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Deposit Product Manager in Lynn, MA at Eastern

Date Posted: 6/27/2018

Job Snapshot

Job Description



When you join Eastern Bank, you join the largest and oldest mutual bank in the country.We pride ourselves in having knowledgeable and experienced professionals that can provide the expertise, personal attention and service our customers deserve.
 
As the fourth-largest full-service commercial bank in Greater Boston, we are able to offer you unique opportunities for career growth throughout the organization, as well as a competitive compensation and benefits program.
 
As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us.
 
The Deposit Product Manager is responsible for the planning and management of Eastern’s deposit products.  Key responsibilities include optimizing product profitability, identifying new opportunities and implementing agreed upon initiatives.  The position is also responsible to be the deposit subject matter expert for other areas of the bank and to oversee problem resolution as needed.
   
In this role, you will be responsible for the following:



  I.          Optimize performance of Eastern’s consumer deposit products.
  • Develop and implement rate strategies for retail banking.
  • Analyze product profitability and performance and implement strategies for improvement.
  • Analyze effectiveness of existing products in meeting customer needs.
  • Stay abreast of market trends and changes including evaluation of competitive offerings and customer / market needs.
  • Recommend new products / enhancements / processes / pricing; build consensus in the organization; make solid business case to senior management.
  • Implement new products / enhancements / processes / pricing and coordinate with retail, call center, operations, risk, legal,compliance, technology, training and other internal groups as needed to ensure smooth introduction and organization alignment. 
II.          Oversee the day to day management of consumer deposit products.
  • Prepare rate analysis for ALCO and implement rate changes as needed
  • Work to resolve problems/issues as needed.
  • Identify, introduce and manage selected third-party partnerships as needed 
  • Update customer agreements, marketing collateral and internal product resources as needed.
III.          Serve as deposit product subject matter expert
  • Work with other areas of the bank to define deposit product requirements for other products/channels (such as Online/Mobile, Online Account Opening).
  • Work with Marketing on any product related campaigns.

Job Requirements

Education and Experience 
 
  • Bachelor’s degree required; MBA preferred
  • 8+ years of experience in deposit product management and pricing preferred
  • Financial analysis and project management experience required
  • Strong interpersonal skills and ability to work with cross functional teams
Skills/Knowledge
  • This position requires someone who is both a thinker (proactively suggests new ideas) and a doer (implements those ideas)
  • Solid analytical and data mining skills
  • Excellent verbal and written communication skills
  • Requires strong interpersonal skills and the ability to build relationships within and across teams
  • Must have attention to detail and strong project management skills
  • Ability to manage multiple tasks concurrently
  • Interest in staying on top of industry trends and opportunities
  • Ability to work independently
  • Strong familiarity with Excel; ability to learn other reporting tools