Offer Management Director, Cash Management

T. Rowe Price • Owings Mills, MD

1d • $159,000 - $339,000 • Hybrid

About The Position

The Offer Management Director, Cash Management, serves as the business owner for the default cash position within the firm’s (direct-to-consumer) brokerage offering. The role is accountable for the full life cycle of the cash management offering—from initial design and launch through ongoing management, client retention & growth, and revenue optimization.
This individual owns the offer strategy, client value proposition, economics, and overall performance of the offering. The Director will manage the cash management P&L and pricing strategies, oversee key external partners, and define the supporting capabilities required to build a competitive and sustainable cash management offer.
This is a business ownership role. The Director will establish business requirements and priorities but will partner with digital product and technology leaders who own delivery teams and technical backlogs.

Requirements

• Bachelor's degree or the equivalent combination of education and relevant experience AND 10+ years of total relevant work experience
• Demonstrated experience owning the strategy and financial performance of a complex consumer financial product or offering.
• Strong understanding of product economics, pricing, profitability, balance growth, retention, and client behavior.
• Strong executive communication, stakeholder management, analytical, and decision-making capabilities.

Nice To Haves

• Experience managing brokerage cash sweep, bank deposits, insured sweep programs, money market products, or other retail cash management solutions.
• Experience at a digital-first retail bank, brokerage firm, financial technology company, or consumer financial services organization.
• Knowledge of retail brokerage operations, clearing relationships, partner-bank programs, and third-party vendor management.
• Familiarity with the legal, regulatory, compliance, operational, and disclosure considerations associated with brokerage cash offerings.
• Experience launching and scaling a new financial product from design through implementation and ongoing operations.

Responsibilities

• Own the end-to-end strategy and business performance of the default cash position within direct-to-consumer brokerage accounts.
• Develop the vision, client value proposition, road map, and phased launch plan for the cash management offering.
• Establish how the offering will attract and retain client assets, generate sustainable revenue, and strengthen the broader brokerage relationship.
• Maintain accountability for the offer after launch, including ongoing optimization, competitive positioning, and long-term growth.
• Ensure the offering reflects the firm’s brand, fiduciary standards, client experience expectations, and long-term business strategy.
• Own the P&L associated with brokerage cash balances and related cash management capabilities.
• Develop business cases, financial forecasts, and profitability analyses for new features, pricing changes, and strategic investments.
• Recommend pricing strategies based on market conditions, competitive positioning, client behavior, funding economics, and financial objectives.
• Partner with finance, treasury, marketing, and business leadership to review and approve rate changes, promotional offers, and pricing decisions.
• Monitor the relationship between client yield, spread revenue, balance retention, net flows, servicing costs, and overall profitability.
• Establish processes for responding to changes in interest rates, competitor pricing, client behavior, and market conditions.
• Define the business requirements for a complete and competitive cash management experience.
• Determine the features required to support a healthy cash business, including FDIC-insured sweep capabilities, partner-bank capacity, liquidity, money movement, debit functionality, direct deposit, and other relevant cash services.
• Partner with digital product and technology teams to translate business strategy into client journeys, product requirements, and prioritized delivery plans.
• Evaluate trade-offs among revenue, client yield, convenience, liquidity, operational complexity, and cost.
• Ensure the default cash position is clearly integrated into the broader brokerage account experience.
• Oversee the business relationship with clearing firms, sweep-program administrators, partner banks, and other external providers supporting the offering.
• Maintain sufficient partner-bank capacity and diversification to support client balances, deposit insurance objectives, liquidity needs, and business growth.
• Evaluate partner performance, economics, service levels, operational resilience, and strategic alignment.
• Lead commercial discussions and support contract negotiations in partnership with sourcing, legal, finance, and business leadership.
• Identify and manage concentration, capacity, operational, reputational, and third-party risks.
• Partner with marketing and digital teams to develop clear, accurate, and differentiated positioning for the offering.
• Ensure client communications clearly explain yield, liquidity, deposit insurance, program structure, eligibility, and relevant risks.
• Monitor client feedback, complaints, service interactions, and behavioral trends to identify opportunities for improvement.
• Balance revenue objectives with client trust, competitive value, and the firm’s brand reputation.
• Develop retention strategies for periods of changing interest rates, increased competitor activity, or elevated client cash movement.
• Partner with legal, compliance, risk, and operations to ensure the offering meets applicable brokerage, banking, disclosure, and supervisory requirements.
• Ensure appropriate controls exist for rate changes, bank allocation, client communications, liquidity, reconciliation, operational processing, and vendor oversight.
• Participate in governance and approval processes for new features, material pricing changes, promotions, and external partnerships.
• Proactively identify and address regulatory, conduct, operational, reputational, and financial risks.
• Define the key performance indicators used to evaluate the health and effectiveness of the offering.
• Develop regular reporting for business and executive leadership on financial results, client outcomes, competitive positioning, operational performance, and emerging risks.
• Use performance data and client insights to recommend investments, pricing changes, feature enhancements, and growth opportunities.
• Maintain clear accountability for offer-level results and corrective actions when performance falls below expectations.

Benefits

• Competitive compensation
• Annual bonus eligibility
• A generous retirement plan
• Hybrid work schedule
• Health and wellness benefits, including online therapy
• Paid time off for vacation, illness, medical appointments, and volunteering days
• Family care resources, including fertility and adoption benefits

What This Job Offers

• Job Type: Full-time
• Career Level: Director