Head of Consumer Bank Portfolio Management

Position Title

Head of Consumer Bank Portfolio Management

Location

New York, NY 10018

Job Summary

Deposits fund the Consumer Bank, and how they are priced and managed decides how profitably it grows. This role owns pricing, P&L management, forecasting, and the insights and analytics agenda for the consumer deposit book. The decisions made in this seat shape how Flagstar competes for deposits, what it pays for them, and how much of that growth reaches the bottom line.
This is a builder's mandate. The function is being assembled across three disciplines, pricing, P&L management and forecasting, and insights and analytics, and the work begins with standing up the operating model, building a forecasting and P&L capability the bank owns, and setting the performance standards the portfolio is run to. It extends to leading the leaders who run each discipline and the analysts beneath them, carrying rate recommendations into the governance forums where the balance sheet is steered, and establishing with Finance and Treasury a single agreed basis for deposit actuals and attribution. We are looking for an executive who reads the deposit market instinctively, balances growth against margin, and has the presence to move a recommendation in the room where the bank's funding decisions are made.
This is the primary owner of consumer deposit pricing, portfolio P&L, forecasting, and the analytical agenda behind them.

Job Responsibilities:

Job Responsibilities

Deposit portfolio strategy and economics

·         Owns the economics of the consumer deposit portfolio across product and segment, including cost of funds, mix strategy, and the trade offs between deposit growth, retention, and margin.

·         Sets the multi year direction for how the deposit book is priced and managed in service of the bank's growth agenda.

Pricing strategy, recommendations, and governance

·         Owns rate strategy across the consumer deposit portfolio, spanning standard pricing, promotional offers, and exception pricing, and the analytics that support each recommendation.

·         Owns rate recommendations to the pricing governance forums, presents them to executive audiences, holds them under challenge, and maintains adherence to the bank's deposit pricing governance.

P&L management and forecasting

·         Owns the P&L for the consumer deposit portfolio, including interest expense, net interest income, and contribution by product and segment, and answers for results against plan.

·         Owns the attribution logic that decomposes interest expense to product, segment, and pricing action, and establishes with Finance and Treasury a single agreed basis for actuals and reconciliation.

·         Owns the deposit balance and rate forecast for the consumer portfolio, the assumptions and retention projections behind it, and the scenario work that tests it, and builds a forecasting capability the function controls.

Insights and analytics

·         Owns the insights and analytics agenda for the function, including price elasticity, behavioral segmentation, competitive and market insight, and the reporting leadership runs the portfolio from.

·         Directs the data science and modeling applied to deposit behavior, including rate sensitivity, retention, and balance migration, and sets the standards those models and analyses must meet.

Portfolio performance management

·         Owns the performance framework for the portfolio, tracking cost of funds, acquisition, augmentation, and attrition against plan, and surfacing the actions the results call for.

Organization, operating model, and talent

·         Builds and leads the function across pricing, P&L management and forecasting, and insights and analytics, and sets the operating model, cadence, and program discipline that keep the build moving.

·         Establishes shared accountability with Finance, Treasury, and the enterprise data function for actuals, data, and reconciliation.

·         Responsible for talent management functions including: employment, performance evaluations, staff development/training, disciplinary actions, succession planning and ensuring all staff comply with compliance requirements.

Additional Accountabilities

·         Performs special projects, and additional duties and responsibilities as required.

·         Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance training. Accountable to maintain compliance with applicable federal, state and local laws and regulations.

Job Requirements

Required Qualifications:

·         Education level required: Undergraduate Degree (4 years or equivalent), or equivalent work experience.

·         Minimum experience required: 12+ years in deposit pricing, treasury, balance sheet management, or a related finance discipline, including leadership of pricing, P&L management, forecasting, and the analytical work behind them for a consumer deposit portfolio.

·         Command of deposit economics, including cost of funds, net interest income, and the levers that move them.

·         Ownership of a portfolio P&L, including interest expense, net interest income, contribution by product and segment, and variance to plan.

·         Ownership of a balance and rate forecast and the analytical work that supports it, including scenario construction and the assumptions behind it.

·         Direction of analytical work, including price elasticity, behavioral segmentation, modeling, and performance analysis, and the standards it must meet.

·         Fluency in deposit pricing across product and segment, and the trade offs between growth, retention, and margin.

·         Experience presenting pricing and forecasting recommendations to executive and governance forums and defending them under scrutiny.

·         Experience building and leading a multi disciplinary function spanning pricing, forecasting, and analytics, including leaders and the teams beneath them.

Preferred Qualifications:

·         Advanced degree in finance, economics, statistics, or a related quantitative field.

·         Banking or financial services experience, particularly consumer deposits and treasury.

·         Experience building a deposit portfolio management, P&L, or analytical function where one did not previously exist.

·         Experience establishing interest expense attribution or funds transfer pricing logic jointly with Finance or Treasury.

·         Familiarity with deposit behavioral modeling and price elasticity.

Job Competencies:

·         Possess deep fluency in deposit economics and an instinct for which lever moves cost of funds and net interest income under a given rate path.

·         Possess command of a portfolio P&L, including the attribution of interest expense to product and pricing action, and the discipline to hold one agreed basis for actuals with Finance and Treasury.

·         Demonstrate command of balance and rate forecasting, including the judgment to know when a model result should be overridden and on what basis.

·         Display the ability to direct modeling and analytical work, set the standard it must meet, and recognize when an analysis is not yet strong enough to act on.

·         Exhibit the judgment to balance deposit growth, retention, and margin when they conflict, and to say which one gives way.

·         Possess the quantitative rigor to size an opportunity, build the business case, and stand behind the assumptions when they are tested.

·         Demonstrate the ability to present recommendations to executive and governance audiences and hold the line under challenge.

·         Display a builder orientation, comfortable designing the operating model and the analytical capability from the ground up and working ahead of settled process.

·         Exhibit written reasoning strong enough to put a funding recommendation in front of an executive audience in one page.

·         Demonstrate the ability to build and lead a team of leaders across pricing, forecasting, and analytics, and to develop the talent beneath them.

·         Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.

·         Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.

·         Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.

·         Occasional travel required.

·         Physical demands (ADA): No unusual physical exertion is involved.

Flagstar is an Equal Opportunity Employer - Vets/Disabled

We are committed to providing clear and accurate compensation information in accordance with applicable laws. Actual starting base pay will be determined based on location, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, commissions, or other awards as outlined in the offer of employment. Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank

Pay Range

$185,159.25 - $310,916.00

Qualified applicants with arrest or conviction records will be considered for employment in accordance with the California Fair Chance Act, the Los Angeles County Fair Chance Ordinance, the City of Los Angeles Fair Chance Initiative for Hiring Ordinance, and the San Francisco Fair Chance Ordinance, as appliable.