Head of Deposits Product Development

Job Overview

 The Head of Deposits Product Development is a critical leadership role responsible for driving the strategic development, management, modernization, and innovation of the bank's consumer deposit product portfolio. This role leads product strategy while serving as a key business leader in the convergence and transformation of deposit platforms, ensuring product, operational, and technology capabilities are aligned to support future growth, operational excellence, and an industry-leading customer experience. The successful candidate will lead cross-functional teams to deliver innovative product solutions, core modernization initiatives, and enterprise-wide deposit transformation programs that differentiate the bank in a competitive landscape.

Key Responsibilities  

Deposit Core Convergence and Platform Modernization

• Lead the strategic alignment and convergence of deposit products, processes, and servicing capabilities across core banking platforms to create a unified customer and operational experience.
• Partner with Technology, Operations, Digital, Enterprise Architecture, and Transformation teams to define and execute deposit core modernization and conversion initiatives.
• Drive product rationalization, standardization, and simplification efforts during mergers, acquisitions, system integrations, and core platform transformations.
• Ensure deposit product capabilities, pricing structures, disclosures, servicing workflows, and operational processes are aligned across legacy and target-state platforms.
• Establish and maintain a strategic roadmap for deposit platform evolution, balancing customer experience, operational efficiency, regulatory requirements, and business growth objectives.
• Lead business requirements definition, prioritization, and acceptance criteria for deposit system enhancements, conversions, and platform migration activities.
• Identify opportunities to leverage modern core capabilities, APIs, real-time processing, and fintech integrations to enhance deposit product offerings and accelerate speed to market.
• Partner with Risk, Compliance, and Legal teams to ensure successful execution of deposit transformation initiatives while maintaining regulatory compliance and operational resilience.
• Define and monitor key performance indicators related to platform conversion readiness, product migration success, customer retention, operational efficiency, and post-conversion performance.
• Serve as the business executive sponsor for enterprise deposit transformation programs, ensuring alignment between product strategy, customer outcomes, and technology investments.

Strategic Vision and Leadership

• Develop recommendations for distinctive, comprehensive banking product development strategy aligned with the organization’s vision and growth objectives.

• Lead the design and execution of innovative products that meet evolving customer and market needs; oversee the development lifecycle of new and existing products

• Stay ahead of industry trends, competitive movements, and emerging technologies to maintain a competitive edge; identify cutting edge digital and fintech solutions to improve distinction and customer experience

• Enhance and revamp the existing product suite to maximize profitability and customer engagement.

• Define and track KPIs to measure product success, including revenue growth, customer adoption, and operational efficiency.

Team and Stakeholder Collaboration 

• Presents with excellent verbal and written skills.  Shares relevant knowledge and information and listens to understand others.

• Gains support and commitment from others through being diplomatic and using tact to achieve outcomes.  Persuades and impacts the thoughts and actions of others.  Gains support for ideas, proposals, projects and solutions.

• Sets a direction and vision for others and aligns others to broader goals and organizational objectives. 

• Creates relationships with immediate team and across the organization characterized by a high level of acceptance, cooperation and mutual respect. 

• Manage and mentor a team of product managers

   

 Customer Focus and Market Analysis 

• Designs and delivers an exceptional customer experience.  Considers the customer journey, brand touchpoints and environments the customer experiences.

• Conduct regular market research and customer feedback analysis to identify gaps and opportunities.

• Ensure all products are designed with a customer-centric approach, delivering exceptional value and usability.

• Monitor customer satisfaction metrics and use insights to refine and optimize product offerings.

•  Keeps aware of trends, developments, and technologies within the field of banking and financial services.  Understands the impact of these on the organization. Incorporates relevant trends to ensure the product’s relevancy and competitiveness. 

Qualifications and Requirements  

Education: • Bachelor’s degree in Business Administration, Finance, Economics, or a related field 

Experience and Skills

• At least 10 years of experience in banking or financial services with significant leadership responsibility in deposit product development, product management, and strategic growth initiatives. 

• Proven leadership experience managing high-performing teams and delivering innovative customer-focused banking solutions. 

• Deep expertise in retail, commercial, and digital deposit products, including deposit operations, servicing models, regulatory requirements, and customer experience design. 

• Demonstrated experience leading large-scale deposit transformation initiatives, including core banking conversions, platform modernization, product rationalization, and system convergence efforts. 

• Proven ability to define product strategy and translate business objectives into technology roadmaps, requirements, and successful enterprise implementations. 

• Experience leading complex cross-functional initiatives involving Product, Technology, Operations, Risk, Compliance, Finance, and Digital Banking teams. 

• Strategic thinker with strong analytical, financial, problem-solving, and decision-making skills, capable of balancing customer needs, business objectives, regulatory requirements, and operational efficiency. 

• Excellent communication, presentation, change management, and executive stakeholder management skills, with the ability to influence outcomes and drive organizational alignment. 

• Proficiency in agile product development methodologies and a strong understanding of market trends, competitive dynamics, and emerging financial technologies.

Hours & Work Schedule

• Hours per Week: 40
• Work Schedule: Monday-Friday
• Hybrid: 4 days per week onsite, 1 day remote

Pay Transparency

The salary range for this position is $210,000 - $256,000 per year, plus an opportunity to earn an annual discretionary bonus. Actual pay is based on various factors including but not limited to the budget, work location, and relevant skills and experience.

We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens’ paid time off policy exceeds the mandatory, paid sick or paid time-away policy of every local and state jurisdiction in the United States. For an overview of our benefits, visit https://jobs.citizensbank.com/benefits .

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Equal Employment Opportunity

Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.

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Any offer of employment is conditioned upon the candidate successfully passing a background check, which may include initial credit, motor vehicle record, public record, prior employment verification, and criminal background checks. Results of the background check are individually reviewed based upon legal requirements imposed by our regulators and with consideration of the nature and gravity of the background history and the job offered. Any offer of employment will include further information.