MassMutual Head Of Deposits Strategy - Remote in Boston, Massachusetts
As the Head of Deposits Strategy, you will develop and lead MassMutual’s Cash Management strategy, with a particular focus on our FDIC Sweep Programs. As part of leading this strategy, you will be responsible for Product Development and Management (design, build, launch, manage) of new bank deposits products. Additionally, in collaboration with internal and external partners, you will develop, drive and manage new and existing products, which includes ownership of financial results, marketing, communications, training and ensuring strategic alignment with the wider partnerships and goals of MassMutual.
You will report to the Head of Lending and Banking Services. You will work with cash-focused teammates in the Wealth Management division in addition to partnering with vendors, banks, and enterprise partners supporting the cash products. The collaborative and dynamic team environment includes members with extensive background and experience in financial products and asset management.
MassMutual’s cash management and product strategy is a key and growing component of the business. You will spearhead our efforts to enhance MassMutual’s Lending and Banking offerings and lead high-visibility and high-impact projects to further the development and growth of cash products (such as Savings, CDs, and Deposits), with a primary focus on our new, proprietary FDIC Cash Sweep Programs.
Key responsibilities include:
Build strategies and product roadmaps that drive revenue growth, create cost savings, and minimize risk
Frame senior executive discussions and lead decision-making meetings relative to cash products including rate setting management
Perform and oversee forecasting and sensitivity analyses (e.g., cash balances, revenue)
Oversee product development and support by partnering with stakeholders across the firm to respond to product inquiries and resolve issues
Identify client and advisor needs by using research and analytics to provide recommendations for enhancements to the product related features, services, processes, policies, forms, and procedures to meet them
Enhance existing products and bring new products to market, partnering across a variety of internal and external constituents
Lead compliance of products with all regulatory requirements, and implement policies and procedures that ensure prudent risk management for the products
Work with bank sweep platform and clearing providers in support of contracts, product enhancements and account conversions
Understand the cash product marketplace, including competitive and regulatory developments; work alongside the rate setting committee to analyze the competitive environment for cash products and use the competitive environment to inform product management recommendations
Establish relationships and collaborate with key partners across the organization to ensure that the cash products’ value proposition is represented within the organization and advisor channels (i.e., sales teams, marketing, training, field reporting, financial planning, etc.)
Undergraduate Degree required; Master’s Degree preferred
A minimum of 10 years of experience in product management and strategy, development and marketing within a diversified financial services environment including areas in both banking and wealth management
A successful record of leading a team of both product strategy and product execution professionals
Experience consulting with all levels of management and working collaboratively with various groups within Wealth Management
Must be willing to obtain Series 7 and Series 63 within first 6 months of hire
Must be eligible to work in the US without sponsorship
Knowledge of cash and deposits products and understanding of broader wealth management offerings
Track record of successful product development with ability to work across multiple teams in an agile environment
Strong analytical capability in support of P&L management
Familiarity with regulatory and compliance requirements for deposits products
What to Expect as Part of MassMutual and the Team
Regular meetings with the Wealth Management Team
Focused one-on-one meetings with your manager
Access to mentorship opportunities
Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran, and disability-focused Business Resource Groups
Access to learning content on Degreed and other informational platforms
Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits
MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.
If you need an accommodation to complete the application process, please contact us (firstname.lastname@example.org) and share the specifics of the assistance you need.
At MassMutual, we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component. For more information about our extensive benefits offerings please check out our Total Rewards at a Glance. (http://www.massmutual.com/global/media/shared/doc/employee_benefits.pdf)
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