Retail Products Manager

About the Role

This position is responsible for the strategy, development, and performance of deposit products, ensuring they meet customer needs, comply with regulations, and achieve performance goals.

Southern Bank team members exhibit Southern Bank’s values, which can be remembered with the acronym FIRSTS:

• FAMILY – We care about people, both personally and professionally, and contribute to the success of those we work with daily.
• INNOVATION – We push for better ways to solve problems, develop new ideas, and lead with creative solutions.
• ROOTED – We are deeply invested in our communities and committed to their success.
• SERVICE – We prioritize others, making decisions that benefit customers, team members, and communities.
• TRUST – We strive to be reliable, honest, and transparent in all actions.
• STRENGTH – We support and rely on our capacity and resilience to assist those who depend on us.

Ensures the confidentiality of customer non-public personal information and secures information systems to comply with bank regulations.

Responsibilities

Product Strategy and Development

• Defines deposit product vision and strategy aligned with the Bank’s Strategic Plan, performance goals, and customer needs.
• Conducts market research, competitor analysis, and identifies customer pain points to inform product decisions.
• Develops new deposit products or enhancements to existing ones.
• Manages ancillary third-party retail products offered to customers (e.g., Clover, credit cards, check providers).
• Performs other duties as assigned.

Cross-Functional Collaboration

• Works with IT, operations, compliance, and marketing to ensure deposit products are secure, scalable, and user-friendly.
• Coordinates with stakeholders for testing, training, and rollout of new or changed deposit products.
• Supports front-line, customer contact center, video banking, and ITM teams by providing product expertise and assisting with complex customer implementations.
• Participates in deposit strategy and the development of team members’ scorecards.

Regulatory Compliance and Risk Management

• Ensures all deposit products comply with banking regulations, industry standards, and internal policies.
• Monitors regulatory changes and adjusts deposit product features accordingly.

Performance Monitoring and Optimization

• Tracks performance metrics, adoption rates, revenue contribution, and customer satisfaction.
• Gathers customer feedback and refines deposit products to enhance usability and profitability.
• Conducts pricing reviews and manages service charges to optimize revenue.

Customer Engagement

• Defines customer personas and streamlines onboarding processes.
• Acts as subject matter expert for complex customer relationships and escalated support issues.
• Participates in industry events to stay current on trends and innovations.

Vendor and Contract Management

• Manages service providers for deposit-related systems and services.
• Negotiates contracts, manages vendor performance, and ensures service level agreements (SLAs) are met or exceeded.

Requirements

Skills and Abilities

• Proven analytical ability (data mining/manipulation, forecasting).
• Ability to translate hard data into strategic plans through income/expense management and analytical capability.
• Demonstrated ability to quickly analyze situations and risks, determine action paths, and execute flawlessly.
• Excellent skills with MS Word, Excel, and PowerPoint.
• Candid and concise communication skills.
• Passion for driving results and innovation.

Education and Experience

• 5+ years of product management experience.
• Bachelor’s Degree preferred.
• Experience in project planning and management, with the ability to manage multiple projects in a fast-paced environment and meet deadlines.
• Experience with, and a strong understanding of, consumer and commercial retail products, treasury management products, and non-interest income management.

Core Competencies

• Building Partnerships: Identifying opportunities and taking action to build strategic relationships between one’s area and other areas, teams, departments, or outside vendors/partners to achieve business goals.
• Leadership Disposition (Back Office): Demonstrating traits, inclinations, and dispositions that characterize successful leaders; exhibiting behavior styles that meet the demands of the leader role.
• Aligning Performance for Success: Focusing and guiding others in accomplishing work objectives.