Director, Deposits Pricing
2 months ago
The Role
The Head, Strategic Pricing & Modelling is responsible for developing & maintaining a pricing and cash management strategy including the development of models across the Deposits & Lending business. The primary focus is driving optimized growth to meet Neo’s rapidly growing Mortgage & Credit Card businesses and building the foundation for Neo’s aggressive plans to expand Retail Customer balances across HISA, GIC & Everyday banking products.
The day to day focus will include working with cross functional teams, including modeling specialists, the business line leads for Credit Risk, Deposits and Lending and Sr. Finance stakeholders to establish sophisticated pricing and cash management processes on a foundation of decision science. The scope includes the development and evolution of Neo’s core banking models with a focus on Growth and Volatility, Attrition and Expected Life, Sensitivity & Repricing and Propensity.
The role leverages pricing and modeling expertise, knowledge of Deposits & Lending products, Treasury functions as well as reporting & data deployment to provide special pricing insights on portfolio level projects. The ideal candidate has expertise to make decisions for new clients strategies, balance & client renewals and proposals across the full retail banking product set.
This is an instrumental role that primarily supports coordinated portfolio wide efforts in driving profitable deposits & lending growth and contribution margin in a highly competitive digital deposits environment. Furthermore, the incumbent can assist the broader Pricing Committees, ALCOs & Banking Partnerships in driving client acquisition, deepening existing relationships to ensure a steady revenue and deposits growth and positive client experience. For new initiatives or priority business requirements, the incumbent works directly with executive leadership to review and approve pricing structure and approaches.
What you’ll be doing
- Support the leadership team on portfolio wide pricing initiatives and customer/segment repricing recommendations. Build pricing models to drive client centric pricing decisions for Deposit & Lending products. Ensure that pricing decisions consistently consider overall client value to Neo, current economic conditions, market trends, product utilization, partner objectives, balance sheet management and delivery channel priorities.
- Ensure that pricing decisions maximize deposit & lending volumes, provide steady revenue growth, diversify revenue sources, deepen client relationships, and ensure profitability. Escalate complex pricing requests to ensure alignment on optimal pricing decisions.
- Leverage analytics to identify client and sub-segment profitability, revenue leakage and opportunities with deposits, lending and payment clients with special targeting or (non-standard) pricing. Provide recommendations to ensure stable funding ratios anchored on sticky Deposit balances and revenue growth.
- Utilize data and analytic tools to identify stable revenue opportunities, optimizing the acquisition of core primary banking clients with the management of transactional/price sensitive clients and working with Marketing to implement related strategies.
- Liaise with Marketing and Operations to ensure correct and timely implementation of approved pricing changes and enhancements.
- Conduct an in-depth analysis on Lending & Deposits portfolio composition, pricing structures, promotional rates, cash incentives, deposits & spending behaviors, treasury & FTP treatment and client relationship with Neo. Use the results to refine the Deposits, Credit Cards & Mortgage pricing models, update model assumptions, and provide optimal pricing decisions.
- Provide support to business partners with regards to product pricing and facilitate training sessions as needed on pricing system and process.
- Leverage analytics to enhance pricing decisions, deepen client relationships and deepen the understanding of the pricing landscape and opportunities.
- Drive deeper customer relationships by championing a client focused culture and leverage broader bank relationships to assist marketing, the business units and product in deepening client relationships and/or winning new core banking clients.
Who we are looking for
- Undergraduate degree in Business, Finance, Economics, and/or Applied Science
- Graduate degree or financial designation is preferred
- 5 years+ experience in Financial Modeling, Proposal Writing, Pricing roles, and/or Banking Products Sales
- Deep knowledge of Deposits and Lending pricing strategies, data & analytics, with working knowledge of Investments & cash management products, business processes, product CX, sales processes and business clients
- Close collaboration with partners from different areas of the bank (i.e. Product, Engineering, Data, Finance)
- In depth knowledge of client on-boarding, pricing implementation, pricing proposal
- Advanced skills in SQL, VBA and/or Power BI
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