TITLE: PROGRAM MANAGER - DEPOSIT PRODUCTS
DEPARTMENT: MARKETING ADMINISTRATION
REPORTS TO: CHIEF MARKETING OFFICER
JOB CODE: 11175
The Program Manager, Deposit Products is responsible for the development and management of the credit union’s checking and savings product suite. At a high level the position is responsible for driving strategic growth through a suite of competitive, streamlined, and value-oriented financial solutions for each market segment/geo-market/delivery channel throughout the financial lives of members and consumers. Critical aspects of this role include understanding the financial aspects of the various products, risk and compliance issues, industry, competitive trends as well as regulatory landscape in order to develop compelling value propositions.
Utilizing a data-driven member-centric approach, this position will work cross functionally to manage the end-to-end delivery of deposit products, from learning and development and member education to marketing/positioning/value propositions, point-of-sale, implementation/execution, servicing and reporting. The Program Manager, Deposit Products is the subject matter expert for the deposit product suite and will possess strong technical and business competencies.
As the lead on product-related projects, the position will directly contribute to achieving the strategic goals of the credit union through the introduction of new products, enhancement of existing products, and retiring or sunsetting products as necessary with an end goal of a simple, streamlined suite of financial solutions. Successful Key Result Areas include membership growth, product and services engagement, member satisfaction, brand awareness and revenue and profitability growth.
TASKS, DUTIES, FUNCTIONS:
1. As an individual contributor, work cross-functionally with key stakeholders including but not limited to Learning and Development, Enterprise Risk, compliance and audit, operations, finance, marketing communications, Digital Channel Delivery, Project Management Office, Information Technology and business owners through the complete product development and product management cycle.
2. Assist in the development of a 3-year strategic product plan informed by organization’s Financial Plan and organizational priorities and goals, Voice of the Member (via member surveys, qualitative and quantitative research, social media), competitive landscape and industry trends.
3. Maintain a solid understanding of state and federal laws and regulations and trends related to credit union compliance including bank secrecy and anti-money laundering laws and others relevant to the position. Ensure requisite member communication occurs in a timely manner per regulatory requirements with respect to episodic product changes and required recurring communications.
4. Assist in the development of policies and procedures as it relates to product development and management. Ensure Audit requests for information and necessary remediation are executed in a timely manner. Engage key stakeholders to establish and manage risk management processes and develop a standardized approach for new product launches and enhancements to existing products to effectively measure, monitor and control risks consistent with regulatory guidance.
5. As the subject matter expert, develop, maintain and fully understand and communicate product features and benefits in the context of the Brand Promise. Work with Learning and Development/Human Resources and Financial Education to ensure relevant staff, members and consumers in the community understand the features and benefits of the product suite, their value propositions and how they improve member financial well-being.
6. Participate in establishing annual Key Performance Indicators and objectives for each product and work with the analytics team to develop management reports to track progress monthly or more often as needed as well as produce and share financial analyses, projections, and pro-forma.
7. Via internal Information and Action Reports, create and recommend new products and enhancements to existing products informed by data/analysis, demographic trends, research techniques and competitive offerings utilizing a digital first approach.
8. Along with the marketing communications team, define and evolve product value propositions and key product messages. Identify and address gaps in the product line and execute graduation strategies and ladder protocols throughout the member lifecycle. Provide recommendations to management on product pricing strategy and develop methods to track the progress of recommendations.
9. Stay abreast of trends through reading and socializing relevant information/publications and attendance at industry forums, seminars, and conferences. Travel may be required.
10. Perform other related duties as assigned or requested by Management.
PHYSICAL SKILLS, ABILITIES, AND EXERTION UTILIZED IN THE PERFORMANCE OF THESE TASKS:
1. Effective oral and written communication skills.
2. Must possess sufficient manual dexterity to skillfully operate an on-line computer terminal and other standard office equipment, such as financial calculators, personal computer, facsimile machine, and telephone.
ORGANIZATIONAL CONTACTS & RELATIONSHIPS:
1. INTERNAL: All levels of staff.
2. EXTERNAL: Vendors, community organizations, members, and prospective members.
1. EDUCATION: Bachelor’s degree in product management/design, business administration, marketing, or related field
2. EXPERIENCE: 3-5 years in product analysis and/or management in the financial services industry, preferably in deposit products.
3. KNOWLEDGE/SKILLS: Experience and competencies as it relates to the development and execution of product strategies and objectives. Self-motivated with excellent analytical and relationship skills. Knowledge of deposit products, services, policies, and procedures. Ability to collect data, establish facts and draw valid conclusions. Ability to formulate ideas and recommendations. Strong report writing and presentation skills.
1. Prolonged sitting throughout the workday with occasional mobility required.
2. Corrected vision within the normal range.
3. Hearing within normal range. A device to enhance hearing will be provided if needed.
4. Occasional movements throughout the department daily to interact with staff, accomplish tasks, etc.
5. Occasional long work hours may be required to accomplish tasks.
6. Local and statewide travel by car or public conveyance to attend meetings.
Project Management Professional (PMP) certification preferred.
THIS JOB DESCRIPTION IN NO WAY STATES OR IMPLIES THAT THESE ARE THE ONLY DUTIES TO BE PERFORMED BY THIS EMPLOYEE. HE OR SHE WILL BE REQUIRED TO FOLLOW OTHER INSTRUCTIONS AND TO PERFORM OTHER DUTIES REQUESTED BY HIS OR HER SUPERVISOR THAT ARE WITHIN HIS / HER KNOWLEDGE, SKILL AND ABILITY AS WELL AS HIS / HER MENTAL AND PHYSICAL ABILITIES.
- Bank Secrecy
- Brand Awareness
- Business Administration