This position is responsible for leading product research, product strategy and product development for Kinecta Federal Credit Union and for ensuring that Kinecta’s products are competitive in the market place and consistently delivered ahead of member needs. The Product Research & Development leader oversees both the ongoing enhancement of existing products as well as the exploration and development of new products, services and third-party product vendor relationships. This includes conducting market research, preparing financial models, collaborating with internal stakeholders and completing other due diligence necessary to support product recommendations to the executive team.
Key activities include but are not limited to developing product strategies, managing the product pipeline and roadmap, identifying product business unit and member requirements, recommending and managing third-party vendor partners, collaborating closely with other areas of the Credit Union and monitoring product competitiveness and member adoption.
- Directs and evaluates market research on new product requirements and identifies enhancements to current product and service features.
- Develops and recommends strategies including product roadmaps, competitive pricing, budgets and profitability analysis for new products and features.
- Leads development and implementation of new features and product enhancements, as well as optimization of on-going product performance. Also, advises business units on potential member experience enhancements.
- Works effectively with other business units to identify and prioritize product initiatives. Ensures that the overall design of solutions aligns with business strategy and service delivery standards.
- Engages with all relevant functions on an ongoing basis for the design, build and maintenance of product and services.
- Maintains an external market outlook and competitive intelligence capable of identifying, evaluating and presenting product alternatives to help guide Kinecta’s strategic decisions and investments.
- Monitors technology, social, industry and economic trends for product opportunities and for related threats that could impact the organization.
- Establishes product research and development (R&D) priorities that pave the way for future innovation.
- Provides data & analytics to support insights and potential product opportunities.
- Analyzes build, buy or partner alternatives for product innovations. Identifies, evaluates and prioritizes potential Fintech partnerships.
Knowledge, Skills and Abilities:
- Product research and development
- Financial modelling
- Overseeing work of others
- Strong motivation to achieve with commitment to producing measurable results
- Exceptional communication skills at all levels of the organization
- Well-developed negotiating skills
- Excellent collaborator
- Experience with strategic planning
- Extensive experience with innovation strategies and competitive intelligence
- Experience in business unit strategy
- Excellent analytical skills
- Ability to inspire and promote teamwork
- Ability to aggregate multiple requirements and find alternative solutions to conflicting demands
- Education, Training and Experience:
Potential candidates for this position must meet the following requirements:
- Minimum of 10 years of experience at leadership level with focus on product innovation.
- Diverse background involving retail banking, product development, product management and vendor due diligence.
- A strategic, analytical, and broad thinker who has developed business strategies and programs.
- Bachelor’s Degree required
- MBA degree preferred.