Product Manager

Deposit Product Manager III

In accordance with Truist in-office expectations, this role will be in office 5 days/week. The CSBB Deposits team has management and P&L responsibility for a significant portfolio that generates a large share of revenue for the Truist enterprise, including net interest income and fee revenue. The team develops and drives deposit and debit product strategy, design, development, launch, execution and ongoing management to meet financial and client objectives. The team works closely with multiple business partners including Corporate Treasury, CSBB Strategy, Marketing, Sales Channels, Service Channels, Operations and Technology to support high level execution. The team also works closely with Legal, Risk and Compliance partners to ensure that all aspects of the business meet appropriate standards. The Deposit Product Manager III is responsible for designing and driving the strategy and performance for a set of deposit or debit products responsibility through benchmarking, innovation and economic analysis. They have full ownership and decision-making authority for the products or programs they are assigned to manage. Responsibilities may include project management, in-depth analytics, presentations, supporting and/or leading strategic initiatives and shaping business/system requirements. This role is highly cross-functional and must partner with various groups to advocate for the strategy and roadmap of deposit and debit products and services and ensure key performance objectives are met on an ongoing basis. This role will keep a pulse on the market and propose innovation and new opportunities for leadership.

Essential Duties And Responsibilities Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.

1. Responsible for product management for a set of deposit or debit products. Responsibilities include financial performance, product design, product development, distribution and pricing.

2. As a senior product manager, actively mentor and informally coach other product managers and analysts.

3. Determine and deliver financial targets for sales production, balance growth, client acquisition, client retention, net interest income, fee revenue and overall revenue. Monitor performance in all of these categories. Monitor and adjust product pricing, including rates, fees, waiver policies/practices, etc. to optimize performance. Identify and manage key drivers. Understand and react to economic impacts. Identify and execute improvement opportunities.

4. Serve as a Deposits SME on projects that support profitable growth, operational soundness, or regulatory compliance for deposit & debit products, fees or services.

5. Create a strategic roadmap for the product launches and enhancements across the product set. Design, build and launch new products and product enhancements to meet client needs and improve Truist competitive position, profitability and risk profile. Retire and sunset products that are outdated.

6. Partner closely with Marketing team to design and execute marketing, promotional and sales campaigns to drive client acquisition, deepening and retention through broad range of distribution channels including branch teammates, direct mail, digital marketing and outbound calling.

7. Monitor client and teammate experience through surveys results, complaints reviews and teammate feedback. Identify process improvements to improve client and teammate experience. Work with Channel Leaders, Complaints partners, and Enablement teams to research and resolve client issues and create product and process documents to assist in teammate training.

8. Build and maintain strong partnerships with key functional leaders. (Marketing, Legal, Risk, Compliance, Distribution, Servicing, Operations, Analytics, Technology, etc.) Lead and influence cross functional teams across marketing, distribution and service channels, operations, technology, legal, risk, and compliance in an ongoing mission to optimize products/services, client experience, and financial return in a consistent manner with corporate strategies. Ensure compliance with the broad range of regulations that apply to consumer and small business banking and/or debit card payment solutions.

9. Maintain a broad and deep understanding of clients and their financial needs, using client analytics, industry research, industry news, market research, focus groups, and branch teammate feedback. Ensure product strategy is aligned to emerging client needs.

10. Monitor industry trends and competitive intelligence to understand strategies and tactics used by banks, fintechs, and other emerging competitors to deliver deposit and debit products to consumer and small business clients. Ensure product set is well-positioned vs. competitors.

Qualifications Required Qualifications: The requirements listed below 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.

1. Bachelor's degree in a business-related major with a strong academic record, or equivalent education and related training

2. 10+ years of work experience within Banking or Financial Services

3. 5+ years of experience in a staff role such as product management, product strategy, analytics or marketing.

4. Outstanding influencing, partnership-building and collaboration skills with proven ability to drive strategic change on major projects.

5. Exceptional analytical and creative problem-solving skills - ability to generate actionable insight and recommendations from complex analytics and large data sets. Demonstrated strategic thinking, problem-solving, and decision-making skills

6. Demonstrated success working within and leading cross-functional teams of senior leaders without formal authority

7. Excellent written and verbal communication skills. Ability to succinctly and clearly convey conclusions and recommendations to senior leadership.

8. Ability to successfully handle multiple priorities within a fast paced, results-oriented environment and make decisions on where to focus efforts

9. Ability to work with a high degree of autonomy in ambiguous and changing situations to manage results and meet deadlines with superior quality.

10. Demonstrated ability to identify and manage key risks and to work effectively with risk leaders.

11. Ability to guide and manage third party vendors on matters including contract negotiations, continuous improvements, ongoing monitoring and partnership activities

12. Demonstrated proficiency in basic computer applications, such as Microsoft Office software products.

13. Ability to travel, occasionally overnight

Preferred Qualifications:

1. Master's degree

2. 7+ years combined experience in consumer banking, small business banking, debit, or payments

3. Broad and diverse experience in marketing, finance, acquisitions, product development and analytics.

4. Broad experience across channels, including branch leadership experience.

5. Leadership experience in the Product Management lifecycle including idea generation, developing, implementing and managing products and services

6. Experience providing leadership and guidance to analytics efforts

7. Project Management experience