What are the responsibilities and job description for the Retail Deposit Pricing Analyst position at Comerica Bank?
The Deposit Pricing Analyst is responsible for analyzing and developing strategies to optimize deposit pricing structures. This role will evaluate market conditions, competitor pricing, and internal financial performance to recommend pricing strategies for various deposit products. A successful candidate will have strong analytical, problem-solving, and presentation skills. The position will work closely with senior leaders to drive stronger understanding of deposit pricing and impact to product strategy, innovation, deployment, portfolio management, market penetration, and operational excellence. This position is national in scope and includes responsibility for deposit pricing and exception pricing processes to manage margin and deposit costs for the Bank.
Position Competencies:
- Strong analytic and quantitative skills with the ability to interpret complex data and make data-driven decisions.
- Proficiency in financial modeling, forecasting, and statistical analysis.
- Excellent communication and presentation skills.
- Proficiency in reporting and presentation platforms such as Power BI, SQL, PowerPoint, and other relevant analytics platforms.
- Monitor product performance metrics and adjust strategies as needed to achieve growth targets.
Duties/Responsibilities:
Market Analysis:
- Conduct comprehensive market research to understand product trends, competitor pricing, and customer preference.
- Synthesize and present third party and market data into strategic stories in support of executive pricing committees.
- Analyze economic indicators and industry reports to forecast deposit market trends and their impacts on pricing.
Pricing Strategy:
- In partnership with product management and finance, develop pricing recommendations that align with organizational goals and market conditions.
- Utilize Consumer deposit sales data to identify opportunities for improvement and growth by customer segment, product and or location.
- Prepare reports and presentations on pricing performance, including profitability analysis and trend forecasting.
- Present finding and perform follow up research on behalf of National Pricing Committees.
Regulatory & Risk:
- Ensure that pricing recommendations are in line with regulatory requirements.
- Maintain comprehensive documentation of pricing decisions and market analyses.
- Develop control reporting to ensure the execution of pricing changes is in line with the recommended strategies.
- Work with Compliance and Risk management teams to identify and mitigate risks.
Qualifications:
- Bachelor's Degree from an Accredited University OR 4 Years of relevant experience
- 4 Years Banking or financial services industry experience
- 4 Years Strategy and/or analytics experience
- 4 Years Financial reporting experience (or related field reporting experience)
- 3 Years Experience with Microsoft Office products, including Word, Excel and PowerPoint
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
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