Product Manager - Consumer Deposits

About the role

This Product Manager role is responsible for the development, design, pricing, and management of our consumer deposit product set. This includes reporting and insights related to activity, pricing, profitability, customer growth, and product mix within their portfolio of focus. The Product Manager will provide continued evaluation and recommendation of new product features, functionality, and process enhancements to meet customer needs, enterprise goals, and remain competitive.

The Product Manager partners with key stakeholders including line of business leadership, Finance, Marketing, Risk, Operations, and Technology on the concept, build, and delivery of new products, as well as changes to existing products—all in support of a positive customer experience, sound product governance, and successful outcomes.

Responsibilities

• Product Strategy: Maintain and support execution of a roadmap for the product portfolio that aligns with enterprise objectives. Understand market trends, customer needs, and the competitive landscape. Articulate how products fit into the broader strategy of the bank and address specific client segments.
• Product Development and Management: Oversee the development and enhancement of consumer deposit products. Work closely with Operations, Technology, Line of Business, and Compliance to ensure products are user-friendly and successfully deployed.
• Analysis and Insights: Conduct market research and gather customer feedback to understand client needs and pain points. Develop KPIs and perform user research to inform product development, marketing, and positioning. Manage the budget for product development, assist with forecasting, and analyze financial performance to ensure profitability.
• Regulatory Compliance: Ensure product design complies with relevant laws and regulations. Adhere to change management processes, including obtaining necessary approvals. Stay updated on banking regulatory changes and work with legal and compliance teams to navigate complexities. Lead agreements and disclosures related to product launches and changes.
• Cross-functional Collaboration: Collaborate with Marketing, Compliance, Risk Management, Operations, and business leaders to align teams with product strategy. Provide necessary tools and information to effectively sell and support products. Demonstrate the standards and principles of the bank in every interaction.
• Sales, Marketing, and Communication Support: Support Marketing, Sales, and Communications for effective outreach and promotion. Provide training, procedures, user guides, fact sheets, FAQs, sales documents, agreements, and customer election forms.
• Customer Experience and Service: Ensure high-quality customer experience by addressing issues, feedback, and continuously enhancing satisfaction.
• Product Lifecycle Management: Manage the entire lifecycle of each product, from inception to retirement, including decisions about updates, enhancements, or discontinuation.
• Vendor Management: Manage vendor relationships for payments and promotions, including governance, roadmap alignment, contract/SLA oversight, and issue escalation. Identify opportunities to optimize engagements.
• Subject Matter Expertise: Serve as a product subject matter expert for the consumer deposit product set.

Requirements

• Education: Bachelor’s Degree in Business Administration, Finance, Marketing, or related field.
• Prior Experience: 5+ years in Product Management, Marketing, Project Management, and/or Financial roles.

Skills

• Understanding of product management in a multi-stakeholder ecosystem, including product, pricing, placement, and promotion.
• Demonstrated knowledge of consumer deposit products and services, including digital banking features and technologies.
• Analytical ability to interpret data and present it clearly, with extensive experience using spreadsheets for financial analysis.
• Excellent written and verbal communication skills, with the ability to tailor messaging to diverse audiences.
• Strong project management and collaboration skills, including end-to-end project support.
• Excellent organizational skills with the ability to manage multiple priorities and meet deadlines.
• Proficiency in Microsoft Office tools, particularly Excel.
• Risk-minded, with a firm understanding of risk, compliance, and audit functions.
• Team player with a commitment to advancing the organization’s cultural and community objectives.

Physical Requirements

• Able to regularly sit and stand for prolonged periods.
• Occasional travel required.
• Extensive computer usage.
• Occasional evenings and weekends.

Benefits

• Medical, Dental, and Vision Insurance
• Health Savings Account
• Flexible Spending Account(s)
• Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability
• Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity, Legal Insurance & Personal Accident
• Tuition Reimbursement
• Employee Referral Program
• Wellness Reimbursement Program
• Star Volunteer Program
• Employee Banking and Financial Perks
• Flexible Hybrid Work Schedule
• Paid Time Off (PTO)
• Company Paid Holidays