Sr. Product ManagerStart Application Job ID MAPS-8014 CityLos Angeles StateCalifornia Exempt/Non ExemptExempt ShiftDay Work Schedule8-5 M-F
This position is part of the Product Strategies team, which is responsible for managing $6 billion of checking, savings and time deposit products. This highly visible position reports to the Group Manager for Deposit Products and is a key role to formulate and implement CNB's interest rate strategy for both personal and deposit products. The Deposit Pricing Manager is accountable for both short term and long term growth and profitability of the bank's interest rate strategy. This role is also responsible for analysis of deposit balance trends, and design and implementation of Deposit Pricing strategy. This person will closely monitor market trends for any pricing changes or new product introductions as well as understanding and incorporating economic analysis that could impact deposit pricing strategy.
- Assist in strategic management of Deposit Margin and Interest Rates for Money Market, CD, and savings accounts
- Understand and account for differences in consumer and business client behavior and expectations that affect banking products/services and interest rates
- Work closely with the bank's Treasury Department, as well as Treasury Services, and Finance teams on interest rate and liquidity risk positioning
- Establish tools and procedures to perform "what if" analyses of various interest rate scenarios and their impact to the portfolio; evaluate systems or vendor packages to automate such analyses
- Conduct on-going monitoring and analysis to identify root cause(s) of portfolio changes
- Design, implement and analyze Deposit Pricing alternatives incorporating market and client segmentation strategies
- Provide direction and recommendations for pricing, promotions and training programs for sales and relationship management teams
- Extract information directly from the corporate data warehouse and other systems in order to support analyses
- Document actions taken to comply with Audit requirements
- Update rate sheets and other marketing and promotional material
- Manage exception interest rate plans and related policies and procedures
- Monitor competitor rate movements, special advertisements, and product launches
- Translate business opportunities, client needs, and business goals into a sound product and pricing strategy
- Create and present strategic analytical documents for senior management
- Ensures compliance with all control objectives from internal Bank areas including Risk, Compliance, and Legal, and from external governing bodies such as the Consumer Finance Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve Board (FRB).
- Perform ad hoc analysis to solve key business questions; respond promptly to Line questions and issues affecting clients
- Perform other tasks as necessary to support personal or business products and/or initiatives
- Establish effective working relationships with line of business colleagues, product managers and subject matter experts
- *Minimum of 7 years or more of experience with specific industry expertise or more similar role including Product, Risk, Audit or Marketing Analytics or reporting
- *Minimum of 3 years of banking experience
- Expert knowledge of interest rates, pricing and sensitivity analysis
- Master's degree: MBA, MS Economics, or similar degree preferred
- Excellent analytical skills, advanced excel and database skills (pivot tables, formulas, visualizations)
- Comprehensive knowledge of financial analysis, accounting and fixed income valuation
- Highly efficient and able to work accurately with large datasets
- Ability to work and quickly adapt in a very fast paced and high pressure environment
- Demonstrated ability to develop solutions to highly complex and diverse problems
- Understand deposit valuations and cost of funds methodologies
- Confident oral and written presentation skills in dealing with Senior and Executive Management
*Represents the basic qualifications for the position. To be considered for this position you must at least meet the basic qualifications.
City National Bank is an Equal Opportunity Employer -- Minorities/Females/Individuals with Disabilities/Veterans.
Note: The Preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Note: Candidates should be advised that City National Bank does not pay interviewee travel expenses or relocation expenses for candidates who are hired unless previously agreed.
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