Product Manager, Payments

As a Product Manager, Payments at Cross River, your key responsibilities will involve owning the product development and commercialization of payment products, writing detailed product requirements for engineering teams, managing the engineering backlog, and completing feature feedback cycles. You'll also execute go-live strategies in coordination with marketing and sales teams, ensuring compliance with BSA/AML regulations while cultivating a culture of continuous improvement. Your role is crucial for driving cross-functional alignment on all payment-related initiatives.

Ideal candidates for the Product Manager, Payments position at Cross River should demonstrate strong analytical and problem-solving skills, familiarity with building payment networks, and experience with technical product development. While 1-4 years in product management is preferred, the commitment to learning, especially about industry regulations, is equally important. Exceptional communication and interpersonal skills are a must, especially when interacting with diverse stakeholders.

The role of Product Manager, Payments at Cross River is pivotal in driving the company's mission to democratize financial services. By developing innovative payment products and services, you help enable more people and businesses to access essential financial tools. Your efforts in managing both traditional and emerging payment rails directly support Cross River’s vision of reshaping finance and enhancing global financial inclusion.

Cross River offers a collaborative and vibrant work culture for its Product Manager, Payments team. The environment is characterized by a 'figure it out' mindset, where team members are encouraged to think critically and take ownership of their projects. With a strong focus on innovation and growth, you’ll be part of a team that values questioning assumptions and facilitates fast execution, making it a great place for motivated individuals eager to make impactful contributions.

In the role of Product Manager, Payments at Cross River, you will interact with various payment technologies and platforms, including RTP, ACH, FedWire, Visa Direct, and Mastercard Send. A strong understanding of APIs and microservices will be essential, as you will assist in developing solutions that leverage these technologies to improve product offerings for customers.

When answering this question, focus on specific projects where you contributed to payment product management. Discuss the product lifecycle you were involved in, how you coordinated with engineering teams, and any results or metrics that showcase your success. Highlight your ability to align product development with user needs and business goals.

In answering this question, illustrate your approach to fostering communication among stakeholders. You can share examples of past experiences where you've facilitated meetings, managed engineering backlogs, or executed go-live strategies. Stress the importance of aligning all teams to achieve successful outcomes for the product.

When discussing your feature prioritization strategies, mention frameworks like MoSCoW or RICE that help in evaluating features based on business value, urgency, and effort required. Share specific examples highlighting how you balanced stakeholder input with strategic objectives to make informed decisions about feature launches.

Use the STAR method (Situation, Task, Action, Result) to structure your response. Provide details about a challenging scenario, the specific task at hand, the actions you took to address it, and the outcome. Emphasize what you learned from the experience and how it has shaped your approach to product management.

Discuss your understanding of financial regulations relevant to the payments space, like BSA/AML compliance. Explain how you incorporate compliance checks into the product development process and provide examples of how you’ve worked with legal teams to prepare for audits or ensure adherence to regulations.

Mention KPIs that are important in the payments industry, such as transaction volume, conversion rates, user engagement, and customer satisfaction scores. Explain how you analyze these metrics and how they inform product iteration and improvement strategies going forward.

In your response, highlight your commitment to customer-centric development. Describe how you gather customer feedback, whether through surveys, interviews, or user testing, and how this feedback influences future product iterations. Provide examples of changes made based on user insights.

Discuss current trends that are shaping the payments landscape, such as mobile payments, digital wallets, or real-time transactions. Show your knowledge by explaining how these trends can impact product development and the opportunities they create for innovation within Cross River.

Demonstrate your technical knowledge by discussing how APIs function, their importance in enabling payment integrations, and how they facilitate seamless experiences for users. Provide examples of payment products you've worked on that utilized APIs and the benefits they brought to the platform.

Articulate your passion for fintech and why Cross River's mission resonates with you. Mention the company's commitment to innovation and financial inclusion, and how you see yourself contributing to the Payments division. Show enthusiasm for their collaborative culture and your eagerness to be part of their dynamic team.