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Product Officer

Company: First Interstate BancSystem, Inc.
Location: Billings
Posted on: June 8, 2021

Job Description:

If you are a current FIB employee, please apply through the Career Worklet in the Employee Portal.


The Product Officer will work in collaboration with the Product Management team in the ongoing development, implementation and management of bank products. The product officer is responsible for managing the Loan Product Portfolio, and will oversee all aspects of product lifecycle management, from idea generation, to implementation and sunset for a defined product set. The product officer will provide assistance in support of the daily functions of the Product Department including: project leadership, developing product materials and tools, conducting product research and analysis with focus on short-term execution and long-term strategy, vision, growth, and end-to-end user experience.

ESSENTIAL DUTIES & RESPONSIBILITIES include the following; other duties may be assigned.

  • Assist in the development of the product roadmap, in alignment with the bank's annual operating plan and strategic initiatives.

  • Partner with business units and key vendors to keep bank's product set ahead of changing landscape.

  • Create project plans and business cases including scoping the project, identifying key dependencies, vendors and systems, performing product analysis, financial review and assessments.

  • Facilitate product compliance requirements including monitoring regulatory changes, risk management and reputational risk of product line.

  • Develop business requirements for products sourced through vendor relationships.

  • Assist with product research by regularly analyzing and documenting product lines in terms of competitiveness, profitability, rates, and usage throughout the product lifecycle. Entails researching industry trends and client demand for new products and services.

  • Develop a deep expertise in all products and services.

  • Maintain content of product grids, fee schedules, rate sheets, disclosures and other product related materials to ensure accuracy, completeness and compliance.

  • Create product materials and tools for training use and spearhead communications regarding product updates, launches, campaigns or procedural changes.

  • Act as the subject matter expert and provide responsive assistance to branches, client support and other departments company-wide for product related support and solutions.

  • Evaluate product data sets and reports and communicate results and recommendations to product managers.

  • Assist with promotional campaigns in collaboration with marketing to prepare campaign material, order collateral materials, track results and coordinate with branches, sales and delivery.


To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.


Bachelor's degree (B. A.) from a four-year college or university and five or more years related experience and/or training; or equivalent combination of education and experience. Lending experience is preferred.


Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to effectively present information and respond to questions from groups of managers, clients, customers and the general public.


Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.


Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.


While performing the duties of this job, the employee is regularly required to stand and talk or hear. The employee is occasionally required to sit, use hands to finger, handle or feel, reach with hands and arms.


The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually quiet.

If you are a current FIB employee, please apply through the Career Worklet in the Employee Portal.

Keywords: First Interstate BancSystem, Inc., Billings , Product Officer, Other , Billings, Montana

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