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Regular or Temporary:

Regular

Language Fluency: English (Required)

Work Shift:

1st shift (United States of America)

Please review the following job description:

Lead pricing management function in support of Retail Bank branded lending products. Banking and product management knowledge of retail lending products, pricing economics, regulatory requirements, and go to market practices and policies required. Role directly supports profitability and growth strategies for lending business.

Manage end to end pricing strategy covering: competitive benchmarking, pricing recommendation development, analysis and profitability estimation, decision governance, implementation, & pricing capability tools/enhancements.

Design and implement client value analysis to estimate relationship importance of price (elasticity and relevance) and features in and across products for the suite of lending solutions.

ESSENTIAL DUTIES AND RESPONSIBILITIES
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
1. Develop pricing insights to inform pricing strategy and set pricing recommendations for the line of business: monitor profitability of current pricing, track competitive pricing moves, develop recommendations based on business goals and competitive market.
2. Manage trade-off of profitable volume growth (ROA and volume): develop and apply pricing modeling including client elasticity to pricing changes, update profitability inputs, provide estimates for pricing trade-offs. Ensure strong partnership and alignment with credit risk and credit analytics for all pricing activities to ensure effective pricing for credit risk through the credit risk cycle (includes evaluation of stressed profitability performance scenarios).
3. Develop pricing test strategies and optimize scalable learnings: work closely with product team to design tests to evaluate new strategies, then track and monitor for performance and future implementation.
4. Partner with product, finance, risk, capital markets, and channel partners to leverage and build pricing as a strategic tool and competitive advantage to optimize profitable growth: lead the pricing working group, a cross functional team to evaluate and implement pricing changes.
5. Track market share and competitive position: manage relationship of market data vendors, track and report pricing and major market changes, use results of competitive data to guide pricing changes.
6. Lead value proposition analysis including consumer research including priority client segments to rationalize pricing and product feature decisions and provide recommendations to the line of business.
7. Lead coordination for pricing review, business governance business, pricing implementation, pricing systems, and business/technical pricing system requirements for pricing capability enhancements (MSA level pricing, other new analytic tools).
8. Have deep understanding of Retail bank secured and unsecured lending products (features, functionality, market positioning, and regulatory requirements) to support pricing guidance and market pricing strategies and tactics.
9. Develop and execute pricing to support product growth and profitability: Leverage pricing to support product financial objectives, execute consistent monitoring and assessment of pricing impacts on product performance and trends.
10. Utilize competitive market intelligence to maintain an acute awareness of the competitive landscape, trends, and emerging technology. Seek consumer feedback to develop an understanding of consumer behavior, needs, and expectations.
11. Foster and maintain strong, working relationships with key partners and stakeholders; including treasury, finance, risk, marketing, operations, technology, accounting, legal, and compliance.
12. Effectively work with and administer pricing to be compliant with regulatory, legal, compliance, business governance, change management, and internal bank quality management reviews for lending solutions: product suitability, vendor management, Fair Banking, Reg U, Reg Z, MLA, others.
13. Manage and implement cross business pricing and change control initiatives. Provide leadership and influence with key partner groups to gain alignment and support multi-stakeholder interests.

14. The annual base salary for this position is $143,000 - $161,000
QUALIFICATIONS
Required Qualifications:
The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
1. Bachelor degree or higher
2. 7+ years’ experience in Banking, Lending, or Credit card product and/or pricing experience
3. 7+ years’ experience in pricing or analytics role
4. 7+ years working in or supporting product management in a direct to consumer business
5. Demonstrated proficiency in basic computer applications such as Microsoft Office software products

Preferred Qualifications:
1. Master’s Degree in quantitative field such as economics, statistics, mathematics, or finance.
2. Strong analytical skills with experience with pricing and elasticity modeling
3. Strong communication skills (written and verbal)
4. Demonstrated collaboration and ability to influence business partners across multiple stakeholder groups
5. Experience with Consumer Lending product management a plus

General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.

Truist is an Equal Opportunity Employer that does not discriminate on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status, or other classification protected by law. Truist is a Drug Free Workplace.

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