Description
Job Description Summary:
The Head of New Business & Product Development is a senior leadership role responsible for driving sustainable growth across the Specialized Industries & Capital Markets platform through the development of new industry verticals, enhanced return on equity (ROE), expanded cross-sell, and the launch of new products. This role will partner closely with Coverage, Credit Products, Capital Markets, Risk, Finance, Operations, Technology, and Legal to deliver scalable, risk-aligned growth initiatives that deepen client relationships and improve profitability.
Pay Range: $269,572 – $312,922 – $364,344
Job Description:
New Vertical Development
Identify, evaluate, and launch new industry verticals aligned with strategic growth and profitability objectives.
Develop market entry strategies, business cases, and client value propositions for new verticals.
Partner with Relationship Management teams to pilot and scale new client segments.
Assess competitive, regulatory, and capital impacts of entering new markets.
ROE Enhancement & Cross-Sell Expansion
Drive initiatives focused on improving ROE through optimized capital usage, product mix, pricing discipline, and balance sheet efficiency.
Identify and execute cross-sell opportunities across lending, capital markets, treasury, and advisory products.
Collaborate with Coverage and Product partners to deepen wallet share within existing client relationships.
Establish performance metrics to measure ROE, cross-sell penetration, and profitability at the client, product, and vertical level.
Product Strategy & Development
Lead the ideation, design, approval, and launch of new banking and capital markets products.
Own the product lifecycle from concept through commercialization, including new product committee approvals and post-launch optimization.
Ensure products are client-driven, economically attractive, operationally scalable, and aligned with risk appetite and regulatory requirements.
Partner with Finance to develop pricing frameworks and profitability models for new offerings.
Cross-Functional Leadership & Governance
Serves as an advisor to the Head of Specialized Industries & Capital Markets and senior management team. Compiles, prioritizes and prepares critical information to assist with strategic planning, decision-making and organizational growth.
Participates in strategic planning, policy development and decision making.
Represents the Head of Specialized Industries in meetings, by email, and phone calls with internal and external stakeholders. Serves as proxy for the Head of Specialized Industries & Capital Markets as needed.
Ensures timely and effective completion of projects and initiatives of the Head of Specialized Industries & Capital Markets.
Evaluates areas of improvement across Specialized Industries & Capital Markets and makes actionable recommendations.
Uses independent judgement and discretion to make decisions.
Performs special projects, and additional duties and responsibilities as required.
Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.
Required Qualifications:
Education level required: High School Diploma or Equivalent
Education level preferred: Undergraduate Degree (4 years or equivalent)
Minimum experience required: 15+ Years in similar role
Demonstrated success developing new industry verticals, launching financial products, and driving profitability improvements.
Strong understanding of capital allocation, ROE management, and balance sheet optimization.
Experience operating in complex credit, regulatory, and governance environments.
Strong executive presence and ability to influence across senior stakeholders.
Strong time management and multi-tasking skills
Excellent oral and written communication skills
Extremely detail-oriented
Creative problem solver with results-driven mindset
Strong interpersonal skills
Experienced project management and coordination
Ability to make clear and thoughtful decisions under pressure
Physical demands (ADA): No unusual physical exertion is involved.
Flagstar is an Equal Opportunity Employer
Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank