Product Development Manager - Single Family Mortgage

Description

Preferred Location: Carmel, IN. Open to candidates near Bloomington, MN or Oakbrook, IL.
 

The Product Development Manager oversees the management and evolution of Merchants’ loan product portfolio across retail, wholesale, and correspondent channels. The role centers on leading cross-functional teams through the full lifecycle of mortgage product development—from concept to launch—while ensuring alignment with market trends, customer needs, and regulatory standards. The Product Development manager will be instrumental in shaping our non-agency product offerings, with a particular focus on Prime Jumbo loans and the Private Label Securitization market.

This role exists to drive strategic growth and innovation in our mortgage product suite, ensuring competitive differentiation and market relevance. You will deliver compliant, market-ready products that meet investor and rating agency standards, enhance operational efficiency, and support the bank’s expansion into new lending segments. Your leadership will result in the successful launch of new products, the refinement of existing guidelines, and the establishment of robust processes for exception handling and investor communication.

As our Product Development Manager, you will know you will be successful if you can do the following confidently and independently:

• Drive the execution of all processes in the product lifecycle, including product and market research, competitor analysis, planning, positioning, requirements and roadmap development, and product launch.
• Translate product strategy into detailed requirements and final development by project teams.
• Create product strategy documents that describe business cases, high-level use cases, technical requirements, revenue, and ROI
• Analyze market data to develop sales strategies and define product objectives for effective marketing communications.
• Collaborate closely with IT, credit, operations, marketing, legal, compliance, training and sales teams in the development, QA, and release of products, and balance resources to ensure success for the entire organization.
• Develop product positioning and messaging that differentiates product offerings across primary market segments.

Requirements

 What we are looking for…

• 5+ years of mortgage lending experience with supervisory experience in roles like national underwriting, credit, and operations.
• 3+ years of mortgage product management experience – both analyzing and maintaining current products and developing new products.
• Strong knowledge of the mortgage manufacturing processes, documentation, regulatory requirements, credit policy and pricing tactics.
• Strong knowledge and experience with non-agency mortgage products
• Proven success in overseeing all elements of the product development lifecycle.
• Highly effective in managing cross-functional teams.
• Experience in delivering finely tuned product marketing strategies.
• Exceptional writing and editing skills, combined with strong presentation and public speaking skills.
• Bachelor’s degree (or equivalent) in business, management, finance, or technology
• Proficiency with Microsoft Office Suite (Word, Excel, Outlook, PowerPoint, PowerBI); with strong emphasis on Excel.

About Merchants

Ranked as a top performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple segments, including Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing; Mortgage Warehousing that offers mortgage warehouse financing; and Banking that offers retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. Merchants Bancorp, with $18.8 billion in assets and $11.9 billion in deposits as of December 31, 2024, conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana.  

Merchants Bank and Merchants Capital have recently been honored with the 2025 USA Today Top Workplaces recognition, ranking 22nd nationally within the 500-999 employee category. This is the second year that Merchants has been recognized with this award. These accolades build on our strong history of workplace recognition, including being named a Best Place to Work in Indiana for seven consecutive years (2016–2022). For more information read the entire article here.