What are the responsibilities and job description for the Chief Technology & Product Officer position at First Fed?

Who We Are

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First Fed is a community bank on an exciting growth trajectory, with 18 locations including 12 full-service branches in Western Washington. First Fed was recognized by the Puget Sound Business Journal as a Best Workplace for the last 3 years and a Top Corporate Philanthropist in 2023. By popular vote, First Fed received 2023 awards for Best Bank in The Best of the Northwest, Best Banker in Readers’ Choice by Cascadia Daily News, and Peninsula Daily News named us Best Bank on the Olympic Peninsula. We also received a Best-In-State bank award from Forbes in 2021.

For over 100 years First Fed has served our customers and communities throughout the PNW. We’ve donated over $9 million to non-profit organizations in the past 8 years through our foundations, sponsorships, direct donations, and matched employee donations. Our amazing team has volunteered over 25,000 hours in the past 5 years – many by using our benefit of 3 paid volunteer days per year!

We welcome applicants from all backgrounds – our diversity makes us stronger. Join our award-winning team!

Our Values

Optimism : We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success.

Initiative : We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good.

Respect : We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others.

Growth : We learn and adapt so we can continually improve. We believe in personal growth through grit and determination.

Ownership : We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions.

First Fed is seeking a dynamic and innovative leader with a passion for building and delivering an unparalleled customer experience to serve as our Chief Technology and Product Officer.

The CTO | CPO will report to the Chief Innovation Officer and will enjoy considerable autonomy combined with the benefits of working with an experienced and knowledgeable team. Our entrepreneurial culture combined with an appetite to experiment and learn provides ideal conditions for the person in this role to thrive.

This is the ideal role for someone who is seeking a unique opportunity and the enabling environment to revolutionize the delivery of financial services by community and regional banks.

The Chief Technology and Product Officer will play a pivotal role in the next stage of First Fed’s expansion, building a best-in-class customer experience and the infrastructure required to seamlessly support customers and the First Fed team. Our ambition is to redefine how community and regional banks can wildly exceed customer expectations, and you will be at the center of this transformation.

Responsibilities

Specifically, the CTO | CPO will have direct responsibility for the following areas :

Product Technology : Over the next two years we aim to redefine an “outstanding” customer experience with First Fed services.
Internal Technology : We aspire to streamline and continuously improve the customer and team experience by working with strategic partners.
Data Science : Our data holds tremendous potential to tailor products and better meet customer and team needs.
InfoSec : Continue to strengthen policies and procedures to deliver the highest levels of Information Security.

Essential Functions

Product Technology

Build and own the product roadmap and the overall First Fed Customer Experience

Guide and actively participate in the product development journey

Own all product build and testing (in collaboration with the Customer Experience Lead)

Provide leadership and guidance to the team responsible for technology partners.

Internal Technology

Chart a technology roadmap to streamline and continuously improve the customer and First Fed Team experience

Work closely with teams at physical locations (branches) to build a seamless digital to physical experience

Experiment and implement innovative approaches to boost efficiency and effectiveness of First Fed teams.

Data Science

Define the data science strategy and long-term vision

Harness our deep and broad data to inform product design, more effectively meet the needs of customers and make strategic business decisions

Guide the build of best-in-class data architecture, tools and reporting. Serve as a reference point for other financial institutions.

InfoSec

Continue to strengthen policies and procedures related to First Fed’s security roadmap and risk management strategy

Oversee security operations and incident response

Ensure regulatory compliance and data privacy.

Requirements

This is a unique role, and experienced candidates from a range of backgrounds have the potential to thrive. Key requirements include :

Typically requires 8-10 years of progressive experience in Information Technology with at least 5 years in a senior leadership role.

Bachelor's degree in Information Technology, Business or related field required.

Demonstrated enthusiasm for deeply and thoroughly understanding customer needs through a variety of traditional and novel techniques.

Proven track record of building creative, technology-enabled solutions to address those needs.

Experience and agility combining a qualitative understanding of customer needs with heavy reliance on data to build products that delight customers.

Ability to work effectively and collaboratively across a complex organization, with an openness to contribute to and learn from other efforts.

Enthusiasm for building, guiding and inspiring a high-performing team. Talent development should motivate you.

Comfort in articulating a long-term strategic vision for technology at First Fed and the ability to deliver on that vision.

Experience working in the financial services space, with a solid understanding of regulatory and compliance requirements and an intuitive feel for product. Deep understanding of payments preferred but not required.

Knowledge of approaches to leverage AI and ML to further the Bank’s goals combined with a pragmatic approach for harnessing these technologies.

A proponent of data-driven decision making who sets a clear example.

Solid data privacy and cybersecurity expertise.

Strong desire to revolutionize the delivery of financial services by community and regional banks. Achieve this by building extraordinary customer experiences.

Other duties as assigned.

Physical Requirements & Working Conditions

Work activities involve combinations of sitting / standing, occasional walking and lifting up to 10 pounds. Normal office environment with a regular work schedule.

Pay Range

The pay range for this role is $150,000 to $300,000.

The typical hiring range for this position is $225,000 - $275,000.

The incentive plan for this position is the Executive Incentive plan. It is paid out annually with a 20% target payout.

Employees will be eligible for our benefits package including medical, dental, and vision insurance, paid time off, retirement plans (401k with company match and Employee Stock Ownership Plan), gym membership reimbursement, discounts on our banking products, and more! Additional information on our benefits package can be viewed at https : / / www.ourfirstfed.com / careers.

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Salary : $225,000 - $275,000

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What are the responsibilities and job description for the Chief Technology & Product Officer position at First Fed?

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