Five Star Bank
Product Manager - Business and Municipal Banking
Five Star Bank, Rochester, New York, United States
Product Manager - Business and Municipal Banking
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Product Manager - Business and Municipal Banking
role at
Five Star Bank .
Base Pay Range $80,000.00/yr - $100,000.00/yr
Purpose This Product Manager role is responsible for the development, design, pricing and management of our commercial and municipal banking products and tools. This includes reporting and insights related to activity, pricing, profitability, customer growth and product mix for business banking, such as cash management tools. The Product Manager partners with key stakeholders—including line of business leadership, Finance, Marketing, Risk, Operations, Technology, and others—to concept, build and deliver new products and improve existing ones, all in support of a positive customer experience, sound product governance and successful outcomes. This includes engaging with governance bodies, such as New Product Approval and ALCO, and adhering to all processes and procedures related to change management.
Essential Functions
Product Strategy: Maintain and support execution of a roadmap for the product portfolio that aligns with enterprise objectives, understanding market trends, customer needs and the competitive landscape.
Product Development and Management: Oversee the development and enhancement of business and municipal deposit accounts, pricing and cash management solutions, working closely with Operations, Technology, Line of Business and Compliance.
Analysis and Insights: Conduct market research and gather customer feedback, develop KPIs and perform user research to inform product development, marketing, positioning, budgeting and financial performance analysis.
Regulatory Compliance: Ensure product design complies with relevant laws and regulations, follow change management processes, and collaborate with legal and compliance teams.
Cross‑functional Collaboration: Align marketing, compliance, risk, operations and business leaders with the product strategy, ensuring they have the necessary tools and information to support sales and product usage.
Sales, Marketing and Communication Support: Provide training, procedures, user guides, FAQ’s, sales documents, agreements and customer election forms to support product launches or changes.
Customer Experience and Service: Monitor customer service touch points, address issues or feedback, and continuously enhance customer satisfaction.
Product Lifecycle Management: Manage the entire lifecycle of each product, from inception to retirement, making decisions about updates, enhancements or discontinuations.
SME: Serve as a product subject matter expert for business and municipal banking products, cash flow analysis and solutions such as ACH, remote deposit capture, lockbox and wires.
Job Related Qualifications – Education and Prior Experience
Education: Bachelor’s Degree in Business Administration, Finance, Marketing or related field.
Prior Experience: 5+ years product management, marketing, project management and/or financial roles.
Competencies
Product Competency: Demonstrated understanding of product, pricing, placement and promotion, especially in business and municipal products and digital banking features.
Analytical Ability: Interpret data and present it in a meaningful way, using spreadsheets to analyze financial data, forecast costs, revenue and profitability.
Communication: Excellent written and verbal skills, tailoring communication to diverse audiences at all levels of the organization and external vendors.
Project Management: Support projects from end-to-end, including solution discovery, requirement construction, technology specifications, launch, approval management, testing, communication and post-project review.
Organisation: Manage multiple priorities and meet deadlines.
Technical Proficiency: Fluent in standard Microsoft Office tools, particularly Excel.
Risk Minded: Understand risk, compliance and audit functions to support risk identification, assessment and mitigation.
Team Player: Desire to advance the organization’s vision for cultural and community objectives.
Physical Requirements
Able to sit for prolonged periods of time.
Occasional travel required.
Extensive computer usage required.
Benefits
Medical, Dental, and Vision Insurance
Health Savings Account
Flexible Spending Account(s)
Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability
Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident coverages
Tuition Reimbursement
Employee Referral Program
Wellness Reimbursement Program
Star Volunteer Program
Employee Banking and Financial Perks
Flexible Hybrid Work Schedule
Paid Time Off (PTO)
Company Paid Holidays
Seniority Level Not Applicable
Employment Type Full‑time
Job Function Product Management and Marketing
Industry Banking
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Product Manager - Business and Municipal Banking
role at
Five Star Bank .
Base Pay Range $80,000.00/yr - $100,000.00/yr
Purpose This Product Manager role is responsible for the development, design, pricing and management of our commercial and municipal banking products and tools. This includes reporting and insights related to activity, pricing, profitability, customer growth and product mix for business banking, such as cash management tools. The Product Manager partners with key stakeholders—including line of business leadership, Finance, Marketing, Risk, Operations, Technology, and others—to concept, build and deliver new products and improve existing ones, all in support of a positive customer experience, sound product governance and successful outcomes. This includes engaging with governance bodies, such as New Product Approval and ALCO, and adhering to all processes and procedures related to change management.
Essential Functions
Product Strategy: Maintain and support execution of a roadmap for the product portfolio that aligns with enterprise objectives, understanding market trends, customer needs and the competitive landscape.
Product Development and Management: Oversee the development and enhancement of business and municipal deposit accounts, pricing and cash management solutions, working closely with Operations, Technology, Line of Business and Compliance.
Analysis and Insights: Conduct market research and gather customer feedback, develop KPIs and perform user research to inform product development, marketing, positioning, budgeting and financial performance analysis.
Regulatory Compliance: Ensure product design complies with relevant laws and regulations, follow change management processes, and collaborate with legal and compliance teams.
Cross‑functional Collaboration: Align marketing, compliance, risk, operations and business leaders with the product strategy, ensuring they have the necessary tools and information to support sales and product usage.
Sales, Marketing and Communication Support: Provide training, procedures, user guides, FAQ’s, sales documents, agreements and customer election forms to support product launches or changes.
Customer Experience and Service: Monitor customer service touch points, address issues or feedback, and continuously enhance customer satisfaction.
Product Lifecycle Management: Manage the entire lifecycle of each product, from inception to retirement, making decisions about updates, enhancements or discontinuations.
SME: Serve as a product subject matter expert for business and municipal banking products, cash flow analysis and solutions such as ACH, remote deposit capture, lockbox and wires.
Job Related Qualifications – Education and Prior Experience
Education: Bachelor’s Degree in Business Administration, Finance, Marketing or related field.
Prior Experience: 5+ years product management, marketing, project management and/or financial roles.
Competencies
Product Competency: Demonstrated understanding of product, pricing, placement and promotion, especially in business and municipal products and digital banking features.
Analytical Ability: Interpret data and present it in a meaningful way, using spreadsheets to analyze financial data, forecast costs, revenue and profitability.
Communication: Excellent written and verbal skills, tailoring communication to diverse audiences at all levels of the organization and external vendors.
Project Management: Support projects from end-to-end, including solution discovery, requirement construction, technology specifications, launch, approval management, testing, communication and post-project review.
Organisation: Manage multiple priorities and meet deadlines.
Technical Proficiency: Fluent in standard Microsoft Office tools, particularly Excel.
Risk Minded: Understand risk, compliance and audit functions to support risk identification, assessment and mitigation.
Team Player: Desire to advance the organization’s vision for cultural and community objectives.
Physical Requirements
Able to sit for prolonged periods of time.
Occasional travel required.
Extensive computer usage required.
Benefits
Medical, Dental, and Vision Insurance
Health Savings Account
Flexible Spending Account(s)
Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability
Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident coverages
Tuition Reimbursement
Employee Referral Program
Wellness Reimbursement Program
Star Volunteer Program
Employee Banking and Financial Perks
Flexible Hybrid Work Schedule
Paid Time Off (PTO)
Company Paid Holidays
Seniority Level Not Applicable
Employment Type Full‑time
Job Function Product Management and Marketing
Industry Banking
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