Senior Manager, Consumer Deposit Product and Pricing

About Working at Commerce 

Building a career here is more than just steps on a ladder. It’s about helping people find financial safety and success, helping businesses thrive, and making sure people and their money are taken care of. And our commitment doesn’t stop there. Our culture is about our people, the ones in our communities and the ones that work with us.  

Here, you’ll find opportunities to grow and learn, to connect with others, and build relationships with the people around you. You’ll have the space and resources to grow into the best version of yourself. Because our number one investment is you.

Creating an award-winning culture doesn't come easy. And after 160 years, we know Commerce Bank is only at its best when our people are. If this sounds interesting to you, keep reading and let’s talk. 

Compensation Range

About This Job

The main purpose of this job is to manage consumer deposit portfolio and pricing analytics.

Essential Functions

• Manage consumer deposit portfolio P&L to meet growth and revenue projections

• Manage Net Interest Margin (NIM) and Cost of Funds (COF) to corporate objectives

• Chair the consumer deposit pricing meeting, leveraging analytics to make strategic pricing decisions and align to corporate objectives

• Develop and manage consumer deposit pricing models

• Support Private Banking in pricing analytics and  provide strategic direction to Wealth management team

• Develop new products, and maintain segment driven value propositions

• Provide thoughtful industry expertise, product management, pricing analytics, and retail growth strategy

• Lead, mentor and motivate team members to implement the department strategy and manage department workflow with guidance on departmental projects/issues, and provide coaching and development opportunities appropriate to each direct report's individual needs

• Perform all necessary management functions, including hiring, evaluations, annual increase allocations and disciplinary action as required

• Communicate decisions, priorities and relevant information to team members effectively

• Support budget management, planning and expenditure

• Perform other duties as assigned

Knowledge, Skills & Abilities Required

• Expert knowledge of pricing models, and the tradeoff between price and volume, including knowledge of best practices

• Industry expertise in deposit product management and pricing

• Expertise in developing marketing strategy for consumer product

• Understanding of customer segmentation, and developing solutions

• Expert knowledge of the consumer banking industry, including knowledge of best practices

• Ability to successfully lead initiatives, projects and activities that support departmental and organizational goals

• Excellent interpersonal skills, including the ability to work across the organization and interact/influence/negotiate effectively at all levels of management and peers

• Ability to think critically, solve problems, make decisions and build trust across the company and effectively envision, develop, and implement new strategies to address competitive complex business issues

• Strong critical thinking skills with the ability to apply discretion and sound judgement to efficiently and effectively solve problems

• Ability to drive results and balance management of organizational risk and meeting goals of the business

• Strong leadership skills with ability to motivate team members and foster a positive team environment that gives way to collaboration and unified goals

• Outstanding interpersonal and relationship building skills with the ability to effectively communicate with all levels of the company, clearly expressing ideas and concepts both verbally and in writing

• Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values

• Advance level proficiency with Microsoft Word, Excel, Teams and Outlook  

Education & Experience

• Master’s degree in related field or equivalent combination of education and experience required

• 10+ years retail banking experience required

• 5+ years leadership/supervisory experience required

***For individuals applying, assigned and/or hired to work in areas with pay transparency requirements, Commerce is required by law to include a reasonable estimate of the compensation range for some roles.  This compensation range is for the Senior Manager, Consumer Deposit Product and Pricing job and contemplates a wide range of factors that are considered in making compensation decisions, including but not limited to location, skill sets, education, relevant experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for any applicable differentials (geographic, bilingual, or shift) that could be associated with the position or where it is filled. At Commerce, compensation decisions are dependent on the facts and circumstances of each situation. A reasonable estimate of the current base pay is $158,000 to $187,000 annually. This position will be eligible for additional compensation through performance-based incentive plan(s) that will correspond to meeting performance goals.

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The candidate selected for this position may be eligible for the following employment benefits: employer sponsored health, dental, and vision insurance, 401(k), life insurance, paid vacation, and paid personal time. In addition, we offer career development, education assistance, and voluntary supplemental benefits.  Click here to learn more.

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