Location:
For Those Who Work At Home - Various, Ohio 44144Treating members to financial peace of mind.
Laurel Road, a brand of KeyBank National Association and a proud leader in the fintech banking space, is committed to providing our members with industry leading and digital first financial solutions and products. All offerings have been constructed to help our member build a bright financial future. The Laurel Road brand brings with it award-winning service, over $12 billion in funded loans, proven success in the digital lending space and a core set of banking products including mortgages, student loan refinancing, personal loans, credit cards, deposit accounts, financial education and our online/mobile banking applications.
About the Job:
We empower our product team to solve hard problems for members and the business to help deliver value and bring our members financial peace of mind. Our product team maintains the skills necessary to come up with effective solutions that are valuable (to our members and prospects), viable (the solution works within the many constraints of the business model), usable (the end user can figure out how to use) and feasible (our engineers have the skills and technology to implement).
The VP of New Product Development will:
- Manage the new product development program for Laurel Road across three categories:
- Continuous Improvement - foundational to the business
- Differentiation - new features/capabilities
- Innovation - New products/emerging technology
- Lead product innovation and test-and-learn strategies to inform each business case for new opportunities to achieve targeted scale, differentiated existing products and continual operational improvement.
- Own the delivery and operationalization of validated ideas in coordination with Enterprise and Laurel Road Stakeholders
The VP of New Product Development is a key Product leader and helps create a culture of ownership and accountability across the team through cultivating a portfolio of innovative ideas with defensible positions tying to business strategies and KPIs.
Primary Responsibilities:
- New Product Development: Create a formal Innovation Pipeline & New Product Development process that can be integrated into Laurel Road's Strategic Planning and Product Roadmaps to incorporate proven new investments and continuous improvement. Develop a system to Manage Project Stage Gates with defined key metrics for success for each opportunity in the pipeline keeping Sr. Leadership informed on the portfolio.
- Proof of Concepts Process: Develop and manage a process of concepting, POCs, pilots, quantitative and qualitative research to be executed in partnership with Design as a method of low fidelity prototyping to de-risk product ideation and increase the success rate for new improvements, differentiated features and capabilities, and innovative solutions.
- Coordinate & Collaborate Across Teams : While each member of the broader team may be accountable for a specific aspect, the VP of New Product Development understands that consistent innovation is the result of each member of the team contributing their passion and their ideas. The VP of New Product Development must collaborate closely with the entire team to discover effective solutions, know the trends in the broader market, and brings the team together to deliver those solutions to market.
- Program Performance, Timelines, & Delivery: The VP of New Product Development owns the results. Decisions are expected to be data driven and measurable aligning with overall business and company priorities. Mange Performance means managing the risk vs the opportunity while developing the business plan and cost/benefit analysis for each engagement. As products, capabilities, and operational improvements are proven viable, manage transition to new ownership; determining how, when, and to whom to hand off a new product concept to be managed in BAU (once matured)
- Enterprise Leadership: The VP of New Product Development is a thought leader who leads continuous improvement efforts to create, build, maintain, and implement the Laurel Road's strategy, prioritized initiatives, and projects with a cross functional team. Working with top talent in a fast-paced environment, setting data quality, governance, and visualization in a simplistic manner are top priorities. Develop and maintain policies and procedures necessary for the correct functioning of the area. Collaborate with Leadership in the broader enterprise to cascade validated strategies at broader scale.
Required Experience & Education:
- 7+ years of experience in strategy, analytics, financial services, consumer products, or related
- 4+ years leading new product development and/or innovation roles in financial services
- 3+ years working on technology-powered financial services products (preferred)
- A strong understanding of the consumer banking landscape including lending, deposits, and payments solutions.
- Experience in finance, banking, fintech, and product management
- Expert experience in creating product briefings and presenting to executive leadership
- Emerging leadership across teams; coaches and develops other teams members/ cross functional team members
- Demonstrated results from use of insights, thought leader in area of expertise; able to apply basic analytical methods and tools
- Understands key drivers of financial results and can articulate opportunities for improvement; provides foundational, actionable insights into competitive environment
- Bachelor's degree or equivalent practical experience.
- Excellent writing skills, organizes materials for brevity, persuasiveness
- Manage multiple products and/or projects
- Demonstrated understanding of the techniques and methods of modern product discovery and delivery
- Demonstrated ability to learn multiple functional areas of business - engineering, design, finance, sales, or marketing.
- Demonstrated ability to figure out solutions to hard problems with many constraints, using sound judgement to assess risks, and to lay out your argument in a well-structured, data-informed, written narrative.
- Proven ability to engage with engineers, designers, and company leaders in a constructive and collaborative relationship.
COMPENSATION AND BENEFITS
This position is eligible to earn a base salary in the range of $150,000.00 to $170,000.00 annually depending on job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation subject to individual and company performance. Please click here for a list of benefits for which this position is eligible.
Please click here for a list of benefits for which this position is eligible.
Key has implemented a role-based Mobile by Design approach to our employee workspaces, dedicating space to those whose roles require specific workspaces, while providing flexible options for roles which are less dependent on assigned workspaces and can be performed effectively in a mobile environment. As a result, this role may be Mobile or Home-based, which means you may work primarily either at a home office or in a Key facility to perform your job duties.
Job Posting Expiration Date: 11/07/2024KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to building a diverse, equitable and inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other protected category.
Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing
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