PRIMARY PURPOSE OF JOB
This position is responsible for the strategy, development, and performance of deposit products, ensuring they meet customer needs, comply with regulations, and achieve performance goals.
EXPECTATIONS OF ALL SOUTHERN BANK TEAM MEMBERS
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Southern Bank team members exhibit Southern Bank’s values, which can be remembered with the acronym FIRSTS. We teach our team members about our “values in action,” which give further examples of how we can live out Southern Bank’s values.
- We act as a FAMILY – We know we’re not a related family, but we really care about people, both personally and professionally. We like knowing that our skills, our time, and our efforts contribute to the overall success of those we spend time with every day.
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We move with INNOVATION – We push for better ways to solve problems. We are not afraid of a challenge; we’re driven to develop new ideas and solutions using creativity and experience. We are committed to leading, devising new solutions for all kinds of obstacles.
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We are ROOTED – We’re from here. These communities are our homes, and we are deeply invested in making our hometowns the best that they can be. We are firmly committed to success in the places where we’ve known people our whole lives.
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We prioritize SERVICE – We put others above ourselves. We make intentional decisions and take action to benefit others, be it in our daily work with our customers and fellow team members, or in volunteering our time, money, and energy in our communities.
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We build TRUST – We strive to be reliable and trustworthy, honest and transparent. We are dedicated to doing what’s best for our team members, our customers, and our communities, and they can be confident that we are who we say we are.
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We are a source of STRENGTH – We have a capacity and resilience that has come through years of experience and growth. We are able to support those who count on us, and those who need us can rely on us.
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Ensures the confidentiality of customer non-public personal information and secures information systems to comply with bank regulations.
ESSENTIAL FUNCTIONS AND PERFORMANCE AREAS
Product Strategy and Development:
- Defines deposit product vision and strategy aligned with the Bank’s Strategic Plan, performance goals, and customer needs;
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Conducts market research, competitor analysis, and identifies customer pain point to inform product decisions;
- Develops new deposit products or enhancements to existing ones;Manages ancillary third party retail products offered to our customers such as Clover, Credit card, check providers and others; and
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Performs other duties as assigned.
Cross-Functional Collaboration:
- Work with IT, operations, compliance, and marketing to ensure deposit products are secure, scalable, and user-friendly;
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Coordinate with stakeholders for testing, training, and rollout of new or changes to deposit products;
- Support front line, customer contact center, video banking and ITM teams by providing product expertise and assisting with complex customer implementations; and
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Participates in deposit strategy and the development of team member’s scorecards.
Regulatory Compliance and Risk Management:
- Ensure all deposit products comply with banking regulations, industry standards, and internal policies; and
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Monitor regulatory changes and adjust deposit product features accordingly.
Performance Monitoring and Optimization:
- Track performance metrics, adoption rates, revenue contribution, and customer satisfaction;
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Gather customer feedback and refine deposit products to enhance usability and profitability; and
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Conduct pricing reviews and manage service charges to optimize revenue.
Customer Engagement:
- Define customer personas and streamline onboarding processes;
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Act as subject matter expert for complex customer relationships and escalated support issues; and
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Participate in industry events to stay current in trends and innovations.
Vendor & Contract Management:
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Manages service providers for deposit related systems and services; and,
- Negotiates contracts, manages vendor performance, and ensures service level agreements (SLAs) are met or exceeded.
KNOWLEDGE, SKILLS AND ABILITIES
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Proven analytical ability (data mining/manipulation, forecasting);
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Must have the appropriate income/expense management and analytical capability to translate hard data into strategic plans;
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Demonstrated ability to quickly analyze situations and risks, determine paths of action, and execute flawlessly;
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Excellent skills with MS Word, Excel and PowerPoint;
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Candid and concise communication skills; and,
- Must be savvy and passionate about driving results and innovation.
EDUCATION, TRAINING AND EXPERIENCE REQUIREMENTS
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5+ years of product management experience; and,
- Bachelor's Degree preferred,
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Experience in project planning and management, with the ability to manage multiple projects in a fast-paced environment and meet deadlines; and,
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Experience with, and a strong understanding of, consumer and commercial retail products, treasury management products as well as non-interest income management.
CORE COMPETENCIES
Exhibits Southern Bank’s values, as further described through our values in action.
Building Partnerships: Identifying opportunities and taking action to build strategic relationships between one’s area and other areas, teams, departments, units, outside vendors and partners, or organizations to help achieve business goals.
Leadership Disposition- Back Office: Demonstrating the traits, inclinations, and dispositions that characterize successful leaders; exhibiting behavior styles that meet the demands of the leader role.
Aligning Performance for Success: Focusing and guiding others in accomplishing work objectives
