Senior Manager, Consumer Deposit Product and Pricing

Commerce Bank • Clayton, MO

2d • Onsite

About The Position

The main purpose of this job is to manage consumer deposit portfolio and pricing analytics. This role involves managing the consumer deposit portfolio's Profit and Loss (P&L) to meet growth and revenue projections, as well as managing Net Interest Margin (NIM) and Cost of Funds (COF) to corporate objectives. The position also includes chairing the consumer deposit pricing meeting, leveraging analytics for strategic pricing decisions, and developing and managing consumer deposit pricing models. Additionally, the role supports Private Banking with pricing analytics and provides strategic direction to the Wealth Management team. It also involves developing new products, maintaining segment-driven value propositions, and providing industry expertise, product management, pricing analytics, and retail growth strategy. The role requires leading, mentoring, and motivating team members to implement departmental strategy, manage workflow, and provide coaching and development. Essential management functions such as hiring, evaluations, annual increase allocations, and disciplinary actions are also part of the responsibilities. The role requires effective communication of decisions, priorities, and relevant information, as well as supporting budget management and planning.

Requirements

• Expert knowledge of pricing models, and the tradeoff between price and volume, including knowledge of best practices
• Industry expertise in deposit product management and pricing
• Expertise in developing marketing strategy for consumer product
• Understanding of customer segmentation, and developing solutions
• Expert knowledge of the consumer banking industry, including knowledge of best practices
• Ability to successfully lead initiatives, projects and activities that support departmental and organizational goals
• Excellent interpersonal skills, including the ability to work across the organization and interact/influence/negotiate effectively at all levels of management and peers
• Ability to think critically, solve problems, make decisions and build trust across the company and effectively envision, develop, and implement new strategies to address competitive complex business issues
• Strong critical thinking skills with the ability to apply discretion and sound judgement to efficiently and effectively solve problems
• Ability to drive results and balance management of organizational risk and meeting goals of the business
• Strong leadership skills with ability to motivate team members and foster a positive team environment that gives way to collaboration and unified goals
• Outstanding interpersonal and relationship building skills with the ability to effectively communicate with all levels of the company, clearly expressing ideas and concepts both verbally and in writing
• Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values
• Advance level proficiency with Microsoft Word, Excel, Teams and Outlook
• Master’s degree in related field or equivalent combination of education and experience required
• 10+ years retail banking experience required
• 5+ years leadership/supervisory experience required

Responsibilities

• Manage consumer deposit portfolio P&L to meet growth and revenue projections
• Manage Net Interest Margin (NIM) and Cost of Funds (COF) to corporate objectives
• Chair the consumer deposit pricing meeting, leveraging analytics to make strategic pricing decisions and align to corporate objectives
• Develop and manage consumer deposit pricing models
• Support Private Banking in pricing analytics and provide strategic direction to Wealth management team
• Develop new products, and maintain segment driven value propositions
• Provide thoughtful industry expertise, product management, pricing analytics, and retail growth strategy
• Lead, mentor and motivate team members to implement the department strategy and manage department workflow with guidance on departmental projects/issues, and provide coaching and development opportunities appropriate to each direct report's individual needs
• Perform all necessary management functions, including hiring, evaluations, annual increase allocations and disciplinary action as required
• Communicate decisions, priorities and relevant information to team members effectively
• Support budget management, planning and expenditure
• Perform other duties as assigned

Benefits

• employer sponsored health, dental, and vision insurance
• 401(k)
• life insurance
• paid vacation
• paid personal time
• career development
• education assistance
• voluntary supplemental benefits

What This Job Offers

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