Deposit Product Manager

JOB SUMMARY

The Deposit Product Manager is responsible for the strategic management, growth, profitability, retention, and ongoing enhancement of University Credit Union’s consumer and business deposit products. This role develops and executes product strategies that drive member acquisition, increase member retention, deepen relationships, improve member experience, increase deposit balances, reduce deposit attrition, and support organizational growth objectives.

The Deposit Product Manager serves as the primary product owner for checking, savings, money market, certificate, youth, specialty deposit, account-continuity, wealth transfer, estate-related deposit services, and related deposit solutions. Working closely with Retail Delivery, Growth, Digital Banking, Marketing, Operations, Finance, Risk, Compliance, Payments, and Technology teams, this position identifies market opportunities, manages product performance, develops business cases, leads product enhancements, ensures products remain competitive, compliant, and aligned with member needs, and plays a critical role in the overall deposit growth and retention strategy execution across the organization.

The ideal candidate combines strategic thinking, data-driven decision making, strong project management skills, and deep financial services expertise to deliver innovative deposit solutions that support UCU’s mission of providing every member of the university community a financial advantage.

LOCATION

We are passionate about attracting great talent to our team. This position may operate in a hybrid work environment with periodic travel to UCU offices, partner universities, and business meetings as required.

ABOUT UNIVERSITY CREDIT UNION

University Credit Union (UCU) is a purpose-driven financial cooperative dedicated to providing everyone in the university community a financial advantage. Founded at UCLA in 1951, UCU has proudly served the higher education community for more than 70 years through a commitment to competitive products, exceptional member experiences, and conflict-free financial guidance.

KEY DUTIES AND RESPONSIBILITIES

Product Strategy and Portfolio Management

· Develop and execute the strategic roadmap for UCU’s deposit product portfolio.

· Monitor product performance, member adoption, portfolio growth, profitability, retention, and competitive positioning.

· Identify opportunities to increase deposits, reduce attrition, improve engagement, deepen member relationships, and generate sustainable growth.

· Lead business case development, pricing recommendations, and product enhancement initiatives.

· Conduct market, competitive, and member research to identify trends and emerging opportunities.

· Evaluate new deposit products, features, services, and partnerships to support organizational objectives.

· Recommend product changes based on member feedback, analytics, regulatory changes, and market conditions.

Product Performance and Analytics

· Establish and monitor key performance indicators for each deposit product.

· Analyze account growth, balances, attrition, profitability, utilization, acquisition costs, and member behaviors.

· Provide executive reporting and strategic recommendations regarding product performance.

· Partner with Finance on deposit pricing, liquidity considerations, profitability analysis, and balance growth initiatives.

· Use data and insights to optimize product positioning and member value propositions.

Product Development and Execution

· Act as business owner for deposit product enhancements, launches, conversions, and retirements.

· Define business requirements and collaborate with Technology, Operations, Digital Banking, and vendors to deliver solutions.

· Participate in testing, implementation planning, change management, and post-launch evaluations.

· Ensure products are configured appropriately across digital and operational platforms.

· Lead cross-functional project teams to successfully execute product initiatives.

Member Experience and Growth

· Partner with Marketing and Growth to develop campaigns supporting deposit growth and member engagement.

· Collaborate with MX, Retail Delivery and Growth teams to improve product adoption and member satisfaction.

· Ensure product disclosures, communications, and member materials remain accurate and effective.

· Identify opportunities to improve account opening experiences and digital self-service capabilities.

· Support financial wellness initiatives through relevant savings, deposit, account-continuity, and relationship-building products, including education that helps members make informed decisions about savings, beneficiaries, account access, and wealth transfer planning.

Deposit Retention and Wealth Transfer Strategy

· Analyze member, account, transaction, service, and balance data to identify deposit retention risk, member needs, account-continuity gaps, and relationship growth opportunities.

· Develop, recommend, and deploy deposit-related products, services, and member journeys that support account continuity, beneficiary planning, trust and estate-related needs, and wealth transfer readiness for aging members and their families.

· Partner with Retail Delivery, Contact Center, Wealth Management, Operations, Risk, Compliance, and Marketing to identify older-member needs, reduce deposit runoff, support beneficiary and account-title readiness, and create coordinated outreach strategies for members and potential next-generation relationships.

Compliance and Risk Management

· Ensure deposit products comply with applicable laws, regulations, and credit union policies.

· Partner with Compliance, Legal, and Risk Management teams on regulatory reviews and product changes.

· Monitor industry developments affecting product design, disclosures, pricing, and operational requirements.

· Participate in audits, examinations, and risk assessments as needed.

· Support implementation of regulatory and operational changes impacting deposit products.

Vendor and Relationship Management

· Manage relationships with deposit product-related vendors and strategic partners.

· Participate in applicable vendor evaluations, contract reviews, and ongoing performance assessments.

· Monitor service levels, operational effectiveness, and member impact associated with vendor-supported products.

· Identify opportunities to improve efficiencies and enhance member experiences through strategic partnerships.

Other Responsibilities

· Prepare presentations, business cases, and recommendations for executive leadership.

· Participate in strategic planning initiatives.

· Stay informed of emerging industry trends, competitive developments, and fintech innovations.

· Complete special projects as assigned.

· Attend meetings, training programs, and professional development opportunities.

· Perform other duties as assigned.

KNOWLEDGE AND SKILLS

Education/Certification

· Bachelor’s degree in Business Administration, Finance, Marketing, Economics, or related field required.

· MBA, Certified Product Manager, CUES certifications, or related industry designations preferred.

Required Knowledge

· Strong understanding of financial institution deposit products and services.

· Knowledge of pricing strategy, deposit growth, profitability management, deposit retention, account-continuity strategies, estate-related deposit needs, and member relationship strategies.

· Understanding of NCUA regulations, Truth in Savings, Reg CC, BSA/AML, CIP, OFAC, and other applicable regulatory requirements.

· Familiarity with digital banking platforms, account opening technology, payments, and consumer banking trends.

· Knowledge of product lifecycle management and product development methodologies.

Experience Required

· Minimum seven to ten years of progressive experience in financial services, banking, credit unions, product management, retail banking, treasury management, or related disciplines.

· Demonstrated experience managing deposit products and product growth strategies.

· Experience leading cross-functional projects and product implementations.

· Experience analyzing product performance and developing business recommendations.

Skills/Abilities

· Strategic thinking and business planning capabilities.

· Strong analytical and financial modeling skills.

· Excellent project management and organizational skills.

· Exceptional verbal, written, and presentation skills.

· Ability to communicate effectively with executives, vendors, and cross-functional stakeholders.

· Ability to influence without direct authority.

· Strong member-centric mindset.

· Advanced Microsoft Office skills, including Excel and PowerPoint.

· Experience using reporting and analytics tools.