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Job description
Chief Deposit Officer (CDO)
Reports to President
Based out of Indianapolis, Indiana
Pay Range: $95,000+ depending on experience
Position Summary
The Chief Deposit Officer (CDO) is responsible for developing and executing the Bank's enterprise-wide deposit strategy to support long-term profitability, liquidity, and franchise value. The CDO leads all aspects of deposit gathering, pricing, product development, treasury and specialty deposit initiatives, relationship management, and deposit marketing while ensuring compliance with all applicable banking laws and regulations.
This position serves as both a strategic executive and a hands-on business leader. The CDO is responsible for building a diversified, stable, and profitable funding base by growing traditional core deposits while developing specialized deposit verticals that complement the Bank's business strategy.
The position works closely with executive management, lending, operations, finance, compliance, marketing, and branch management to ensure deposit growth supports liquidity, interest rate risk, and earnings objectives.
Primary Responsibilities
Strategic Leadership
Develop and execute a comprehensive deposit growth strategy
Establish annual and multi-year deposit growth objectives
Diversify funding sources while maintaining an emphasis on stable relationship deposits
Evaluate changing market conditions, competitor pricing, customer behavior, and trends
Recommend strategic initiatives to improve franchise value through deposit growth
Present regular deposit strategy updates to executive management and the Board
Core Deposit Growth Develop and manage acquisition, boarding and ongoing management strategies for:
Consumer checking and savings
Money Market accounts
Certificates of Deposit
On-line Savings Accounts
Business checking and savings
Small business operating accounts
Individual Retirement Accounts
Non-profit relationships
Increasing low-cost accounts
Improving deposit retention
Growing relationship balances
Expanding household penetration
Specialty Deposit Programs
M&A and other Escrow Deposit Programs
Develop products and oversee operational, legal, risk/fraud program for escrow deposits targeting: Law firms; Investment bankers; M&A advisors; Private equity firms
Online Savings Strategy
Develop digital deposit initiatives including:
High-yield online savings and certificate of deposit accounts
Digital account opening
Digital marketing campaigns
National deposit acquisition and fraud prevention
Customer onboarding optimization
Deposit retention analytics
Municipal & State Deposit Program
Develop relationships with and manage compliance and service to:
Cities
Counties
School districts
Public utility districts
Fire districts
Special districts
State agencies (where applicable)
Additional Specialty Deposit Opportunities
Evaluate opportunities including:
HOA deposits
Property management deposits
Healthcare organizations
Affordable housing escrow accounts
Attorney trust accounts (IOLTA)
Title company escrow accounts
Non-profit organizations
Faith-based organizations
Bankruptcy trustee deposits
Court registry deposits
Insurance company fiduciary deposits
Deposit Pricing
Lead enterprise deposit pricing by:
Developing pricing strategies
Managing deposit betas
Monitoring competitor pricing
Recommending rate changes
Balancing growth vs funding costs
Supporting ALCO recommendations
Profitability analysis
Liquidity Management Support
Partner with Chief Financial Officer and Board ALCO to:
Forecast deposit growth
Improve funding stability
Implement wholesale funding
Support contingency funding
Improve liquidity metrics
Monitor concentration risk
Product Development
Develop new and evaluate existing products for profitability, operational feasibility, regulatory compliance, and strategic fit, including:
Relationship pricing
Premium savings
Promotional CDs
Digital products
Treasury products
Cash management services
Treasury Management
Develop treasury management services including:
ACH Origination
Remote Deposit Capture
Positive Pay
Wire Services
Merchant Services (referral)
Lockbox (referral)
Cash Management
Business Online Banking enhancements
Sales Leadership
Develop a sales culture across all offices by:
Coaching branch personnel
Establishing sales goals
Developing referral programs
Monitoring sales performance
Improving customer experience
Creating incentive recommendations
Marketing
Develop Marketing for:
Deposit campaigns
Digital marketing
Community outreach
Financial education seminars
Relationship Development
Travel regularly between Sidney, Nebraska and Indianapolis, Indiana, and other markets necessary to support business development and manage significant relationships including:
Municipal entities
Large commercial depositors
Escrow clients
Attorneys
CPA firms
Wealth advisors
Community organizations
Economic development groups
Chambers of Commerce
Qualifications
Education
Bachelor's degree in business or economics and/or Graduate School of Banking, or equivalent executive banking education preferred
Experience
Minimum 10 years of progressive banking experience
Minimum 5 years of executive or senior leadership experience in deposits, treasury management, retail banking, or commercial banking
Demonstrated success in growing deposits and managing funding strategies
Specialty deposit and treasury management experience preferred
Experience presenting to boards of directors and executive committees
Worksite address
indianapolis, IN, 46262, US
Who can apply
Review the original listing for work authorization, qualifications and employer requirements.