Product Development Manager Jobs in Elgin, IL (NOW HIRING)

This job is located at 1 S. Wacker Dr., Chicago, IL, 60606

PLS Overview: 

Why PLS? Because You Deserve Better!  PLS - which stands for People - Location - Service - is a leading retail provider of financial services. The "P" comes first, because our customers are at the center of everything we do, and we recognize that it's our exceptional team members who go above and beyond every day. The PLS Group, headquartered in Chicago, is comprised of over 200 financial service centers in 12 states. Through our check cashing stores, we provide consumers with convenient financial products and services to help them manage their day-to-day financial needs. Although many of our customers have banking relationships, we believe that our customers use our financial services because they are convenient, transparent, and frequently more affordable than available traditional alternatives. PLS was founded in 1997 by Bob and Dan Wolfberg, who serve as Co-Presidents. 

Position Overview: 

The Senior Product Development Manager is responsible for identifying, evaluating, developing, and launching new product opportunities that drive strategic growth for the organization. As a member of the Product organization, this role leads the early stages of innovation by uncovering customer needs, assessing market opportunities, building business cases, and validating new product concepts before they move into full-scale development and commercialization.

This role serves as a catalyst for growth, partnering across our Product, Marketing, Operations, Technology, Finance, and Legal teams to evaluate opportunities through the lenses of desirability, feasibility, and viability. The Senior Product Development Manager will own a portfolio of innovation initiatives and guide concepts from initial idea through launch readiness.

Job Responsibilities:

• Identify and evaluate new product, service, and customer experience opportunities that align with our strategic business objectives.
• Monitor industry trends, market dynamics, competitive activity, emerging technologies, and customer needs to uncover growth opportunities.
• Develop and maintain a pipeline of innovation concepts and new product opportunities.
• Facilitate ideation sessions and cross-functional workshops to generate and refine new concepts.
• Lead customer discovery efforts to understand unmet needs, pain points, and opportunities for differentiation.
• Conduct market research, competitive analysis, customer interviews, and concept testing.
• Develop customer personas, value propositions, and problem statements to support product development.
• Validate assumptions and gather evidence to support investment decisions.
• Build comprehensive business cases for new product opportunities, including market sizing, revenue projections, cost estimates, pricing strategies, and profitability analyses.
• Assess risks, dependencies, investment requirements, and potential returns.
• Develop recommendations and present findings to Product leadership and executive stakeholders.
• Establish success metrics and measurement frameworks for proposed initiatives.
• Lead the evaluation of new opportunities using a structured innovation framework.
• Design and execute pilots, prototypes, proof-of-concepts, and validation activities.
• Partner with our Operations, Technology, Legal, Compliance, and Finance teams, as well as other stakeholders to assess implementation requirements and risks
• Collaborate with Product Managers and delivery teams to transition validated concepts into development and launch.
• Support go-to-market planning, including positioning, pricing, sales enablement, training, and launch readiness activities.
• Track product performance post-launch and identify opportunities for optimization and growth.
• Ensure learnings are captured and incorporated into future innovation efforts.
• Lead and influence cross-functional teams without direct reporting authority.
• Drive alignment among stakeholders and facilitate decision-making throughout the product innovation lifecycle.
• Promote a customer-centric and data-driven approach to innovation across the organization.
• Support the development and continuous improvement of innovation processes, frameworks, and best practices.

Job Requirements:

• Bachelor's degree required in one of the following preferred disciplines: Business Administration, Marketing, Finance, Engineering, or Computer Science
• 10+ years of experience managing products, product development, and managing products within financial services
• Experience leading product development end to end
• Distinctive problem solving, organizational, and analytical skills with the ability to evolve strategy based on research, data, and industry trends
• Development of key metrics to analyze product data for revenue analysis and future projections
• Exceptional presentation and communication skills
• Proven problem-solver with the ability to leverage analytics and consumer knowledge to identify opportunities
• Strong critical thinking skills with a deep understanding of customer needs and the market landscape
• Exceptional customer focus with the ability to utilize customer insights and feedback to drive decisions
• Must be a collaborator who challenges ideas not people
• Work well with ambiguity and changing/shifting priorities

Working Conditions and Physical Requirements:

• This role requires regular in-person collaboration with team members at our Chicago Support Center.
• Must be able to sit and/or stand for extended periods
• Must be able to lift up to 15 lbs. with little assistance

Benefits:

Benefits for eligible team members include medical/dental/vision, 401(k), vacation, opportunities for advancement, and ongoing training.

We strive to demonstrate our Core Values in all positions at PLS:

Communication Customer Focus Integrity and Trust Teamwork Results

PLS is an Equal Employment Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, sexual orientation, gender identity, national origin, disability, marital status, protected veteran status, or any other characteristic protected by law. PLS is a drug-free workplace. PLS provides reasonable accommodations to applicants with disabilities. If you need a reasonable accommodation for any part of the application and hiring process, please notify your Recruiter or a member of our Human Resources team at talentacquisition@pls247.com to make arrangements. The decision on granting accommodation will be made on a case-by-case basis.

For jobs located in the City of Los Angeles, consistent with the requirements of the Fair Chance Initiative for Hiring Ordinance, qualified applicants with criminal histories will be considered for employment