US Wealth Management: Digital Product Manager

$110,000 - $204,100/Yr

BMO - Chicago, IL

Full-time - Mid Level

Chicago, IL

Credit Intermediation and Related Activities

About the position

The Digital Product Manager at BMO US Wealth Management is responsible for defining and implementing the product development, sales, and marketing strategy for an investment product or product portfolio, with full accountability for profit and loss (P&L). This role involves conducting comprehensive market research, forecasting, pricing, and competitive analysis to innovate and develop new products, as well as enhancements to existing ones, aimed at improving the customer experience. The Digital Product Manager collaborates with internal partners across the organization to successfully take products to market while managing all associated risks to ensure compliance, including risk reporting. In this position, the Digital Product Manager will make strategic recommendations to senior leaders based on a deep understanding of the business and group dynamics. They will act as a subject matter expert on relevant regulations and policies, and may also network with industry contacts to gain competitive insights and best practices. The role requires the development of business cases by identifying needs, analyzing potential options, and assessing expected returns on investment. The Digital Product Manager will determine product lifecycles and manage resources to lead the execution of strategic initiatives that align with business and financial goals. Additionally, the Digital Product Manager will oversee the development of business analytics and insights, including portfolio profitability tracking, customer analytics, revenue forecasts, operations metrics, trend analytics, and predictive modeling. They will conduct complex market research and competitive intelligence, develop frameworks for evaluating problems, and lead change management programs of varying scope. The role also involves defining and implementing product strategies, driving business cases and strategic roadmaps, and continuously improving processes to enhance customer experience. The Digital Product Manager will work closely with internal stakeholders to develop training materials for the salesforce and may support the sales team in developing specific deals for customers. This position requires the ability to manage ambiguity and apply expertise creatively to address complex problems.

Responsibilities

• Define and implement product development, sales, and marketing strategy for investment products with P&L accountability.
• Conduct market research, forecasting, pricing, and competitive analysis.
• Innovate to develop new products and enhance existing ones to improve customer experience.
• Collaborate with internal partners to take products to market and manage associated risks.
• Make recommendations to senior leaders on strategy and new initiatives based on business understanding.
• Act as a subject matter expert on relevant regulations and policies.
• Network with industry contacts for competitive insights and best practices.
• Develop business cases by identifying needs and assessing expected ROI.
• Determine product lifecycle and manage resources for strategic initiatives.
• Oversee development of business analytics and insights, including profitability tracking and customer analytics.
• Conduct complex market research and competitive intelligence.
• Lead change management programs and develop communication strategies.
• Identify risks and develop risk management controls and processes.
• Define and implement product strategy for individual products or portfolios.
• Drive business case and strategic roadmap for products and services.
• Optimize financial performance and customer value of product portfolio.
• Continuously improve processes to enhance customer experience.
• Develop training materials for salesforce and support sales team in client presentations.
• Maintain relationships with external partners and vendors.

Requirements

• Typically 7+ years of relevant experience and a post-secondary degree in a related field or equivalent combination of education and experience.
• Established track record of providing strong investment performance and effective risk management.
• Completion of relevant investments certification.
• Advanced understanding of functional area and a competent understanding of the overall firm and competitive environment.
• Broad knowledge of more than one discipline.
• Seasoned professional with a combination of education, experience, and industry knowledge.
• In-depth verbal and written communication skills.
• Expert analytical and problem-solving skills.
• Expert influence skills and collaboration/team skills with a focus on cross-group collaboration.
• Ability to manage ambiguity and make data-driven decisions.

Nice-to-haves

• Experience in digital product management within the financial services industry.
• Familiarity with agile methodologies and product development frameworks.
• Strong project management skills.

Benefits

• Health insurance
• Life insurance
• Retirement plan
• Tuition reimbursement