Second Vice President, Deposit Product Manager

Overview

At MidWestOne, our people are number one in everything we do. We are a community bank with a culture based on integrity and customer care. The people on our team are the foundation of our success. If you're ready to work for an organization that values you, develops your talents and helps you grow personally and professionally, then look no further.

The Deposit Product Manager is an experienced, strategic, and highly collaborative leader that is responsible for developing new deposit products, aligning products to the bank's segmentation strategy, driving deposit pricing strategy, and growing the overall deposit portfolio. This role will collaborate with internal stakeholders, understand customer needs, and drive innovation of deposit products and services. The Deposit Product Manager will establish a data-centric approach to product development, leverage analytics to determine trends and opportunities, and drive business growth while managing risk and regulatory obligations.

Responsibilities

Leading product development & managing product portfolio:

• Build products from ideation to launch, including market research and competitive analysis to identify trends and opportunities.

• Conduct regular analysis for product improvement and/or additions to the product portfolio, including product pricing and retirement of products to drive simplification of product menu.

• Define product requirements, develop product roadmaps, and oversee product design and development for consumer and commercial deposit products and services.

• Partner with operations, compliance, finance, and technology to ensure an effective and efficient customer experience for new products and services.

• Ensure compliance with established bank policies and procedures, understanding the risk management and compliance requirements, and partnering with risk, legal, and compliance teams to manage the portfolio within the company's risk profile.

• Play key role in product mapping as part of mergers and acquisition team(s).

Managing product launches:

• Oversee product launches, including developing go-to-market strategies, coordinating with marketing and sales under the direction of senior management, ensuring successful product adoption.

• Act as subject matter expert on products, staying up to date on industry trends and best practices, and providing guidance during launches.

• Identify cross-selling opportunities as new products come online and partner with marketing and sales to develop campaigns.

• Provide general sales team support including lead generation, sales presentation development, marketing research and any other support as needed.

Defining and measuring product success:

• Establish product success metrics and regularly monitor product performance against those metrics. Sustain profitability and growth by tracking deposit growth, service adoption, and incentive programs.

• Develop and prepare production reports and analysis for profit centers and management to gauge effectiveness of products, programs, and activity to assess plans and identify new strategies and opportunities.

Qualifications

Bachelor's degree or equivalent combination of post high school education and related work experience.

In addition to education in the field of deposit product management, prefer 5 years of experience in a product management-related role. Banking or financial institution experience is preferred.

The Perks!

• Competitive base compensation with additional performance-based incentives (incentives vary depending on role)

• Career development and continuous learning opportunities

• Paid Time Off, Paid Holidays, Parental/Grandparent Leave, and more

• 100% vested 401(k) Retirement Plan with company match

• Medical, Dental, and Vision insurance

• Flex spending plan & Health savings accounts with employer contribution

• Student Loan Debt Reduction Program & Tuition Assistance Plan

• Employee Stock Ownership Plan

• Employer provided group life insurance with option to purchase additional life insurance for you and your family members

• Employer provided long term and short term disability insurance

• Additional Insurance options to meet your personal needs: Critical Illness and Accident insurance

• Wellness Program

• Free banking services and other financial services discounts

• Take Your Dog to Work Day in June

• Employee Rally Day- a day of celebration and recognition!

We RISE by lifting others. RISE stands for Retention, Innovation, Support, and Empowerment. Through RISE we aspire to create and sustain a culture of diversity, equity, inclusion and belonging at work and in our communities. Our commitment to RISE is reflected in our operating principles, people and culture. We pledge to continuously learn, so we can understand and support the differences of individuals, embrace each other's strengths, and provide opportunities for all of us to work toward and achieve our full potential.

Now that you know more about us and the position, next step is for you apply so we can learn about you!

Created By : Compensation Range