Chief Deposit Officer na City First Bank of DC

Description

WHO WE ARE

City First Bank N.A. is a mission-driven Community Development Financial Institution (CDFI) principally focused on a transformative impact in underserved, urban markets with the highest needs to drive equitable economic development. Our credit activities are purely commercial and focused on the following segments: Multifamily Affordable Housing, Not-for-Profit Finance, and Small Business Finance. As a depository and commercial lending provider with over $1.3 billion in bank assets as of December 31, 2024, our unified organization has over 100 employees in Washington DC and Los Angeles/Inglewood, CA.  

ROLE SUMMARY

The Chief Deposit Officer (CDO) is responsible for leading and executing the bank’s deposit strategy, overseeing deposit operations, product development, and treasury management services to enhance the customer experience and drive growth. This role ensures operational excellence, innovation in deposit and cash management solutions, and seamless execution of core system conversions to support the bank’s strategic objectives. The CDO works closely with executive leadership.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

Deposit Strategy & Growth

• Develop and implement a comprehensive deposit growth strategy to optimize core deposits, liquidity management, and profitability.
• Monitor market trends, competitive positioning, and customer insights to refine deposit offerings and pricing strategies.
• Drive initiatives to strengthen business deposit acquisition and retention, with a focus on relationship banking.

Operational Excellence

• Lead deposit operations to streamline processes, enhance efficiency, and ensure compliance with risk and regulatory requirements.
• Identify and implement automation and process improvements to optimize back-office deposit operations.
• Along with the Director of Banking Operations, establish key performance indicators (KPIs) to measure and improve operational effectiveness in deposit servicing and treasury management.

Treasury and Cash Management Oversight

• Lead the expansion and optimization of treasury management services to enhance business banking relationships.
• Develop and implement cash management solutions that align with client needs and market demands.
• Work closely with the Commercial Banking Executive (CBE), Relationship Managers, and product teammates to drive treasury management adoption and revenue growth.

Digital and Online Banking

• Oversee digital banking operations to ensure customer satisfaction and secure transactions.
• Manage the development and improvement of digital banking tools and services.
• Leverage technology to create frictionless client experiences, from mobile banking to online account management.

Product Development & Innovation

• Oversee the design, enhancement, and rollout of deposit products and treasury management solutions tailored to customer needs.
• Collaborate with the Retail Banking Executive (RBE), Commercial Banking Executive (CBE), technology and digital banking teams to introduce new capabilities and improve existing deposit offerings.
• Ensure alignment of deposit and treasury products with the bank’s mission, customer expectations, and regulatory requirements.

Client Experience & Relationship Management

• Champion a culture of exceptional client service across all touchpoints.
• Lead efforts to enhance customer satisfaction and resolve issues proactively.
• Work closely with marketing to develop deposit and service-related campaigns.
• Collaborate with cross-functional teams to identify and implement improvements to the client journey.

Compliance & Risk Management

• Ensure all deposit and treasury functions comply with federal and state banking regulations, internal policies, and risk management frameworks.
• Monitor regulatory changes and implement necessary updates to maintain compliance and mitigate risk.
• Partner with the Compliance and Risk teams to assess and manage risks related to deposits and client transactions.

Requirements

EDUCATION & EXPERIENCE

Required Education/Experience:

• Bachelor's degree in finance, business administration, or a related field (MBA preferred).
• Previous and successful leadership experience within several operational areas for a Bank more than $1B in assets. 
• 10+ years of experience in banking or financial services, with extensive experience in deposit operations, treasury management, product development, and core system conversions within a financial institution.
• Strong knowledge of digital banking and financial technology trends.
• Strong leadership skills with the ability to drive strategy, manage change, and collaborate across multiple departments.
• Deep understanding of banking regulations, risk management, and compliance related to deposits and treasury services.
• Proven track record in developing and executing deposit growth strategies while ensuring operational efficiency.

KNOWLEDGE, SKILLS, AND ABILITIES

• Deposit & Treasury Management Expertise – Deep understanding of deposit products, treasury solutions, pricing strategies, and cash management services to drive growth and profitability.
• Operational & Regulatory Excellence – Strong knowledge of banking regulations (BSA/AML, Reg CC, Reg D), risk management, fraud mitigation, and internal controls to ensure compliance and operational integrity.
• Strategic Leadership & Execution – Proven ability to develop and implement deposit and treasury strategies, oversee core system conversions, and drive process improvements.
• Technology & Digital Innovation – Experience in leveraging core banking systems, automation, and digital solutions to enhance efficiency and customer experience.
• Financial & Analytical Acumen – Skilled in analyzing deposit trends, assessing risk, optimizing pricing strategies, and managing profitability.
• Cross-Functional Collaboration & Communication – Ability to work effectively with executive leadership, operations, IT, finance, compliance, and retail teams to align deposit strategy with business objectives.