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Company

Quorum Federal Credit Union · 15 hours ago

Director of Deposits - REMOTE

United States

Full-time

Remote

Director/Executive

$175K/yr - $188K/yr

10+ years exp

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Comp. & Benefits

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Responsibilities

Defines, communicates, and executes the overall deposit objectives and goals, focusing on achieving necessary growth while lowering the cost of funds by optimizing rates, product mix, and B2B partnerships. Demonstrates strong ability to digest complex funding strategies and translate them into actionable plans.

Collaborates with senior leadership to assist in developing and refining deposit product strategies, ensuring alignment with overall business objectives and market trends.

Partners with key stakeholders including deposit operations, marketing, treasury, and business development to develop and execute innovative and digital product roadmaps that drive revenue, improve member engagement, optimize operations, and enhance business value, particularly focusing on cost-effective funding strategies.

Works hand-in-hand with the business development team to identify and capitalize on growth opportunities, ensuring deposit product strategies align with and support overall business growth initiatives.

Utilizes advanced data analytics and performance metrics to measure member experience and success in acquisition, cross-sell, and retention. Reviews metrics and key performance indicators to prioritize opportunities and areas lacking performance. Leverages data insights to recommend targets and strategies that meet or exceed performance goals, with a focus on cost-effective deposit acquisition.

Manages the deposit product set through its full lifecycle, from conception to sunset. Ensures maintenance of key deposit information including product specification, disclosures, job aids, and related fees schedules.

Successfully aligns online and mobile user experience across all deposit product offerings by increasing digital application usage and engagement.

Conducts research and analysis to develop and present recommendations on deposit products, pricing, promotions, and partnerships. Develops innovative, technology-driven deposit products that reduce reliance on interest rates while aligning market trends with insights from existing members and target market to support strategic objectives.

Leads cross-functional internal teams, including Operations, Compliance, Legal, Risk, Marketing and Digital departments to deliver new deposit programs, channels and products.

Works directly with digital transformation and marketing to enhance online and mobile customer experience and engagement including increasing online application start and completion rates, driving member cross sell and member acquisition. Balances member experience with operational efficiency and organizational risk.

Ensures all deposit products and strategies comply with relevant regulatory requirements, working closely with the Compliance and Legal teams to navigate the complex regulatory landscape of financial services.

Collaborates with the Risk Management team to identify, assess, and mitigate risks associated with new and existing deposit products, ensuring a balance between innovation and risk management.

Qualification

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Product managementDigital productsData analyticsDigital product roadmapFinTechECommerceDigital salesAgile managementBanking digital productsRisk managementCustomer behavior analysisStakeholder engagement

Required

Bachelor’s degree required, preferred in areas of Finance, Accounting, Economics, or Marketing; MBA preferred.

Minimum of 10 years of experience at a financial institution, with hands-on experience in product management, digital products, FinTech, eCommerce and/or digital sales preferably in Financial Services and/or Start-up.

Proven ability to manage the executional aspects of product development and enhancement initiatives.

Demonstrated thought leadership in the digital space.

Knowledge of product design and development best practices with experience in managing agile, lean, cross-functional teams, often through influence.

Possesses strong data analytics skills, specifically in relation to deposit product performance and customer behavior analysis.

Experience in working and leading cross-functionally with stakeholders, including users, developers, business leaders and executives to generate buy-in for product direction.

Successful track record in developing and implementing a digital product roadmap.

Intellectual agility and a high degree of comfort with ambiguity. Innovative thinker with a history of challenging the status quo and devising creative solutions to solve problems.

Sophisticated business sense and understanding of underlying drivers.

Experience in working with fintech partnerships or digital banking platforms.

Strong communication and written presentation skills with experience effectively communicating with diverse audiences, including senior leadership.

Good knowledge of the banking digital products market, competitive landscape, and latest trends.

Ability to independently manage multiple dependencies, secure commitments and drive escalations.