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Treasury Services Wholesale Lockbox Product Manager, VP

Req #: 180036823_2
Location: Tampa, FL, US
Job Category: Compliance
Job Description:
Product Manager – VP (603) – Wholesale Lockbox
Location(s): Chicago, New York, Tampa
JPMorgan is a market leading provider of Wholesale Lockbox services. We are currently seeking an individual to serve on the Product Management team responsible for the commercial and corporate aspects of this business.
Wholesale Lockbox is a comprehensive collection system that processes incoming check and document receipts through strategically located lockbox sites throughout the United States and Canada and updates accounts receivable systems.  Wholesale Lockbox streamlines the pickup and processing of remittance mail and the flow of critical information by capturing and depositing funds quickly in secure, state-of-the-art processing locations. We maintain nearly 15,000 lockboxes that process 150 million items, deposit $650 billion, capture 190 million images, and data key 1.1 billion keystrokes annually.
This individual will have responsibilities for managing all aspects of the service. This includes, but is not limited to, developing and implementing product strategy, managing profitability and other key financial metrics, pricing, competitive landscape and marketing, client experience, sales strategy, internal partner relationships, enhancing product alignment with complementary services, and ensuring compliance and risk aspects are managed appropriately.  The role requires a combination of analytical acumen, technical proficiency, and creative problem solving abilities. Industry / domain specific knowledge is desired, though not a requirement. The individual will work closely with key Product Managers, Project Management Office, Sales/Relationship Management, Operations, Technology, Service and Implementations across the bank.
  • Product P&L management:
      • Manage P&L to meet or exceed revenue, expense and margin targets
      • Build and present executive product updates inclusive of current financial metrics, forecasting, product development and risk management initiatives
      • Own monthly sales tracking, analysis, and deal implementation status
      • Identify volume, price and revenue trends and recommend actions to respond to changes in volume and revenue
      • Partner with business management to assure in-depth understanding of near and long-term impacts to financials
  • Product strategy & delivery:
      • Assist in developing strategic direction
      • Understand and analyze industry trends, risk and regulatory developments and competitive landscape 
      • Identify market opportunities and deliver solutions that address client needs, while meeting critical deadlines and navigating constraints 
      • Define and implement strategies to improve service delivery
      • Support calling plans with sales in targeting clients/prospects to grow revenue
      • Identify and submit Change Requests and associated Business Requirements for enhancements
  • Partnership
      • Manage and prioritize projects across groups, create organization alignment from an execution perspective and make decisions in conjunction with other departments
      • Cultivate partnerships and collaborate across stakeholders including Finance, Risk, Legal, Operations, Sales, Technology and the Commercial Bank to assure alignment and execute key initiatives
  • Support and define standard product offering:
      • Draft business requirements for technology projects at a product and feature/function level
      • Maintain Product Profile pages and key content in Sales Hub to ensure Sales, Product Specialists and Service are able to locate and use product documents with a high level of satisfaction
      • Update implementations, marketing and other materials (RFP responses, AFP questionnaires, etc.) as offering evolves, assuring synchronization with Operations
  • Risk and Compliance:
      • Proactively manage all applicable open risk items and ensure compliance across product set
      • Support all compliance and risk related initiatives as necessary including auditing of documentation, risk analysis, and other product due diligence initiatives
  • Product:
      • Come up to speed quickly on new products and be regarded as a Subject Matter Expert on Lockbox  Services
      • Maintain product and system documentation (user guides, marketing sheets, training decks).
      • Maintain product profile pages and key content in Sales Hub to ensure Sales, Product Specialists and Service are able to locate and use product documents with a high level of satisfaction
      • Update implementations, marketing and other materials as offerings evolve, assuring synchronization with Operations, Service and Sales partners
      • Work with Change Management teams to ensure communications about product changes are timely and accurate
      • Respond to questions and requests from Service and Sales
  • Pricing:
      • Conduct analysis to identify target market and service code changes and restructuring for annual and off-cycle price event.
      • Maintain Intranet Deal Model (IDM) service code dictionary and Wizards.  Ensure changes in product scope or policy are reflected in IDM
      • Support Product UAT testing for billing and pricing initiative for billing system changes and annual price events:  develop test scripts, document results, defects and issues as it relates to Service Code, pricing, or billing workflow changes
  • Billing:
      • Review and certify monthly billing activity to ensure accuracy and complete revenue capture for margin improvement projects
      • Troubleshoot and resolve billing discrepancies
  • BA/BS in Management, Economics, Marketing or a related discipline; MBA preferred
  • Minimum 5-7 years of relevant experience in banking and/or financial services industry with additional experience in one or more of the following areas: Product Management, Sales, Treasury
  • Excellent time management and is a self starter with ability to deliver results on time
  • Thrives in dynamic and fast paced environment managing multiple concurrent initiatives with different delivery dates
  • Ability to analyze product financial data and develop positive profit and loss performance
  • Strong analytical and problem solving skills, strong organizational skills, attentive to details and ability to work with minimal supervision
  • Demonstrated communication and diplomacy skills to work cross-organizationally to influence others, drive results/change and implement projects/processes
  • Combination of strong analytical skills and creative problem solving, in order to synthesize large amounts of information into crisp, actionable insights and plans
  • Concrete project management skills, including the ability to develop a well-organized, structured approach and to achieve tight timelines on complex deliverables
  • Client-facing experience with both internal and external clients
  • Evidence of collaborative partnerships within highly-matrixed organization to ensure all business and client needs are met
  • Ability to translate product vision into phased design requirements and execute market launch
  • Demonstrated leadership experience with  multiple cross functional teams including Product, Operations, Service, Sales, Marketing and across management levels on simultaneous projects
Experience with the following Skills Preferred
  • Microsoft Office: Excel, Access, Word, and PowerPoint (must be very strong in Excel and Access)
  • Software Development Lifecycle
  • Requirements Definition and Documentation
  • Ability to write copy for marketing materials
    Experience with the following Applications Preferred
  • Business Objects – GEM/CAP and Dash hub
  • BAM – Manual Billing Interface for Product Volume entries
  • IDM (Intranet Deal Model – Service Code tables and pricing) and IDM Deal Wizard
  • FSD (Financial Services Data warehouse – Billing and ECD account inquiry)
  • RemitAdmin
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