Head of Deposits and Payments

Martha's Vineyard Bank; Falmouth; On-site; GBP 70,000 - 90,000; Full time

Job summary

A financial institution is seeking a Head of Deposits and Payments to lead the design and execution of deposit growth strategy, manage service culture, and ensure compliance with regulatory standards. The ideal candidate will have a strong retail banking background and extensive experience in managing relationships and deposits operations.

Qualifications

• 10+ years’ experience in retail banking.
• Expert in all Deposits and Payments functions.
• Comprehensive knowledge of regulatory requirements.

Responsibilities

• Provide strategic leadership for the Deposits and Payments line.
• Develop and implement deposit strategies to support profitability.
• Manage customer experience and service culture.

Skills

Staff management

Relationship development

Business and solution development

Organizational skills

Leadership skills

Education

Bachelor’s Degree

Tools

Salesforce

Core banking systems

Job description

Position Description

Position Title: Head of Deposits and Payments Immediate Supervisor: President/CEO

Department: Deposits and Payments

Position Summary: The Head of Deposits and Payments will design and execute the Bank’s deposit growth strategy, relationship development, service culture, and account operations for Martha’s Vineyard Bank.

In addition, the Head of Deposits and Payments serves as a member of the Bank’s Senior

Management Team, contributing to the formulation and execution of the Bank’s strategies and tactical projects.

Position Responsibilities

➢ Provide strategic and operational leadership for the Deposits and Payments business line,

including the Account Operations department.

➢ Promote the Bank’s core values and foster collaboration across all business lines and operational groups in the organization.

➢ Develop and implement deposit and payments strategies, programs and performance standards that effectively support the Bank’s profitability and growth.

➢ Promote an environment that provides an extraordinary customer experience with a strong

relationship development and service culture.

➢ Oversee and manage our customers’ in-person experience throughout the Bank’s offices.

➢ Continuously innovate and evolve the Bank’s digital banking experience in pursuit of exceptional broad capability and ease-of-use.

➢ Evaluate and analyze the deposit portfolio for developing trends, actionable opportunities, or

emerging issues.

➢ Monitor and evaluate the Deposits and Payments business line’s performance based on

established metrics.

➢ Analyze the effectiveness of the Bank’s offices and recommend changes to staffing and hours of operation as appropriate.

➢ Collaborate with the Marketing team on the development and implementation of profitable and competitive solutions and services focused on core deposit growth.

➢ Remain abreast of current legal, regulatory, and other requirements. Recommend changes in

the Bank’s policies and procedures as necessary to ensure the Bank’s compliance with all

regulations.➢ Lead the Account Operations department’s back-office deposit functions including account processing, issue resolution, wire transfers, ACH processing, fraud prevention/detection, electronic banking, debit cards and branch reconciliation.

➢ Manage, coach, and develop direct reports. Establish performance standards, goals, and

objectives. Conduct annual performance reviews, mid-year check ins and career path

development conversations.

➢ Lead and manage the institution’s in-bound telephone response activities, including issue

resolution for Deposits and Payments and initial call handling for the institution.

➢ Collaborate with Professional Development Manager on appropriate professional development opportunities (internal and external) to provide growth and development for the Deposits and Payments staff. Professional development to include financial services knowledge, technical proficiency and professional growth and development. Motivate and coach office staff to develop professional skills.

➢ Work with the Deposit Rate Review Committee to review and establish rates for all deposit

solutions. Analyze financial and local market trends and conditions to ensure that deposit rates

are realistic and competitive.

➢ Maintain and expand relationships by seeking excellence in the Bank’s customer experience and personifying the Bank’s service culture with customers and the community. Promote positive bank image through community involvement, networking and attending community-based events.

➢ Assist in the recruiting, interviewing, and hiring of Deposits and Payments staff in the retail

offices and account operations. Work with Office Managers during the disciplinary process and

work to resolve staffing issues and always ensure appropriate levels of staffing.

➢ Manages the Agile Banking relationship for all things operations.

➢ Responsible for the retail operations of Windward Bank (digital bank)

Employee Responsibilities

➢ Recognize and demonstrate the Bank’s Core Values:

o We value and respect the contribution of each member of the team.

We work together to support our mutual goals.

We foster an inclusive, non-hierarchical environment.

We gain a sense of fulfillment through our contribution to the whole.

We manage client and company resources responsibly.

o We are passionate about our craft.

Each day our effort is focused on doing better than the day before.

Be curious.

Expect the highest quality work from ourselves.

Enable our creativity with continuous self-improvement.

o We go out of our way to do the right thing.

Going the distance to do right by our customers and colleagues.

Protect the confidentiality and privacy of our customers – no matter what.

Embody the gold standard of professional ethics.

Avoid even the appearance of impropriety.

o We are candid and kind.

Our integrity, built on the trust of our community and among our peers, depends

on our ability to communicate with respect, honesty, and candor.

Have the courage to be honest.

Trust and empower individuals.

Hold each other accountable to uphold our values.

➢ Maintain knowledge of services in area of responsibility.

➢ Maintain basic knowledge of related state and federal banking compliance regulations.

➢ Demonstrate understanding and adherence to Bank Security procedures.

➢ Work within procedural limits of position.

➢ Any other tasks or projects assigned by supervisor.

Position Qualifications

➢ Bachelor’s Degree preferred. Completion of banking school programs is desirable.

➢ 10+ years’ experience in retail banking.

➢ Advanced knowledge and experience in all Deposits and Payments functions.

➢ Expert skills in staff management and development, relationship development, business, and

solution development.

➢ Comprehensive knowledge of all state and federal regulatory requirements.

➢ Excellent organizational, leadership and interpersonal skills.

➢ Excellent computer knowledge & ability (Windows, Word, Excel, Salesforce, digital phone

systems, core banking systems, etc.).

➢ Additional capabilities: Notary Public; Medallion Guarantor. Maybe expected to register on the

NMLS site.

Physical & Environmental Aspects

➢ Must be able to stand or sit for long periods of time.

➢ Work is normally performed in an office environment.

➢ May operate office equipment necessary to perform job function.

Management Responsibility

➢ Job Positions/Departments Immediately Supervised:

o Regional Office Manager

o Account Operations Manager

o Optimization leader

o Solutions Desk Manager

o Fraud Coordination Group

o BSA/AML