The Head of Deposit Strategy is responsible for the deposit and payment products in their assigned business area. The goal is to meet customer financial needs while delivering cost-effective and sustainable growth and retention in support of Valley's strategic objectives. This position will be handling consumer products.
40 hours, including Saturday.
Responsibilities include but are not limited to:
- Identify market opportunities and customer needs to improve existing products and develop new services and products.
- Manage the complete product lifecycle, from initial research to launch and post-launch evaluation.
- Establish product strategy and manage goals for product promotions and sales campaigns along with tracking and reporting campaign performance to inform next actions.
- Manage the overall product portfolio P&L to ensure that new account growth, attrition, net growth, cross sales and both product and portfolio profitability to support the bank's overall balance sheet and income goals.
- Monitor and forecast customer acquisition, adoption and usage of products and services across all channels to identify gaps and develop appropriate strategies to close gaps.
- Collaborate with development, design, and operations teams to ensure the delivery of high-quality products.
- Ensure effective promotion and marketing of products in coordination with sales and marketing teams.
- Monitor competitive features, offers and pricing to ensure products are designed, positioned and priced appropriately.
- Use in-depth analysis to develop clear and persuasive business cases that help drive key business decisions.
- Establish and maintain strong working relationships with key partners (including Retail Sales, Customer Care, Marketing, Legal, Risk, Compliance, Technology, Operations, Data & Analytics).
Required Skills:
- Proven track record of working cross-functionally to lead successful product development initiatives.
- Knowledge of deposit risk, payment risk and fraud risk management along with compliance requirements for regulated financial institutions.
- Excellent verbal, written, and presentation skills (ability to convey complex materials to senior leadership).
- Strong problem-solving, analytical and strategic thinking skills with a history of using data for decision making.
- Strong organizational skills and detail-orientation.
- Excellent problem-solving skills and ability to prioritize issues and analysis.
- Demonstrated success working within and leading cross-functional teams without formal authority.
- Proven interpersonal and relationship building skills with the ability to collaborate and build credibility across multiple lines of business.
- Ability to successfully juggle multiple priorities within a fast-paced, results-oriented environment.
- Self-starter and solutions driven with a willingness to learn and adapt to new responsibilities and the ability to perform with a high degree of authority and autonomy.
- Experience with using data analytics tools, including Amplitude, PowerBI, Excel.
Required Experience:
- Bachelor's degree in Business, Marketing, Technology or a related field.
- Minimum of 7 years of product management experience, with a focus on product strategy and execution within financial services organizations.
- Demonstrated experience in developing and launching financial products within assigned business area.
- Proficiency in defining, owning, and enhancing KPIs for product performance, driving continual improvement and, ultimately, product success.
- Previous experience developing strategy for financial products and services.
Preferred Experience:
- A proven track record in a fast-paced startup-like environment, with experience in a mid-size organization undergoing rapid transformation.
- A master's degree.
Exact compensation may vary based on skills, experience, and location: $125,100.00 - $223,900.00.
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