Retail pricing management develops, maintains and executes pricing strategy to meet asset and liability growth, liquidity, and overall margin objectives. This involves assessing competitive opportunities through market research, applying and understanding market level elasticity models and tools to estimate customer rate sensitivity, identifying, sizing and communicating rate opportunities and forecasts, and executing rates within the proper operational controls. The team is responsible for governing all rate decisions, including the management of rate exception requests and authorities to assist front-line employees and managers in delivering the PNC brand and an exceptional customer experience.
As a Pricing Lead III on the Deposit Pricing Management team, you will be responsible for supporting pricing strategy development and execution for a portion of the Retail Bank's deposit portfolio. This role is responsible for the development and execution of pricing strategies and rates to drive targeted improvements in the bank's balance sheet, income statement, or both in concert with product, customer / segment and channel strategies. This position works collaboratively within Retail Pricing and with key business leaders in Product, Asset & Liability Management, Finance, Distribution, Marketing, Risk, Decision Analytics, and MIS to serve Retail customers and meet or exceed Retail line of business and overall enterprise objectives.
Functions Unique to Position:
1) Pricing Strategy Development : Develops, recommends and executes pricing strategy with joint accountability for results with key partners in Product and Asset and Liability Management; applies business insight and pricing tools to optimize pricing (elasticity) to meet and exceed LOB and enterprise objective; assists with the implementation and creation of new products and enhancements as it relates to pricing
2) Pricing Strategy Management: Develops and utilizes reporting and insights to present strategy recommendations and results in weekly and monthly pricing committees; continuously surveys and analyzes the competitive landscape to identify risks and opportunities; performs and oversees ad hoc pricing analysis and reporting
3) Pricing Execution: Manages the product pricing process and implementation of rate decisions; ensures pricing decisions are consistent with approved strategies; manages operational risk through policy and procedure
4) Financial Planning & Analysis: Manages pricing inputs into annual planning process, quarterly and interim forecasts, and collaborates with Product and Finance for overall product forecasts and plans; identifies macroeconomic trends and drivers that influence market-wide volume fluctuations
5) Pricing Exception Management: Manages the rate exception process and strategy in coordination with Product and Distribution; provides guidance to front-line employees and managers; create develop, execute and track exception rate policy and compliance
6) Pricing Governance: Enables pricing governance through the documentation of pricing strategy, product profiles, and rate changes and participation in weekly and monthly pricing committee meetings; assess business risks on a regular basis and participate in risk management activities such as Business Resiliency Planning and Risk Control assessments
7) Marketing & Sales: Develops and implements marketing tactics and actions to achieve volume and profitability objectives in concert with Product and Distribution; determines promotional rates and ensures that all pricing tests are well documented and meticulously executed and evaluated in relation to predetermined objectives
Special Skills, Training or Educational Requirements:
Bachelor degree in a related discipline such as business, marketing, finance or economics along with 10 years of experience; master's degree is preferred along with 7 years of experience.
Years of experience to include previous pricing, product, or portfolio management experience. Candidates should possess strong leadership and execution skills, strong project management skills, demonstrated understanding of business drivers, and the ability to communicate effectively and build relationships with all levels of the organization.
The successful candidate will demonstrate'
a solid business and analytical acumen, and the ability to apply these skills to develop strategies
forecasting and financial modeling experience
an understanding of financial markets and interest rates
the ability to build strong relationships and partnerships
strong communication and presentation skills
strategic thinking and problem solving skills
the ability to work independently, take ownership of outcomes, and drive results.
This position may be located in Highland Hills, OH or Pittsburgh, PA.