Pricing Strategy & Value Management Leader

Job Title

Lead pricing management function in support of Retail Bank branded lending products.

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. Develop pricing insights to inform pricing strategy and set pricing recommendations for the line of business: monitor profitability of current pricing, track competitive pricing moves, develop recommendations based on business goals and competitive market.

2. Manage trade-off of profitable volume growth (ROA and volume): develop and apply pricing modeling including client elasticity to pricing changes, update profitability inputs, provide estimates for pricing trade-offs. Ensure strong partnership and alignment with credit risk and credit analytics for all pricing activities to ensure effective pricing for credit risk through the credit risk cycle (includes evaluation of stressed profitability performance scenarios).

3. Develop pricing test strategies and optimize scalable learnings: work closely with product team to design tests to evaluate new strategies, then track and monitor for performance and future implementation.

4. Partner with product, finance, risk, capital markets, and channel partners to leverage and build pricing as a strategic tool and competitive advantage to optimize profitable growth: lead the pricing working group, a cross functional team to evaluate and implement pricing changes.

5. Track market share and competitive position: manage relationship of market data vendors, track and report pricing and major market changes, use results of competitive data to guide pricing changes.

6. Lead value proposition analysis including consumer research including priority client segments to rationalize pricing and product feature decisions and provide recommendations to the line of business.

7. Lead coordination for pricing review, business governance business, pricing implementation, pricing systems, and business/technical pricing system requirements for pricing capability enhancements (MSA level pricing, other new analytic tools).

8. Have deep understanding of Retail bank secured and unsecured lending products (features, functionality, market positioning, and regulatory requirements) to support pricing guidance and market pricing strategies and tactics.

9. Develop and execute pricing to support product growth and profitability: Leverage pricing to support product financial objectives, execute consistent monitoring and assessment of pricing impacts on product performance and trends.

10. Utilize competitive market intelligence to maintain an acute awareness of the competitive landscape, trends, and emerging technology. Seek consumer feedback to develop an understanding of consumer behavior, needs, and expectations.

11. Foster and maintain strong, working relationships with key partners and stakeholders; including treasury, finance, risk, marketing, operations, technology, accounting, legal, and compliance.

12. Effectively work with and administer pricing to be compliant with regulatory, legal, compliance, business governance, change management, and internal bank quality management reviews for lending solutions: product suitability, vendor management, Fair Banking, Reg U, Reg Z, MLA, others.

13. Manage and implement cross business pricing and change control initiatives. Provide leadership and influence with key partner groups to gain alignment and support multi-stakeholder interests.

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 degree or higher

2. 7+ years' experience in Banking, Lending, or Credit card product and/or pricing experience

3. 7+ years' experience in pricing or analytics role

4. 7+ years working in or supporting product management in a direct to consumer business

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

Preferred Qualifications:

1. Master's Degree in quantitative field such as economics, statistics, mathematics, or finance.

2. Strong analytical skills with experience with pricing and elasticity modeling

3. Strong communication skills (written and verbal)

4. Demonstrated collaboration and ability to influence business partners across multiple stakeholder groups

5. Experience with Consumer Lending product management a plus