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Deposit Product Manager - Managed Rate Products (Open to anywhere in the U.S. Bank footprint)

U.S. Bancorp

U.S. Bancorp

Minneapolis, MN, USA
Posted on Thursday, November 9, 2023

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

The Deposit Product Manager - Managed Rate Products position will oversee the strategic product management of all Consumer Deposit savings, money market, and Certificate of Deposit (CD) products, with the goal of growing new consumer households, relationships, accounts, and balances.

This position assists in the development and implementation of key strategic initiatives to support the managed rate product portfolio's revenue, growth, and retention targets. This includes leading cross-functional teams in implementing prioritized initiatives and ensuring coordination across various partners to meet delivery objectives. In addition, this position will evaluate market and industry trends and the competitive environment again our current product set and positioning in order to recommend enhancements to the managed rate product portfolio that will help meet our key bank goals.

The Product Manager role will also ensure our managed rate products meet all regulatory requirements by closely collaborating with internal risk, compliance, and FRBD partners.

Daily responsibilities include but are not limited to:
• Track, report, forecast, and plan deposit growth by product and consumer business lines
• Perform analysis to understand the drivers of performance
• Monitor competitor pricing, provide pricing strategy recommendations, and assist with rate change process
• Develop strategic recommendations based on key business drivers
• Maintain a pulse on consumer sentiment, competitor positioning, regulatory events, geopolitical themes, and monetary policy
• Lead development of new products, refine existing products, and develop ideas that promote the growth of balances and optimize spread revenue
• Collaborate cross-functionally across many partner areas to achieve goals
• Translate data, facts, and figures into compelling business cases by crafting engaging presentations that generate impact
• Interact with and present to senior management

Preferred Skills/Experience
- Bachelor's degree, or equivalent work experience
- Typically three to five years of relevant experience
- Proficient product management or similar experience
- Effective presentation, verbal and written communication skills

- Knowledge of U.S. Bancorp's values and culture
- General knowledge of deposit product management, development, implementation, research, marketing, strategic analysis, banking operations, and the current regulatory environment
- Strong product management, design, and development skills
- Strong financial background as well as pricing and competitive analysis experience
- Results oriented with strong ability to execute
- Possess a high level of learning agility
- Analytical in nature with an eye for detail
- Ability to lead through influence
- Navigate uncertainty and proactively initiate change
- Experience managing complex issues with competing objectives
- Highly motivated and resourceful with an ability to work independently
- Excellent verbal and written communication skills
- Strong financial and competitive analysis and computer skills
- Demonstrated management, leadership, and interpersonal skills

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Learn how the way we work at U.S. Bank drives meaningful relationships with our customers and collaboration across the company.


Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

  • Healthcare (medical, dental, vision)

  • Basic term and optional term life insurance

  • Short-term and long-term disability

  • Pregnancy disability and parental leave

  • 401(k) and employer-funded retirement plan

  • Paid vacation (from two to five weeks depending on salary grade and tenure)

  • Up to 11 paid holiday opportunities

  • Adoption assistance

  • Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

EEO is the Law

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.


U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, US Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401k contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $112,880.00 - $132,800.00 - $146,080.00