Senior Deposit Product Manager

Full job description
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.


In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.


The anticipated salary range for this role is between $166,000.00 and $210,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Description
Sumitomo Mitsui Banking Corporation (SMBC) is hiring for a US Cash Management Senior Deposit Product Manager position.


US Cash Management sits within SMBC’s Global Transaction Banking Division (GTBD) which is the deposits and payments hub of the bank. The business is responsible for supporting our institutional clients across payments, liquidity solutions and all other cash management needs.


SMBC’s Cash Management business is on a multi-year journey to change the way clients do business and how SMBC is solving for their evolving needs. This role will be responsible for the management, growth, and development of SMBC’s US Cash Management Deposit products and solutions. The Senior Product Manager will oversee and manage end-to-end Demand Deposit Account (DDA) product capabilities, systems enhancements, commercialization and future development. The candidate will be responsible for close collaboration with internal teams partnering across the organization with Technology, Operations, Sales, Corporate Banking, Treasury, Audit and Finance. This role will report to the Head of Cash Management Deposits for the US.

Role Objectives: Delivery
Contribute to the overall success of the US Cash Management business driving business growth and meeting/exceeding financial performance targets

Serve as a subject matter expert (SME) on core Deposit product management across GTBD.
Design and develop systems capabilities to support client growth, efficiency and commercialization
Develop and implement strategies to grow USD deposits, improve client experience and enhance business profitability through improved product capabilities
Manage DDA products and capabilities, including account structuring and short-term investments
Lead project teams in designing and delivering new DDA products and enhancements
Lead effort to launch new Deposit product system
Analyze customer and market data to meet client needs, driving new and unique product capabilities
Ensure compliance with regulatory requirements and align with best-in-class risk management capabilities
Actively oversee, manage and mitigate all risks associated with the deposit system
Qualifications and Skills
Minimum of 7-10 years of experience specifically in Product Management, Cash Management, and Treasury functions
Proven track record designing, developing and implementing best-in-class deposit product management capabilities and solutions
Experience driving design requirements, technology implementations, testing et al.
Experience in working with institutional clients to optimize DDA structures and liquidity management
Integral knowledge of regulatory requirements impacting deposits while possessing strong risk & controls acumen
Strong understanding of global markets, monetary policy, cash management and industry trends affecting deposit product management and client engagement
Knowledge and expertise in liquidity stress testing and balance sheet management
Proven ability to drive change, influence and deliver results in a fast-paced and dynamic environment
Self-starter with a high level of confidence and experience to drive change and execute as priorities and requirements may quickly evolve
Excellent interpersonal and communication skills, with a focus on customer-centric solutions
Additional Requirements
D&I Commitment

Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.

SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.


SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.

 

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