Deposit Product Manager - Consumer Deposit Solutions: M & T Bank

Deposit Product Manager /Consumer Deposit Solutions- M&T Bank, Buffalo, NY

Responsible for providing the strategic direction for multiple product lines and/or services for major existing or new market segment(s). Designs product, and develops market strategies (i.e. advertising, pricing, expense planning, profit plans, packaging, future products etc.) and goals and assures successful implementation; monitors the achievement of such goals. Formulates and implements policy and procedures. Specifically responsible for acquiring, augmenting and retaining customer households in key targeted segments through a solution orientation; focusing on deposit pricing to promote household growth and expansion while optimizing margin based on competitor analysis, funding and customer elasticities. Oversees optimization of deposit fee revenue given customer needs and pending legislation changes. Ensure integrity of deposit products, manages financial and risk metrics, provides governance and project management. Develops strategy and seeks out opportunities to grow and expand households. Ensures that application of M&T leadership, values and commitment through direct and indirect managers. May have profit/loss responsibility for the product.

Essential Position Responsibilities

Sets strategic direction for assigned product lines, and presents business plans to senior management and employees. Create and enhance the product offerings.

Deliver the solutions through all channels providing a seamless customer experience

Work with other product areas to augment the solution set. Develop positioning strategies for each target customer segment. Be accountable for HH contribution and growth of the various segments.

Manage the portfolio through balance volume, mix and interest rates optimizing current fee revenue. Optimize balances and NII based on competitor analysis, funding and customer elasticities. Search for and develop new sources of fee revenue. Ensure product/pricing optimization between customer segments. Provide overall governance to forecast balances and NII accurately. Manage bonus interest to enhance customer service while maximizing revenue. Work with key partners to provide coordinated approach. Directly responsible for product pricing, cost structure, as well as identifying and mitigating product risk. Responsible for all product financials including revenue planning and product profitability.

Develop and report key metrics regarding deposit and checking households, ensuring comprehensive planning and reporting. Create business case financials based on the recommendations of the Customer Solution Managers. Create and maintain operating procedures. Manage vendor relationships.

Responsible for sales channel strategy. Review new developments in company markets, evaluating and recommending new services, new products or geographies, or the modification of existing services or products. Evaluate new product/services success; implement and manage changes in service or marketing strategy. Incorporate segmentation into product offerings as well as long term customer value into our business model.

Manage all aspects of new product implementation and existing product modification to include but not limited to the design and development of services, portfolio acquisition and process improvements; act in a liaison capacity with affected departments.

Establish marketing objectives; work with other bank departments to develop effective programs to sell services/products. Understand the current and future needs of each customer grouping

Ensure product/services are marketable, profitable and comply with legal and regulatory requirements. Work with other product areas to augment the solution set

Maintain an awareness of new trends and developments in marketing and company products and services. Develop and provide ongoing group and individual training for staff in regard to presentation skills, product knowledge and best practices and procedures.

Exercise the usual managerial authority with respect to hiring, termination, performance evaluations, and salary recommendations. Provide coaching, mentoring and feedback to direct reports.

Nature and Scope

Results and/or actions impact the bank’s long-term operations, revenues or profitability. The incumbent has extensive contact with other bank departments for the effective and profitable marketing of new products and the enhancement of existing products.

Champion strategies and development of new and improved processes that support business growth, organizational efficiencies and customer service objectives.

Oversee and evaluate high-level processing key performance indicator models and develop reporting to manage business function processes effectively.

Supervisory Responsibility

This position is responsible for 5-15 FTEs, managing a staff of professional level employees directly/indirectly.

Minimum Qualifications

Bachelor’s degree, or in lieu of degree four to five year’s progressive product management experience.

Masters degree preferred.

Ten years experience in marketing, bank operations, credit analysis, or relevant product line(s).

Seven years managerial/project management experience (in relevant product line(s).

Technical Skills

Extensive knowledge of bank/PC software programs utilized by the division.

Strong Financial analysis skills, to include cash flow, components of product profitability.

Excellent developmental, analytical and research ability.

Other Job Information

The incumbent should bring an extensive network of industry and client contacts on a national scale. Must possess industry specific knowledge and extensive market intelligence.

Excellent verbal and written communication and formal presentation skills.

Ability to interact professionally with all levels of personnel, including senior management.

Strong developmental and research ability.

Self-motivated, well-organized individual. Must be action oriented. Ability to work under critical time constraints. Must demonstrate principled leadership and sound business ethics.

Dedicated Customer Service Focus. Superior interpersonal skills. The ability to interact professionally with all levels of personnel, including senior management. The incumbent interacts extensively with both internal and external contacts.

Must possess superior ability to use expert resources when necessary.