Chief Deposit Officer - Metro Area

Minnesota Bankers Association; Rochester, Northern (MN, KY); Hybrid; USD 180,000 - 240,000; Full time

Job summary

Eagle Rock Bank in Rochester, MN, seeks a Chief Deposit Officer to lead core deposit growth, business services, and TPA strategy. The CDO will supervise Market Leads, the TPA Department, and Marketing, while serving on the Leadership Team.

This executive role requires a track record in deposit growth, regulatory knowledge, and relationship management, with responsibility for strategic direction, risk management, and collaboration with the Bank President and Board.

Qualifications

• Bachelor's degree in business, finance, or related field; MBA preferred.
• 10+ years of progressive experience in deposit generation, treasury/business services, or banking leadership.
• Experience overseeing niche deposit products or programs with strategic growth solutions.
• Track record of developing and executing deposit growth strategy at bank-wide level.
• Strong knowledge of deposit regulatory requirements (Reg DD, Reg E) and BSA/AML compliance.
• Excellent executive leadership, strategic planning, and relationship-management skills.

Responsibilities

• Own the bank's core deposit growth as the defining measure of success.
• Develop and lead overall deposit growth strategy in partnership with leadership.
• Identify opportunities to expand market share through new products and markets.
• Serve on Leadership Team and contribute to strategic direction and decisions.
• Directly supervise Market Leads, TPA Department, and Marketing functions.
• Ensure marketing alignment with core deposit growth objectives.

Skills

Deposit growth

Leadership

Relationship management

Strategic planning

Regulatory knowledge

Education

Bachelor's degree in business/finance

MBA preferred

Job description

The Chief Deposit Officer (CDO) sets and leads the bank's overall deposit growth, business services, and Third-Party Administrator (TPA) account strategy. Above all else, this role owns a single defining objective: the sustained growth of the bank's overall core deposit base. This role directly supervises the Market Leads, the TPA Department, and the bank's Marketing function, and serves as a key member of the bank's Leadership Team. The CDO personally maintains a select portfolio of key strategic relationships in addition to leading the broader deposit organization and maintains a primary office within the Minneapolis–St. Paul metropolitan area.

• Own the bank's overall core deposit growth as the defining measure of success for this role, ensuring every aspect of the deposit and business services strategy ladders up to sustained core deposit growth.
• Develop and lead the bank's overall deposit growth strategy, including core deposits, business services, and TPA-related account relationships, in partnership with the Bank President and leadership team.
• Identify and pursue opportunities to expand the bank’s market share through new product development, relationship-driven growth strategies, and expansion into new markets.
• Serve as a member of the bank's Leadership Team, contributing to bank-wide strategic direction, planning, and decision-making alongside other senior leaders.
• Directly supervise, coach, and develop the Market Lead positions, providing strategic direction, setting production and performance goals, and ensuring alignment of branch, deposit, and business services activity across markets.
• Directly supervise the bank's Marketing function, ensuring marketing strategy, branding, and promotional campaigns are closely aligned with and support the bank's core deposit growth objectives.

Education & Experience

• Bachelor's degree in business, finance, or a related field; MBA or equivalent advanced degree preferred.
• 10+ years of progressive experience in deposit generation, treasury/business services, or retail and commercial banking leadership, including significant experience managing multiple teams or functions.
• Prior experience overseeing a niche and/or specialized deposit products or programs, with demonstrated success developing and implementing strategic solutions to drive growth, enhance operational efficiency, manage risk, and improve client experiences.
• Demonstrated track record of developing and executing deposit growth strategy at an institutional or bank-wide level.
• Strong working knowledge of deposit-related regulatory requirements (e.g., Regulation DD, Regulation E) and BSA/AML compliance.
• Excellent executive leadership, strategic planning, and relationship-management skills, with the ability to represent the bank credibly with clients, regulators, and the board.

About Us

Eagle Rock Bank is a locally owned, relationship-focused community bank headquartered in Rochester, Minnesota. Founded in 1996 (formerly Olmsted National Bank and later ONB Bank), the bank rebranded as Eagle Rock Bank in 2024 to better reflect its vision for growth across Minnesota. The bank is dedicated to delivering personalized banking solutions through local decision-making, exceptional service, and long-term client relationships.

In 2026, Eagle Rock Bank significantly expanded through its merger with Riverland Bank, creating a stronger community banking franchise serving both Greater Minnesota and the Twin Cities. The combined organization now has approximately $500 million in assets and operates multiple banking locations while maintaining local ownership and a commitment to community banking. The merger increased lending capacity, enhanced treasury management capabilities, expanded commercial banking expertise, and strengthened the bank's ability to serve growing businesses and professionals.