MVB Bank · 8 hours ago
Chief Deposit Officer
United States
Full-time
Remote
Director/Executive
10+ years exp
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Responsibilities
Develop and execute MVB Bank’s deposit growth strategy to increase market share, balance sheet growth, and overall profitability.
Provide leadership oversight and guidance to the teams fueling deposit-related activities, including MVB’s Commercial, Specialty Deposits, Banking Centers, and Digital Banking teams.
Identify and implement innovative deposit products, including fintech deposits, and services tailored to the needs of individual and business customers.
Lead the creation, management, and enhancement of deposit products and services ensuring they meet the needs of our client base.
Collaborate with executive leadership to align deposit growth initiatives with the bank’s overall strategic plan.
Lead the design, pricing, and management of deposit products and ensure that deposit products remain competitive in the market by analyzing industry trends, customer behavior, and competitor offerings.
Oversee customer retention programs to reduce attrition and improve the lifetime value of deposit relationships.
Develop and implement customer acquisition and engagement strategies to grow deposit accounts across various customer segments.
Foster a strong relationship with key business and retail clients to drive deposits and ensure customer satisfaction.
Lead initiatives to improve the customer experience and loyalty, leveraging technology to optimize service delivery.
Oversee all deposit-related processes to ensure a seamless client experience.
Ensure all deposit activities comply with federal and state regulations, including adherence to FDIC and other banking requirements.
Manage deposit-related risks by developing and enforcing internal controls and policies that safeguard the bank’s financial assets.
Work closely with risk management, legal, and compliance teams to ensure deposit operations meet all regulatory obligations.
Monitor and report on the financial performance of the deposit portfolio, ensuring alignment with profitability and liquidity goals.
Analyze performance metrics and make data-driven decisions to optimize deposit pricing and account structures.
Use data and research to stay informed about industry trends, customer preferences and competitor products.
Collaborate with the finance department to forecast deposit growth and its impact on the bank’s financial position.
Build, lead, and mentor a high-performing deposit management team to support growth objectives.
Create a culture of accountability, excellence, and customer-centricity within the deposit team.
Qualification
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Required
10+ years of banking experience, with at least 5 years in an executive or senior management role, focusing on deposits and treasury management.
Bachelor’s degree in Finance, Business Administration, or a related field.
Strong understanding of banking regulations, deposit products, and financial services.
Proven track record of growing and managing a deposit portfolio in a competitive market environment.
Excellent leadership, communication, and relationship-building skills.
Ability to set long-term strategies for deposit growth and align them with the bank’s overall goals.
Strong competence in analyzing financial data, market trends, and competitor actions to inform decision-making.
Preferred
Master’s degree.
Experience managing sales teams and developing incentive programs.
Local market knowledge and the ability to develop, retain and expand relationships.
Past experience leading high-performing teams, fostering collaboration, and driving a high-performance culture.
Benefits
Medical, Dental and Vision Insurance
Health Savings Account (HSA), Health Reimbursement Account (HRA) & Flexible Spending Accounts (FSA)
Short- and Long-Term Disability Plan
Group Life Insurance
401K Salary Deferral Plan
Wellness Program
Education & Tuition Expense Reimbursement
PTO and Unique Vacation Purchase Program
Nationwide Pet Insurance Coverage
Company
MVB Bank
MVB Bank provides saving accounts, wealth management, and digital banking services.
201-500 employees
Funding
Current Stage
Public CompanyTotal Funding
$114.8M2020-12-11Post Ipo Debt· $40M
2017-12-07IPO
2016-12-12Post Ipo Equity· $22M
Leadership Team
M
Mike Ferrari
SVP Fintech Sales and Market Development
Donald Robinson
President
Company data provided by crunchbase
