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Deposit Product Manager (Hybrid)

Company: Atlantic Union Bank
Location: Richmond
Posted on: November 26, 2022

Job Description:

DescriptionThe Deposit Product Manager position is a role within Product Management, responsible for leading and executing the end-to-end management of deposit products in support of Atlantic Union's strategy to ensure customer satisfaction, bank profitability, marketplace competitiveness, and compliance with Federal and State bank regulations. S/he will help create an insight driven approach to developing, analyzing, and implementing strategic business processes and plans to support Atlantic Union's product value proposition, capabilities and services to effectively compete in the marketplace. Specifically, S/he will partner across the bank to maximize profitability, increasing market share through deposit growth while executing on the corporate strategy and enhancing the customer experience. S/he will coordinate and manage the internal and external resources required to implement products & strategies.
Position Accountabilities
Product Management - responsibilities include setting product vision, define strategy and develop a roadmap that meets company and client needs for the entire product suite, including Checking, Savings, Money Market, CDs, IRAs, Debit Cards, Fee income and related services.

  • Manage Product Development & Enhancement - identify, evaluate, recommend and implement new products or enhancements
  • Manage Entire Product Lifecycle - manage all products, for and not for sale, from inception through sunset
  • Research Opportunities, Implement New Products & Enhance Existing Products - evaluate and identify product opportunities, analyze the profit potential for making changes, develop and present recommendations to management, coordinate cross-functional teams to develop and implement product, pricing and fee changes.
  • Develop and Manage Strategic Management Reports -identify and develop key performance indicators needed to track key results, trends and to drive desired product performance.
  • Monitor and Analyze Products, Fee Income & Trends - develop periodic reviews to inform management of the trends from an acquisition, attrition, balance, rate, fee income, etc. standpoint for AUB and the industry
  • Monitor and Evaluate Changes in Competitor Product Lines, Pricing and Service Offerings - identify product and pricing opportunities resulting from changes made by Atlantic Union competitors
  • Monitor and Evaluate Regulatory/Legal Changes Which May Affect Products, Services or Fees - identify any product, service or fee changes that may be required due to changes to laws or changes in regulatory direction
  • Support Business Partners Bank-wide - work closely with Systems, Legal, Risk, Compliance, Marketing, Retail, Treasury, Client Care Center, Client Experience, etc. teams to drive product strategy, product development and enhancement strategies.

    Organizational Relationship
    This position reports to the Director of Deposit Product Management.
    Position Qualifications
    Education & Experience

  • Bachelor's degree required, MBA or a master's degree in Marketing or Finance a plus
  • 10+ years' experience in a product management position which required analyzing target markets and business opportunities, developing financial projections to quantify business opportunities, developing and presenting business proposals to senior management, developing and presenting strategic business reports, and managing cross functional teams to implement complex projects successfully, preferably in banking, financial services or a related field.
  • Specific line of business product experience preferred

    Knowledge & Skills

  • Strong conceptual and analytical skills required in order to analyze the market demand, operational requirements and financial viability of raw ideas, concepts and potential strategies.
  • Proven financial analysis skills and experience needed to analyze and develop detailed projections that quantify the market and profit potential of new or enhancements to product, pricing, and services.
  • Strong analytical and organizational skills with ability to multi-task and simultaneously develop, implement and manage (from concept inception through implementation) the multiple product/pricing plans, strategies and timelines required to successfully implement approved changes.
  • Proven experience in directing and working with data and analytics to define and extract key strategic information and develop effective management reporting and relevant insights.
  • Solid understanding of the product regulatory, compliance, and risk environment and the impact on products related to regulatory changes.
  • Ability to direct risk management processes and procedures while demonstrating awareness of expected results.
  • High level of self-confidence and negotiation skills required in order to sell and defend proposed strategies and business plans to senior management and other Atlantic Union teammates.
  • Excellent interpersonal skills including the ability to form great partnerships throughout Atlantic Union to meet project goals, directing without formal authority.
  • Excellent communication, interpersonal and writing skills including the ability to present analytical concepts, results and conclusions in an easily understandable and logical manner to senior level managers.
  • Highly motivated individual / self-starter with ability to take direction and work independently as well as in a team environment
  • Adapts quickly to change, shifting attention and focus on new goals as a result of change, and makes suggestions for increasing the effectiveness of change.
  • High level of proficiency using Microsoft Excel, Word, and PowerPoint (Microsoft Access experience is a plus) to prepare business/product proposals including user-friendly management reports with supporting graphics.

    Salary offered will be based on several factors including but not limited to education, work experience, certifications, etc. This position is also eligible to participate in either an applicable incentive compensation plan for the position or a discretionary profit sharing bonus program. General information on our comprehensive benefits package can be found by visiting https://www.atlanticunionbank.com/about/careers/benefits.
    We are proud to be an EEO/AA, Minority/Female/Disability/Veteran employer. We maintain a drug-free workplace.

Keywords: Atlantic Union Bank, Richmond , Deposit Product Manager (Hybrid), Accounting, Auditing , Richmond, Virginia

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