Associate Savings & CDs Product Manager

Morgan Stanley is a global financial services leader with three core businesses: Wealth Management, Investment Management and Institutional Securities. The Wealth Management Division comprises one of the world’s largest networks of Financial Advisors with offices across the United States. Morgan Stanley acquired E*TRADE in 2020 to position itself as the industry leader in Wealth Management across all channels and segments, and significantly increases the scale and breadth of the Wealth Management franchise.

The recent integration of E*TRADE’s Banking Services provides an endless opportunity for growth and finding synergies. In this regard, the Morgan Stanley U.S. Banks seek a talented and motivated AVP to join the Morgan Stanley Private Banking Group’s Deposits Product Management Team. The Morgan Stanley U.S. Banks (Morgan Stanley Private Bank, National Association and Morgan Stanley Bank N.A.) offer a range of deposit products including brokerage account sweep deposits via the Bank Deposit Program, as well as Savings, CDs, and Global Currency deposit products for Wealth Management clients. Deposit growth is also an important strategic initiative among other responsibilities.

The ideal candidate is passionate about being part of creating the best products possible as well as continually enhancing existing products. This involves working on products from initial concept through to product launch and beyond. 

This is an opportunity to join an entrepreneurial team, focused on innovation and growing deposits across all channels at Morgan Stanley. The Deposits Product Management team collaborates with cross functional partners in Treasury, Finance, Legal, Risk, Compliance, Sales, Marketing, Operations & Technology to discover, develop, build, enhance and grow deposits. We leverage competitor data, market insights and data to design solutions that meet customer needs, align to business goals and maximize revenue for the firm.

Day-in-the-life of a Savings & CDs Product Associate could include (but not limited to):

• Manage existing products and drive projects to develop new initiatives, including promotional campaigns to increase adoption across various channels

• Assist in managing cross-functional teams with representatives from Technology, Operations, Marketing, Legal, Compliance, and Finance to launch and implement these new initiatives

• Partner with Digital Platforms colleagues to develop requirements, test their implementation, and deliver elegant experiences for Bank clients that lead to broader and deeper Deposit relationships

• Maintain rigorous project management discipline to ensure key tasks & deliverables are well documented, tracked, and socialized upon delay or completion; provide clear readouts on progress in large stakeholder forums

• Analyze product trends & report on regional and nationwide performance of various products

• Develop key performance indicators and track progress; partner with Technology to improve & deepen reporting

• Prepare analyses for senior management, and succinctly communicate on key findings & insights

• Analyze competitive strategies across the industry

• Draft internal, Financial Advisor & client-facing communications and collaborate with cross functional partners to develop and implement Deposit Products strategy

• Support Financial Advisors, Private Bankers and Client Service Center in the sales of all deposit products and the resolution of any escalated client issues

• Maintain and update policies and procedures as needed to accurately reflect changes and enhancements to Deposit Products

Experience:

• 1 - 4 years of professional experience in Finance, Treasury, or Banking Services; experience in Banking Product Management a plus

• Strong understanding of retail and private banking products’ economics, rate environment, and market trends

• Demonstrated success in managing multi-stakeholder products & projects

• Bachelor’s degree in Finance, Economics, Accounting

Skills/Abilities:

• Analytical & strategic thinker who is able to tackle unstructured problems with limited guidance

• Self-starter who is able to work independently on multiple tasks; efficient time management skills and attention to detail a must

• Adaptable team player who is willing to learn new concepts quickly & efficiently

• Able to define and evaluate strategies and business use cases

• Strong product intuition and user empathy

• Great presentation and PowerPoint skills, with ability to put together cohesive, senior management-ready decks