Head of Commercial Product

POSITION: Head of Commercial Product

Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity and inclusion. Cambridge Savings Bank is seeking a Head of Commercial Product, who will be responsible for leading the product vision and strategy for commercial banking customers inclusive of the Commercial Real Estate (CRE), Commercial & Industrial (C&I) and Asset Based Lending (ABL) business lines. This newly created role will involve a combination of strategic planning, product design, market analysis, and customer engagement and experience. In addition, this individual will collaborate with business partners such as Relationship Management, Operations and Service, Technology, Finance and all other cross-functional teams to deliver a high-quality customer experience.

Key Result Areas:

• Management Responsibilities: Manage the Treasury Management, Onboarding, and Commercial Client Services Implementation Teams (Technical Sales).
• Product Development & Strategy: Design new financial products and/or refine existing products, such as treasury services and payment processing solutions. Align product offerings with market demands and business goals.
• Pricing & Profitability: Own the P&L for commercial product and treasury management, including pricing input and direction for these specific product offerings.
• Technology & Product Integration: Act as a key liaison between the product and technology teams and the commercial banking division, ensuring alignment between commercial banking initiatives and technological capabilities. Facilitate cross-functional collaboration to drive innovation and operational efficiency.
• Market Research & Analysis: Coordinate with the Marketing Department to conduct market research to understand customer needs, competitor offerings, and industry trends to identify opportunities for product innovation, differentiation, and financial impact.
• Customer Engagement: Work closely with relationship managers and sales teams to ensure the bank's products meet customer needs. Leverage customer feedback and insights to identify and address product and experience gaps.
• Client Experience: Develop and manage a comprehensive customer-centric commercial onboarding process from initial engagement with Treasury Management through account opening, onboarding, and beyond.
• Product Lifecycle Management: Oversee the entire lifecycle of a product, from ideation and launch to ongoing performance evaluation and retirement.
• Regulatory Compliance: Collaborate with other departments such as risk, compliance, technology, marketing, and operations to ensure product development aligns with regulatory and compliance requirements and the bank's capabilities.
• Performance Monitoring: Represent commercial interests related to technology, systems, marketing, PxV opportunities, etc. Provide frequent updates to the Chief Commercial Banking Officer (CCBO). Track the performance of products, measuring key metrics like sales growth, customer adoption, and profitability. Adjust strategies as needed.
• Data: Work with finance and data teams to deliver one distinct source of information/data.
• Product Identification & Profitability: Continuously evaluate the bank's product portfolio to identify offerings that are both valuable to customers and profitable for the bank. Recommend enhancements or retirements based on data-driven insights and financial performance.
• Perform additional duties as required.

Qualifications:

• A bachelor's degree in finance, business, or a related field is required; an MBA or other advanced degrees are desirable.
• 5-7+ years of commercial product experience, including direct customer interactions, with a strong understanding of treasury management, payments, and financial technology solutions.
• Proven business analytics skills, with the ability to assess product performance, market trends, and customer data to drive strategic decision-making.
• Exceptional communication, presentation, and interpersonal skills, with the ability to effectively engage with diverse stakeholders, including executive leadership, technology teams, sales teams, and customers, while fostering a positive and collaborative work environment.
• Strong cross-functional leadership skills, with demonstrated ability to work across various teams, including product, technology, operations, compliance, and risk, to align strategies and drive execution.
• Deep understanding of banking FI systems, products, and regulatory requirements, with experience integrating technology solutions into commercial banking services.
• Experience managing P&L, including pricing strategy, profitability analysis, and financial forecasting for commercial banking products.
• Ability to identify and implement innovative product solutions that enhance customer experience while driving revenue growth and operational efficiency.
• Strong problem-solving skills, with the ability to anticipate challenges, identify untapped opportunities, and develop data-driven recommendations to improve product offerings.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities the inclusion of which would be in conformity with the major purpose of this job.

Location:

Hybrid/Waltham, Massachusetts

About Cambridge Savings Bank:

Cambridge Savings Bank is a full-service banking institution with $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In February 2025, Kroll Bond Rating Agency affirmed CSB's investment-grade rating, reinforcing the bank's position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370

Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.

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