Chief Deposit Officer - Sidney Federal Savings & Loan

About the Role

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, 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 CDO 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.

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
  • Online Savings Accounts
  • Business checking and savings
  • Small business operating accounts
  • Individual Retirement Accounts
  • Non-profit relationships
• Increase low-cost accounts
• Improve deposit retention
• Grow relationship balances
• Expand household penetration

Specialty Deposit Programs

• Develop M&A and other escrow deposit programs targeting:
  • Law firms
  • Investment bankers
  • M&A advisors
  • Private equity firms
• Oversee operational, legal, and risk/fraud programs for escrow deposits

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
  • Conducting profitability analysis

Liquidity Management

• 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 including:
  • Digital marketing
  • Community outreach
  • Financial education seminars

Relationship Development

• Travel regularly between Sidney, Nebraska and Indianapolis, Indiana, and other markets 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

Requirements

• Bachelor's degree in business or economics and/or Graduate School of Banking, or equivalent executive banking education preferred
• 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