Vice President, Deposits

About the role

Redwood Credit Union is seeking a Vice President of Deposits to oversee and manage all credit union consumer and business deposits.

Responsibilities

• Provide exceptional service to all Members, member clients and RCU partners.
• Provide strong leadership to the deposit team, fostering a culture of innovation, collaboration, and excellence.
• Guide and mentor team members to achieve professional growth and performance objectives.
• Identify and pursue strategic partnerships to enhance deposit offerings and market presence.
• Collaborate with external partners to explore opportunities and new partner channels.
• Stay informed about and provide regular communication on industry best practices and emerging trends to drive innovation.
• Assist with advanced customer issues or inquiries; effectively work with back-office support personnel and vendors to ensure a high degree of quality service and account holder satisfaction.
• Drive Product Development through leadership of the creation and improvement of deposit products based on market research and customer feedback.
• Collaborate with cross-functional teams to ensure timely and successful product launches.
• Oversee the entire deposit product and service management lifecycle of deposit products, from conceptualization to ongoing management.
• Ensure operational compliance and efficiency by adhering to existing and developing recommendations for future processes and procedures.
• Ensure competitiveness, profitability, and compliance with regulatory requirements.
• Manage efficient and compliant deposit operations, optimizing processes for enhanced customer experience.
• Implement measures to reduce risk and improve operational efficiency.
• Create and maintain a list of all the products and services under management.
• Research and document detailed product requirements to ensure that products meet business needs, performance objectives and deliver an excellent customer experience.
• Support operational and administrative tasks for the units as needed.
• Lead the launch of new products and enhancement of existing products under management by connecting all related parties to close any gaps our current product offering has against our competition.
• Foster and maintain strong relationships with clients, partners, and internal teams.
• Collaborate with sales and marketing to drive deposit-related initiatives and enhance customer relationships.
• Oversee the high deposit relationship management process.
• Implement risk mitigation strategies related to deposit products and operations.
• Stay current with industry regulations and ensure compliance in all deposit-related activities.
• Develop and implement strategic plans to drive deposit growth in alignment with organizational goals.
• Identify market trends and opportunities to enhance deposit acquisition and retention.
• Create and implement products, promotions, campaigns, and other initiatives for deposit products.
• Volunteer time and capital in community non-profit events and groups and participate in community events.

Qualifications

• Thorough knowledge of terminology related to deposit products and various account types, such as Trust, Business, ERISA, and other specialty account title types.
• Understanding of and ability to work within NCUA guidelines.
• Skill in the operation of a PC with proficient word processing, spreadsheet and database software skills, and ability to use intranet and internet access.
• Excellent oral and written communication skills.
• Excellent organizational skills.
• Ability to prioritize and successfully manage multiple tasks and deadlines simultaneously.
• Ability to implement and execute assigned tasks with little or no supervision.
• Ability to effectively research data.
• Ability to distinguish and manage confidential material and information.
• Ability to establish and maintain effective working relationships with a diverse group of people.
• Experience managing the development, implementation and performance of a product or product line in the financial industry.
• Ability to leverage key performance metrics and data to provide insights and make strategic business recommendations.
• Broad knowledge of credit union operations including regulations, product, and services.
• Project Management experience.
• Knowledge of financial institution operating areas, functions, products, and services and the laws and regulations that apply to credit unions.
• Knowledgeable in regulatory requirements regarding deposit compliance Reg D, Reg DD, Reg CC, and TIS.
• Ability to think strategically and utilize appropriate partners and resources to develop and execute on a tactical solution.

Skills

• Strong leadership and mentoring skills.
• Strategic planning and execution.
• Product development and management.
• Customer relationship management.
• Operational compliance and efficiency.
• Regulatory compliance and risk management.
• Financial analysis and performance metrics.
• Team collaboration and partnership management.
• Market trend identification and opportunity assessment.
• Product evaluation and implementation.
• Community engagement and volunteerism.

Benefits

Redwood Credit Union offers a competitive total rewards package including a wide range of medical, dental, vision, financial, and other benefits.

Pay

Base starting range: $179,248 to $210,873 annually commensurate with experience.

Schedule

Full-time, On-site.