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 tailored to the needs of members. This role involves strategic planning, market analysis, and collaboration with various departments to ensure product alignment with organizational goals and member satisfaction. The position requires oversight of the product lifecycle, from introduction to retirement, and includes responsibilities such as managing product strategies, conducting market research, and supporting marketing efforts.

Responsibilities

• Develop and manage deposit product strategies aligned with organizational goals.
• Oversee the product lifecycle from introduction to retirement, recommending enhancements and managing growth stages.
• Lead monthly Deposit Committee meetings, creating business cases, product requirement documents, roadmaps, and launch plans.
• Collaborate with Finance to manage and create deposit budget balances.
• Work 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.
• Assess competition and review product pricing using market research and cost analysis.
• Stay updated on economic, financial, and regulatory developments affecting products and services.
• Coordinate product reviews and research with Marketing to ensure alignment with market needs and trends.
• Provide short-term and long-term portfolio forecasting and prepare special reports as needed.
• Serve as a primary point of contact for product-related inquiries and resolve issues with colleagues.
• Demonstrate the ability to generate novel product and service recommendations and inspire others to support your vision.
• Adhere to Ent policies and procedures, and regulations pertaining to the Bank Secrecy Act.

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.
• 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 to develop long-term product roadmaps.
• Ability to balance risk and reward and adapt to changing market conditions.
• Financial management, reporting, balance sheet management, net interest margin, and forecasting abilities.
• Strong communication, problem-solving, and decision-making skills.
• Ability to collaborate with departments such as Marketing, Finance, IT, and Legal.

Nice-to-haves

• Knowledge of current trends and best practices in deposit product management and financial services.
• Project management and leadership skills, with the ability to build teamwork and complete projects on time and within budget.
• Negotiation skills to manage vendor relationships and secure terms.

Benefits

• Competitive salary based on experience and skills.
• Opportunities for professional development and growth within the organization.