Description

Who is Quorum

Quorum Federal Credit Union is a national employer of choice that attracts, develops, enables, and retains the right resources to drive the organization forward. We are a human-centered organization that delivers a positive work journey and is committed to enhancing the lives of our employees and helping them to grow personally and professionally. We offer a unique value proposition to employees including Total Rewards, Work Journey, Work Paradigm, and Q-DNA to improve work-life balance and help employees live happier, more productive lives while contributing to our mission.

Job Description Summary

The Director, Deposit Strategy is responsible for developing and executing a comprehensive digital deposit product strategy for both retail and B2B segments, ensuring alignment with the organization’s overall goals. This role collaborates closely with internal stakeholders and vendors to align priorities, define and optimize the product roadmap, and oversee day-to-day activities to enhance overall funding cost-effectiveness.

Key Job Responsibilities and Accountabilities

• Defines and communicates the overall digital deposit vision, objectives, and goals, focusing on lowering the cost of funds. Drives all areas of functional product management - product vision, design, product execution, value proposition, testing strategy and execution, and go-to-market strategy. Manages product lifecycle from concept to retirement by overseeing investment posture, resourcing and funding.

• Partners with key stakeholders across the organization to develop and execute innovative and digital product roadmaps that drive revenue, improve member engagement, optimize operations, and enhance business value, particularly focusing on cost-effective funding strategies.

• Utilizes performance metrics to measure members experience and success in acquisition, cross-sell and retention. Reviews metrics and key performance indicators to prioritize opportunities and areas lacking performance. Recommends targets and strategies to meet or exceed performance goals, with a focus on cost-effective deposit acquisition.

• Manages the digital deposit product set through its full lifecycle, from conception to sunset. Ensures maintenance of key deposit information including product specification, disclosures, job aids, and related fees schedules.

• Conducts research and analysis to develop and present recommendations on digital deposit products, pricing, promotions and partnerships. Aligns market trends with insights from existing members and target market to support strategic objectives.

• Leads cross-functional internal teams, including Operations, Compliance, Legal, Risk, Marketing and Digital departments to deliver new deposit programs, channels and products.

• Works directly with digital transformation and marketing to enhance online and mobile customer experience and engagement including increasing online application start and completion rates, driving member cross sell and member acquisition. Balances member experience with operational efficiency and organizational risk.

  Job Requirements, Competencies, and Skills

• Bachelor’s degree required, preferred in areas of Finance, Accounting, Economics, or Marketing; MBA preferred.

• Minimum of 10 years of experience at a financial institution, with hands-on experience in product management, digital products, FinTech, corporate strategy, eCommerce and/or digital sales preferably in Financial Services and/or Start-up.

• Proven ability to manage both strategic and executional aspects of product development and enhancement initiatives.

• Demonstrated thought leadership in the digital space.

• Knowledge of product design and development best practices with experience in managing agile, lean, cross-functional teams, often through influence.

• Experience in working and leading cross-functionally with stakeholders, including users, developers, business leaders and executives to generate buy-in for product direction.

• Successful track record in developing and implementing a digital product roadmap.

• Intellectual agility and a high degree of comfort with ambiguity. Innovative thinker with a history of challenging the status quo and devising creative solutions to solve problems.

• Sophisticated business sense and understanding of underlying drivers.

• Strong communication and written presentation skills with experience effectively communicating. with diverse audiences s, including senior leadership.

• Experience with data analysis, product strategy and roadmap management.

• Good knowledge of the banking digital products market, competitive landscape, and latest trends.

• Ability to independently manage multiple dependencies, secure commitments and drive escalations.

  Environmental / Physical / Mental Requirements

• Stable internet connection with speeds high enough for video conferencing and screen sharing.

• Smartphone with current iOS/Android OS.

• Prolonged periods sitting at a workstation and working on a computer.

• Ability to communicate with coworkers and customers via email, chat, teleconference, and/or phone.

  Compliance/legal requirements

• Quorum is an Equal Employment Opportunity and Affirmative Action Employer. Qualified applicants will be considered for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, marital status, protected veteran status, or disability status. 

• Quorum will make reasonable accommodations in compliance with the Americans with Disabilities Act of 1990. Reasonable accommodations are available upon request for qualified individuals with disabilities throughout the application and employment process.

• Qualified Applicants with arrest or Conviction records will be considered for employment in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.

  PLEASE NOTE

We are not able to consider candidates for this role who reside in Montana, Nebraska, Rhode Island, or Puerto Rico

Salary Range: $190,000 to $210,000 annually. Individual salary will vary based on skills and experience. Discretionary incentive compensation may be available based on company and individual performance.

Benefits: Medical, Vision, Dental, Retirement Benefits, and Paid Time Off (PTO)

#LI-Remote

Qualifications

Education

Required

• Bachelors or better in Finance

• High School or better

Preferred

• Masters or better

Experience

Required

• 10 years: Bachelor’s degree required, preferred in areas of Finance, Accounting, Economics, or Marketing; MBA preferred. Minimum of ten (10) years of experience at a financial institution, with hands-on experience in product management, digital products, FinTech, corporate strategy, eCommerce and/or digital sales preferably in Financial Services and/or Start-up.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)