Deposit Product Manager (onsite)
6562d550-ec85-421d-ae33-3c3883974333:19000101_000001 · Newtown, CT, US ·
- Employment
- Full time
- Category
- Product
- Experience
- 3+ years
Location: Newtown, CT
Newtown Savings Bank is seeking an experienced banking professional with 3 to 5 years of progressive industry experience to join our Retail Banking team as a Deposit Product Manager. The Deposit Product Manager is responsible for leading the strategy, performance, and optimization of consumer and business deposit products. This role ensures all offerings align with client needs and support the Bank’s financial objectives.
Serving as the subject matter expert for the deposit portfolio, the Deposit Product Manager partners with Retail, Commercial, Marketing, Operations, Technology, Finance, and Risk/Compliance to manage product lifecycles, develop pricing strategies, and execute enhancements across branch and digital channels. Lead the development of deposit product and service reporting and management information, collaborating with business partners and subject matter experts to ensure accuracy, relevance, and actionable insights.This role would influence senior leaders by analyzing product performance, monitoring market trends, and recommending strategic changes that balance competitiveness, profitability, and regulatory requirements.
This is an onsite opportunity at our corporate office in Newtown, CT. The role has a remote option of one day per week.
PRIMARY RESPONSIBILITIES
Deposit Product Leadership:
- Identify key challenges and opportunities impacting the deposit portfolio.
- Assist with driving deposit portfolio performance including product innovations, balances, households, profitability, retention, account acquisition, and customer engagement metrics.
- Serve as a member of the Deposit Pricing Committee, to assist with driving deposit rate and fee strategy.
- Analyze the Deposit portfolio performance, customer behavior, and market trends to develop actionable insights and recommendations and influence senior leadership.
- Collaborate with cross-functional leaders to develop and execute solutions that lead to deposit growth, customer growth and retention.
- Collaborate closely with stakeholders in the deposit business including but not limited to Marketing, Finance, Risk/Compliance, Retail Sales and Operations to ensure products are designed and delivered with a customer first mentality, adhere to strict compliance guidelines, and are aligned with the Bank’s strategic objectives. Develop an understanding of key drivers of profitability and identify and advocate for actions to enhance profitability and active funding goals.
- Collaborate with Retail Banking, Customer Service Center management, Deposit Operations, Compliance, Marketing, and frontline stakeholders to ensure seamless, customer-focused and employee-friendly workflows that support business objectives and regulatory requirements. Instill energy to ensure that there is a high level of enthusiasm for the Bank’s deposit product line and that staff are trained and motivated to identify and act on opportunities to expand customer relationships.
- Oversee product lifecycle management, including enhancements, modifications, and retirements.
- Ensure that the Bank’s deposit products are designed to achieve corporate goals and objectives. Initiate and build consensus around potential modifications to the product line and oversee efforts to implement changes.
- Provide recommended inputs for financial and operational planning to support the budget and planning process and identify and track metrics to ensure achievement of deposit growth priorities.
- Monitor competitor pricing, product features, and industry trends to identify opportunities and recommend strategic actions that support deposit growth and client acquisition.
- Prepare and present presentations for leadership, committees, branch management forums, presenting complex information into clear and strategic narratives that support decision-making, drive alignment, and influence business outcomes.
- Support consumer and business account opening across digital and branch channels, ensuring efficient, compliant, and competitive deposit account onboarding that enhances customer satisfaction and drives account growth
- Partner with technology providers, core system teams, and digital banking vendors to implement product enhancements and optimize customer and employee experiences.
- Ensure that efficiency within your functional areas of responsibility is consistent with or better than peer organizations and other industry competitors by remaining abreast of industry trends and taking action when appropriate. Oversee the identification and implementation of efficiency opportunities within your area and in collaboration with other areas.
POSITION REQUIREMENTS
- Bachelor’s degree in business, Finance, Economics, Marketing, or related field; advanced degree preferred.
- 3 to 5 years of progressive experience in retail banking, deposit product management, consumer banking, digital banking, or related financial services disciplines.
- Strong communication skills and the ability to positively influence and interact with branch, Customer Service Center, and senior managers within the organization.
- Strong administrative/technical skills and the ability to manage in a matrix environment.
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Full-time employees also receive a complete benefit package including a generous 401(k) with employer match, medical, dental, and vision benefits, paid time off, paid holidays, incentive compensation, short- and long-term disability programs, and other fringe benefits.
Newtown Savings Bank is an equal opportunity employer and complies with affirmative action programs for qualified veterans and individuals with disabilities. Newtown Savings Bank shall not discriminate against any employee or applicant for employment based on race, color, religion, gender, age, marital status, national origin/ancestry, sexual orientation, gender identity, disability status, protected veteran status, or any other legally protected status.