SVP, Deposit Operations

COMPANY DESCRIPTION: Forbright is a nationwide full-service bank and lender helping accelerate the transition to a sustainable and low-carbon economy. Headquartered in Chevy Chase, Maryland, Forbright is committed to accelerating the transition to a sustainable economy by financing visionary leader in clean energy, healthcare, technology, financial services, real estate, and other industries with extraordinary service.

COMPANY CULTURE: We are a dynamic, high energy, fun, and fast-paced organization that has an exciting growth trajectory, meaningful mission, and embedded responsible environmental, social, and governance (ESG) practices into our daily interactions. We offer our team members a culture of collaboration, inclusion, flexibility, recognition, and giving back. We look to hire individuals that are passionate about our mission, and who are motivated, customer and results-oriented, innovative, adaptable, and thoughtful.

COMPANY MISSION: We are a mission-driven institution. We operate a sound dynamic institution that is well capitalized, liquid, profitable and uses best practices to manage risk and assure compliance with laws and regulations. We use Forbright's capital, capabilities, innovation, and expertise to help our clients succeed and contribute broadly to building a more sustainable future.

JOB SUMMARY: The SVP, Deposit Operations is responsible for overseeing all activities related to deposit operations, including account maintenance, transaction processing, compliance, regulatory reporting, and system reconciliation. This individual ensures the efficient and accurate handling of deposit-related functions while maintaining a high level of customer satisfaction and regulatory compliance.

DUTIES & RESPONSIBILITIES

• Operational Oversight
• Oversee daily deposit operations, including account opening, maintenance, and closure
• Manage the accurate and timely processing/posting of deposits, withdrawals, exceptions, and other account transactions
• Oversee the implementation of control processes and procedures across all functions within Deposit Operations and ensure accurate and timely reconciliation of control deposit accounts and associated General Ledgers
• Oversee and manage service levels to ensure timelines are met, production levels are satisfactory and compliance timeframes/requirements are maintained
• Monitor and manage the daily activities of the Bank's Deposit Systems (IBS)
• Drive efficiency and expense tracking across Deposit Operations and identify variance drivers and actions required
• Leadership and Management
• Lead, mentor, and manage a team of centralized operations support staff, ensuring that deposit procedures and policies are carried out effectively including maintaining the procedures manual
• Develop and implement efficient and automated solutions areas of responsibility
• Ensure staff are trained and knowledgeable about all aspects of deposit operations
• Actively engage in projects as allocated by Operations leadership. May serve as project lead, enlisting support from other junior stuff
• Routinely interface with other Bank managers, the leadership and other appropriate persons on issues concerning Deposit Operations
• Compliance and Risk Management
• Ensure that operating policies and procedures are conducive to compliance with all applicable federal and state banking regulations
• Monitor and assess the effectiveness of control measures and make all necessary adjustments
• Identify potential risks and develop and implement risk management strategies to mitigate them
• Conduct regular audits and reviews of deposit operations functions to identify and address any issues
• Manage materials and reporting required for internal audit and external regulators
• Reporting and Analysis
• Prepare and present regular reports on deposit operations to senior management
• Analyze operational data to identify trends and areas for improvement
• Collaborate with other departments to supports strategic initiatives and goals
• Ensure the accurate and timely reporting of Deposit account information to all federal, state, and regulatory agencies, i.e. (IRA Accounts, IOLTA, Tax Reporting, Subpoenas/Levies/Attachments)
• Customer Service
• Address and resolve customer inquiries and issues related to deposit accounts
• Work collaborative with other departments to maximize efficiencies and ensure a seamless customer experience
• Maintain a high level of customer satisfaction through efficient and courteous service to both the internal and external customer

SUPERVISORY RESPONSIBILITIES

• Supervise assigned employees by organizing and monitoring work progress
• Maintain staff by recruiting, selecting, orienting, and training employees
• Manage performance of employees through development, coaching, and counseling

QUALIFICATIONS

• Bachelor's degree required
• 12 to 15 years' experience in Deposit operations leadership role, preferably in a medium-large size community bank
• Extensive working knowledge of core banking systems and ancillary applications (digital, deposit, ACH, Wire)
• Comprehensive knowledge of legal and regulatory requirements of Banking/ Deposit Operations
• Excellent problem solving and decision-making skills
• Knowledge of commonly used concepts, practices, and procedures related to banking deposit operations
• Demonstrated effective time/project management and analytical skills with the ability to prioritize multiple assignments and adapt to changing deadlines
• Proven leadership and Ability to think critically make sound decisions with an understanding of the procedural and strategic impact to both the internal and external client
• Proven ability to inspire teams with exceptional interpersonal and communication skills
• High level of collaborative experience across business lines within the organization and demonstrated effectiveness working with business heads and managers
• Strong communication skills and ability to present complex data/concepts in a simplified, understandable, and meaningful way
• Influence various senior and leadership levels across the organization
• Federal Deposit Insurance Corporation regulated financial institution experience preferred
• Demonstrated ability to manage complex projects involving multiple stakeholders and third-party relationships

POSITION REQUIREMENTS: The requirements described are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable employees to perform the essential functions. Work is conducted primarily in an office; however, some positions may be conducted remotely via technology. While performing duties of this job, the employee may be regularly required for prolonged periods of time to:

• Sit or stand at a desk

• Walk, stoop down, crouch, kneel or bend over

• Use hands and fingers

• Utilize a computer monitor with visual acuity

• Operate technology and other office machinery such as printers, fax machines, scanners, etc.

• Communicate clearly both verbally and in writing with others

ADDITIONAL DUTIES: For Forbright Bank to remain efficient and nimble as a growing organization, team members are expected to exhibit a high level of flexibility regarding any duties that may be situationally assigned outside of this job description.

PERKS/BENEFITS:

• Comprehensive health, dental, and vision plans

• 4 weeks PTO

• 401k + company match

• Metro SmartTrip benefits ($50/mo)

• Remote or hybrid work schedules for most positions

• Bonuses for purchasing solar panels, electric vehicles, biking to work, etc.

• Paid subscriptions to Veterans Compost, Imperfect Foods, and more

• Best Workplaces for Commuters 2023 & 2024 winner

• The Washington Post Top Workplaces 2023 & 2024 winner

• American Banker Best Banks to Work For 2023 winner

It is the policy of Forbright Bank to provide equal employment opportunities to all qualified individuals and to administer all aspects and conditions of pre-employment and employment without regard to protected characteristics.