Job Description

The Deposit Product Manager is responsible for developing, maintaining, and enhancing competitive depository products and services for Ent Credit Union members. This role involves collaborating with frontline employees, and members for input on what they are looking for with their depository needs. The Product Manager will create short and long-term product plans and roadmaps that align with the credit union's strategic objectives, meet membership needs, and remain competitive in the marketplace. The role requires close coordination with departments such as Marketing, Finance, IT, Legal, and Retail. Key products include checking accounts, savings accounts, certificates, money markets, IRAs, and payment options.

Essential Functions

• Product Strategy and Management: Develop and manage deposit product strategies, ensuring alignment with organizational goals. Oversee the product lifecycle from introduction to retirement, recommending enhancements, and managing growth and maturity stages. Lead monthly Deposit Committee meetings, creating business cases, product requirement documents, roadmaps, and launch plans. Communicate results in the Deposit Committee and other audiences as requested. Work with Finance to manage and create deposit budget balances. Collaborate with Treasury to create and refine pricing models for deposits, which may be tied to borrowing rates, to support effective pricing strategies. Develop a 3-5 year deposit strategy to ensure long-term alignment with organizational goals and market conditions.
• Market and Competitive Analysis: Work with Marketing to assess competition and review product pricing using market research, cost analysis, and risk modeling. Stay updated on economic, financial, and regulatory developments affecting products and services. Collaborate with Marketing to develop and execute annual marketing plans, including competitive promotions and campaigns. Coordinate product reviews and research with Marketing to ensure alignment with market needs and trends. Support marketing efforts to enhance product visibility and appeal.
• Forecasting and Reporting: Provide short-term and long-term portfolio forecasting. Prepare special reports and analyses as needed. Establish product/service goals and work with the frontline to achieve them. Manage vendor relationships related to specific product areas. Analyze and report on budget variances.
• Collaboration and Support: Serve as a primary point of contact for product-related inquiries and work with colleagues to resolve issues. Proactively ensure that employees understand deposit products and support sales and training teams with up-to-date job aids and tools.
• Innovation and Continuous Improvement: Demonstrate the ability to generate novel product and service recommendations and inspire others to support and implement your vision. Introduce off-cycle promotions and adapt to evolving credit union requirements. Analyze product performance, identify trends, and recommend adjustments.
• Bank Secrecy Act: Remains cognizant of and adheres to Ent policies and procedures, and regulations pertaining to the Bank Secrecy Act.

Qualifications

Minimum Formal Qualifications for this Position

• Bachelor's Degree in Finance, Business Management, Marketing, or a related field, or equivalent combination of education and experience.
• 5+ years' experience in product development and lifecycle management, including building segment promotional programs and leading teams.
• 3+ years' experience with forecasting, pricing models, scoring systems, and credit union policies (preferred)

Each year of relevant work experience may be exchanged for a year in a relevant degree program or vice versa. For example, a requirement of a bachelor's degree in accounting and 2+ years of account experience could be substituted for a high school diploma and 6 years of relevant accounting work experience or a master's degree in accounting and 0 years of work experience.

Technical or Specialized Knowledge/Skills:

• Knowledge of customer orientation to understand and meet member needs.
• Understanding of credit union deposit products, services, and electronic banking systems.
• Analytical abilities to evaluate product performance, market trends, and financial metrics.
• Strategic planning skills, including the ability to develop long-term product roadmaps and align them with organizational goals.
• Ability to balance risk and reward.
• Adaptability to changing market conditions and organizational priorities.
• Financial management, reporting, balance sheet management, net interest margin, and forecasting abilities.
• Communication, problem-solving, and decision-making skills.
• Communication skills to articulate complex concepts to various stakeholders.
• Knowledge of current trends and best practices in deposit product management and financial services.
• Ability to collaborate with departments such as Marketing, Finance, IT, and Legal.
• Understanding of regulatory and compliance requirements.
• Project management and leadership skills, with the ability to build teamwork and complete projects on time and within budget.
• Project management skills with experience leading cross-functional teams and managing projects.
• Knowledge of and the ability to implement financial modeling techniques, including forecasting, pricing strategies, and performance metrics.
• Knowledge of regulatory and compliance requirements specific to financial institutions, including the Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations.
• Ability to inspire and lead teams.
• Problem-solving abilities to identify issues and implement strategies.
• Negotiation skils to manage vendor relationships and secure terms.

Certifications Required:

• Valid Driver's License required

Environmental, Physical and Psychological Requirements

• Standing - Occasionally
• Walking - Occasionally
• Sitting - Frequently
• Lifting - Rarely (40 Lbs)
• Carrying - Rarely
• Pushing - Rarely
• Pulling - Rarely
• Balancing - Rarely
• Stooping - Rarely
• Kneeling - Rarely
• Crouching - Rarely
• Crawling - Rarely
• Reaching - Occasionally
• Handling - Occasionally
• Grasping - Occasionally
• Feeling - Occasionally
• Talking - Frequently
• Hearing - Frequently
• Repetitive Motions - Frequently
• Eye/Hand/Foot Coordination - Occasionally
• Noises louder than normal speaking volume - Occasionally
• Temperature Changes - Rarely
• Atmospheric Conditions - Rarely

Additional Information

The pay range for this position is: $99,153 to $130,124 per Year (S17)

Final compensation for this position will be determined by various factors such as relevant work experience, specific skills and competencies, education, certifications, and internal pay equity.

We anticipate this position to close on 10/25/2024. Please submit your application at your earliest convenience to be considered.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.

Benefits Summary Sheet - 2024

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)