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Job Description

SUMMARY: The Consumer Deposit Product Manager is an officer level position within Marketing and Community Relations, responsible for the strategic management and day to day activities of retail deposit products and pricing associated with a retail deposit portfolio. The Consumer Deposit Product Manager manages all activities associated with deposit products and pricing strategies, monitors the dynamics of deposit behavior in each product category and the impact to balance augmentation, diminishment and attrition, develops value propositions and ensures that marketing and promotional initiatives align with the company&#8217s deposit growth and NIM goals. The Consumer Deposit Product manager develops and maintains comprehensive modeling to project deposit balance flows and interest expense for annual financial planning and quarterly forecasting. This individual is responsible for the weekly Pricing Committee report preparation and pricing recommendations. And, will develop and maintain best practice metrics that provide performance benchmarks associated with the deposit portfolio and corporate balance sheet components ESSENTIAL DUTIES: Center of Expertise Development This individual must establish themselves as the center of expertise for all the levers that influence the balance fluctuations (augmentation, diminishment and attrition), pricing and interest expense associated with a Bank&#8217s Retail Deposit portfolio. Portfolio Management Perform portfolio management activities required to manage a $4 billion retail deposit portfolio to meet the Bank&#8217s financial objectives for deposit growth and net interest margin. Activities include product and pricing strategy development, understanding the dynamics of deposit behavior in each product category and the impact to balance augmentation, diminishment and attrition, development of value propositions and compliance activities associated with deposits. Must have a thorough understanding of the interest rate environment and competitor landscape to make weekly pricing recommendations, supported by market research and bank specific data. Will develop and launch new products as approved by LOBs to meet customer needs and business objectives and/or provide supporting analytics for product or campaign recommendations. Financial/Strategic Plan Development Assist in the development of the annual and long-term strategic plans to achieve retail portfolio objectives for deposit products. Develop and maintain comprehensive modeling to project deposit balance flows and interest expense for annual financial planning and quarterly forecasting, taking into account unit, balance and pricing dynamics. Provide analytical support to ensure marketing programs are fully aligned with planned volumes, new account, retention, cost of funds and NIM goals. MARKET ANALYTICS, FINANCIAL PROJECTIONS/ANALYSIS AND METRICS Lead in the development of product scorecard reports for executive management, Pricing Committee and ALCO to maintain best practice metrics that provide performance benchmarks associated with the deposit portfolio and corporate balance sheet components. Evaluate market conditions, customer needs and competitor activities, and identify any trends or developments that represent strategic challenges or opportunities, with a recommended action plan or risk assessment for executive review. Sales Process Tactics Provide support to Sales Management on appropriate product sales methodology to integrate into the sales and goal setting processes. Communication and Training Provide employee communication and product training materials to line personnel as required to support product sales development initiatives and/or campaign requirements. Merger Integration Participate in merger related product teams and their related activities to achieve integration project plans, and meet retention and growth objectives. ADDITIONAL DUTIES: Complete other related tasks as assigned by the Director of Product Management. EDUCATION REQUIRED Bachelors degree required with a major in marketing or finance or other related field. MBA preferred. EXPERIENCE AND SKILLS REQUIRED At least twelve years experience in a product management or finance role within the banking industry or financial services industry and direct experience with budgeting and forecasting a deposit portfolio. Must have a strong knowledge of retail deposit products and services - features, benefits and rate pricing process. Must have experience with product management, including new product development, pricing strategy, product marketing strategies and tactics, as well as the metrics required to fully assess their performance in multiple dimensions. Must be experienced with disclosure requirements to meet all applicable FDIC and state regulatory requirements. Must be experienced with MCIF analysis and research techniques to support existing/new product development, best practice product performance metrics and P&L tracking, Pricing Committee report preparation and pricing recommendations, sales process integration of product tactics and product program communication. Must have sufficient project management skills, and capability to re-prioritize activities continuously to meet business requirements, and have very strong analytical skills to assess balance sheet performance and recommend the optimal product and pricing strategy to meet LOB objectives. Strong communication and presentation skills and the ability to influence and gain consensus are required. Possess ability to interact with executive level and across Lines of Businesses in an integrated and strategic manner. Must be highly proficient in the operation of a computer in a windows environment, including spreadsheet analysis, database (including Microsoft Access and proprietary systems), presentation and project management software. PHYSICAL AND MENTAL DEMANDS The majority of job duties will be performed while stationed at a desk or similar workstation. The incumbent must regularly traverse the department, as well as other departments within the facility. The ability to effectively convey, exchange and interpret information with both internal and external customers is required. Must be able to regularly operate a computer for accessing, retrieving, input and extraction of data. Must be able to regularly operate other general office equipment such as a telephone, fax and copy machines. Occasionally must access, move and place objects weighing up to 10 lbs. Occasionally must access contents of file cabinets ranging in height from floor level to approximately 5 feet. Must be able to regularly reach, handle, examine and interpret documents. Strong reasoning ability is essential for a full understanding of a specialized body of knowledge. Incumbent must be able to analyze information derived from that body of knowledge and effectively apply it in decision-making. Must be able to formulate strategies based on the information as analyzed. Must be able to locate, access and apply new information within this field. Must be able to perform duties in an environment that results in regular stoppage of certain tasks to respond in prompt manner to internal and external customers. Occasional travel required. WORK ENVIRONMENT A comfort-controlled work environment with a moderate level of noise. Occasional travel to other work locations with diverse work environment.


Qualifications
Mandatory minimum qualifications - EXPERIENCE AND SKILLS REQUIRED industry and direct experience with budgeting and forecasting a deposit portfolio. Must have a strong knowledge of retail deposit products and services - features, benefits and rate pricing process. Must have experience with product management, including new product development, pricing strategy, product marketing strategies and tactics, as well as the metrics required to fully assess their performance in multiple dimensions. Must be experienced with disclosure requirements to meet all applicable FDIC and state regulatory requirements. Must be experienced with MCIF analysis and research techniques to support existing/new product development, best practice product performance metrics and P&L tracking, Pricing Committee report preparation and pricing recommendations, sales process integration of product tactics and product program communication. Must have sufficient project management skills, and capability to re-prioritize activities continuously to meet business requirements, and have very strong analytical skills to assess balance sheet performance and recommend the optimal product and pricing strategy to meet LOB objectives. Strong communication and presentation skills and the ability to influence and gain consensus are required. Possess ability to interact with executive level and across Lines of Businesses in an integrated and strategic manner. Must be highly proficient in the operation of a computer in a windows environment, including spreadsheet analysis, database (including Microsoft Access and proprietary systems), presentation and project management software.

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