Vice President Deposit Management

The Vice President of Deposit Management leads deposit strategy, drives growth, optimizes deposit products, and ensures regulatory compliance in a financial institution.

Role Overview

The VP oversees the bank’s deposit management across retail, commercial, and corporate segments. This role focuses on increasing low-cost, stable deposits, managing funding costs, and maintaining a diversified deposit base. The VP collaborates with treasury, retail, commercial, and marketing teams to align deposit initiatives with overall liquidity and strategic objectives.

Key Responsibilities

• Deposit Strategy & Growth: Develop and execute strategies to grow all deposit portfolios, including core retail deposits, small business accounts, and corporate accounts. Identify new market segments and innovate products for market expansion.
• Product Development & Pricing: Oversee the design, management, and pricing of deposit products such as savings, checking, and term deposits. Monitor performance metrics and adjust offerings as needed.
• Customer Acquisition & Retention: Lead initiatives to attract new deposit customers and enhance loyalty. Optimize the customer experience across branches, digital channels, and other platforms.
• Liquidity & Balance Sheet Management: Work with treasury to monitor deposit trends, runoff rates, concentration risks, and funding costs while maintaining stable deposits.
• Sales & Channel Management: Coordinate with retail and commercial teams to mobilize deposits, strengthen distribution channels, and provide training, incentives, and resources.
• Risk, Compliance & Governance: Ensure full compliance with banking regulations, including consumer protection and anti-money laundering laws. Maintain internal controls and reporting standards.
• Data, Reporting & Analytics: Develop key performance indicators, dashboards, and reporting processes to monitor performance and support executive decision-making.
• Leadership & Stakeholder Management: Mentor teams across product, sales, and operations; collaborate with internal stakeholders; represent the bank in industry forums.

Qualifications & Experience

• Education: Bachelor’s degree in Finance, Business Administration, Economics, or related field
• Work Experience: 12–15+ years in banking with significant experience in deposits, retail/commercial banking, or treasury. Leadership experience managing multiple teams or functions is essential.
• Technical Knowledge: Strong understanding of deposit products, pricing strategies, liquidity management, and banking regulations. Proficiency in balance sheet optimization and performance analytics.

Skills & Competencies

• Strategic thinking and business acumen
• Leadership and team management
• Analytical and data-driven decision-making
• Customer-centric approach to growth and retention
• Effective stakeholder engagement and communication

Performance Metrics

• Growth in total deposits and low-cost deposits (COF)
• Optimization of funding costs and deposit mix
• Customer acquisition and retention rates
• Deposit product profitability and compliance outcomes

Reporting Structure

The VP reports to the President and supervises deposit management, treasury coordination, marketing, and strategic relationship management.

Regulatory & Operational Responsibilities

• Monitor regulatory changes and ensure all deposit products comply with applicable federal and state laws.
• Maintain governance and risk control frameworks.
• Collaborate with compliance and audit teams to ensure robust internal controls and reporting.

Working Conditions/Physical Demands

• Position operates in a professional office environment
• Routine use of standard office equipment, i.e. computers, phones, photocopiers, calculators, and filing cabinets
• Must be able to remain sedentary 50% of the time
• Employee will occasionally move about inside the office to access file cabinets, office machinery, etc.

Summary: The Vice President of Deposit Management plays a critical role in enhancing the bank’s financial stability, growth, and customer satisfaction, focusing on maximizing deposit quality and profitability while ensuring full regulatory compliance.