POSITION SUMMARY The Consumer Deposit Product Manager is responsible for managing and growing the bank's deposit product portfolio, including checking, savings, money market, time deposit products and third-party deposit products. This role drives deposit growth strategies, oversees product development and enhancements, leads promotional campaigns, and maintains accountability for product-level financial performance. The role partners cross-functionally with Retail Banking, Commercial Banking, Corporate Treasury, Finance, Risk, Compliance, Marketing, Operations, and Technology to ensure competitive, compliant, and profitable deposit offerings.
KEY RESPONSIBILITIES:Deposit Growth & Strategy - Develop and execute strategies to grow deposit balances, improve retention, and optimize mix
- Ensure the alignment of Deposit Products with Treasury strategies for effective funding, liquidity and interest rates
- Analyze market trends, competitor offerings, and customer behavior to inform strategy
Product Development & Lifecycle Management - Manage the end-to-end lifecycle of deposit products, from concept through launch and ongoing optimization - including business case / winning budget approvals
- Lead product enhancements, pricing changes, and sunsetting activities as needed
- Translate business requirements into clear product specifications in collaboration with Operations and Technology
- Leverage market research and trends to inform product strategies
Marketing Campaigns & Go-to-Market Execution - Drive development of initiatives that result in deposit and household growth through innovative marketing campaigns and sales team engagement
- Collaborate with Marketing, Retail Banking, Commercial Banking and Digital teams to design and execute acquisition, retention, and promotional campaigns
- Define pricing offers, incentives, and segmentation strategies
- Monitor campaign results and adjust strategies based on performance metrics
Product Ownership & Financial Performance - Own product-level financial performance, including balance growth, revenue, cost of funds, and expenses
- Develop forecasts, business cases, and pricing scenarios
- Prepare regular performance reporting and present insights to Senior and Executive management and various committees
Risk, Compliance & Governance - Ensure all products, pricing, and campaigns comply with regulatory, legal, and internal risk requirements
- Partner with Risk and Compliance teams through product governance and approval processes
- Support audits, issue management, and regulatory inquiries related to deposit products
SKILLS AND TRAINING REQUIRED:- Ability to influence, collaborate and lead data driven decisioning
- Strategic thinking with strong analytical capabilities
- Proven cross-functional leadership and stakeholder management
- Ability to translate complex requirements into clear, actionable plans
- Superior written and verbal communication skills
- Detail-oriented with strong execution discipline
WORK EXPERIENCE- 10+ years of experience in banking, financial services, or product management
- Experience managing deposit products and pricing preferred
- Demonstrated experience with financial analysis and P&L accountability
- Strong understanding of regulatory and compliance requirements in a banking environment
EDUCATION:
- Bachelor's degree in Business, Finance, Economics, or a related field
- Stonier Graduate School of Banking program completion preferred not required
OTHER DUTIES:Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
WORKING CONDITIONS:- Prolonged sitting
- Lifting from 5 to 10 lbs (printer paper, storage boxes)
- Occasional bending or overhead lifting (storing files or boxes)
Work is performed in a normal office environment. Noise levels are usually moderate.
May also involve travel to customers and property locations.HAZARDS:The hazards are mainly those present in a normal office setting and those present in commuting by car. Occasionally, they may be exposed to those conditions present in public forums and meeting places.
This job description may not be all-inclusive. Employees are expected to perform other duties as assigned and directed by management. Job descriptions and duties may be modified when deemed appropriate by management.PAY DETAILS:$99,400 - $184,000 annually
Please note, the base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, education, geographic location, internal equity, and other applicable business and organizational needs.
This role is incentive eligible based upon company, business, and/or individual goal achievement and performance.
Team members accrue paid time-off (PTO), receive Holiday (PTO) and are eligible to participate in the bank's Health and Wellness benefits including Medical, Dental and Vision Plans, Flexible and Health Savings Accounts, and a 401(k) Retirement Plan. In addition, the company provides Disability Insurance, an Employee Assistance Program, and Basic Life Insurance. Company sponsored Tuition Disbursement and Loan Repayment programs are also available. Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.
