing or assisting in developing and executing strategic product plans. The Product Professional assists the team in achieving specific goals for each product, including evaluating product performance and identifying innovations to deliver business value and address customer needs to improve the product's performance. The position requires providing seamless, secure, and rewarding transaction-driven experiences wherever cardmembers expect, facilitating journeys that increase cardmember usage through ease and ubiquity, and increasing cardmember trust and loyalty by providing clarity and control of transaction activity. The Product Professional actively manages and escalates risk and customer-impacting issues within the day-to-day role to management.

Responsibilities

• Builds product backlog, prioritizes its items to achieve Objectives and Key Results (OKRs) and continuously keeps it up to date.
• Holds meetings with the product team to continuously update product backlog.
• Ensures product features and processes align with applicable Discover compliance and risk management standards.
• Ensures product adheres to the highest quality standards, including releasing security patches not linked to customers.
• Participates in the development of Key Performance Indicators (KPIs) and Objectives and Key Results (OKRs) for the product team and ensures alignment with senior leadership.
• Creates and/or maintains key product documentation (e.g., customer journey map, technical specs, process mapping, etc.).
• Identifies and defines key non-functional requirements (e.g., security, availability, performance, etc.) to achieve necessary product metrics.
• Defines and executes strategic product roadmaps to build new products, enhance existing products, or improve performance.
• Interacts and collaborates with stakeholders on key product considerations and aligns with product vision, features, and roadmap.
• Leverages customer insights, feedback, financials, compliance, and risk data to define product features and roadmap in partnership with other SMEs.
• Contributes to defining the Minimum Viable Product (MVP) and is responsible for delivering MVP/features/user stories for delivery product roadmap.
• Defines functional and non-functional product requirements; ensures completeness; integral and consistent; source of requirements for product team.
• Creates and validates user story acceptance criteria.
• Defines and ensures appropriate testing frameworks for product features (e.g., market testing, functional performance, etc.).
• Works with Data stewards in their respective LOBs to ensure required Data quality controls are identified and implemented.
• Inspects and evaluates product progress through each iteration.
• Partners with business technology to create technical features that are required to continuously optimize system components and underline infrastructure maintenance.
• Identifies sources, monitors, analyzes (Business Analysis), tests, and interprets key product performance metrics including financials, network volumes, other key statistics, and internal/external customer feedback trends.
• Collaborates with cross-functional teams to develop and execute go-to-market strategies.
• Builds a culture of accountability and ownership by empowering the product team to make decisions as close to the work as possible.

Requirements

• Experience in product management or a related field.
• Strong understanding of product development processes and methodologies.
• Ability to analyze and interpret data to inform product decisions.
• Excellent communication and collaboration skills to work with cross-functional teams.
• Proven ability to prioritize tasks and manage multiple projects simultaneously.
• Experience in defining and measuring KPIs and OKRs for product performance.

Nice-to-haves

• Experience with Agile methodologies and frameworks.
• Familiarity with financial services or payment systems.
• Knowledge of compliance and risk management standards in product development.

Benefits

• Competitive salary between $110k and $154k per year.
• Work from home option available.
• Comprehensive health insurance coverage.
• 401(k) retirement savings plan with company matching contributions.
• Paid time off and holidays.
• Professional development opportunities.