Product Development Manager

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at-all from Day One.

Job Description

Product Development Manager

The Investment Product Development Manager is an individual contributor who leads the evaluation, design, development, and launch of new or enhanced investment products across the firm’s platform. The role converts client needs, market opportunities, investment capabilities, and regulatory requirements into commercially viable solutions. Investment products may include mutual funds, exchange-traded funds (ETFs), collective investment trusts (CITs), private funds, and/or emerging digital-asset and tokenized structures.

Working across asset classes, vehicles, and distribution channels, the successful candidate serves as the accountable product lead from concept through discovery, implementation, and post-launch review. The successful candidate pairs deep investment-product expertise with disciplined execution and is able to build evidence-based business cases, define product and operating requirements, align senior stakeholders, and lead complex, cross-functional initiatives to facilitate bringing products to market.

Essential Functions

• Product development lifecycle ownership: Lead the end-to-end development lifecycle by identifying opportunities, researching the competitive landscape, modeling cost/benefit and product feasibility, engaging stakeholders, and aligning governance structures.
• Opportunity assessment: Evaluate opportunities across fixed income, liquidity, multi-asset, alternatives, and digital assets using client demand, competitive positioning, investment merit, distribution fit, economics, and risk.
• Business case development: Build rigorous business cases covering target market, value proposition, asset and revenue outlook, pricing, seed-capital needs, implementation costs, operating model, dependencies, risks, and success measures.
• Vehicle and wrapper analysis: Recommend the structure that best fits client, channel, regulatory, operational, risk, and commercial requirements.
• Requirements and delivery: Translate strategy into clear business and product requirements; coordinate investment, distribution, operations, technology, legal, compliance, risk, tax, finance, marketing, and external service providers to deliver on approved scope, timing, and cost.
• Program leadership: Lead multiple complex workstreams and project teams, establish decision rights and milestones, surface trade-offs early, and drive timely executive decisions.
• Competitive and market analysis: Analyze product design, performance, portfolio characteristics, fees, flows, capacity, distribution, and investor behavior to inform differentiated positioning.
• Governance and communication: Prepare governance materials and present recommendations to senior management and product committees, communicating complex issues clearly and providing an independent point of view.
• Risk and regulatory integration: Ensure products and supporting documentation meet applicable legal, regulatory, fiduciary, operational, liquidity, valuation, cybersecurity, and third-party risk standards.
• Digital-asset diligence: For tokenized and digital-asset solutions, assess custody, settlement, blockchain infrastructure, liquidity, valuation, data, investor eligibility, and evolving regulatory requirements.

Priority Focus Areas

Near- and medium-term work may include fixed-income, multi- asset, real asset, product development, ETF and wrapper capability build-out, offshore/cross-border fund expansion, digital-asset and tokenized fund initiatives, and strategic partnership development. Specific priorities will evolve with client needs, regulation, and enterprise strategy.

Basic Qualifications

• Bachelor’s degree or equivalent practical experience.
• Minimum of 10 years of experience in investment management, asset management, product development, product strategy, or a closely related field.

Preferred Skills/Experience

• Experience with fixed income, multi - asset, real asset,ETF platforms, offshore/UCITS fund structures, private funds, or institutional channels.
• Working knowledge of digital assets, tokenization, or digitally enabled investment products.
• Advanced degree or relevant professional designation (e.g., CFA).
• Familiarity with product economics, pricing, financial modeling, competitive and market-data platforms (e.g., eVestment, Bloomberg, Morningstar), and executive-level governance.
• Demonstrated experience taking investment products from concept through launch and post-launch management.
• Substantive expertise across multiple registered and institutional vehicles, including mutual funds, ETFs, collective investment trusts, and private funds.
• Broad knowledge across asset classes, with the ability to assess investment, commercial, operational, and regulatory implications.
• Experience leading complex, cross-functional initiatives and influencing senior stakeholders without direct reporting authority.
• Well-honed problem-solving skills and the ability to work comfortably through ambiguous or changing priorities.
• Strategic thinker with the ability to connect client needs, investment capabilities, distribution, economics, and enterprise priorities while thinking effectively under pressure and demonstrating an understanding of the industry, business, and priorities.
• Demonstrated execution discipline with the ability to turn ambiguity into decisions, requirements, ownership, and measurable milestones.
• Strong analytical and quantitative aptitude, with familiarity with Excel and analytical software and reporting platforms, including eVestment, Clearwater, and Bloomberg.
• Demonstrated market research skills and outstanding flexibility, teamwork, and leadership.
• Strong investment knowledge, sound decision-making, and strategic thinking under pressure, reflecting an understanding of the industry, business, and priorities.
• Exceptional written and verbal communication skills, with the ability to confidently present to senior-level stakeholders.
• Strong drive for results, conveying a sense of urgency and bringing issues to closure despite obstacles and opposition.
• Ability to work independently and manage project teams with a strong work ethic.

The role offers a hybrid/flexible schedule, which means there’s an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits:

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:

• Healthcare (medical, dental, vision)

• Basic term and optional term life insurance

• Short-term and long-term disability

• Pregnancy disability and parental leave

• 401(k) and employer-funded retirement plan

• Paid vacation (from two to five weeks depending on salary grade and tenure)

• Up to 11 paid holiday opportunities

• Adoption assistance

• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

Review our full benefits available by employment status here.

U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Posting may be closed earlier due to high volume of applicants.