SVP Deposit Products

Description:

Summary: The SVP Deposit Products is responsible for the strategic direction and execution of the deposit product line. This position ensures products are integrated and effective in meeting member needs while navigating risk and regulatory concerns and supporting revenue and growth targets. The SVP Deposit Products is responsible for overall product activities, product profitability and development of product roadmap. This position serves as the leader in partnership with key cross-functional stakeholders to ensure we effectively attract the right audience, provide the right value proposition, and to grow targeted segments.

Where you will make an impact:

• Direct product and pricing strategies in alignment with near- and long-term objectives
• Accountable for identifying revenue growth areas and implementing solutions for potential revenue and/or cost savings opportunities
• Accountable for managing vendor relationships and searches for new partnerships when necessary to support new opportunities
• Accountable for budgeting and forecasting assigned product lines
• Proactively monitors regulatory landscape for changes affecting both servicing ability and revenue cost
• Keeps up to date on competitive developments to understand where client demand is headed. Actively engage market representatives to solicit new product ideas and pricing strategies for improvement
• Assembles key stakeholders for cross functional collaboration including marketing, technology, operations and compliance teams to develop strategies and roadmaps to achieve business objectives
• Manage and enhance product profitability, balances and margin through pricing optimization, competitive analysis, risk mitigation, and other analytical methods for consumer and business lines
• Continuously identify product and pricing gaps, process improvements, efficiency opportunities and product risk/issues and receive stakeholder buy-in and alignment on proposed solutions
• Identifies and removes barriers that prevent the attainment of product goals and improvements
• Leads reporting requirements and provides periodic performance reporting to management on an agreed upon schedule
• Manages a sales staff, provides goals, coaching and mentoring, performance appraisals, support, and training
• Researches, recommends, and implements product enhancements, pricing changes, re-launch or retirement of existing products based on customer need, product lifecycles, competitive analysis, and profit potential
• Partner with Marketing in the development of campaigns to increase sales and ensure product objectives

Requirements:

Do you have what it takes?

• Bachelor’s degree in business and/or equivalent experience required
• Minimum of 10 years of experience in Product Management with banking knowledge preferred, specifically related to deposit accounts (checking, savings, and certificate of deposits)
• Knowledge in the following areas preferred: regulations governing credit union products, marketing strategy development and credit union operating systems
• Demonstrated financial management skills with ability to perform analysis that will deliver incremental value through support of product, pricing, and marketing strategies
• Proven collaboration, influencing, and consensus building skills that support leading, managing and working collaboratively with peers and executive management
• Self-motivated and goal oriented
• Proficiency in using Microsoft Office products including Outlook, Word, and excel

Direct Reports

• Deposit Sales Manager

These are the must-haves aka minimum requirements for the job

To be successful in this position, an individual must be strategic, organized, dependable, detail-oriented, personable, and tactful. Must have the ability to make critical decisions and prioritize key objectives. This individual should also possess excellent verbal communication skills and mathematical reasoning ability. They must understand all Vibrant products and services. It is essential that this individual understand and abide by the strict confidentiality policies that are necessary in any financial institution.

Environmental and Physical Activity Requirements:

This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and fax machines. The daily responsibilities of this position constantly require effective talking, hearing, walking, finger dexterity, reaching, stooping, and grasping functions. The position also occasionally requires reaching and lifting (up to 25 pounds). Frequent sitting, standing, and repetitive motion activities are also required. Must be able to read print and computer-based materials and to do so with consistent accuracy. Most of these functions require light physical exertion and are conducted indoors at controlled degrees of temperature.

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.