Director of Deposit Services

Description

John Marshall Bank has an immediate opening for a Director of Deposit Services (DDS). This person will be responsible for developing and implementing deposit strategies that drive balance sheet growth, enhance overall profitability and increase market share for the Bank. The DDS will work collaboratively with Senior Management and other various departments to align and execute on all deposit products, services and initiatives to meet the Bank’s strategic and deposit growth objectives.

Responsibilities

Strategic Planning and Execution:

• Develop and implement comprehensive deposit strategies to attract, expand and retain customers to achieve targeted deposit growth goals.
• Analyze and evaluate deposit trends, customer needs and the competitive landscape to identify opportunities for new and innovative deposit products and services.
• Conduct research and analysis to develop recommendations on deposit products, pricing, promotions and partnerships.
• Monitor and report on the financial performance of the deposit portfolios, including balance growth, retention and profitability.
• Collaborate with the Finance Department to forecast deposit growth/pipeline, and its impact on the Bank’s financial position.
  
  

Product Development And Management

• Provide comprehensive recommendations to Senior Management on the design, pricing and implementation of new deposit products and relationship enhancement opportunities.
• Lead the development and enhancement of existing deposit products and services.
• Create and launch targeted campaigns to promote deposit growth initiatives across all channels.
• Manage the creation and maintenance of deposit related Truth-In-Savings Disclosures (TISAs) to ensure compliance with regulatory standards.
• Monitor the performance of deposit products, identify areas for improvement, and implement necessary adjustments to enhance customer satisfaction and profitability.
• Develop service charge and fee recommendations for deposit accounts and services; work with the various departments to implement and communicate changes to customers, including the update and distribution of the Fee Schedule.
  
  

Relationship Management And Customer Experience

• Establish and maintain strong relationships with key customers, including high-net-worth individuals, commercial clients, and institutional depositors.
• Champion customer-focused deposit solutions to ensure seamless banking experience.
• Work directly with the Director of Treasury and Digital Services, and the Chief Marketing Officer to enhance online, mobile, and website customer experiences.
• Enhance and manage the deposit rate exception customer process and tracking; communicating when customer deposit balances/relationship expectations are not being met.
• Manage the Profitability Assessment template, and distribution upon any revisions.
  
  

Reporting And Analytics

• Provide regular reporting on deposit growth, product performance and customer/employee feedback to Senior Management.
• Use data and analytics to formulate decision-making around improvement with deposit-related strategies.
• Utilize performance metrices to measure experience and success in acquisition, expansion and retention.
• Design, compile and distribute monthly sales reports to the various teams.
  
  

Risk Management And Compliance

• Ensure deposit products, services and programs comply with regulatory requirements, including BSA/AML, KYC and consumer protection laws.
• Work closely with the operations, risk management and audit areas to identify and mitigate operations or compliance risks.
  
  

Leadership And Development

• Create and implement training to the sales team on product/service offerings.
• Provide individual coaching, as needed, to the sales team to improve performance.
• Collaborate with the teams to develop educational resources for their use.
• Foster a culture of customer-centricity and sales excellence within the deposit teams.
  
  

Requirements

• Bachelor’s degree in finance, banking, or a related field
• At least 10 years of work experience in Commercial Banking
• Proven experience in deposit product development, pricing, and sales within the banking industry
• Strong understanding of deposit regulations, compliance requirements, and market trends
• Excellent analytical and problem-solving skills
• Proven leadership abilities with a track record of successful team management
• Excellent communication and interpersonal skills to effectively interact with customers and internal stakeholders
  
  

John Marshall Bank is an Equal Opportunity Employer

Benefits

At John Marshall Bank, we pride ourselves on being able to attract the best talent in the industry, therefore we offer a comprehensive benefits package which includes:

• Medical
• Dental
• 401K Retirement Plan w/ an Employer Match (4% match on 5% contributions – this is highly competitive compared to other organizations)
• Vision
• Employee Assistance Program
• Flexible Spending
• Transit Reimbursement
• Dependent Day Care
• Long Term Care
• Paid Time Off
• Life and Disability Coverage
  
  

At this time, John Marshall Bank will not sponsor a new applicant for employment authorization for this position.