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Deposit Product Manager
Union Bank
Los Angeles, CA, United States
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Responsible for leading a team of product managers in the development, and ongoing management of all aspects of the payments relationship with small businesses or consumer with the goal of optimizing top line revenue growth by acquiring new relationships, building deposit balances, and optimizing product profitability.
Major Responsibilities:
The function oversees strategy formation and product planning including competitive market research; analysis of competitive and market forces; and ongoing critical assessment of internal strengths and weaknesses. The group is responsible for the development and execution of the strategic product marketing plan, including the on-going management of the existing product line and the development and launch of new products, features and functionality.
The position works closely with Retail Banking executive management, Branch Banking, Marketing, Bank Operations, and other product areas to ensure the strategic product marketing plan is aligned with the overall strategies of Retail Banking and will be effective in both acquiring relationships and expanding share of wallet. In addition, the incumbent understands and manages product profitability and develops tactics to improve profitability and performance through product design and pricing discipline. The position is expected to work closely with Retail Deposit Portfolio Management in measuring and tracking financial performance and volumes against established goals. The function plays a key role in managing the IT systems development of new and enhancement of existing products. If assigned to Consumer Checking and Payment, the goals of the position are achieved through the strategic management of all aspects of the features and functionality of the consumer payments relationship, including but not limited to interest-bearing and non-interest bearing checking accounts; statements, ATM and debit cards; and cash transfer and bill pay capabilities. If assigned to small business, the goals of the position is achieved through the strategic management of all aspects of the features and functionality of the small business payments relationship, including but not limited to interest-bearing and non-interest bearing checking accounts; statements, ATM, debit cards, and P-cards; and cash management capabilities.
Duties include:
1. Provides leadership to a team of deposit product managers overseeing all aspects of Small Business Checking and Payments products. Responsible for directly supervising staff, including interviewing, hiring staff and the termination of staff; recommending salary changes, job promotions; setting work hours, conducting counseling /performance reviews, and planning of the staff's work. 20%
2. Develops and executes strategic product marketing plan in support of business strategy, and deliver towards key metrics. 15%
3. Maintains and develops the existing product lines. Responsible for both long and short term product planning, and, in conjunction with Retail Deposit Portfolio Management, financial modeling, product and services pricing, and project based revenue/cost forecasting. 15%
4. Works closely with cross-functional teams, aligning their goals to execute on multiple projects in a timely and efficient manner; drives interaction with marketing, sales, operations, and technology to deliver customer centric products and services. 10%
5. Partner with Branch Banking, Marketing, Bank Operations, and other product management teams to define and execute on customer development, cross-sell, increased product penetration, and share of wallet strategies.10% 6. Understands industry players, broader competitive environment, and new and existing products and service solutions offered to the industry. Oversees development of, maintenance of, and updates of competitive analysis data as it relates to product, pricing and sales strategies. 10%
7. Initiates, leads and collaborates with operations, technology services, finance, compliance, marketing and sales management to ensure product growth meets corporate objectives through competitive and marketable products and effective pricing and promotion strategies. 10%
Qualifications
Additional Information:
• Minimum 10+ years of experience as a product manager in a financial services organization with at least 5 years in Small Business deposit product management and 5 year experience in managing a product management team.
• Must have a proven track record of developing and driving multiple product initiatives from start to finish, from business model to post-rollout measurement. strong analytics, strategic thinking and customer empathy are required.
• Effective team work and team building skills.
• A comprehensive understanding of product and project management practices.
• Proven ability to interact and influence executive management. Superior presentation abilities.
• BA is required or comparable work experience; MBA is a plus.
• Reports to SVP Retail Products and Deposits Mgr
The above statements are intended to describe the general nature and level of the work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it’s the bank’s policy to only inquire into a candidate’s criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.