Chief Deposit Officer (CDO) - Reports to President

Position Summary

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. The CDO is responsible for 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 position 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.

Primary 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
• On-line Savings Accounts
• Business checking and savings
• Small business operating accounts
• Individual Retirement Accounts
• Non-profit relationships
• Increasing low-cost accounts
• Improving deposit retention
• Growing relationship balances
• Expanding household penetration

Specialty Deposit Programs

M&A and other Escrow Deposit Programs

Develop products and oversee operational, legal, risk/fraud program for escrow deposits targeting: Law firms; Investment bankers; M&A advisors; Private equity firms

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
• Profitability analysis

Liquidity Management Support

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
• Digital marketing
• Community outreach
• Financial education seminars

Relationship Development

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

Qualifications

Education

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

Experience

• 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