Summer Associate Internship (Marketing Analyst)

Company: Navy Federal Credit Union
Location: Vienna
Posted on: September 19, 2023

Job Description:

Overview
Savings Products Division (SPD) manages all deposit products for Navy Federal Credit Union. For most members, their financial journey begins with a checking account (proceeded by their membership share savings account) so they can manage their spending. They may progress into other savings vehicles such as Money Market accounts, Certificates of Deposits (CDs), and IRAs to grow their wealth. Our division closely monitors how members are interacting with our savings products to identify areas of improvements so we can maximize their utility. SPD also plays a crucial enterprise role - providing a source of funds to lend back to our members, mitigating costs to purchase those funds from the Fed.
Our specific team, SPD Strategic & Operational Analytics, comprises of five key disciplines - strategy, analytics, systems, process improvement, and project management. These core competencies are devised across three teams - Strategy & Marketing, Projects & Process Improvement, and Analytics. We use insights derived from behavioral analytics and machine learning models to identify opportunities for member messages to drive deeper, meaningful, relationships. Our team is equipped to identify and implement product changes that directly impact and benefit our members.
As a Project Manager Summer Associate on the SPD Strategic & Operational Analytics team, you will manage large-scale projects that traverse across our three teams and may have company-wide impact. You'll help our team further our development in the industry best practices of Agile framework. And you'll work in a fun, energetic environment where team members help each other learn and grow.
The Summer Associate Program is a 12-week internship program beginning in May 2024 and ending in August 2024. Students will work on impactful projects and meaningful work during their internship. To qualify for this position, applicants must be currently pursuing a degree from an accredited college or university and have an anticipated graduation date of December 2024 or later.
Responsibilities
Perform market research to highlight trends and identify opportunities to enhance member experience and business results
Conduct analyses of members' saving habits to generate insights and assist the development of strategies to expand the portfolio, drive retention, and continuously improve member experience
Monitor the performance of promotional campaigns and initiatives to provide recommendations to enhance campaign effectiveness and better business outcomes
Assist with the planning and execution of marketing programs - champion brand and member, develop product positioning, value proposition, messaging, competitive differentiation, and go-to-market strategy for specific products and service offerings
Participate in marketing projects with guidance from senior staff and/or management
Serve on teams and task groups for projects/initiatives within the business unit and/or across the organization
Example Projects:
Perform a competitive analysis of non-monetary bonus or complementary product enhancements by competitors, such as Turbo Tax discounts, subscription services, discount on Disney+ on saving products. Provide comprehensive recommendations on product rewards/benefits or non-monetary bonus that are compatible with NFCU savings product suite.
Conduct market research on saving trends among Gen Z and draw comparison with saving habits of Gen Z members at NFCU. Evaluate product suite and marketing campaigns to make recommendations about compatible products and targeting strategies.
Conduct market research of the business model of innovative banking institutions (i.e., FinTech) around the world, review applicability to Navy Federal and make recommendations for new product or services that Navy Federal can provide.
Examine the value of member loyalty and evaluate whether it leads members to adopt a variety of products with their preferred financial institution or whether members prefer splintering services or a la carte financial portfolio for differing services. Identify opportunities to effectively capitalize on brand loyalty.
Analyze the impacts of relationship pricing (personalized saving rates) across different segments of members and make recommendations for prime segments for relationship pricing and the best treatments for them.
Review product features of Navy Federal deposit product suite and identify opportunities to enhance or rightsize.
Qualifications
Currently pursuing a graduate degree in Business Administration, Marketing, Marketing Analytics, or other related degree
Strong strategic, critical, and analytical thinking skills
Solid grasp of marketing principles such as branding, promotions, communications, direct marketing, product life cycles, and business strategies
Good communication and presentation skills
Hours: Monday - Friday, 8:00AM - 4:30PM
Location: Remote 820 Follin Lane, Vienna, VA Heritage Oaks Drive, Pensacola, FL 32526
Navy Federal is now hybrid! Our standard enterprise requirement for a hybrid schedule is to report on-site 4-16 days each month. The number of days reporting on-site will ultimately be determined by the employee's leadership and business unit needs. You will learn more throughout the hiring and on boarding process.
About Us
You have goals, dreams, hobbies, and things you're passionate about-what's important to you is important to us. We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them-friends, family, and passions. And we're looking for team members who are passionate about our mission-making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it:
--- Military Times 2022 Best for Vets Employers
--- WayUp Top 100 Internship Programs
--- Forbes 2022 The Best Employers for New Grads
--- Fortune Best Workplaces for Women
--- Fortune 100 Best Companies to Work For
--- Computerworld Best Places to Work in IT
--- Ripplematch Campus Forward Award - Excellence in Early Career Hiring
--- Fortune Best Place to Work for Financial and Insurance Services
Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.

Keywords: Navy Federal Credit Union, Washington DC , Summer Associate Internship (Marketing Analyst), Advertising , Vienna, DC