Deposit Product Manager

$90,126 - $118,285/Yr

Ent Credit Union - Colorado Springs, CO

Full-time - Mid Level

Colorado Springs, CO

Credit Intermediation and Related Activities

About the position

The Deposit Product Manager at Ent Credit Union is responsible for developing, maintaining, and enhancing competitive depository products and services for members. This role involves collaboration with various departments and frontline employees to align product offerings with member needs and organizational goals. The manager will oversee the product lifecycle, conduct market analysis, and ensure compliance with regulations while driving innovation and continuous improvement in deposit products.

Responsibilities

• Develop and manage deposit product strategies, ensuring alignment with organizational goals.
• Oversee the product lifecycle from introduction to retirement, recommending enhancements, and managing growth and maturity stages.
• Lead monthly Deposit Committee meetings, creating business cases, product requirement documents, roadmaps, and launch plans.
• Communicate results in the Deposit Committee and other audiences as requested.
• Work with Finance to manage and create deposit budget balances.
• Collaborate with Treasury to create and refine pricing models for deposits.
• Develop a 3-5 year deposit strategy to ensure long-term alignment with organizational goals and market conditions.
• Work with Marketing to assess competition and review product pricing using market research, cost analysis, and risk modeling.
• Stay updated on economic, financial, and regulatory developments affecting products and services.
• Collaborate with Marketing to develop and execute annual marketing plans, including competitive promotions and campaigns.
• Provide short-term and long-term portfolio forecasting.
• Prepare special reports and analyses as needed.
• Establish product/service goals and work with the frontline to achieve them.
• Serve as a primary point of contact for product-related inquiries and work with colleagues to resolve issues.
• Demonstrate the ability to generate novel product and service recommendations and inspire others to support and implement your vision.
• Analyze product performance, identify trends, and recommend adjustments.

Requirements

• Bachelor's Degree in Finance, Business Management, Marketing, or a related field, or equivalent combination of education and experience.
• 5+ years' experience in product development and lifecycle management, including building segment promotional programs and leading teams.
• 3+ years' experience with forecasting, pricing models, scoring systems, and credit union policies (preferred).
• Knowledge of customer orientation to understand and meet member needs.
• Understanding of credit union deposit products, services, and electronic banking systems.
• Analytical abilities to evaluate product performance, market trends, and financial metrics.
• Strategic planning skills, including the ability to develop long-term product roadmaps and align them with organizational goals.
• Ability to balance risk and reward.
• Adaptability to changing market conditions and organizational priorities.
• Financial management, reporting, balance sheet management, net interest margin, and forecasting abilities.
• Communication, problem-solving, and decision-making skills.
• Knowledge of current trends and best practices in deposit product management and financial services.
• Ability to collaborate with departments such as Marketing, Finance, IT, and Legal.
• Understanding of regulatory and compliance requirements.
• Project management and leadership skills, with the ability to build teamwork and complete projects on time and within budget.

Benefits

• Competitive salary range of $90,126 - $118,285 per year.
• Opportunities for professional development and growth within the organization.