Product managers in the financial services are responsible to supervise sales associates and other financial representatives to make sure that performance targets are achieved. They generally supervise a specific region that serves multiple branches or offices of a business. Certain product managers in financial services deal with specific categories of customers like the demographic category instead of a specific geographical region. For instance, one manager could oversee sales representatives who sell financial products to people living in the Upper Midwest, whereas another could oversee sales representatives to retired people within a specific amount of balances. The majority of firms require their product managers working in the field of financial services to have minimum a bachelor's level in a related field to finance like accounting or business. Many have bachelor's degrees in different fields, but they receive specific training for their field. A majority of financial product firms require their managers to hold master's degrees, like master's in management (MBA). Other companies may require a special license or certifications, like an securities license issued by an individual state regulator. A lot of people take the national commodities Futures Examination, which enables people to sell options and futures. Product managers in the financial sector typically are employed full-time during normal working hours in a office setting. However, sometimes, overtime can be necessary based on the sales volume as deadlines get closer. Based on the sales reps and associates under the supervision of managers there may be some travel necessary. A variety of financial institutions have product managers, such as mutual funds, banks, and insurance companies.

The role of Product Manager in Financial Services is expected to witness significant growth in the market. Over the past 10 years, the demand for this position has consistently increased due to the evolving financial industry and technological advancements. According to Google data, employment opportunities for Product Managers in Financial Services are projected to expand in the coming years. The rapid digital transformation, increasing reliance on financial technology, and the need for innovative financial products are major driving factors for the growth of this role. With a positive outlook, this position offers promising prospects for individuals seeking a career in the financial services industry.

How to Learn

As a Product Manager, Financial Services with 9+ years of experience in the United States, your main responsibilities include:<ul><li> Collaborating with cross-functional teams to develop and execute product strategies, ensuring alignment with business objectives and customer needs.You work with various teams to create and implement product strategies that align with the company's goals and cater to customer requirements.</li><li> Conducting market research, competitive analysis, and customer interviews to identify opportunities and gather insights for product improvements.You gather market information, analyze competition, and conduct customer interviews to identify areas of improvement and gain valuable insights for enhancing the product.</li><li> Defining product roadmaps, prioritizing features, and creating detailed product requirements to guide the development process.You establish product roadmaps, prioritize features, and create comprehensive product requirements to guide the development team throughout the product development lifecycle.</li><li> Monitoring and analyzing product performance metrics, conducting A/B testing, and iterating on product features to maximize user satisfaction and achieve business objectives.</li></ul>

Roles & Responsibilities

Average take home Salary for a Product Manager, Financial Services in United States is around $142317 per year

Salary Breakup

Product managers in the financial services are chiefly accountable for supervising sales associates as well as other financial representatives to make sure that performance targets are achieved. They generally supervise a specific region that serves multiple branches or offices of a business. Certain product managers in financial services deal with specific categories of customers like the demographic category instead of a specific geographical region. For instance an individual manager could supervise representatives who sell financial products to people living in the Upper Midwest, whereas another could oversee sales representatives to retired people within a specific amount of balances.


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Product Manager, Financial Services

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