Head of Wealth Product Management

About the Role

Responsible for managing and identifying new opportunities to meet the product and service demands of the full spectrum of Wealth Management products and services, including for the High Net Worth (HNW), Ultra-High Net Worth (UHNW), and Affluent client segments as well as the Private Banking, Asset Management, and Fiduciary channels. This position oversees all Wealth Management products, including Asset Management, Private Banking, Fiduciary Services, and Wealth Planning, incorporating a comprehensive segmentation and growth strategy across the three client segments. The role has a direct impact on revenue, growth, and retention of the Wealth Management business.

Responsibilities

• Develop and direct the execution of the organization’s long-term strategy for the full spectrum of Wealth Management products, including product management, development of services, marketing, implementation, customer experience, and risk management.
• Set the strategic direction of Wealth Management products by establishing a multi-year product roadmap based on industry trends, regulatory environments, and competitive analysis.
• Provide strategic direction and management of planning, development, and implementation of resources to support the departmental vision.
• Oversee multiple large-scale and cross-functional Wealth product-related projects.
• Utilize in-depth expertise in Wealth products, services, and technology (mainframe, internet channel, and bank infrastructure) to ensure successful acquisitions and new product development.
• Provide Wealth representation and approvals on the most complex, critical, and highly visible projects at the division and/or Bank-wide level.
• Lead and drive issue and problem resolution related to project deliverables and daily operations.
• Build strong cross-functional relationships across the organization to successfully navigate and operate in a matrix environment.
• Identify and influence critical stakeholders at senior levels of the organization.
• Own all aspects of product financials, including revenue planning and product profitability.
• Manage profitability and pricing of products in markets; direct product pricing, cost structure, and product risk.
• Ensure all products and services are marketable, profitable, and comply with legal and regulatory requirements.
• Oversee integration of product strategies into sales channels.
• Review new product opportunities to identify enhancements for Wealth products.
• Establish marketing objectives; partner with other Bank departments to develop effective programs to sell services and products.
• Design and manage product development and market strategies (e.g., advertising, pricing, expense planning, profit plans, packaging, future products) and goals; monitor achievement of such goals.
• Formulate and implement related policy and procedures.
• Oversee Wealth Management integration during Bank acquisitions, including data mapping, marketing, client communications, and onboarding.
• Oversee the onboarding of complex products and technical integration within deadlines.
• Manage all aspects of new product implementation and existing product modification, including design and development of services, portfolio acquisition, and process improvements.
• Formulate and approve product-specific policies and procedures.
• Review new product opportunities and trends in local markets; evaluate and recommend new services, products, or geographies, or modify existing ones.
• Evaluate new product and service success; implement and manage changes in service or marketing strategy as required.
• Understand current and future technology trends to continuously drive improvements to customer support programs.
• Ensure department contingency planning is completed in a timely fashion.
• Exercise managerial authority concerning staffing, performance appraisals, promotions, salary recommendations, performance management, and terminations.
• Understand and adhere to the Company’s risk and regulatory standards, policies, and controls in accordance with the Company’s Risk Appetite.
• Design, implement, maintain, and enhance internal controls to mitigate risk on an ongoing basis.
• Identify risk-related issues needing escalation to management.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
• Complete other related duties as assigned.

Requirements

• Bachelor’s degree and a minimum of 13 years’ relevant experience, or in lieu of a degree, a combined minimum of 17 years’ higher education and/or work experience, including at least 13 years’ relevant experience.
• Minimum of 6 years’ proven managerial, supervisory, and/or work leadership experience.
• Wealth Management and Asset Management product experience required.
• Experience in large-scale bank acquisitions and integration.
• Prior experience managing multiple large-value projects.
• Understanding of pertinent regulations impacting the business.
• Proficiency with personal computers as well as pertinent spreadsheet, word processing, and presentation software.
• Excellent verbal and written communication skills.
• Self-motivated with strong organizational, interpersonal, and presentation skills.
• Strong strategic planning, project management, problem-solving, and analytical skills.

Preferred Qualifications

• Master’s degree in Business Administration (MBA).
• Marketing and sales campaign background.
• Ability to design and build new innovative Wealth Management financial services.
• Knowledge of applicable products, systems, and workflows.
• Deep understanding of banking, operations, product management, and technology systems.
• Knowledge of bank strategic vision and mission with the ability to link specific department/division mission.
• Strong developmental and research ability to understand market trends.
• Knowledge of process improvement methodology and business process management techniques.

Pay

The pay range for this position is $225,200.00 - $418,200.00 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.

Location

Annapolis, Maryland, United States of America