Deposit Product Manager

Description

Are you passionate about making a positive impact in your local community? Do you thrive in a dynamic, collaborative, and engaging work environment? If so, we have the perfect opportunity for you at Pathfinder Bank!

About Us: At Pathfinder Bank, we take pride in being more than just a financial institution. We are a community-focused bank, committed to building lasting connections in Central New York. As a key player in our Market, you'll have the chance to make a meaningful impact on the people and businesses in our community, while developing long-lasting, trusted relationships.

Why Join Us:

Community-Centric: Your role at Pathfinder Bank is about actively contributing to the growth and prosperity of the local communities we serve.

Collaborative Environment: Thrive in a fast-paced, collaborative, and engaging work environment where your ideas are valued, and teamwork is celebrated. We believe that together, we can achieve more.

Employee Support: We understand the dedication and hard work our employees put in, and we are committed to ensuring you feel supported, appreciated, and rewarded for your contributions.

Flexibility: Enjoy the flexibility of a family-friendly work environment that understands the importance of work-life balance.

What We Offer:

• A fulfilling and rewarding career with opportunities for growth and development.
• Competitive compensation and benefits package including paid holidays, paid time off, medical (including virtual care and work-life balance services), vision, and dental insurance, a 401K with a generous match, tuition reimbursement, banking discounts, and more!
• The chance to be part of a bank that believes in bringing out the best in its talent.

Summary/Objectives:

The Deposit Product Manager is responsible for developing, managing, and overseeing the bank's retail and business deposit products by analyzing market trends, customer needs, and profitability to create and implement new deposit products. This role requires a customer-focused professional with a strategic mindset, analytical skills, and a comprehensive understanding of retail and business deposit products. They are responsible for optimizing pricing strategies and ensuring compliance with regulations, all aimed at maximizing customer acquisition and retention while maintaining the financial health of the bank. The Deposit Product Manager will collaborate across departments to ensure deposit offerings align with the bank's strategic goals, regulatory requirements, and market needs.

Essential Functions

1. Oversee the entire lifecycle of deposit products, including ideation, development, pricing, promotion, and ongoing management.
2. Identify opportunities for new deposit products or enhancements to existing offerings to meet customer needs and drive growth.
3. Conduct market research to stay informed on industry trends, competitor products, and customer preferences.
4. Develop and implement deposit product pricing strategies to achieve competitive positioning while meeting profitability goals.
5. Monitor key performance metrics, such as deposit balances, interest expense, and account activity, to assess product performance.
6. Conduct analysis on product profitability, making recommendations for adjustments as needed.
7. Partner with marketing, retail banking, and digital teams to enhance the customer experience for deposit products.
8. Gather and analyze customer feedback to identify pain points and improve product offerings.
9. Ensure deposit products and services are accessible and easy to use, both in-branch and through digital channels.
10. Ensure all deposit products comply with applicable regulations, including FDIC requirements, Truth in Savings Act, and other banking laws.
11. Collaborate with compliance and legal teams to address regulatory changes that may impact deposit products.
12. Work closely with marketing to develop promotional campaigns and materials for deposit products.
13. Partner with retail banking teams to train staff on deposit product features, benefits, and sales strategies.
14. Collaborate with IT and digital banking teams to implement and optimize online and mobile banking features related to deposit products.
15. Contribute to the bank's strategic planning process by developing deposit product strategies that support overall growth and profitability goals.
16. Prepare and present regular reports on deposit product performance to senior management.

Requirements

• Bachelor’s degree in Business, Finance, Marketing, or a related field.
• 5+ years of experience in