The Product Development Group Mgr manages multiple teams through other managers. In-depth understanding of how own sub-function contributes to achieving the objectives of the function. A good understanding of the industry, direct competitors' products and services, is also necessary in order to contribute to the commercial objectives of the business. Requires thorough understanding of strategic direction of the function within the relevant part of the business, combined with a solid conceptual/practical grounding in both the function and/or area of expertise and related subject areas. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication/negotiation may be necessary. Responsible for executing functional strategy in area managed. Determines approach to implementing functional strategy. Accountable for end results, budgeting, planning, policy formulation and contribution to future strategy of the area(s). Impact reflects size of team managed, strategic influence on the business and interaction with other functions or businesses. Full management responsibility for multiple teams, including management of people, budget and planning, to include duties such as performance evaluation, compensation, hiring, disciplinary actions and terminations and budget approval.
Responsibilities:
The Product Development Group Manager is responsible for all activities related to the development of new products and/or features and functionality of products including developing business cases, requirements definition (BRDs), product enhancements innovation, feature and functionality definition based on market and industry research and trends and client needsThis role will also lead innovation strategy, define and manage product development processes, scope product releases, identify new opportunities to address business priorities, incorporating regulatory and compliance requirements and investment trackingSets strategic vision with team and functional partners to encourage creative and strategic thinking from teamDevelops 3-5 year product strategy and execution road-map with a transformational change planDrives customer segmentation, product positioning, pricing and marketing plans for each client segmentDevelops an inorganic growth strategy, if relevant, through partnerships, alliances and strategic product development to capture a greater share of global payment flows, including those outside of traditional payment flowsDevelops a distribution strategy, considering new and evolving channels for productsEmbeds a culture of world-class professional Product Development, leveraging tools such as Product Launch FrameworkEnsures that ongoing product innovation and development meets strategic and financial objectivesEnsures product offering is competitive in service, functionality & priceMeets client needs through seamless integration and packaging of products with other complementary capabilitiesDefines value proposition, market positioning, and distribution channelsExplores products / propositions addressing clients’ end to end needs, including services with respect to pre and post onboardingDefines strategic opportunities for large-scale product partnerships/alliances with external/internal parties/vendorsDevelops products with attractive and sustainable P&Ls (Revenue, Expense, Net Income Plan and Operating Efficiency)Analyzes product profitability, competition and positioning in the market and proactively drive initiatives to maintain Citi’s leadership positionEstablishes and maintains optimal organizational and headcount structure and reporting relationships for accomplishment of product group’s financial and strategic objectives.Establishes a dynamic management and communication process between global product management team and country/cluster/regional partners with clear roles & responsibilities, and shared goals and visionAppropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
Qualifications:
15+ years of experience, including 8-10+ years' managerial experienceProven track record of successfully managing in a large and complex businessIntellectual curiosity, analytical and conceptual thinkerProactively seeks and develops new opportunitiesThorough financial acumen and P&L management experienceExcellent analytical, interpretive and problem solving skillsProven track record of bringing diverse groups and perspectives to work against a common goalAbility to maintain momentum and minimize client and employee attritionDemonstrated people management skills with ability to motivate large teams and drive resultsProcess Management knowledge with a propensity for detail and comprehensiveness of contentAbility to collaborate and clearly communicate with senior members of an organizationProject Management skills with experience leading large cross functional initiativesProven track record as change agent, with ability to encourage and embrace innovative ideas and solutionsKnowledge of Forecasting platforms, database management and tools is preferred, not requiredSelf-aware with ability to adapt to various situations, rapidly assimilate and report on complex information while creating a future vision
Education:
Bachelor’s/University degree, Master’s degree preferred and managerial experience
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.
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Job Family Group:
Product Management and Development
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Job Family:
Product Development
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Time Type:
Full time
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Primary Location:
New York New York United States
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Primary Location Full Time Salary Range:
$170,000.00 - $300,000.00
In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.
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Anticipated Posting Close Date:
Feb 14, 2025
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