Role Summary
TheOffer ManagementDirector, Cash Management, serves as the business owner for the default cash position within the firm’s(direct-to-consumer) brokerage offering. The role is accountable for the full life cycle of the cash management offering—frominitialdesign and launch through ongoing management, client retention & growth, and revenue optimization.
This individual owns the offer strategy, client value proposition, economics, and overall performance of the offering. The Director will manage the cash management P&L and pricing strategies, oversee key external partners, and define the supporting capabilitiesrequiredto build a competitive and sustainable cashmanagement offer.
This is a business ownership role. The Director willestablishbusiness requirements and priorities but will partner with digital product and technology leaders who own delivery teams and technical backlogs.
Responsibilities
Offer Strategy and Business Ownership:
- Own the end-to-end strategy and business performance of the default cash position within direct-to-consumer brokerage accounts.
- Develop the vision, client value proposition, road map, and phased launch plan for the cash management offering.
- Establish how the offering will attract andretainclient assets, generate sustainable revenue, and strengthen the broader brokerage relationship.
- Maintain accountability for the offer after launch, including ongoing optimization, competitive positioning, and long-term growth.
- Ensure the offering reflects the firm’s brand, fiduciary standards, client experience expectations, and long-term business strategy.
Financial Management and Pricing:
- Own the P&L associated with brokerage cash balances and related cash management capabilities.
- Develop business cases, financial forecasts, and profitability analyses for new features, pricing changes, and strategic investments.
- Recommend pricing strategies based on market conditions, competitive positioning, client behavior, funding economics, and financialobjectives.
- Partner with finance, treasury, marketing, and business leadership to review and approve rate changes, promotional offers, and pricing decisions.
- Monitor the relationship between client yield, spread revenue, balance retention, net flows, servicing costs, and overall profitability.
- Establish processes for responding to changes in interest rates, competitor pricing, client behavior, and market conditions.
Offer Design and Supporting Capabilities:
- Define the business requirements for a complete and competitive cash management experience.
- Determinethe featuresrequiredto support a healthy cash business, including FDIC-insured sweep capabilities, partner-bank capacity, liquidity, money movement, debit functionality, direct deposit, and other relevant cash services.
- Partner with digital product and technology teams to translate business strategy into client journeys, product requirements, and prioritized delivery plans.
- Evaluate trade-offs among revenue, client yield, convenience, liquidity, operational complexity, and cost.
- Ensurethe default cash position is clearly integrated into the broader brokerage account experience.
Partner and Vendor Management:
- Oversee the business relationship with clearing firms, sweep-program administrators, partner banks, and other external providers supporting the offering.
- Maintain sufficient partner-bank capacity and diversification to support client balances, deposit insuranceobjectives, liquidity needs, and business growth.
- Evaluate partner performance, economics, service levels, operational resilience, and strategic alignment.
- Lead commercial discussions and support contract negotiations in partnership with sourcing, legal, finance, and business leadership.
- Identifyand manage concentration, capacity, operational, reputational, and third-party risks.
Client Experience, Marketing, and Brand:
- Partner with marketing and digital teams to develop clear,accurate, and differentiated positioning for the offering.
- Ensure client communications clearly explain yield, liquidity, deposit insurance, program structure, eligibility, and relevant risks.
- Monitor client feedback, complaints, service interactions, and behavioral trends to identify opportunities for improvement.
- Balance revenueobjectiveswith client trust, competitive value, and the firm’s brand reputation.
- Develop retention strategies for periods of changing interest rates, increased competitor activity, or elevated client cash movement.
Risk, Controls, and Regulatory Oversight:
- Partner with legal, compliance, risk, and operations to ensure the offering meets applicable brokerage, banking, disclosure, and supervisory requirements.
- Ensureappropriate controlsexist for rate changes, bank allocation, client communications, liquidity, reconciliation, operational processing, and vendor oversight.
- Participate in governance and approval processes for new features, material pricing changes, promotions, and external partnerships.
- Proactivelyidentifyand address regulatory, conduct, operational, reputational, and financial risks.
Performance Management and Executive Reporting:
- Define the key performance indicators used to evaluate the health and effectiveness of the offering.
- Develop regular reporting for business and executive leadership on financial results, client outcomes, competitive positioning, operational performance, and emerging risks.
- Use performance data and client insights to recommend investments, pricing changes, feature enhancements, and growth opportunities.
- Maintain clear accountability for offer-level results and corrective actions when performance falls below expectations.
Qualifications
Required:
- Bachelor's degree or the equivalent combination of education and relevant experience AND
- 10+ years of total relevant work experience
- Demonstrated experience owning the strategy and financial performance of a complex consumer financial product or offering.
- Strong understanding of product economics, pricing, profitability,balancegrowth, retention, and client behavior.
- Strong executive communication, stakeholder management, analytical, and decision-making capabilities.
Preferred:
- Experience managing brokerage cashsweep, bank deposits, insured sweep programs, money market products, or other retail cash management solutions.
- Experience at a digital-first retail bank, brokerage firm, financial technology company, or consumer financial services organization.
- Knowledge of retail brokerage operations, clearing relationships, partner-bank programs, and third-party vendor management.
- Familiarity with the legal, regulatory, compliance, operational, and disclosure considerations associated with brokerage cash offerings.
- Experience launching and scaling a new financial product from design through implementation and ongoing operations.
FINRA Requirements
FINRA licenses are not required and will not be supported for this role.
Work Flexibility
This role is eligible for hybrid work, with up to one day per week from home.
Base Salary Ranges
Please review the job posting for the location of this specific opportunity.
$159,000.00 - $272,000.00 for the location of: Maryland, Colorado, Washington and remote workers
$175,000.00 - $299,000.00 for the location of: Washington, D.C.
$199,000.00 - $339,000.00 for the location of: New York, California
Placement within the range provided above is based on the individual’s relevant experience and skills for the role. Base salary is only one component of our total compensation package. Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance.
Benefits
We value your goals and needs, at work and in life. As an associate, you’ll be supported with resources, benefits, and work-life balance so you can thrive in ways that matter to you.
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